Tony Elumelu’s UBA posts record-breaking Q1 profit of $116 million
Elumelu, a widely respected business executive on the continent, holds a significant 6.9-percent stake in UBA.
African Billionaires
Kanye West’s net worth surges back to $400 million
Despite recent setbacks, West remains one of the world’s richest Black individuals.
Tunisian auto mogul Moncef Mzabi gains $1.85 million from stake auto retailer
Mzabi owns 24.5 percent of Artes.
Shelter Afrique eyes African diaspora after funding Paul Onwuanibe’s firm
Shelter Afrique recently invested $24 million in Landmark Africa Group.
Beyonce unveils new fashion collection following split with sportswear giant Adidas
The latest collaboration between Beyonce, Balmain, and Olivier Rousteing builds on their existing relationship dating back to 2018.
African-American billionaire David Steward takes a hit: Net worth drops $570 million since mid-February
Since Feb. 16, Steward’s net worth has declined by $570 million, from $6.17 billion to $5.6 billion.
Sasol, led by Fleetwood Grobler, takes bold steps into energy transition
Grobler has a minority stake in the South African integrated energy and chemicals conglomerate.
Neal Froneman’s Sibanye-Stillwater to extend funding to Australian company
Neal Froneman is currently driving the expansion and diversification of Sibanye-Stillwater’s asset portfolio.
John Coumantaros takes $30-million hit from Flour Mills investment
Coumantaros’ 63.34-percent stake in the agro-allied group is still up by over $6 million since the start of the year.
Nigerian billionaire Femi Otedola now one of Transcorp’s top shareholders
Otedola now holds a 5.52-percent stake in Transcorp, making him one of the conglomerate’s top shareholders.
Deon Nobrega’s Paymenow secures $14-million debt facility with RMB backing
Paymenow is a Stellenbosch-based financial wellness platform.
Pair of Michael Jordan’s sneakers sells for $2.2 million, becoming most expensive ever
This unique pair of sneakers holds significant historical value.
Abdul Samad Rabiu donates $11.8 million to 22 Nigerian institutions
ASR Africa is a nonprofit foundation founded by Rabiu in April 2021.
Nigerian oil tycoon Gabriel Ogbechie’s Rainoil launches mega filling station
Rainoil is a key player in Nigeria’s oil industry.
Neal Froneman’s Sibanye-Stillwater boosts dollar-denominated facility to $1 billion
Sibanye-Stillwater is a multinational precious metal mining company.
South African tycoon Noluthando Gosa suffers $6.3-million loss from stake in steelmaker
Gosa holds a 6.15-percent stake in Gauteng-based steelmaker, ArcelorMittal South Africa.