Egyptian mogul Medhat Khalil’s Raya Holding signs deal to expand entrepreneurship support programs
Raya Holding is an Egyptian investment conglomerate formed in 1999 by the merger of entities owned by Khalil and Orascom Group.
African Billionaires
Cosmetics billionaire Rihanna returns to Puma for Fenty x Puma line
Rihanna’s partnership with Puma has spanned almost a decade, beginning when she joined the German company as creative director in 2014.
Nigerian billionaire Mike Adenuga gains $22 million from stake in oil firm, Conoil
Adenuga is the founder of leading telecom service provider Globacom.
African-American professional tennis superstar Venus Williams joins private equity firm Topspin
Williams is excited to be entering a sector that historically has had little penetration from African Americans.
Aliko Dangote’s sugar business reports impressive performance as profit surpasses $110 million in 2022
Dangote Sugar Refinery is a leading sugar business.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa to boost its capital expenditure to $750 million in 2023
Mittal owns an indirect 3.38-percent stake in the telecom giant.
Bernard Arnault’s LVMH sets sights on South African billionaire Johann Rupert’s Richemont
Richemont ranks as the fourth-largest luxury company globally.
GB Auto, led by the Egyptian Ghabbour family, hits historic $344-million profit mark
GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour.
Led by Egyptian tycoon Yasmine Khamis, Oriental Weavers’ profit dives below $31 million in 2022
Oriental Weavers is a leading carpet manufacturer and distributor.
South African tycoon Neal Froneman-led Sibanye-Stillwater posts lower earnings
Froneman’s stake in Sibanye-Stillwater is presently worth $4.28 million.
Nigerian billionaire Abdul Samad Rabiu’s net worth skyrockets to $8 billion, eyes Africa’s top 3 richest spot
Rabiu is also set to receive a dividend of $198 million.
Tunisian auto mogul Moncef Mzabi’s fortune drops by $8 million as shares in automobile retailer plunge
Mzabi continues to maintain his position as one of the wealthiest investors on the Tunis Stock Exchange.
10 richest African billionaires in 2023
African billionaires are bouncing back in 2023, after a challenging 2022 marked by significant losses in their net worth.
5 African countries with lower government spending than Aliko Dangote’s $640-million dividend
Dangote’s dividend exceeds the yearly government expenditures of these five African countries.
Swazi billionaire Natie Kirsh’s London skyscraper Tower 42 plummets in value by $10 million
Tower 42 is the fifth-tallest tower in London.
Africa’s richest man Aliko Dangote to receive $640.6-million dividend from his cement business
The dividend is higher than the annual government expenditures of Rwanda, Burkina Faso, and Malawi.