Adidas’ debt rating takes a hit as Kanye West’s departure impacts earnings
Since Adidas severed ties with Kanye West in October 2022, his net worth has declined by $1.6 billion.
African Billionaires
South African mogul Adrian Gore’s Discovery suffers 10-percent decline in earnings
Gore owns a sizable 7.48-percent stake in Discovery Limited.
Tanzanian billionaire Rostam Aziz receives approval to set up gas plant in Kenya
The license sets the stage for a billionaire brawl between Aziz and Mohamed Jaffer
Tunisian businessman Habib Essayeh’s investment in Euro-Cycles nets him $2.2 million in 38 days
Essayeh owns a substantial 33.6-percent stake in Euro-Cycles.
Elon Musk’s SpaceX to roll out Starlink satellite Internet service in Ghana, Egypt by 2024
The move comes as Musk, the world’s second-richest person, takes charge of technological advancement.
Rihanna’s next billion-dollar move: The cosmetics mogul sets sights on new ventures to boost Fenty Brand
Rihanna is not resting on her laurels.
African-American exec Jordan Miller’s Adelphi Bank raises $24.5 million ahead of public debut
Adelphi Bank was founded with the goal of simplifying the complex world of finance.
Ethiopian billionaire Mohammed Al-Amoudi’s net worth soars by $161 million
Al-Amoudi is worth $5.62 billion at the time of writing.
South African tycoon Neal Froneman’s Sibanye-Stillwater to acquire Australia’s New Century for $83 million
Froneman holds a 0.074-percent ownership stake in Sibanye-Stillwater.
Nigerian billionaire Femi Otedola donates $4.3-million engineering faculty complex to Augustine University
As an added honor, in September 2022, Otedola was appointed as the distinguished chancellor of the university.
Kenyan tycoon Chris Kirubi’s heirs gain $1.4 million from stake in investment firm, Centum
After Kirubi’s passing, his son and daughter inherited 80 percent of his fortune.
This Sierra Leone-born entrepreneur is disrupting the African gaming market; his startup has raised over $56 million
Robbin-Coker is a prominent figure in the African tech industry.
Abdul Samad Rabiu loses Africa’s fourth-richest spot as net worth drops $545 million in 24 hours
Rabiu maintains his rank as Nigeria’s second-richest person, outpacing telecom billionaire Mike Adenuga.
South African billionaire Koos Bekker’s Naspers backs startup in $100-million raise
Bekker’s 0.96-percent Naspers stake is valued at $740 million.
Egyptian billionaire Mohamed Mansour’s net worth skyrockets by $400 million
Mansour is the world’s 1,034th richest man.
Afreximbank’s FEDA completes acquisition of 5 percent stake in Femi Otedola’s Geregu Power
Geregu Power is a power-generating company.