South African billionaire Ivan Glasenberg’s net worth jumps $640 million
The recent surge in Glasenberg’s fortune translates to an average daily gain of $37.6 million since May 1.
African Billionaires
South African billionaire Christo Wiese-linked Shoprite expands on-demand delivery service
Shoprite Holdings, Africa’s largest supermarket chain with over 3,543 stores, counts billionaire Christo Wiese as a major shareholder. His 11.63-percent stake is valued at nearly $1 billion.
Africa’s richest man Aliko Dangote’s refinery prepares for exports, targets Brazil and other African countries
Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote detailed the refinery’s ability to produce a wide range of refined products, including gasoline, diesel, and aviation fuel.
South African tycoon Laurie Dippenaar gains $22.2 million in FirstRand surge
This significant gain further cements his position as one of South Africa’s wealthiest businessmen.
Led by South African executive Gary Nagle, Glencore sells Volcan stake for $20 million
Glencore’s exit from Volcan serves as a cautionary tale for investors in the mining sector.
South Africa’s richest man Johann Rupert’s Richemont sales hit $22.4 billion
Richemont’s impressive sales results ignited a surge in its share price, jumping 5.9 percent from CHF137.25 ($150.913) on May 16 to CHF145.35 ($159.815) at the time of writing.
Nigeria’s richest banker loses $5.7 million from Zenith Bank in just four days
Ovia maintains his position as Nigeria’s richest banker, highlighting his lasting success as a prominent business leader in the country.
Kenyan tycoon Gideon Muriuki’s Co-op Bank eyes expansion after robust Q1 2024 performance
The bank aims to open 15 new branches this year, reaching 210 outlets. Recent openings include Imaara Mall on Mombasa Road and Ugunja in Siaya.
Black executive Kenneth Frazier gains $4 million from Merck stake in 29 days
Frazier, who ranks as one of America’s top Black executives, holds a minority stake of 0.028-percent stake in Merck & Co. with a present value of $92.30 million.
Nigerian billionaire Olugbenga Agboola’s Flutterwave denies losing $7.25 million in security breach
As a security precaution, Flutterwave will notify some customers to migrate their accounts and is urging all customers to enable multifactor authentication, 3D security, and IP whitelisting.
Egyptian tycoon Hassan Allam’s group secures land access for $10-billion wind farm project
The landmark wind project, one of the world’s largest, will generate 47,790 gigawatt-hours (GWh) of clean energy annually.
Refinery of Africa’s richest billionaire Aliko Dangote to buy 24 million barrels of U.S. crude
Boasting the world’s largest single-train capacity (650,000 barrels per day), the Dangote Oil Refinery aims to wean Nigeria off its reliance on imported fuels.
U.S.-Nigerian tycoon Sam Darwish sees $9.6-million loss as IHS shares slide
This comes after a substantial gain of $7.4 million recorded between April 17 and May 1, when the market value of his stake skyrocketed from $43.41 million to $50.81 million.
Top Black CEO Marvin Ellison gains $1.2 million from Lowe’s shares in 15 days
This recent upswing comes on the heels of a previous downturn in Ellison’s wealth between April 1 and 19, during which his stake in Lowe’s decreased by $4.61 million.
Ronnie Apteker: Accidental entrepreneur who launched South Africa’s first Internet service provider
Prescient about the coming tech boom, he entered the industry when most Africans were unfamiliar with computers.
Egyptian billionaire Samih Sawiris’ firm sees revenue soar to $89 million in Q1 2024
The double-digit growth in Q1 2024 is attributed to accelerated construction activity across its various destinations and improved performance across all its operating segments.