Greek tycoon John Coumantaros gains $13.4 million from Flour Mills stake
Coumantaros, the chairman of Flour Mills also ranked as one of the richest investors on the Nigerian Exchange, holds a substantial 63.34-percent stake in Flour Mills.
Billionaires Africa
World’s richest Black billionaire’s refinery begins diesel and aviation fuel production
The Dangote Petrochemical Complex aims to meet 100 percent of Nigeria’s demand for refined petroleum products, including petrol, diesel, kerosene, and jet fuel.
South Africa’s Ackerman family kicks off 2024 with $14.7-million loss in 11 days
The Ackerman family, known for their wealth and diverse investments, holds a significant 25.53-percent stake in Pick ‘n Pay, or 124,677,238 shares.
5 companies propelling the legacy of Black investor John W. Rogers, Jr.
From founding Ariel Investments to strategic investments in Madison Square Garden Entertainment and Generac, Rogers, Jr.’s impact resonates across diverse sectors.
5 companies linked to Nigerian lawyer and business executive Ifeoma Esiri
With more than 25 years of expertise and a pivotal role in Stanbic IBTC Holdings, she advocates for ethical governance while reshaping the nation’s financial landscape.
South African executive Bongiwe Ntuli pockets $1.6-million salary at TFG
Ntuli’s pay saw a significant 62.45-percent increase in 2023, compared to the prior year’s R18.16 million ($0.97 million).
This Week In Review: A Snapshot of African Wealth Dynamics — Soon-Shiong Loses $520 Million in First Week of 2024, Adebutu’s Wema Bank Stake Rises by $7.2 Million (Jan. 8 to 12)
Discover how strategic deals and market trends are reshaping the continent’s economic landscape.
Blackrock acquires Nigerian billionaire Adebayo Ogunlesi’s GIP for $12.5 billion
Under the leadership of Ogunlesi, GIP has flourished into the world’s largest independent infrastructure manager.
U.S.-Nigerian mogul Sam Darwish suffers $6-million loss from IHS stake
Despite this decline, Darwish remains a prominent figure in the telecom industry.
South Africa’s richest man has now lost over $600 million so far in 2024
The key factor behind the plunge in Johann Rupert’s fortune is the recent decline in the market value of his 10.18-percent stake in Richemont.
Dangote back as Africa’s richest man as Forbes adds billion-dollar fertilizer plant to fortune
The Dangote Fertilizer Plant, launched in March 2022, was conceived as part of an ambitious initiative to meet Nigeria’s 1.5 million-tonne annual fertilizer demand.
Koos Bekker-led Naspers boosts South Africa investments ahead of Amazon’s entry
Naspers South Africa CEO Phuthi Mahanyele-Dabengwa affirmed the group’s commitment to fortify its businesses in anticipation of Amazon’s impending entry.
Filipino billionaire Enrique Razon’s South African port venture faces labor union opposition
With the recent uncertainty surrounding the labor unions’ demands, Razon has seen his net worth decline by $202 million this year.
Nigerian billionaire Femi Otedola reclaims spot on Forbes rich list with $1.2-billion fortune
This is the third time in the last 15 years that Otedola is being listed as one of the world’s richest people.
Mike Adenuga becomes Nigeria’s second-richest man as Forbes revalues Globacom
His net worth now stands at $7.4 billion — solidifying his position as a top figure in Africa’s business landscape.
North Africa’s richest man suffers $271-million loss in first 10 days of 2024
A significant part of this wealth reduction stems from his considerable 38.8-percent ownership in the Dutch fertilizer company OCI N.V. and a six-percent stake in Adidas.