Michael Jordan is reportedly selling his Hornets stake for $3-billion
In 2010, Jordan who is today worth $2-billion, paid $275-million for a majority ownership in the Hornets.
Billionaires Africa
Kenya’s Moi family-linked Sosian Energy electrifies national grid, paving way for power stability
Kenya’s Moi family is Kenya’s second-largest landowner after the Kenyatta family.
Dangote ‘no longer Africa’s richest man’ as devaluation forces Forbes to reshuffle Africa’s wealthiest list
Although Forbes estimates Dangote’s fortune at $10.8 billion, Bloomberg estimates present a slightly different picture.
Tanzanian billionaires Aunali and Sajjad Rajabali lose $2.8 million as CRDB bank shares plummet
Despite this setback, the Tanzanian billionaire brothers remain among the wealthiest investors on the Dar es Salaam Stock Exchange.
South African billionaire Johann Rupert is now Africa’s richest man, according to Forbes
According to Forbes, Rupert has ousted Aliko Dangote to become Africa’s richest man.
South African tycoon Adrian Gore racks up nearly $50 million in just 16 days
Gore, the founder of Discovery, is recognized as one of South Africa’s richest investors and businessmen.
South African tech mogul Jens Montanana gains $17.6 million from Datatec stake
Montanana holds a 14.06-percent stake in the multinational technology company.
25 Indian billionaires who made a fortune in Africa
Meet 25 Indian immigrant entrepreneurs who have built multimillion- and billion-dollar businesses and fortunes in Africa.
Naguib Sawiris’ Orascom Investment delivers strong $3.5 million profit in Q1 2023
Orascom Investment Holding was established in 2011 under the leadership of Egyptian billionaire Naguib Sawiris
James Mwangi’s Equity Group set to acquire Rwandan bank for $48.2 million
Under the leadership of James Mwangi, who owns a 3.38-percent stake in the company, Equity Group saw a 15 percent increase in profit in 2022
Prosus N.V., led by South African billionaire Koos Bekker, braces for profit slump
Founded in 1997 under Bekker’s leadership, Prosus has grown into one of the world’s largest technology investors.
Africa’s richest man Aliko Dangote loses $3.2 billion in a day as Nigeria’s currency plunges
The devaluation of the Nigerian currency severely impacted Dangote’s assets, including his 86-percent stake in Dangote Cement.
Nigerian banking titan Herbert Wigwe’s Access Bank stake surpasses $100 million
Over the past 15 days, Wigwe’s 8.95-percent stake in Access Holdings has witnessed a remarkable boost, rising by $23.2 million.
Kenyan tycoon Jimnah Mbaru’s firm claims resounding win in $3.3-million legal battle
Dyer & Blair, owned by Mbaru, has emerged triumphant in a $3.3-million legal battle against former KCB Director John Kung’u Kiarie.
Kenyan liquor tycoon Tabitha Karanja steps down as CEO of Keroche after 25 years
Keroche Breweries has become one of Kenya’s largest producers of alcoholic beverages.
Egyptian billionaire Samih Sawiris plans major tourism investment in Saudi Arabia
Sawiris’ foray into the Saudi Arabian tourism market follows a series of successful ventures in other countries.