Egyptian billionaire Ahmed Ezz spends $11.1 million to boost stake in Ezz Steel
Prior to the transaction, Ezz held a commanding 60.71-percent stake.
Hot News
Africa’s first Black billionaire Patrice Motsepe rides high as net worth hits $2.5 billion
Now holding the 1,264th spot globally, Motsepe’s wealth is primarily sourced from a fortune built in the mining industry.
Black executive Adrian Mitchell earns a $3.1-million salary from Macy’s
Mitchell — who became Macys’ COO and CFO in March 2023 — received a compensation package that includes a base salary of $0.84 million.
Fintech tycoon Ashraf Sabry’s Fawry and POS Mission link up to boost Egypt’s hospitality sector
Founded in 2008 by Sabry — its CEO — Fawry has become a leading Egyptian e-bill payment platform.
5 companies owned by African-American tech entrepreneur Clarence Wooten
As entrepreneur-in-residence at X, Alphabet’s moonshot factory, Wooten pioneers groundbreaking technologies.
Greek businessman John Coumantaros gains $8.5 million from Flour Mills stake
Flour Mills of Nigeria Chairman John Coumantaros holds a 63.34-percent stake in the company.
South African exec Sam Ngumeni earns $5.3-million salary from Woolworths in 2023
Woolworths rewards Ngumeni’s pivotal role with an impressive increase, mirroring the company’s stellar financial year.
South African tycoon Gus Attridge gains nearly $8 million in 16 days
Attridge, Aspen’s group chief advisor who ranks as one of JSE’s richest investors, owns a 4.26-percent stake in the pharma group.
Ralph Mupita-led MTN explores bold move with Elon Musk’s Starlink to strengthen regional growth
Under Mupita’s leadership, MTN Group has soared to new heights.
5 companies owned by African-American business executive Shundrawn Thomas
From leading The Copia Group to contributing to Northern Trust, Thomas shapes industries with his innovative approach and commitment to social responsibility.
Zimbabwean businessman John Moxon loses $12.7-million from stake in Meikles
Moxon owns a 10.8-percent stake in the group.
Media mogul Byron Allen challenges BET sale, offers $3.5-billion bid for network
In a scathing critique of Paramount’s decision, Allen accused the conglomerate of orchestrating a “lowball inside deal.”
Fall from fortune: Isabel dos Santos denied access to $734 million in UK assets
Once considered Africa’s wealthiest woman, dos Santos was removed from Forbes’ list of the world’s wealthiest people in January 2021.
Black executive Kenneth Frazier earns $8.5-million salary from Merck & Co.
Breaking down the nuances of Frazier’s 2022 compensation and examining the impact of his transition from CEO to executive chairman.
Vista Equity, led by America’s richest Black man, seeks $20 billion for eighth flagship fund
Under Smith’s helm, Vista Equity Partners excels amidst fundraising intricacies, boasting 18 dynamic monetization events, generating an impressive $18 billion.
Black executive Mark Mason pockets $15-million salary from Citigroup in 2022
Mason’s substantial compensation package reflects his noteworthy contributions to Citigroup’s financial success and his status as a prominent Black executive.