South African billionaire Saltzman family suffers $34-million loss in 72 days
Since the Saltzmans founded Dis-Chem Pharmacies more than four decades ago, it has grown into one of the country’s leading retail healthcare groups.
Hot News
Kenyan tycoon James Mwangi’s takes $1.4-million hit from Equity Group stake
Equity Group has become a dominant force in East and Central Africa under the leadership of Mwangi, who owns 3.38 percent of the group.
South African tycoon Jens Montanana earns $11.9-million salary from Datatec in 2023
Under the leadership of Montanana, the tech group recorded a comprehensive income of $70.62 million at the end of its 2023 fiscal year.
South African banker Ciko Thomas earns $1.5-million salary from Nedbank in 2022
Thomas has effectively held the reins as group managing executive for retail and business banking at Nedbank Group since his appointment in 2016.
Michael Jordan joins the world’s 1,000 richest individuals
Jordan’s enduring legacy as a sports icon and astute businessman continues to shine brighter than ever.
South African exec Mary Vilakazi named first female CEO of Africa’s top lender
Vilakazi’s journey at FirstRand began when she was appointed chief operating officer in July 2018.
South African billionaire Christo Wiese loses $46 million from investment in Shoprite
Wiese’s holdings in Shoprite amount to an 11.58-percent stake, valued at over $780 million.
Nigerian businessman Tony Elumelu gains $5 million in three weeks from UBA
Elumelu, with his 7.17-percent stake in UBA, equivalent to 2,450,603,739 ordinary shares, ranks as one of the wealthiest individuals in the country.
Egyptian mogul Safwan Thabet loses $23.6 million in 57 days from stake in Juhayna
Thabet owns a majority 50.07-percent stake in Juhayna Food Industries through Pharon Investments.
U.S. billionaires team up with Africa’s richest man to back $500-million Africa-focused fund
American billionaires David Rubenstein and Bill Conway are not the only heavyweights participating in this venture.
Kenyan billionaire Peter Njonjo’s agri-tech firm battles liquidation attempt
Twiga Foods, founded in 2013 by Njonjo and Grant Brooke, has been at the forefront of transforming Kenya’s agricultural sector.
America’s second-richest Black man David Steward faces $380-million loss
Despite this setback, David Steward maintains his position as America’s second-richest Black man, trailing behind Robert F. Smith, the founder of Vista Equity Partners.
7 companies owned by Kenya’s second-largest landowner, Moi family
Unofficial estimates suggest the Moi family’s wealth surpasses $3 billion, attesting to their substantial financial resources.
Egyptian businessman Hani Berzi’s Edita secures $45-million loan from IFC
Under Berzi’s leadership, Edita Food Industries experienced a remarkable upswing of 92.8 percent in profits.
Beyonce’s ‘Renaissance’ world tour generates $579 million in revenue
The 56-stop tour, which commenced in May, showcased Beyonce’s unwavering dominance in the world of entertainment.
Investment firm led by America’s richest Black man acquires software maker TRG Screen
Vista Equity Partners, which is led by America’s richest Black man Robert F. Smith, has acquired a majority stake in TRG Screen.