Adidas claims Kanye West squandered $75 million intended for Yeezy collection marketing
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
Kenya
America’s second-richest Black man David Steward’s wealth soars above $6 billion
Steward’s fortune has skyrocketed by more than $1.1 billion recently, rising from $4.87 billion on May 9 to $6 billion.
SpaceX, led by world’s richest man Elon Musk, launches satellite Internet service in Kenya
Starlink officially launched in Africa in 2022, with Musk claiming that the satellite Internet service provider will operate anywhere on Earth where it is legally permitted.
Top Black CEO Marvin Ellison rakes in almost $7 million from Lowe’s shares
Ellison’s minority 0.038-percent stake in Lowe’s translates to a total of 224,800 shares.
Meet Calvin Butler, Jr., one of the newest Black executives leading America’s biggest companies
As corporate America embraces change and inclusivity, Calvin Butler, Jr. stands at the forefront, leading with purpose and vision.
Jay-Z’s foundation raises $20 million to help socioeconomically disadvantaged individuals
Through the dedication of Jay-Z and Gloria Carter, the foundation’s legacy shines as a beacon of hope and opportunity for countless young minds.
Aga Khan IV’s stake in Nairobi-based media group NMG skyrockets by $2.8 million
The bump in the market value of Aga Khan IV’s stake in NMG reflects investors’ growing confidence and interest in the Kenyan equity market.
Kenyan tycoon Ngugi Kiuna bolsters stake in BOC Kenya to counter takeover attempt
According to the report, Kiuna purchased an additional 93,826 shares in BOC Kenya, amounting to a value of Ksh7.2 million ($63,400).
5 companies owned by Kenya’s Merali family
Billionaires.Africa has identified and monitored five prominent companies held by the Kenyan Merali family.
Firm linked to Chris Kirubi’s heirs settles $2.4-million tax charge following Uganda’s tax law amendment
Centum RE is a prominent property developer linked to Robert Kirubi and Mary-Ann Musangi, heirs to the late tycoon Chris Kirubi’s business empire.
Kenyan multimillionaire Baloobhai Patel boosts stake in Williamson Tea
Patel is one of the largest investors on the Nairobi Stock Exchange with a portfolio that has a current value exceeding $24 million.
Angola’s AG fails to persuade interpol for Isabel dos Santos’ extradition
Dos Santos has faced corruption charges for years, including allegations that she embezzled nearly $1 billion.
Kenyan tycoon Suresh Bhagwanji Shah’s stake in I&M Bank surges by $1.4 million in 29 days
The $1.45-million increase solidifies Shah’s position as one of the richest investors on the Nairobi Securities Exchange.
7 companies owned by Kenya’s wealthy Kirubi family
Following his passing in 2021, Chris Kirubi’s son, Robert Kirubi, and daughter, Mary-Ann Musangi, inherited 80 percent of his vast fortune.
Kenya’s Merali family faces $6 million blow in 2023 from Sasini Tea stake
With a 65.46-percent stake, Kenya’s Merali family holds the largest share in Sasini Tea.
Bank led by Kenyan tycoon Gideon Muriuki secures $100-million loan to empower small businesses in Kenya
Muriuki, the managing director of Co-op Bank, said the facility will empower to fulfil the financing requirements of MSMEs.