South African billionaire Patrice Motsepe-linked insurer eyes India for growth
India’s economy is growing nearly five times faster than South Africa’s.
South African billionaire
South African billionaire Ivan Glasenberg suffers $389-million loss in first weeks of 2024
Glasenberg’s wealth is derived from his 9.81-percent stake in Glencore, a Swiss multinational commodity trading and mining company.
Africa’s first Black billionaire Patrice Motsepe makes $100 million in first two weeks of 2024
Despite a 10-percent plunge in the market value of Motsepe’s 40-percent stake in ARM, the surge in his net worth is linked to the revaluation of private investments.
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.
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.
Patrice Motsepe’s ARM faces setback as court refuses appeal on diesel rebates dispute
The court decision impacts the ARM-Glencore joint venture’s financial standing.
South African billionaire Michiel Le Roux gains $104.5 million in 2023
Since its inception, Le Roux has played a pivotal role in shaping the landscape of the financial services industry throughout Africa.
South African billionaire Koos Bekker records $300-million wealth loss in 2023
Navigating headwinds: Bekker’s Prosus N.V. stake takes a hit amid industry disruptions.
South Africa’s richest man Johann Rupert rebounds strongly, gains $1.49 billion in 2023
The surge in Rupert’s fortune not only cements his position as one of Africa’s richest billionaires but also propels him to the top of South Africa’s wealth hierarchy.
Africa’s first Black billionaire Patrice Motsepe lost $600 million in 2023
The decline in his net worth is closely tied to the sustained downturn in the market value of his 40.37-percent stake in African Rainbow Minerals (ARM).
South African billionaire Saltzman family gains $131.2 million in 65 days
Lynette and Ivan Saltzman own a beneficial 35.12-percent stake in the Gauteng-based Dis-Chem Pharmacies.
South African billionaire Patrick Soon-Shiong’s net worth soars above $10 billion
Soon-Shiong’s financial resurgence throughout this year highlights his business skills and significant influence in healthcare and biotechnology.
This Week In Review: A Snapshot of African Wealth Dynamics — Peters Expands Global Footprint, Mauritius Sees Passing of Legend (Dec. 25 to 29)
From Peters’ ace move in Mozambique to Johann Rupert’s claim of the title of Africa’s richest man, it has been an interesting week in African wealth.
Johann Rupert reemerges as Africa’s richest man in latest Forbes ranking
While Forbes positions Rupert as the richest man in Africa, with a net worth of $10.2 billion, Bloomberg’s estimations paint a different picture.
South African billionaire Ivan Glasenberg faces $254-million wealth loss in 2023
The $254-million year-to-date decline in his wealth is attributed to the sustained dip in the market value of his stake in Glencore.
South African billionaire Koos Bekker loses $67 million in 41 days
Bekker’s stake in Naspers valued at $315.8 million on Nov. 15, have declined to $248.86 million at the time of writing.