Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
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Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
He stated in a Facebook post that the reports are a fabrication.
The slump in his net worth can be attributed to a plunge in the shares of his publicly traded companies.
The news comes a week after ADC announced the construction of a 30-megawatt data center facility in Accra, Ghana.
ADC is an affiliate of Cassava Technologies.
EcoCash Holdings is now the fourth most valuable stock on the Zimbabwe Stock Exchange.
Masiyiwa owns a 52.85-percent stake of Econet Zimbabwe.
The billionaire has surpassed South African mining tycoon Patrice Motsepe as the richest Black man in Southern Africa.
Meikles is a well-diversified conglomerate with holdings in hotels, retail, supermarkets, agriculture and financial services.
The billionaire owns a majority 52.85-percent stake in Econet, Zimbabwe’s largest telecom services provider.
Elizabeth Tanya Masiyiwa, an entrepreneur and philanthropist, is one of Zimbabwean billionaire Strive Masiyiwa’s six children.
Liquid Intelligent Technologies is a pan-African technology group.