Daily News on African Billionaires and UHNWIs

Bernie Marcus wanted to be a doctor and enrolled in pharmacy school instead because his family could not afford medical school. He built Home Depot into a company now worth $343 billion and died in November 2024 with a fortune estimated at $11 billion.

The foundation he left behind has given $28.7 million to a cardiologist trying to regrow heart muscle.

The Marcus...

Dangote Petroleum Refinery has designed its October share sale around Nigerian retail investors rather than international institutions, and will not seek a foreign listing for at least three years, its chief executive said.

The company has applied to Nigeria's Securities and Exchange Commission for an offering that could raise $5 billion, according to a person familiar ...

Reliance Industries, the conglomerate controlled by Mukesh Ambani, will partner Rolls-Royce Holdings to design and build combat engines in India, taking the country's largest company into military aviation for the first time.

The two companies announced their intent on Friday in a joint statement issued from London and Mumbai, covering the design, development, manufactu...

Fenway Sports Group has agreed to sell roughly 30 percent of Liverpool Football Club to a consortium including Jeff Bezos and Eduardo Saverin, at a valuation of just over $7 billion that sets a record for an investment in a football club.

The buyers operate as 1892 Holdings and are led by Amit Bhatia, the British investor and son-in-law of the steel billionaire Lakshmi ...

Brett and Mark Levy are about to report a brutal-looking set of numbers, and almost none of it reflects how their business actually traded. Blu Label Unlimited Group, the prepaid and fintech distributor the South African brothers run as co-chief executives, warned on Friday that earnings for the year to May 31 will collapse by more than 80% and swing to a loss, the accounting...