Browsing: Forbes

At 49, Tanzanian Mo Dewji is Africa’s youngest billionaire. Dewji is CEO of METL, a Tanzanian conglomerate founded by his…

The capitalist class consists of less than 1% of the richest individuals in the world. These members of the capitalist…

Elon Musk, Tesla, and SpaceX command a cult following from legions of fans worldwide. Musk’s fortune tumbled by a staggering…

The reduction in the world population of billionaires was down to war, the pandemic, and what Forbes described as sluggish markets. All the billionaires of the world are collectively worth US$ 12.7 trillion dollars!

For perspective, if the common market that AfCFTA area aims to achieve in Africa is realized, it would be worth one-third of the collective wealth of the world’s global billionaires.

The wealth of the 2,668 billionaires collectively is 4 times higher than China’s foreign exchange reserves. As spectacular as this may sound this collective number of the wealth of billionaires is US$ 400 billion lower than the collective tally for 2021.

Patrice Thlopane Motsepe has entrepreneurship baked in his bones. It seems the South African born mining magnate has natural instincts…

His fortune is estimated to be worth a staggering US$148 billion. He is second only to Tesla founder and eccentric billionaire Elon Musk. Very interesting to note is the fact that the rise of Adani into the high stakes of global wealth is also the first time that two of the wealthiest individuals in the world are from countries that comprise the BRICS nations.

Though now a US citizen, Elon Musk has South African heritage, and Adani is an Indian national.

That two of the richest men in the world are from BRICS countries is indicative of the emergence of the bloc. Adani is the first person of Indian descent to occupy the position. Adani is the chairman of the Adani Group, which operates a litany of businesses in coal mining, infrastructure, and thermal power generation. His companies also operate private airports and firms. According to media reports, Adani’s wealth began to surge at the beginning of this year when he was ranked 14th on the Bloomberg Billionaires Index.

Right across the financial divide, the company reported strongly. Even more remarkable and unprecedented, the Nigerian cement company declared a dividend of N$ 2.61, which was paid instantly during the shareholders’ meeting. This is not something that often happens, if at all.

Normally a company declares a dividend, and then what follows is a process where shareholders are notified by either their stockbrokers, the company itself or the press of the dividend on offer and which shareholders are eligible for the payout, usually those shareholders who are on the company’s record on or before a specific date. This was not the case at the BUA Cement Limited shareholder’s meeting.

The dividend was declared during the meeting and was paid to shareholders before they left the auditorium where they were gathered.

Starting on 24th to 28th April 2022, the world’s most elite young entrepreneurs and specific industries’ game-changers will attend the meeting, which will be held in Botswana.

Among the participants, a third will come from the 30 Under 30 Africa community, the other third from Botswana, and the final third from the Forbes 30 Under 30 community globally.

The Summit will begin in Gaborone, Botswana’s capital city. It will be inaugurated by a speech from the country’s government, venture capital, and business role models, inspiring the next generation of leaders.

The Summit will also house local performers, chefs and entrepreneurs, giving the experience of sounds, cuisine and staples of local culture while engaging in unbeatable networking and pitching opportunities.

Serena Hotels and Resort, a leading global hospitality brands with prominence in East Africa has partnered with a Forbes feted…