Business
Aliko Dangote Remains Africa’s Richest Man, Rises to 65th on Global Billionaires List

Nigerian billionaire and industrialist, Aliko Dangote, has maintained his position as the wealthiest man in Africa, with his fortune rising to an impressive $28 billion.
This makes him the 65th richest person in the world, according to the latest Top 500 Billionaires Index released by Bloomberg.
Dangote’s significant increase in wealth is largely attributed to the successful commencement of operations at his new petrochemical refinery, which is valued at over $20 billion.
The refinery, a major project for the African continent, is expected to boost the Nigerian economy by providing jobs and reducing the country’s reliance on imported petroleum products.
Dangote’s business empire continues to grow, and this latest milestone marks the highest point he has reached on the global billionaires list, having moved up from 83rd place in 2022.
While Dangote dominates the African billionaire landscape, no other individual from the continent comes close to his new ranking.
Johann Rupert, a South African luxury goods tycoon, holds the 174th spot on the global list, with a wealth of $13.6 billion.
Rupert is the chairman of Swiss-based luxury group Richemont, which owns prestigious brands like Cartier and Montblanc.
Nicky Oppenheimer, another prominent South African, is ranked 224th worldwide, boasting a fortune of $11.6 billion.
The Oppenheimer family is well known for its deep roots in the diamond industry, having sold its stake in De Beers, the world’s largest diamond producer, to Anglo American.
Other African billionaires featured on the list include Natie Kirsh of South Africa, ranked 297th with a net worth of $9.25 billion.
Kirsh’s fortune comes from his investments in real estate and distribution businesses across the globe.
Egypt’s Nassef Sawiris ranks 302nd with $9.16 billion, with interests spanning construction, chemicals, and sports, as he holds a significant stake in the English football club Aston Villa.
His brother, Naguib Sawiris, another Egyptian billionaire, is listed 407th with a net worth of $7.37 billion.
Naguib Sawiris is a prominent investor in telecommunications and media, as well as other industries.
At the top of the global billionaires list, American tech moguls continue to dominate.
Elon Musk, the CEO of Tesla and SpaceX, holds the top position with a staggering fortune of $242 billion, making him the wealthiest person on the planet.
Musk’s ventures in electric vehicles and space exploration have catapulted him to the pinnacle of the wealth hierarchy.
Following closely behind is Amazon founder Jeff Bezos, who holds $210 billion in wealth.
Bezos, known for revolutionizing the e-commerce industry, stepped down as Amazon’s CEO but remains one of the richest individuals worldwide.
Other notable names include Mark Zuckerberg, the founder of Meta (formerly Facebook), who ranks third with a net worth of $204 billion.
Zuckerberg’s social media empire continues to be a major force in global communications.
Larry Ellison, the co-founder of Oracle Corporation, is fourth on the global list with $185 billion.
Ellison’s software company has made significant strides in cloud computing and enterprise technology, ensuring his place among the world’s wealthiest.
Dangote’s rise to global prominence highlights the success of African entrepreneurs on the world stage.
His business empire spans across various sectors, including cement, sugar, and now petrochemicals, making him one of the most influential businessmen not only in Nigeria but across the continent.
His refinery project, in particular, is expected to have a transformative impact on Nigeria’s economy, reducing the country’s dependence on fuel imports and boosting local production.
As Dangote continues to break new ground, his success story serves as an inspiration to many, demonstrating the potential of African businesses to compete on a global scale.
His journey from humble beginnings to becoming a global powerhouse showcases the opportunities available in Africa’s growing markets.
With investments in multiple industries, Dangote’s influence is set to expand even further, solidifying his position as a leader in Africa’s economic transformation.
Business
Skype Finally Shuts Down After 22 Years of Connecting People Online

Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come

United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
Business
Nigerians Cry Out as CBEX Investment Platform Collapses, EFCC Steps In To Investigate

It has been reported that Economic and Financial Crimes Commission (EFCC), prepares to look into the recent crash of the popular investment platform, CBEX.
It can be recalled that investment platform, CBEX, recently crashed and caused worry for many users. The public to social media to lament about the crash of the platform and cries out due to their losses.
Popular Nigerian blogger, Innocent Tino shares that he will partner with EFCC for a joint investigation of the downfall of CBEX. It was also shared that a total of #1.3 trillion funds have been lost due to the crash.
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