Business and Technology

Strive Masiyiwa reclaims spot in African Billionaires group with a $2 billion net worth

Published

2 weeks ago

15/05/2023

ZESA WOES: Strive Masiyiwa Offered To End Power Crisis But This Happened

FOLLOWING a surge in the market value of his publicly listed companies on the Zimbabwe Stock Exchange, Zimbabwean billionaire businessman Strive Masiyiwa has once again joined the exclusive group of African billionaires with a net worth of $2 billion or more.

Despite experiencing a $100-million decline in his net worth between April 5 and April 15, Masiyiwa, Zimbabwe’s richest man, has made a swift recovery, with his net worth surging to $2 billion in just 18 days, surpassing its previous value of $1.9 billion.

The recent surge in Masiyiwa’s net worth has brought his year-to-date wealth gains to $800 million, up from $700 million just three weeks ago.

Strive Masiyiwa Gains US$700 Million In 27 Days

This solidifies his status not only as one of the world’s wealthiest Black billionaires but also as Southern Africa’s second-richest Black billionaire.

With a net worth of $2 billion, Strive Masiyiwa is also recognized as one of Africa’s most successful businessmen.

According to Forbes, he currently holds the 1,538th spot on the list of the world’s wealthiest people.

The Zimbabwean billionaire’s billion-dollar fortune is partly derived from his ownership of a 52.85-per cent stake in Econet Zimbabwe, the country’s top telecom services provider, as well as a 30-per cent stake in EcoCash Holdings, a versatile smart technology company.

His recent wealth gain of $800 million can be attributed to the strong performance of his shares in these publicly traded companies, specifically Econet Zimbabwe and EcoCash Holdings.

Through his interest in Econet Global Limited, a diversified telecom group with operations and investments in Africa, Europe, South America, and the East Asia-Pacific Rim, the Zimbabwean billionaire also has a $145-million stake in Liquid Intelligent Technologies.

ZESA WOES: Strive Masiyiwa Offered To End Power Crisis But This Happened

In addition to his various investments, he and his wife Tsitsi are also the founders of the Higherlife Foundation, which provides support for orphaned and impoverished children in Zimbabwe, South Africa, Burundi, and Lesotho.

Among his other assets are stakes in mobile phone networks in Burundi and Lesotho, as well as investments in fintech and power distribution firms across Africa.-NewZimbabwe