Zimbabwean telecom tycoon Strive Masiyiwa has gained $1 billion since the beginning of 2023.
He is among African billionaires who suffered significant losses in 2022.
Masiyiwa’s net worth has surged by $1 billion since the beginning of 2023, reaching $2.2 billion on May 17.
The primary catalyst behind Masiyiwa’s tremendous increase is the exceptional performance of his stake in Econet Zimbabwe and EcoCash Holdings.
Masiyiwa’s strategic interest in Econet Global Limited has also allowed him to amass a $145 million stake in Liquid Intelligent Technologies.
As African billionaires recover their losses, Masiyiwa’s unwavering pursuit of success, combined with astute investments, has positioned him as one of the most prominent black billionaires in the global business landscape.
Last year, Masiyiwa suffered a significant loss in net worth due to a sustained decrease in the shares of his publicly traded companies and the depreciation of the Zimbabwean dollar.
His net worth dropped by $3.1 billion in nearly four months, from $4.4 billion on May 1 to $1.3 billion on August 22. Forbes reported that Masiyiwa was the only African billionaire to have lost over $3 billion in recent times.
The $ 3.1 billion drop in his net worth can be attributed to the performance of his investments in Econet Zimbabwe and EcoCash Holdings. Masiyiwa’s wealth is mainly comprised of his 52.85% stake in Econet Zimbabwe and his 30% stake in EcoCash Holdings.