The net worth of Strive Masiyiwa, Zimbabwe’s richest man, has grown by $600 million since the beginning of 2023 at a time when some African billionaires have experienced significant declines in their fortunes this year.
According to Forbes, Masiyiwa’s net worth has surged by $600 million, largely due to the impressive performance of his diversified investment portfolio spanning various industries, such as telecommunications and technology. At the start of the year, his fortune was valued at $1.2 billion, but due to the strong performance of his broad assets, managed through his technology group, Econet Global, his net worth has now soared to $1.8 billion.
This recent increase has solidified Masiyiwa’s position as one of Africa’s richest businessmen and one of the world’s Black Billionaires, alongside prominent figures such as Jay-Z, Oprah Winfrey, Robert F. Smith, Patrice Motsepe, and Abdul Samad Rabiu.
The surge in Masiyiwa’s net worth can be attributed in large part to the outstanding growth of his publicly traded businesses on the Zimbabwe Stock Exchange, particularly Econet Zimbabwe and EcoCash Holdings. He holds a majority 52.85 percent stake in Econet Zimbabwe, the country’s largest telecom services provider, and another 30 percent stake in EcoCash Holdings, a diversified intelligent technology company focused on digital and financial solutions.