According to The Jerusalem Post, the Nahyan royal family of the United Arab Emirates is a dominant corporate and political force in the Gulf area, as well as one of the world’s wealthiest families.

Their net worth is greater than the combined wealth of Microsoft founder Bill Gates and Amazon founder Jeff Bezos.

Sheikh Mohammed bin Zayed Al Nahyan, the head of the Nahyan family, is the UAE’s President and the ruler of Abu Dhabi.

He has 18 brothers, 11 sisters, nine children, and eighteen grandchildren. All of the family members reside together in the “Qasr Al-Watan,” a massive edifice spanning 380,000 square meters and valued at $478 million.

The family’s real estate holdings comprises opulent houses and developments both in the UAE and abroad.

They own eight aircraft, including one Airbus A320-200 and three Boeing 787-9s. Sheikh Mohammed’s personal collection includes a $478 million Boeing 747 and a $176 million Boeing 787.

In addition, they have three of the world’s largest yachts.

Their car collection is nothing short of astounding. According to reports, their vehicles are split out over four museums in the UAE and Morocco. The family owns more than 700 cars, including Ferraris and Lamborghinis.

The family owns 81% of the City Football Group, which includes football clubs like Manchester City, Mumbai City, Melbourne City, and New York City.

Egyptian billionaire Nassef Sawiris, the richest individual in his home nation and one of Africa’s most powerful businessmen, has seen his fortune increase by $410 million in just nine days. This strengthens his position atop the continent’s wealth pyramid and moves him up the worldwide rich list.

Sawiris’ net worth increased from $8.27 billion on April 16 to $8.68 billion as reported by the Bloomberg Billionaires Index, which analyzes the fortunes of the world’s 500 wealthiest individuals. This works out to an amazing average daily gain of $45.56 million.

The wealth increase reverses prior losses and brings Sawiris’ year-to-date gains to $271 million. This is primarily due to the performance of his investments in the Dutch fertilizer firm OCI N.V. and the German apparel brand Adidas. Sawiris owns 38.8 percent of OCI and 6% of adidas.

Adidas’ share price has risen 11.51 percent since April 16, from €202.50 ($217.03) to €225.80 ($242). This spike pushed the company’s market capitalization beyond $40 billion, increasing Sawiris’ ownership by an estimated $266.63 million. His stake in OCI has also increased by $35 million, reaching $2.17 billion from $2.13 billion. Sawiris’ surprising leap propels him nine ranks up the Bloomberg Billionaires Index, from 300th to 291st.

Adidas’ recent increases have boosted market confidence in its 2023 success. Despite ending its partnership with Kanye West’s Yeezy brand in October 2022, Adidas topped expectations with a €268-million ($292 million) operating profit, exceeding projections by roughly €1 billion ($1.08 billion).

Adidas is looking for fresh collaborations following the Yeezy split. CEO Bjorn Gulden hinted about possible collaborations with pop culture luminaries, including Taylor Swift as a candidate.

Furthermore, a significant coup for the corporation is Liverpool Football Club’s forthcoming transfer from Nike to Adidas uniforms beginning in the 2025-2026 season, securing a lucrative five-year contract gained after Adidas outbid Nike and Puma.

In a significant move reshaping the energy landscape in South Africa, Vitol, a global leader in energy trading and marketing, has acquired Engen filling stations. This acquisition marks a pivotal moment for both companies and promises to have far-reaching implications for the fuel industry in the region.

Vitol, renowned for its expertise in distributing crude oil, fuel products, and natural gas internationally, has strategically positioned itself to capitalize on emerging opportunities across the African continent. The acquisition of Engen, a prominent player in South Africa’s fuel sector, underscores Vitol’s commitment to expanding its footprint and enhancing its market presence.

Engen, with its extensive network of 1,300 gas stations nationwide, has long been a familiar sight on South Africa’s roads, serving millions of customers with quality fuel and convenience services. However, with Vitol’s acquisition, the dynamics of the industry are set to undergo a significant transformation.

Following the deal, Vitol will now operate a vast network of 3,900 gas stations spread across 27 African countries, firmly establishing itself as a key player in the region’s energy sector. This expanded footprint positions Vitol to meet the growing demand for energy products and services, tapping into diverse markets and driving innovation in the delivery of fuel solutions.

The acquisition not only amplifies Vitol’s market reach but also brings about changes in the Engen brand itself. As part of the transition, the familiar Engen branding will gradually give way to Vitol’s identity, reflecting the integration of the two entities and signaling a new era in energy distribution across Africa.

This strategic move by Vitol underscores the company’s vision to leverage its global capabilities and local expertise to deliver value to customers and stakeholders alike. By harnessing synergies between the two entities, Vitol aims to enhance operational efficiencies, optimize supply chains, and deliver an unparalleled customer experience.

The implications of this acquisition extend beyond the realm of business, touching upon broader economic and social dimensions. With Vitol’s expanded presence, there is the potential for increased job creation, skills development, and economic growth in the communities where these filling stations are located.

Moreover, the integration of Engen into Vitol’s network opens up new avenues for collaboration and investment in infrastructure, technology, and sustainability initiatives. As the energy landscape continues to evolve, there is a growing emphasis on environmental stewardship and the transition towards cleaner, more sustainable energy sources. Vitol’s global expertise, coupled with Engen’s local knowledge, positions the combined entity to play a leading role in driving this transition in Africa.

However, with such transformative changes come challenges and uncertainties. The transition period will require careful planning and execution to ensure a smooth integration of operations and minimal disruption to customers and stakeholders. Additionally, regulatory compliance and market dynamics will need to be navigated adeptly to maximize the benefits of the acquisition.

Nevertheless, amidst these challenges lie immense opportunities for growth, innovation, and collaboration. By harnessing the strengths of both companies and leveraging their complementary capabilities, Vitol is poised to emerge as a formidable force in Africa’s energy landscape, driving progress and prosperity across the continent.

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In conclusion, Vitol’s acquisition of Engen filling stations marks a significant milestone in the evolution of the energy sector in South Africa and beyond. With an expanded footprint, enhanced capabilities, and a commitment to innovation, the combined entity is well-positioned to meet the evolving needs of customers, drive sustainable growth, and shape the future of energy distribution in Africa.