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Last month was dominated by debates about AI, technology valuations and whether some of the world’s biggest companies have grown too fast. This week offered another reminder of how quickly markets can change direction.

Elon Musk briefly crossed the trillionaire mark after SpaceX’s public listing, only to fall back below it days later as the company’s shares declined.

While his fortune remains far ahead of every other billionaire, the episode highlights how closely personal wealth can be tied to market sentiment, investor expectations and the performance of a single company.

Elon Musk’s net worth has fallen below $1 trillion after a sharp decline in the share prices of both SpaceX and Tesla. According to Bloomberg, his fortune now stands at $957 billion, down from the trillionaire status he reached earlier this month following SpaceX’s public listing.

SpaceX shares have dropped more than 30% from their recent peak as investors reassess the company’s valuation amid a wider sell-off in technology stocks.

The decline comes as markets react to concerns about an AI bubble and rising interest rates. Despite the pullback, SpaceX remains Musk’s most valuable asset, accounting for the majority of his wealth.. Read more…

🇿🇦 UNAIDS warns U.S. funding withdrawal could threaten progress in South Africa's HIV battle

UNAIDS has warned that the phased withdrawal of U.S. PEPFAR funding could disrupt HIV services in South Africa, where about 8 million people live with the virus. While the government funds most treatment programmes, the aid supports thousands of health workers and community services.

Experts fear replacing those resources could be difficult and may slow progress made against HIV over the past two decades. Read more…

🇳🇬 Nigeria sold N105 billion worth of petrol to the country accused of reselling it back

Nigeria exported N105.5 billion worth of petrol to Togo in the first quarter of 2026, alongside significant shipments of gas oil, jet fuel and crude-related products. The figures reflect Nigeria’s shift into a net exporter of refined fuel following the growth of Dangote Refinery.

The trade has also drawn attention after claims that some Nigerian fuel is routed through Togo before returning to the country, allegations the refinery has denied. Read more…

🇿🇦 Africa's second richest man pours in €10 million to expand luxury brand production in Italy

Richemont has expanded its leather goods facility in Scandicci, Italy, increasing its size from 5,000 to 12,000 square metres through an investment of more than €10 million. The site now supports five group brands and is expected to grow its workforce from 250 to more than 300 employees.

The expansion forms part of the company’s strategy to bring more production in-house and strengthen control over manufacturing and quality. Read more…

Africa's 10 most peaceful nations according to latest 2026 rankings

The 2026 Global Peace Index shows a 0.7% drop in global peace. In Africa, rankings are determined by looking at factors like internal conflict, terrorism, political stability, violent crime, and institutional strength to identify the continent's pockets of stability.

Source: Institute for Economics & Peace

🇧🇫 Burkina Faso hits back at EU parliament, moves to block Western diplomatic pressure in the Sahel

Burkina Faso’s military government strongly condemned a European Parliament resolution criticizing its civic freedoms, dismissing it as neo-colonial interference.

Rejecting allegations of media crackdowns and abuses, authorities accused the EU of ignoring its security realities and progress against insurgency. It linked Sahel instability to the 2011 NATO intervention in Libya. Read more…

🇨🇳 As the G7 moves to cut reliance on China, Beijing is turning to BRICS for critical minerals

The G7 is accelerating efforts to reduce its reliance on China for critical minerals to below 60% by 2030 through stockpiling and recycling. In response, Beijing is deepening cooperation within BRICS to secure global supply chains.

Chinese firms are leveraging their heavy footprint in strategic mineral extraction across Africa, Brazil, and Russia to counter Western-led diversification efforts. Read more…

BRICS is an intergovernmental organization made up of some of the world's fastest-growing economies, originally formed to challenge the global economic dominance of Western nations.

Interestingly, the acronym was not created by the countries themselves, but by a Western investment banker. In 2001, Jim O’Neill, an economist at Goldman Sachs, coined the term "BRIC" (Brazil, Russia, India, and China) in a research paper to highlight the emerging markets poised to dominate the future global economy.

The nations later embraced the concept, holding their first formal summit in 2009 and officially adding South Africa in 2011 to become BRICS.