Julius Mwale: Kenyan Billionaire Bids Ksh90 Billion To Buy Forbes

Kenyan tycoon Julius Mwale is among billionaires seeking to buy shares in Forbes, an American business magazine.

The bid which is said to be Ksh 90 billion is led by Austin Russell, an American entrepreneur and the founder and CEO of Luminar Technologies.

According to Axios, an news outlet, Mwale joined the bid and he is expected to contribute billions of shillings towards the purchase.

However, it was not revealed how much he will contribute and how much shares he is expected to take up at the company.

As earlier reported on WoK, Mwale announced plans to expand his Hamptons Hospital to Botswana.

The founder of Mwale Medical and Technology City (MMTC) announced the expansion following a meeting with President Eric Masisi.

Mwale was in the country to attend the Forbes Under 30 Summit when he held discussions with Botswana’s president.

Masisi noted that medical tourism is one of the prospective areas of collaboration with Hamptons Hospital.

Forbes

Forbes is an American business magazine owned by Integrated Whale Media Investments and the Forbes family.

Published eight times a year, it features articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics and law.

Forbes has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide.

Forbes was founded in 1917 by B.C. Forbes, a Scottish-born American journalist.

The magazine was originally called “The Forbes Magazine of New York” and was published monthly. In 1920, the magazine was renamed “Forbes” and began publishing biweekly.

In 1954, B.C. Forbes’ son, Malcolm Forbes, became the editor-in-chief of the magazine.

Malcolm who helped to make Forbes a household name was known for his lavish lifestyle and his collection of art and antiques.

In 1999, he died and his son, Steve Forbes, took over as editor-in-chief. Steve Forbes is a conservative politician who ran for president of the United States in 1996 and 2000.