Strive Masiyiwa sold 1,002 Netflix shares for 1.1 million, continuing a year-long trend of reducing his stake in the streaming giant.
Masiyiwa is launching Africas first AI factory through Cassava Technologies, in partnership with U.S. chipmaker NVIDIA.
The facility will offer GPU-powered infrastructure for local AI development, marking a strategic shift toward digital transformation in Africa.
Zimbabwean billionaire Strive Masiyiwa has sold shares worth 1.1 million in streaming giant Netflix, freeing up cash as he embarks on one of the most ambitious projects of his career building Africas first AI factory in partnership with NVIDIA, the global leader in artificial intelligence and chipmaking.
Masiyiwa sells 1,002 Netflix sharesA recent U.S. Securities and Exchange Commission SEC filing shows that Masiyiwa sold 1,002 shares in Netflix, where he has served as a board member since 2020. The transaction was completed on Monday, May 12, when Netflix stock was trading at 1,124.26 per share, valuing the company at over 480 billion. The stock has since edged higher to 1,138.44, pushing Netflixs market cap to 484.5 billion.
Strive Masiyiwa has been gradually reducing his stake in Netflix over the past year. To date, he has sold a total of 3,815 shares without making any new purchases. His recent sale aligns with broader selling activity among shareholders, including investment firms like Two Sigma Investments, LP, associated with John Overdeck, David Siegel, and Mark Pickard.
From Econet to technology: Masiyiwa diversifiesMasiyiwa, Zimbabwes richest individual with an estimated fortune of 1.2 billion , is best known as the founder and executive chairman of Econet Global. After a protracted legal battle in the late 1990s to challenge government monopolies, he launched Econet Wireless Zimbabwe in 1998. The company has since grown into one of Africas largest telecom operators, with operations in over 20 countries. He holds a 38 percent stake in Econet and 33 percent in EcoCash, a leading mobile money platform in Zimbabwe.
Over the years, Masiyiwa has expanded beyond telecoms into fintech, satellite communications, and renewable energy. He also invests in power distribution companies across the continent. In addition to his business interests, he remains committed to philanthropy through the Higherlife Foundation, which he co-founded with his wife, Tsitsi. The foundation supports education and social development across Zimbabwe, South Africa, Burundi, and Lesotho.