Billionaire Media magnet, Reginald Mengi, one of Tanzania’s wealthies businessmen and revered figures in the East Africa business circles has died at the age of 75.
Reginald Mengi passed away leaving behind $560 million for his 39-year-old wife and former Miss Tanzania, Jacqueline.
Mr Mengi, through his manufacturing, mining and media conglomerate IPP Group, owned newspapers and radio and TV stations. In 2014, Forbes estimated his wealth at $560m (£430m).
The news of his passing was confirmed by executives at his family office on Thursday morning stating that he died in the early hours in Dubai, United Arab Emirates.
Tanzania’s President John Magufuli took to Twitter with a condolence message early on Thursday.
“I am shocked at the death of an elder and a friend Dr. Reginald Mengi. I will remember him for his immense contribution to the development of our country and for the words he wrote in his book (titled) I Can, I Must, I Will. Sorry to members of his family, IPP workers and the entire business community,” the President said.