Black Billionaires In The World

by Duke Magazine

There is indeed no limit to what Black people can achieve irrespective of their minor inclusive recognition on the global professional space. With the huge accumulation of fortunes equaling up to billions of dollars, these Black entrepreneurs are reaching historical milestones well worth celebrating.

Check out the list below to read up on the richest Black billionaires around the world.

Aliko Dangote, Chairman, Dangote Group

Aliko Dangote ($8.3 billion)

Aliko Dangote is a Nigerian businessman whose wealth culminates from his cement, sugar, and flour companies. According to reporting by Forbes, Dangote is the richest Black person in the world and the richest person in Africa. One of his most successful businesses is Dangote Cement. Dangote also owns the world’s second-largest sugar refinery and began investing in oil and gas in 2007.

A Nigerian-born business mogul

Mike Adenuga ($5.6 billion)

Mike Adenuga is another Nigerian business mogul making the list. Adenuga is the second-richest Black person in the world, making his first million at age 26. He has made his fortune through his mobile phone network, Globacom, which boasts more than 50 million subscribers, and his oil company Conoil Producing. According to Forbes, Adenuga also has his hands in real estate and construction, and is the largest individual owner of property in Nigeria and Ghana.

Robert F. Smith

Robert Smith ($5 billion)

Robert Smith is the founder, CEO and Chairman of Vista Equity Partners. After spending years as a Goldman Sachs investment banker, Smith created Vista to invest in software companies.

David L. Steward, founder and chairman of World Wide Technology

David Steward ($3.5 billion)

David Steward did not have the journey to wealth easy. According to Forbes, his car was once repossessed from his office’s parking lot. Today, Steward is the co-founder and chairman of World Wide Technology, and he has a spot on the 2020 Forbes List.

Abdulsamad Rabiu, chairman of BUA Group

Abdulsamad Rabiu (2.9 billion)

Abdulsamad Rabiu is the chairman of BUA Group, a cement, sugar, and real estate conglomerate. The 59-year-old business mogul in 2020 merged his two powerhouse cement companies, Obu Cement and Cement Co. of Northern Nigeria.

Oprah Winfrey, richest black woman in the world

Oprah Winfrey ($2.7 billion)

Oprah, an American seasoned media personality, is the richest Black woman in the world. Oprah began her career as a reporter and quickly gained prominence on her self-titled talk show “The Oprah Winfrey Show.” The show lasted for over two decades. In 2000, Winfrey began her own magazine and later went on to start her own television network, the Oprah Winfrey Network (OWN), after departing from her show.

NBA legend, Michael Jordan

Michael Jordan ($2.1 billion)

NBA legend, Michael Jordan has spent a lot of time off the court, amassing wealth for himself. Jordan’s deals with Hanes, Nike, and Gatorade have helped him solidify his spot as one of the world’s top Black billionaires. He also holds the majority share of the Charlotte Hornets, owns restaurants, and still retains the longest and most recognizable endorsement deal with Nike. 

Michael Lee Chin

Michael Lee-Chin ($2 billion)

Michael Lee-Chin is the president and chairman of Portland Holdings. Previously, he has invested in AIC and National Commercial Bank Jamaica. A majority of his wealth stems from his 65 percent stake in National Commercial Bank, Jamaica.

Angolan business mogul, Isabel Dos Santos

Isabel Dos Santos ($1.6 billion)

Isabel Dos Santos is the second-richest Black woman in the world, with investments in Angola’s largest mobile phone network, Unitel, the country’s fourth-largest bank Banco BIC, oil and gas firm Galp Energia and in Portuguese media company Nos SGPS. 

The first black man to grace Forbes’ list

Patrice Motsepe ($1.4 billion)

Patrice Motsepe was the first Black African to appear on the Forbes list. His wealth is well-built in the mining industry through his company, African Rainbow Minerals. In 2016, he founded African Rainbow Capital, a private equity firm aimed at investing in Africa.

Techpreneur giant, Mohammed Ibrahim

Mohammed Ibrahim ($1.4 billion) 

Mohammed Ibrahim is another telecommunications giant making waves in the world of telecommunication. He is a pioneer for his initiative of creating one of Africa’s first mobile phone companies, Celtel International. The company has since been sold to Kuwait’s Mobile Telecommunications Company. Today, Ibrahim has a foundation that works to combat corrupt leadership in Africa continent. 

Zimbabwean billionaire, Strive Masiyiwa

Strive Masiyiwa ($1.1 billion)

Strive Masiyiwa is a techpreneur giant, with his investment into telecommunications. After facing opposition from the Zimbabwean government, Masiyiwa created mobile phone network, Econet Wireless Zimbabwe in 1998. Masiyiwa owns more than 50 percent of Econet Wireless Zimbabwe, more than 50 percent of fiber-optic and satellite services provider Liquid Telecom and stakes in mobile phone companies in Burundi and Lesotho.

Kanye West, American rapper and owner of Yeezy collections

Kanye West ($1.3 billion)

Kanye West made history as hip hop’s second Black billionaire after much back and forth with Forbes to make their list for 2020. Most notably, his wealth derives from stakes in his very well thriving sneaker brand, Yeezy, a partnership with adidas, that banks at over $3 billion as declared by Bank of America in 2019. His enterprise also circumvents around investments with millions in real estate, a car collection, and hundreds of thousands in livestock, according to Business Insider. 

Shawn “Jay-Z” Carter

Jay-Z ($1 billion)

As hip hop’s first Black billionaire, rapper and businessman Jay-Z set the bar high for artists with a net worth of $1 billion. In addition to being a legendary compere, Jay-Z’s fortune stems from his diverse business ventures. His business moves include partnerships with Armand de Brignac champagne, D’Ussé cognac, investments, and of course, music tours.

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