The number of black billionaires globally has steadily increased since 2001. Most of the billionaires amassed fortunes from sectors such as private equity finance, computer software development, media production, entertainment, and recreation.
Interestingly, a fraction of black billionaires from Africa and Arabic countries built their fortunes through construction, extraction of natural resources, and trading in wholesale goods.
While there are 2,640 billionaires worldwide, black billionaires are less than 1%. Here are 17 black billionaires who have indeed amassed a fortune.
1. Oprah Winfrey
Oprah Winfrey’s estimated net worth is $2.6 billion. Over the years, the media and entertainment mogul has become a popular talk show host and now has her own channel, a business empire that has achieved immense success.
Oprah has streaming deals with Apple TV and Netflix. Her fortune also spreads to her lucrative brand ambassador partnership with Weight Watchers.
2. Micheal Jordan
Michael Jordan, a six-time former NBA champion, made part of his fortune as an NBA player. However, he has continued to be busy past his retirement, partnering with corporate brands like Hanes, Nike, and Gatorade. Investment opportunities with companies like NASCAR and DraftKngs have also allowed Jordan to amass his fortunes.
With an estimated net worth of $2.2 billion, Michael Jordan now owns a majority stake in the NBA club Charlotte Hornets.
3. Mike Adenuga
Mike Adenuga is originally from Nigeria. He is the founder and chairman of Globacom, a mobile phone network in Nigeria with over 50 million subscribers. He also has an oil exploration company in the Niger Delta.
Mike’s net worth is estimated to be around $6.1 billion. At 26, he made his first million distributing soft drinks and selling laces.
4. Aliko Dangote
Aliko Dangote is the CEO and president of Dangote Group. The conglomerate has companies in cement and agriculture, which play crucial roles in Nigeria’s economy. With an estimated net worth of $13.5 billion, Nigerians’ wealth primarily comes from Dangote Cement.
5. Patrick Motsepe
Patrick Motsepe was the first black African to be on the Forbes list. He first attained his billionaire status in 2008 as a founder of African Rainbow Minerals. With a net worth of $3.3 billion, Motsepe also owns Mamelodi Sundowns Football Club and is the president of the Confederation of African Football.
6. David Steward
David Steward’s estimated net worth is $5.8 billion. He is the chairman and co-founder of World Wide Technology, an IT company that generates over $13 billion annually. Steward has gained his fortunes through technology and supply chain solutions. The 71-year-old also owns Telcobuy, another IT company that offers networking services and data security.
7. Robert Smith
Robert Smith’s estimated net worth is $9.2 billion. He founded Vista Equity Partners, a private equity firm that invests in software companies. Robert has a business administration and chemical engineering background, having worked for several businesses.
8. Strive Masiyiwa
Strive Masiyiwa has an estimated net worth of $1.9 billion. He is the founder of Econet Wireless Zimbabwe. His fortune has mainly come from Telecom.
9. Tyler Perry
Tyler Perry, a renowned filmmaker, actor, and playwright character, has a net worth of $1.1 billion. His wealth comes from his extensive work in TV and film production. He also has partnerships with brands like Coca-Cola and Nike. Tyler has other business ventures, including a startup in Blaze Pizza, and now owns Tyler Perry Studios in Atlanta.
10. Micheal Lee-Chin
Micheal Lee-Chin, a Jamaican businessman, made his first billion by investing in financial companies like AIC Limited and National Commercial Bank Jamaica. With an estimated net worth of $1.9 billion, Micheal is also the founder of Portland Holdings, a private investment company.
11. LeBron James
LeBron James has amassed his health from sports and endorsement deals with companies like Coca-Cola, Nike, and Beats by Dre. He has an estimated net worth of $1.2 billion and now owns SpringHill Entertainment, a media company.
12. Mo Ibrahim
Mo Ibrahim was born in Sudan before moving to the United Kingdom. The 71-year-old became a billionaire after selling Celterl International, a telecommunications company. He has an estimated net worth of $1.2 billion.
13. Jay-Z
Jay-Z or Shawn Carter made his billions from music and business ventures. With an estimated net worth of $2.5 billion, the famous rapper has stakes in companies like Roc Nation, Tidal, and Armand De Brignac champagne. He also owns stakes in Block and Uber.
14. Abdul Samad Rabiu
Abdul Samad Raniu’s estimated net worth is $8.3 billion. The Nigerian national owns stakes in BUA foods and BUA cement and invests in real estate.
15. Rihanna
Rihanna or Robyn Fenty has an estimated net worth of $1.7 billion. The global pop icon made her wealth through music and Fenty, a cosmetics brand. She also owns a stake in Savage X Fenty, a growing lingerie brand.
16. Alex Karp
Alex Karp is the CEO and co-founder of Palantir Technologies, a software company that specializes in big data analytics. He is worth $2 billion.
17. Kanye West
Kanye West has achieved success in music and fashion. He has achieved record-breaking music sales and ventured into business. Kanye owns Yeezy, a fashion brand that generates $200 million annually. He also has brand partnerships with GAP and Adidas. Kanye’s net worth stands at $2.1 billion.
These 17 black billionaires have achieved incredible success in different sectors. Over the years, their entrepreneurial spirit, determination, and innovation inspire others to pursue their dreams.
