According to Forbes, out of 2,755 billionaires in the world, only 16 are Black!
Throughout the years, Black people have shown how vital resilience, hard work, dedication and consistency is even in the face of possibilities; there is hardly any niche, industry or sector in the world today without a leading Black individual.
Here is a list of 16 Black Billionaires in the world today and the source of their wealth.
1. Aliko Dangote – 12.7 billion dollars.
Chairman and CEO Dangote Group.
Dangote Group is the largest Conglomerate group in Africa with over 30,000 staff and over 4.1 billion dollars revenue yearly.
The Nigerian born Businessman Aliko Dangote is the great-grandson of Alhassan Dantata, the wealthiest West African at his death (1952).
Dangote group has dominance over the sugar and refinery business in Nigeria, It has the largest refinery in Nigeria and the third-largest in the world. They own salt factories and flour mills and import rice, fish, pasta, cement, and fertilizer.
They also export cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries and have significant investments in real estate, banking, transport, textiles, oil, and gas.
2. Abdul Samad Isyaku Rabiu – 6.9 billion dollars.
Founder and Chairman of BUA group.
Abdul Samad Isyaku Rabiu’s late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure, and agriculture which produces revenue over $2.5 million.
3. Mike Adenuga – 7.2 billion dollars.
CEO of Globacom, Conoil.
Mike Adenuga is a Nigerian billionaire businessman. His company, Globacom, is Nigeria’s second-largest telecom operator, which is in Ghana and Benin. He owns stakes in the Equitorial Trust Bank (now merging with Sterling bank) and the oil exploration firm, Conoil (formerly Consolidated Oil Company).
GLO has over 45 million subscribers, and, as of 2018, is the second-largest network operator in Nigeria.
4. Robert Smith – 6 billion dollars.
Founder, Chairman, and CEO of VistaEquity Partners private equity and venture capital firm.
Robert Smith is an American businessman. As of 2019, Vista Equity Partners was the fourth-largest enterprise software company after Microsoft, Oracle, and SAP. As of June 2021, Vista had more than $81 billion in assets under management.
5. David Steward – 3.7 billion dollars.
Founder, World Wide Technology.
David Stewart is an American businessman and is the chairman and founder of World Wide Technology, one of the largest African-American-owned businesses in America.
World Wide Technology’s 2018 revenue is estimated to be greater than $11 billion.
6. Patrice Motsepe – 2.9 billion dollars.
A South African mining billionaire.
Since March 12, 2021, Patrice has served as President of the Confederation of African Football. He is also the founder of African Rainbow Minerals Limited, a mining company based in South Africa. ARM has interests in a wide range of mines, including platinum and platinum group metals (PGMs), iron, coal, copper, and gold. He is also the owner of the football club Mamelodi Sundowns and the non-executive chairman of Harmony Gold.
7. Oprah Winfrey – 2.7 billion dollars.
Talk-show host, actress, author, and TV host.
Best-known for her talk show, The Oprah Winfrey Show, Oprah is the founder of Harpo Inc. (or Harpo Studios) and The Oprah Winfrey Network (OWN).
She was once the richest African American of the 20th century and the world’s only Black billionaire.
Oprah is the most outstanding Black philanthropist in U.S. history and was sometimes ranked as the most influential woman in the world.
8. Strive Masiyiwa – 2.7 billion dollars.
Chairman and Founder of Econet wireless.
Strive Masiyiwa owns just over 50% of the publicly-traded Econet Wireless Zimbabwe, one of his giant Econet Group. Masiyiwa also owns just over half of the private company Liquid Telecom, which provides fiber optic and satellite services to telecom firms across Africa.
His other assets include stakes in mobile phone networks and investments in fintech and power distribution firms in Africa.
9. Ye (formerly known as Kanye West)- 1.8 billion dollars.
Rapper, music producer, and fashion designer.
Ye has sold more than 160 million music records and has won 22 Grammy awards. He has an ongoing fashion collaboration with Adidas and a former collaboration with Nike. Ye is also the founder of GOOD Music.
10. Rihanna – 1.7 billion dollars.
Actress, musician, fashion designer, and businesswoman.
The Barbadian born singer has made over 250 million records worldwide; her accolades include nine Grammy Awards, 13 American Music Awards, 12 Billboard Music Awards, and six Guinness World Records.
She is the cosmetics brand Fenty Beauty and fashion house Fenty under LVMH.
Rihanna is the first Black woman to head a luxury brand for LVMH.
11. Michael Jordan – 1.6 billion dollars.
Former professional basketball player and businessman.
Jordan played 15 seasons in the NBA, winning six championships with the Chicago Bulls.
He is the principal owner and chairman of the Charlotte Hornets of the NBA and 23XI Racing in the NASCAR Cup Series.
12. Michael Lee-Chin – 1.6 billion.
CEO Portland Holdings, chairman Mandeville Holdings.
Michael Lee-Chin is a Jamaican-Canadian billionaire businessman, philanthropist, and the chairman and CEO of Portland Holdings Inc, a privately held investment company in Ontario, Canada
Lee-Chin is also the chairman and director of Mandeville Holdings Inc. and Executive Chairman, CEO, and Portfolio Manager of Portland Investment Counsel Inc.
13. Shawn Corey Carter (Jay-Z ) – 1.4 Billion dollars.
American rapper, songwriter, record executive, entrepreneur, media proprietor, and former CEO of Def Jam Recordings.
Jay-Z founded the clothing retailer Rocawear, and in 2003, he founded the luxury sports bar chain, 40/40 Club. Both businesses have grown to become multi-million-dollar corporations and allowed him to start up the entertainment company, Roc Nation, in 2008.
In 2015, he acquired the tech company Aspiro and took charge of their start-up service, Tidal. In 2020, he launched “Monogram”, a line of cannabis products.
Jay-Z has sold over 125 million records and won 23 Grammy Awards.
14. Mohammed “Mo” Ibrahim – 1.1 billion dollars.
Founder, Celtel.
Mohammed Ibrahim is a Sudanese-British billionaire businessman. He worked for several telecommunications companies before founding Celtel, which, when sold, had over 24 million mobile phone subscribers in 14 African countries.
15. Folorunsho Alakija – 1 billion dollars.
Group Managing Director, Rose of Sharon Group and Vice-Chairman of Famfa OilLimited.
Folorunsho Alakija is a Nigerian -born businesswoman and is involved in the fashion, oil, real estate, and printing industries.
She is the Group Managing Director of The Rose of Sharon Group, which consists of The Rose of Sharon Prints & Promotions Limited, and Digital Reality Prints Limited. She is also Executive Vice-Chairman of Famfa Oil Limited.
Folorunsho Alakija is also a renowned philanthropist
16. Tyler Perry – 1 billion dollars.
American actor, director, producer, and screenwriter.
In 2011, Forbes listed him as the highest-paid man in entertainment, earning 130 million dollars between May 2010 and May 2011.
Perry has developed multiple television series, most notably Tyler Perry’s House of Payne, which ran for eight seasons on TBS from June 21, 2006, to August 10, 2012. On October 2, 2012, he also struck an exclusive multi-year partnership with Oprah Winfrey and her Oprah Winfrey Network.
Which of these Billionaires is your favorite?
Drop in the comment below!
Work Cited
Forbes
Wikipedia
Jessica Uchechi Nwanguma is a Writer, Content and Social Media Strategist. She has a degree in Dental Technology and several certifications and has taken courses on Writing, SEO and digital and content marketing. Her book ‘Beyond Agadez: the untold stories of the victims of human trafficking and organised crime.’ is available on Amazon Kindle. She can be found online on Candour.substack.com.
