Black Billionaires

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BLACK BILLIONAIRES

(Ref. Forbes Magazine)

Year = 2022 (qty. = 15)

1) Aliko Dangote, Nigerian, US$11.5 Billion

Aliko Dangote is the wealthiest Black person in the world. Dangote derives most of his wealth from his 85-percent stake in Dangote Cement Plc, Africa’s largest cement producer. He also also owns stakes in Dangote Sugar Refinery, a leading sugar manufacturer, and the publicly traded salt company NASCON Allied Plc.He also owns a $12-billion oil refinery, which is currently under construction, as well as a fertilizer refinery in Nigeria that has also yet to commence production.

2) Mike Adenuga, Nigerian, US$6.1 Billion

Mike Adenuga is a Nigerian billionaire who made his first million in 1979 at age 26, selling lace and soft drinks. He derives the majority of his net worth from the mobile telecom company, Globacom. Globacom is Nigeria’s second-largest telecom operator with a presence in Ghana and Benin. The billionaire also has a majority interest in Conoil Plc, a leading petroleum marketer in Nigeria, and Conoil Producing, an oil exploration company.

3) Robert F. Smith, American,US$6 Billion

Robert F. Smith is a U.S. businessman and philanthropist who derives the majority of his wealth from Vista Equity Partners, a private equity firm founded in 2000 with investments in software companies. The company has more than $50 billion in assets, with annualized returns of 22 percent since its inception.

4) Abdul Samad Rabiu, Nigerian, US$4.9 Billion

Abdul Samad Rabiu is the founder and chairman of BUA Group, a Nigerian conglomerate focused on manufacturing, infrastructure and agriculture. The billionaire derives the majority of his wealth from BUA Cement Plc, a leading cement manufacturer. One of Africa’s most generous philanthropists, he has given tens of millions of dollars to support education and healthcare.

5) David Steward, US$3.7 Billion

As co-founder and chairman of World Wide Technology,one of the world's largest African-American owned businesses. Steward’s rise to the top wasn’t a smooth path; Forbes says he once watched as his car was repossessed from his office’s parking lot. Now, his company has grown from a reseller of technology equipment in 1990 into a leading technology solutions provider. The company recorded $13.4 billion in revenue in 2020.

6) Patrice Motsepe, South African, US$2.9 Billion

Patrice Motsepe is a South African billionaire and president of the Confederation of African Football. The founder of African Rainbow Minerals, he became a billionaire in 2008. Aside from his equity position in the company, he has a stake in Sanlam, a Johannesburg Stock Exchange-listed financial services firm. He is also the president and owner of the Mamelodi Sundowns Football Club, a South African professional football club.

7) Oprah Winfrey, American, US$2.7 Billion

Oprah Winfrey is a U.S. talk show host, TV producer, actress and philanthropist, who is best known for her talk show, “The Oprah Winfrey Show.”

8) Alexander Karp, American, US$2.1 Billion

Born to a Jewish father and an African American mother, Alexander Karp is the co-founder and CEO of Palantir Technologies, a listed U.S. software company, specializing in big data analytics.

9) Kanye West, American, US$1.8 Billion

Hip hop artist turned fashion mogul Kanye West made the majority of his wealth from his “Yeezy” sneaker brand through a fashion collaboration with the German sportswear company, Adidas. In line with the agreement between Adidas and Yeezy, West receives an annual royalty from the German sportswear giant. His Yeezy brand generated a total of $1.7 billion in sales in 2020. In 2020, West also entered a deal with the U.S. clothing and accessories retailer, Gap Inc., to sell a line of “Yeezy” clothing specially designed for Gap.

10) Robyn “Rihanna” Fenty, Barbadian, US$1.7 (not in Forbes)

Rihanna is a Barbados-born musician and entrepreneur. She is the third hip hop artist to become a billionaire. Rihanna is a 50-percent owner in Fenty Beauty, a fast growing cosmetics company that she launched in 2017 as part of a joint venture with the French luxury goods conglomerate, LVMH.

11) Michael Jordan, American, US$1.6 Billion

Michael Jordan is a former U.S. professional basketball player and the chairman and principal owner of the Charlotte Hornets, an NBA team in North Carolina. The bulk of his fortune stems from stakes and royalties in lucrative ventures with corporate partners such as Nike, Hanes and Gatorade.

12) Michael Lee Chin, Jamaican-Canadian, US$1.6 Billion

Michael Lee-Chin is a Jamaican-born billionaire and the chairman and CEO of Portland Holdings Inc., a privately held investment company in Ontario, Canada. He made a fortune investing in financial companies such as National Commercial Bank Jamaica and AIC Limited. The majority of his fortune is derived from his 65-percent stake in National Commercial Bank Jamaica.

13) Strive Masiyiwa, Zimbabwean, US$1.5 Billion

Strive Masiyiwa is a London-based Zimbabwean billionaire. He is the founder of the African mobile telecom giant Econet Group and Liquid Telecom.

14) Shawn “Jay-Z” Carter, American, US$1.4 Billion

Jay-Z is hip hop’s first billionaire. He founded the entertainment company Rock Nation, and also owns stakes in Armand de Brignac and D’Usse cognac. He recently earned $297 million after selling majority stakes in Tidal, his high-fidelity music streaming platform, to the fintech company, Square. The rapper also sold off a 50-percent stake in the champagne brand Armand de Brignac to LVMH’s Moët Hennessy for $320 million.

15) Tyler Perry, American, US$1 Billion

Tyler Perry is an actor who made a billion-dollar fortune from his craft. Perry owns 100 percent of his creative output, including more than 1,200 TV episodes, 22 feature films and at least two dozen stage plays, as well as a 330-acre studio at the edge of Atlanta’s southern limits. A substantial percentage of his $1 billion fortune is derived from his “Madea” franchise, which has grossed more than $660 million.

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Year = 2021 (qty. = 17)

1) Aliko Dangote, Nigerian, US$12.3 Billion

2) Mohammed Al-Amoudi, Ethiopian, US$6.94 billion

Al-Amoudi was the richest Black man globally before Nigerian industrialist and cement tycoon Aliko Dangote ousted him in 2013 to claim the richest Black man title. He was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. The Saudi-Ethiopian tycoon controls a collection of industrial assets in Sweden, Saudi Arabia and Ethiopia, including Sweden’s largest oil refiner Preem, the Svenska Petroleum oil explorer and the Midroc Europe construction and property group.

3) Mike Adenuga, Nigerian, US$6.3 Billion

4) Robert F. Smith, American,US$6 Billion

5) Abdul Samad Rabiu, Nigerian, US$4.5 Billion

6) David Steward, US$3.7 Billion

7) Patrice Motsepe, South African, US$3.1 Billion

8) Oprah Winfrey, American, US$2.5 Billion

Oprah Winfrey is a U.S. talk show host, TV producer, actress and philanthropist, who is best known for her talk show, “The Oprah Winfrey Show.”

9) Alexander Karp, American, US$2.2 Billion

Born to a Jewish father and an African American mother, Alexander Karp is the co-founder and CEO of Palantir Technologies, a listed U.S. software company, specializing in big data analytics.

10) Strive Masiyiwa, Zimbabwean, US$1.8 Billion

Strive Masiyiwa is a London-based Zimbabwean billionaire. He is the founder of the African mobile telecom giant Econet Group and Liquid Telecom.

11) Kanye West, Americanm US$1.8 Billion

12) Robyn “Rihanna” Fenty, Barbadian, US$1.7 (not in Forbes)

13) Michael Jordan, American, US$1.6 Billion

14) Michael Lee Chin, Jamaican-Canadian, US$1.5 Billion

15) Shawn “Jay-Z” Carter, American, US$1.4 Billion

16) Mohammed Ibrahim, Sudanese-British, US$1.1 Billion

Mo Ibrahim is a Sudanese-British billionaire businessman. He sold Celtel International to Kuwait’s Mobile Telecommunications Company for $3.4 billion in 2005. He is worth $1.1 billion.

17) Tyler Perry, American, US$1 Billion

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Year = 2020 (qty. =13 )

1) Aliko Dangote, US$8.3 Billion

The cement and sugar manufacturing guru from Nigeria landed at No. 162 with a net worth of $8.3 billion. He is not only Africa’s richest man but the world’s richest Black man. As the CEO and founder of Africa’s largest cement producer, Dangote Cement. At 62-years-old, Dangote owns 85 percent of the publicly-traded company.

2) Mike Adenuga, US$5.6 Billion

Adenuga is the second richest man in Africa. He ranks at No. 286 with a net worth of $5.6 billion. He secured his wealth through oil and telecom endeavors. At 66-years-old, Adenuga’s mobile communications company, Globacom, has 50 million subscribers.

3) Robert F. Smith, US$5.6 Billion

The United State’s billionaire comes in at No. 330. Smith founded Vista Equity Partners to focus exclusively on investing in software companies in 2000. Now it is one of the greatest private equity firms, according to Forbes, with over $50 billion in assets.

4) David Steward, US$3.5 Billion

As co-founder and chairman of World Wide Technology, Steward’s rise to the top wasn’t a smooth path. Forbes says he once watched as his car was repossessed from his office’s parking lot. Now, Steward lands at No. 538 on the Forbes’ list with a net worth of $3.5 billion.

5) Abdulsamad Rabiu, US$2.9 Billion

With a net worth of $2.9 billion, Rabiu ranks at No. 712. The 59-year-old business mogul owns BUA Group, a cement, sugar, and real estate conglomerate. At the start of this year, Rabiu merged his two powerhouse cement companies, Obu Cement and Cement Co. of Northern Nigeria.

6) Oprah Winfrey, US$2 Billion

Oprah — the richest Black woman in the world — comes in at No. 836 with a net worth of $2.5 billion. According to Forbes, $2 billion of Oprah’s net worth is from reinvestments of her talk show profits.

7) Michael Jordan, US$2.1 Billion

At No. 1001, with a net worth of $2.1 billion, the former NBA legend has built a multi-billion dollar empire. Forbes reports that the six-time NBA champion amassed $1.7 billion (before taxes) of his net worth from corporate partnerships.

8) Michael Lee-Chin, US$2 Billion

The Jamaica native comes in at No. 1063 with a net worth of $2 billion. He built his empire by investing in companies like National Commercial Bank Jamaica and AIC Limited.

9) Isabel dos Santos, US$1.4 Billion

As the eldest daughter of Jose Eduardo dos Santos, Angola’s former president, Isabel made No. 1513 on the list with a net worth of $1.4 billion. She is a stakeholder in many Angolan telecommunication and banking companies.

10) Patrice Motsepe, US$1.4 Billion

At No. 1513, Motsepe has a net worth of $1.4 billion. The South African founder became a billionaire in 2008. He was the first Black African to appear on the Forbes list. He is the founder and chairman of African Rainbow Minerals, a mining company.

11) Strive Masiyiwa , US$1.1 Billion

Hailing from Zimbabwe, Masiyiwa falls at No. 1851 with a net worth of $1.1 billion. In 1998, Masiyiwa founded Econet Wireless Zimbabwe, a mobile phone network company. Forbes reports that he owns over 50 percent of the publicly-traded company.

12) Mohammed Ibrahim , US$1 Billion

Mohammed “Mo” Ibrahim — founder of Celtel International — comes in at No. 1851 as well. According to Forbes, his company was one of the first of its kind in Africa and the Middle East. Ibrahim sold Celtel International to Kuwait’s Mobile Telecommunications for $3.4 billion and kept $1.4 billion in 2005.

13) Jay-Z, US$1 Billion

Hip hop’s first billionaire comes in at No.1990 with a net worth of $1 billion. According to Forbes, Jay-Z and Beyoncé’s On the Run II tour made $5 million a night for a total of $250 million. He also makes millions with his Armand de Brignac champagne and D’Ussé cognac.

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Year = 2019 (qty. = 13)

(Click here to see their pictures etc.)

Of the 2,153 people who made it to the 2019 FORBES list of the World’s Billionaires, 13 of them are Black, up from 11 a year ago.

Cement tycoon Aliko Dangote is still the richest Black person in the world with a fortune estimated at $10.9 billion. He’s closely followed by Nigerian oil and telecoms mogul Mike Adenuga.

American businessman David Stewart, who is majority owner of World Wide Technology, an $11.2 billion (sales) IT provider, whose customers include Citi, Verizon and the federal government, joins the Black Billionaires Club with a fortune FORBES estimates at $3 billion. Nigerian businessman Abdulsamad Rabiu, who made his fortune in cement, flour, edible oils and real estate, returns to the 3-Comma club after a multi-year hiatus. He last featured on the FORBES list of the World’s Billionaires in 2014. In December 2018, Rabiu merged his privately owned Kalambaina Cement Company with listed firm Cement Co. of Northern Nigeria, which he controlled. The new, larger company has a market capitalization of more than $800 million, with Rabiu owning more than 90% of the company’s stock. The value of his shares in the new Cement Co. of Northern Nigeria provided a shot in the arm to his fortune, which FORBES estimates at $1.6 billion.

Nigeria’s Folorunsho Alakija, American TV mogul Oprah Winfrey and Angolan investor Isabel dos Santos still remain the only Black female billionaires in the world.

These are the 13 richest Black people on earth:

1) Aliko Dangote, $10.9 billion (Nigerian, Sugar, Cement, Flour)

The Cement and commodities tycoon retains his title as the world’s richest Black man this year. After building his fortune in sugar, flour and cement, the Nigerian tycoon is embarking on his most ambitious project to date- a private oil refinery in Nigeria which will have a refining capacity of 6500,000 barrels a day and is expected to reduce Nigeria’s dependence on oil imports. Dangote started out in business more than 3 decades ago by trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle and went on to build the Dangote Group, the largest industrial conglomerate in West Africa.

2) Mike Adenuga, $9.1 billion (Nigerian, Oil, Telecoms)

Nigerian-born Mike Adenuga, the world’s second richest Black person, built his fortune in oil and mobile telecoms. His Conoil Producing Company was one of the first indigenous Nigerian companies to be granted an oil exploration license in the early 90s. The company is the operator of six blocks in the Niger Delta and also owns a25% stake in the Joint Development Zone (JDZ) Block 4. He is also the founder and sole owner of Globacom, a Nigerian mobile phone network that has more than 40 million subscribers in Nigeria and neighboring African countries. His property company, Cobblestone Properties, owns hundreds of prime residential and commercial property all over Nigeria.

3) Robert F. Smith, $5 billion (American, Private Equity)

Robert F. Smith, a former Goldman Sachs executive, is the founder of private equity firm Vista Equity Partners that focuses exclusively on investing in software companies. The firm has more than $46 billion in assets and is one of the best-performing private equity firms, posting annualized returns of 22% since inception.

4) David Steward, $ 3 billion (American, Tech)

David Steward is the cofounder and chairman of IT provider World Wide Technology, World Wide Technology, an $11.2 billion (sales) IT provider, whose customers include Citi, Verizon and the federal government.

5) Oprah Winfrey, $2.5 billion (American, Television)

Oprah is still the richest African-American woman in the world thanks largely to the 25 years of her profitable daytime TV show and earnings from her Harpo production company. Her cable channel, OWN (Oprah Winfrey Network) is also cash flow positive for the first time and is enjoying favorable ratings as a result of securing exclusive TV interviews with headline-grabbers like disgraced cyclist Lance Armstrong, Beyonce and gay NBA player Jason Collins. One of America’s most generous philanthropists, Oprah continues to give to education causes and has spent about $100 million on the Oprah Winfrey Leadership Academy for Girls in South Africa.

6) Strive Masiyiwa, $2.4 billion (Zimbabwean, Telecoms)

Masiyiwa, who is worth $2.4 billion, is the founder of Econet, one of the leading mobile telecoms companies in Africa. It has more than 10 million subscribers spread across Zimbabwe, Botswana, Burundi and Lesotho. In February, he pledged the sum of $100 million to establish a fund to invest in rural entrepreneurs in Zimbabwe.

7) Isabel Dos Santos, $2.3 billion (Angolan, Investments)

The oldest daughter of Angola’s former president, Isabel dos Santos has built an impressive investment portfolio what includes a 25% stake in Angolan mobile phone company Unitel and a 25% stake in Angolan bank Banco BIC SA. Other holdings include a substantial stake in Nos SGPS, a Portuguese cable TV company and just under 20% of Banco BPI, one of Portugal's largest publicly traded banks.

8) Patrice Motsepe, $2.3 billion (South African, Mining)

South Africa’s first and only Black billionaire is the founder of African Rainbow Minerals (ARM), a Johannesburg Stock Exchange-listed mining company that has in platinum, nickel, chrome, iron, manganese, coal, copper and gold. He also owns a large stake in African Rainbow Capital, a private equity firm focusing on investments in the financial services sector.

9) Michael Jordan, $1.9 billion (American, Basketball)

Basketball's greatest player is the majority shareholder of Charlotte Bobcats and enjoys lucrative deals with the likes of Gatorade, Hanes and Upper Deck. His biggest pile comes from Brand Jordan, a $1 billion (sales) sportswear partnership with Nike.

10)Michael Lee-Chin, $1.9 billion (Canadian/Jamaican, Investments)

Lee-Chin, a Canadian of Jamaican origin, made a fortune investing in financial companies. He owns a 65% stake in National Commercial Bank Jamaica, which makes up the bulk of his fortune.

11) Abdulsamad Rabiu, $1.6 billion (Nigerian, Cement, Sugar)

Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate with interests in sugar refining, cement production, real estate, steel, port concessions, manufacturing, oil gas and shipping. BUA Group’s annual revenues are estimated at over $2 billion. Abdulsamad got his start in business working for his father, Isyaku Rabiu, a successful businessman from Nigeria’s Northern region. He struck out on his own in 1988, importing rice, sugar, edible oils as well as steel and iron rods.

12) Folorunsho Alakija, $1.1 billion (Nigerian, Oil)

Nigeria’s first female billionaire is the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil block on the Agbami deep-water oilfield in Nigeria. Alakija started off as a secretary in a Nigerian merchant bank in the 1970s, then quit her job to study fashion design in England. Upon her return, she founded a Nigerian fashion label that catered to upscale clientele, including Maryam Babangida, wife to Nigeria's former military president Ibrahim Babangida.

13) Mohammed Ibrahim, $1.1 billion (British, Mobile Telecoms, Investments)

Sudanese-born Mohammed "Mo" Ibrahim founded Celtel International in 1998, one of the first mobile phone companies serving Africa and the Middle East. He sold it to Kuwait's Mobile Telecommunications Company for $3.4 billion in 2005 and pocketed $1.4 billion. In 2006 he founded the Mo Ibrahim Foundation which promotes good governance in Africa.

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