Becoming a billionaire is already a rare occurrence. But becoming a Black billionaire is even rarer. Out of the more than 600 billionaires in the world, less than 10 are Black.
But some Black millionaires are nipping at their heels and with a couple more smart investments and business dealings they might pass the threshold.
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NBA Hall of Famer Magic Johnson made even more money after his professional playing career was over. After retiring, Magic launched his own business, Magic Johnson Enterprises, which has given the NBA legend a net worth of $620 million. He is currently a minority owner of the Los Angeles Lakers and the Los Angeles Dodgers.
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Reigning NBA Finals MVP currently has a net worth of $160 million. But, he’s also rumored to be signing a $1 billion lifetime contract with Under Armour, similar to what LeBron James did with Nike less than a decade ago. Maybe sooner rather than later, Curry will be jogging James and Michael Jordan as NBA billionaires.
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Music executive and hip-hop mogul Diddy is right on the verge of becoming a billionaire. With a current net worth of $900 million. He is the founder of Bad Boy Records, has a majority stake in Revolt TV and gets a 50 percent share of the profits from the Cîroc vodka brand.
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Dr. Dre currently is a hip-hop producer and executive that has a net worth of $500 million. In 2014, his headphone brand, Beats by Dre was acquired by Apple for $3 billion in cash, making it the biggest acquisition in its history. He is also the founder and CEO of Aftermath Entertainment.
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Queen Bey currently has a net worth of $500 million thanks to her wildly successful music career. Her most recent album, Renaissance, became an instant hit and is already one of the best-selling albums of 2022.
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Dwayne Johnson is one of the richest actors/entertainers in the world; almost no one makes more than him. He can thank his wildly successful acting career for his fortune. The Rock currently has a net worth of $800 million.
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What can be said about Drake that hasn’t already been said? He is simply the most popular hip-hop artist in the world which got him deals with Nike, Sprite, the Toronto Raptors and Universal Music Group. As a result, he has a net worth of $260 million.
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The man who is partly responsible for Drake’s success also has a case to be the next hip-hop mogul to reach billionaire status. Birdman is the co-founder of Cash Money records, which at one point was the home of Lil Wayne, Drake and Nicki Minaj all at the same time. He currently has a net worth of $125 million.
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The queen of divas, Mariah Carey has one of the best voices in the history of music and was, at one point, the biggest pop star in the world. She has produced a plethora of hit records throughout her 30-year music career. While she has plenty of music to point her success to, “All I Want for Christmas” is simply one o the most popular Christmas songs ever and will help her increase her net worth more than anything else. She currently has a net worth of $320 million.
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Kevin Durant is one of the best NBA players in the world and also one of the highest-paid athletes. He currently has a net worth of $170 million, in part thanks to his $300 million contract with Nike and his contract with the Brooklyn Nets. He is also the owner of Boardroom, a media company.
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Rhimes is the Queen of her own television empire. She is the creator of some of the most popular television shows in the 21st Century including Grey’s Anatomy, Scandal, Private Practice, How to Get Away with Murder and Bridgerton. She now has a net worth of $140 million.
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Denzel is simply one of the best and most successful actors in the history of Hollywood. As a result of his uncanny abilities, he has gained both monetary and critical success. He currently has a net worth of $280 million.
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One of the most dominant big men in the history of the NBA is also one of the league’s most exciting personalities and businessmen. I mean you can’t watch TV for two minutes without seeing a commercial with Shaq in it. He is also a shareholder of Authentic Brands Group, a company responsible for the acquisitions of brands such as Forever 21, Reebok, Barneys New York and JCPenney. His net worth in 2022 has reached $400 million.
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Kevin Hart is one of the funniest and hardest-working people in Hollywood. He currently has a net worth of $450 million thanks to his stake in Hartbeat, a media venture worth nearly $650 million.
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While his Chris Rock slap might still be at the top of most people’s minds, Will Smith is still one of the most popular and successful actors in Hollywood. He can thank his dynamic acting career and successful moviemaking for his current net worth of $375 million.