The Richest Black People in the World [UPDATED]

Finally reaching a milestone he’s been working toward his entire career, Sean “Diddy” Combs has officially become a billionaire. With a net worth of $1 billion, the bulk of his wealth comes from his Cîroc partnership with Diageo, his half ownership of DeLeón Tequila, his majority stake in Revolt, as well as music recordings and publishing. No matter how you feel about the sometimes controversial figure, you have to admire Diddy’s self-belief and confidence that he would always reach this level of success.

She sings, she acts, she creates billion dollar beauty and fashion lines. There’s nothing Rihanna can’t do. The Barbados native makes her first appearance on Forbes’ list with the majority of her $1,7 billion coming from her ownership stakes in Fenty Beauty and Savage x Fenty. Now comes news that she might getting into the hair care business, with the possibility of Fenty Hair becoming a reality. If you need to know how to build your brand into something people can’t live without, look no further than the Grammy-winning self-made billionaire.

People love a comeback story and no one has made a bigger comeback than Tiger Woods. After a car accident that injured his legs so badly there were questions whether he would walk again, the golf superstar returned to competition at the 2022 Masters. His rise back to the top continues with news that he’s now officially a billionaire. The 15-time major champion has racked up $1.7 billion in earnings, endorsements and other income. Guess we know why he was able to turn down an offer from the controversial new LIV Golf tour that was reportedly in the “high nine digits.”

It’s no surprise that LeBron James has had unparalleled success as a basketball player, it’s what everyone expected from the young phenom from Akron, Ohio. However, the way he has used his athletic talent to move into other business ventures is truly inspiring. And now all his hard work has paid off, as LeBron can now officially call himself a billionaire. While a big chunk of his wealth comes from his NBA earnings, the majority of it, just around $900 million comes from endorsements and other avenues like his Springhill Entertainment production company, which has worked on projects like Survivor’s Remorse, Self Made and Space Jam: A New Legacy. And did we mention he built a school for underprivileged kids, so he’s setting the table for future billionaires.

From OWN to Harpo Productions to her deal with AppleTV+, media mogul Oprah Winfrey has worked in nearly every genre of the entertainment business. From breaking out as Sofia in The Color Purple to producing the upcoming movie musical, Oprah has evolved into a legit badass boss who has redefined the entertainment industry.

As the founder and chairman of Dangote Cement, Africa’s biggest cement producer, Aliko Dangote owns 85 percent of the company. In the wake of Russia’s invasion of Ukraine, his recently opened fertilizer plant has become very successful, counting the U.S., Brazil and India as customers. There are also plans for an oil refinery to open later this year. And in case you’re wondering where we stand, the richest Black person in the world is No. 130.

A true rags to riches story, Nigerian businessman Mike Adenuga has come a long way since his days driving a cab while in college. His mobile network Globacom has 55 million subscribers, while his oil company Conoil Producing, “operates 6 oil blocks in the Niger Delta.”

Vista Equity Partners founder Robert F. Smith is most well-known for a 2019 Morehouse College commencement speech where he said he would pay off the student debt of the entire graduating class. Per Inside Higher Ed, he followed through with the promise, paying off $34 million in debt. Vista holds $92 billion in assets, and has posted “annualized returns of 22% since inception,” making it “one of the best-performing private equity firms.”

Abdulsamad Rabiu owns 98.5 percent of BUA Cement Plc, which comprises his two companies Obu Cement and Cement Co. of Northern Nigeria. Cement may not be the most exciting or sexiest investment, but it’s clearly profitable. Construction and development seems to be big business in Africa.

David Steward is one of the most powerful owners of a major tech firm. He owns IT company World Wide Technology, which counts Verizon and the federal government among its customers. It’s past time to get more Black tech entrepreneurs in the game.

As the first Black African to be featured on Forbes’ billionaires list back in 2008, Patrice Motsepe has his wealth in several businesses around the continent. He is the founder and chairman of African Rainbow Minerals, as well as private equity firm African Rainbow Capital, which re-invests in Africa. Most importantly in a continent obsessed with football (soccer), is that he owns the Mamelodi Sundowns Football Club and was elected president of the Confederation of African Football in March 2021.

African telecom mogul Strive Masiyiwa’s Econet Group and Liquid Telecom have brought mobile networks and fiber optics to countries across the continent, including his native Zimbabwe. It’s really fascinating to see how tech and telecom has grown as an industry in Africa. It would be great to see more Black ownership in the industry here in the U.S.

Jamaica native Michael Lee-Chin has seen his investments in National Commerce Bank Jamaica and AIC hit ups and downs, but through savvy management and acumen he has seen his wealth rise to $1.9 billion. As Jamaica makes a push to become more independent, it will be interesting to see how the country grows financially.

His basketball career may be long over, but Michael Jordan is still making plenty of money off his playing days. His deals with companies like Nike, Hanes and Gatorade, as well as his ownership of the NBA’s Charlotte Hornets and a NASCAR team have taken him well beyond the $90 million he made as a player.

Jay-Z might be the definition of diversified portfolio. In addition to his media company Roc Nation, the “99 Problems” rapper also has investments in Armand de Brignac champagne, D’Ussé cognac and an extremely valuable fine art collection contributing to his $1.4 billion worth. And most important of all, he’s married to Beyonce.

Data mining might be creepy but apparently it’s also profitable. Palantir Technologies co-founder/CEO Alexander Karp has the Department of Defense, FBI and the Danish National Police on his call sheet as clients, so if you don’t hear from me after this is published...

Well I guess if you keep all the jobs on set for yourself and don’t hire anyone else, you get to keep all the money. Writer/director Tyler Perry has roughly 4,000 shows on TV and they’re all on BET+. In all seriousness, the unrelenting success of his library of movies continues to push him to financial heights. As we saw with his recent return in A Madea Homecoming it’s clear people will never get tired of seeing him or his signature character.