From Jay-Z and LeBron James, to Oprah Winfrey and Rihanna, some of our favorite Black celebs have reached billionaire status and continued to inspire us with their rise to fame and success. Whether they amassed it through the music industry, sports, tech, media or otherwise, the fact that a handful of our people have made it into the upper economic echelons is a feat to behold.
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And while we know conversations about rich Black folk and elitism are running rampant on social media right now, it’s still worth looking into a handful of those who’ve accumulated insane levels of wealth. Yes, it’s true capitalism won’t save us. But we’d be lying if we said we weren’t a bit intrigued at some of its benefits for the small, select, suuuper-rich few.
So, keep reading and check out the list of the richest Black people in the world as of this year, according to Forbes.
Jay-Z: $2.5 Billion
Jay-Z might be the definition of a 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 now $2.5 billion worth. He recently sold his controlling stake in D’Ussé for $750 million, making him far and away the wealthiest figure in rap.
Rihanna: $1.4 Billion
She sings, she acts, and 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 $ 1.4 billion coming from her ownership stakes in Fenty Beauty and Savage x Fenty. If you need to know how to build your brand into something people can’t live without, look no further than the Grammy Award-winning self-made billionaire.
Tiger Woods: $1.4 Billion
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 that there were questions about 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 $1.4 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.”
LeBron James: $1.3 Billion
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 significant part of his wealth comes from his NBA earnings, the majority of it 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?
Oprah Winfrey: $3 Billion
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 movie musical, Oprah has evolved into a legit badass boss who has redefined the entertainment industry.
Aliko Dangote: $23.9 Billion
As the founder and CEO of Dangote Cement, Africa’s biggest cement producer, Aliko Dangote is at the top of the list when it comes to the richest Black folks. In the wake of Russia’s invasion of Ukraine, his recently opened fertilizer plant became very successful, counting the U.S., Brazil and India as customers. Plans for an oil refinery in 2024 also proved to be successful, bringing in an additional $10.5 billion to his fortune. And in case you’re wondering where he stands on the list of the richest people in the world in general, he’s No. 83.
Mike Adenuga: $6.8 Billion
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.” But we would expect nothing less from a man who became a millionaire at just 26.
Robert F. Smith: $10.8 Billion
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 $100 billion in assets making it “one of the best-performing private equity firms.”
Abdulsamad Rabiu: $5.1 Billion
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. Rabiu also brings home million thanks to his endeavors in sugar refining and real estate, per Forbes.
David Steward: $11.4 Billion
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. According to Forbes, WWT generates $20 billion in revenue annually.
Patrice Motsepe: $3 Billion
As the first Black African to be featured on Forbes’ billionaires list 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), he owns the Mamelodi Sundowns Football Club and was elected president of the Confederation of African Football in March 2021.
Strive Masiyiwa: $1.2 Billion
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. He also sits on the boards of Netflix and the Gates Foundation, per Forbes. 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.
Michael Lee-Chin: $1.1 Billion
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 $1.1 billion. As Jamaica makes a push to become more independent, it will be interesting to see how the country grows financially and what Lee-Chin’s role will be in that, especially considering he owns 60 percent of the National Commerce Bank.
Michael Jordan: $3.5 Billion
His NBA 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.
Alexander Karp: $8.4 Billion
Data mining might be creepy but apparently, it’s also apparently profitable. After Palantir Technologies co-founder/CEO Alexander Karp went public in 2020, he had “a market capitalization of nearly $200 billion,” per Forbes. Karp also has the Department of Defense, FBI and the Danish National Police on his call sheet as clients.
Tyler Perry: $1.4 Billion
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 10,000 shows on TV and they’re all on BET+ (just kidding, it’s not that many but he has put out a lot with the Paramount Global-owned platform). In all seriousness, the unrelenting success of his “Madea” movies continues to push him to financial heights, specifically to the tune of $660 million per Forbes. As we continue to see with his consistent number one movies on Netflix it’s clear people will never get tired of seeing him or his signature character.
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