Here Are The World’s Richest Black Billionaires
Did you know that every year Forbes launches the list of the wealthiest and most powerful people globally? In 2019, Forbes launched the list of the world’s billionaires. By no surprise, Amazon founder Jezz Bezos is the richest man alive. However, this list was significantly different compared to the identical list 11 years ago.
This edition brought massive attention to black billionaires in the world, who made it to the list. Here are the wealthiest black people in the world.
13. Mohammed Ibrahim, $1.1 billion
Mohammed “Mo” Ibrahim was born in Sudan, raised in Egypt, and studied in Britain. He is best known as the founder of Celtel International. Mo founded Celtel in 1998, and it was the first mobile operators serving both Africa and the Middle East.
In 2005, Mo sold his company to Kuwait’s Mobile Telecommunications Company for $3.4 billion. From that sum, $1.4 billion went directly to his pocket. In 2006, he founded the Mo Ibrahim Foundation. The goal of the foundation is to promote good governance in Africa.
12. Folorunsho Alakija, $1.1 billion
Folorunsho Alakija is the first female billionaire from Nigeria. She is the founder of Famfa Oil, a famous Nigerian company that owns a considerable part in OML 127, a large oil block on the Agbami deep-water oilfield in Nigeria. During the 1970s, Alakija worked as a secretary in a Nigerian merchant bank, just to quit her job and start studying design in England.
After that, she returned to Nigeria to start a Nigerian fashion label specially designed for upscale clientele. One of the clients was Maryam Babangida, wife to Nigeria’s former military president Ibrahim Babangida.
11. Abdulsamad Rabiu, $1.6 billion
Abdulsamad Rabiu is one of the richest men in Nigeria. He is the founder of BUA Group, which includes cement production, steel, real estate, manufacturing, shipping, sugar refining, and oil gas. In one year, this group has revenue estimated at over $2 billion.
He started his business career working for his father, Isyaku Rabiou, also a successful Nigerian businessman. In 1988 he started his own business, importing sugar, rice, and edible oils, next to steel and iron rods.
10. Michael Lee-Chin, $1.9 billion
Lee-Chin has Jamaican roots while he was born and raised in Canada. He made his fortune by working in finance and by investing in financial companies.
He also owns a stake in National Commercial Bank Jamaica. His stake here is astonishing 65%. This considerable cut makes up the balk of his fortune.
9. Michael Jordan, $1.9 billion
Michael Jordan is one of the greatest basketball players ever. Therefore, it comes as no surprise that it is on the list. After his basketball career, Michael turns his fame to business.
Now, he is one of the shareholders of Charlotte Bobcats and enjoys excellent deals with the likes of Gatorade, Hanes, and Upper Deck. His most significant income comes from Brand Jordan, a $1 billion (sales) sportswear partnership with Nike.
8. Patrice Motsepe, $2.3 billion
Patrice Motsepe is the first South African billionaire. Moreover, he is still the only South African billionaire. He is the founder of ARM, African Rainbow Minerals, a Johannesburg Stock Exchange-listed mining company that holds chrome, iron, platinum, coal, gold, copper, and manganese.
He also has a massive part in African Rainbow Capital, a private equity firm that focuses on investing in the financial services sector.
7. Isabel Dos Santos, $2.3 billion
Isabel dos Santos is the oldest daughter of former Angola’s president. She is passionate about different business ventures. So far, her impressive portfolio includes a 25% stake in Angolan mobile phone company Unitel and a 25% stake in Angolan bank Banco BIC SA.
She also has shares in Nos SGPS, a Portuguese cable TV company. Also, she holds under 20% of Banco BPI, one of Portugal’s largest publicly traded banks.
6. Strive Masiyiwa, $2.4 billion
Strive is Zimbabwean, and founder of the leading mobile telecom companies in Africa named Econet. So far, the company has more than 10 million subscribers spread across Botswana, Lesotho, Burundi, and Zimbabwe.
He is also passionate about developing Zimbabwe. So, last year he pledged $100 million to establish a fund to invest in rural entrepreneurs across Zimbabwe.
5. Oprah Winfrey, $2.5 billion
For years, Oprah is the richest African-American woman in the World. Thanks to her TV presence for almost three decades, Oprah accumulated her wealth in numerous ways. She even has her cable channel, OWN (Oprah Winfrey Network).
She is also one of the world’s most generous philanthropists. She continually gives to various education causes, and so far, she has spent $100 million on the Oprah Winfrey Leadership Academy for Girls in South Africa.
4. David Steward, $ 3 billion
Steward is the founder and chairman of IT provider Word Wide Technology. In his early days, David had to work without a paycheck, while his father worked as a janitor, trash collector, and mechanic.
Now, his clients are Verizon, Citi, and even the federal government. He is also a jazz lover. In 2018, he donated $1.3 million to the University of Missouri-St. Louis to help them create the David and Thelma Steward Institute for Jazz Studies.
3. Robert F. Smith, $5 billion
Before he becomes a billionaire, Robert F. Smith worked as Goldman Sachs executive. Now, he is best known as the founder of private equity firm Vista Equity Partners.
Vista focuses on investing only in software companies. So far, the company has more than $46 billion in assets and is one of the best-performing private equity firms.
2. Mike Adenuga, $9.1 billion
Mike Adenuga is the second richest man in Nigeria. He created his fortune on oil and telecom production. His mobile phone network is Globacom and is the third-largest in Nigeria.
He is also in the real estate business. So, his property company, Cobblestone Properties, owns hundreds of commercial and residential properties all over Nigeria.
1. Aliko Dangote, $10.9 billion
Aliko Dangote is a real tycoon when it comes to business. He built his fortune in cement, flour, and sugar. From there, he started with his most ambitious project, a private oil refinery in Nigeria.
Aliko built his fortune thanks to a loan that he got from his maternal uncle. With that loan, he managed to make the famous Dangote Group, the largest industrial conglomerate in West Africa.