Entertainment

Secret About The Top 20 Richest Black Billionaires In 2024: Their Names, Net Worth, and Companies

Who are the richest Black Billionaires in 2024? Here’s the full list of billionaire business owners who are black and their current net worths.

There were 2,640 billionaires globally as of March 2023, down from 2,668 the previous year, according to Forbes’s 2023 list of billionaires. The total net worth of the world’s billionaires is now $12.2 trillion, down $500 billion from $12.7 trillion in March 2022, the publication notes.

Since 2001, the number of global billionaires of African descent has risen markedly, reaching a peak of 19 in 2021 according to Forbes.

Out of our 20, the populated nations with more billionaires are the United States with 9, and Nigeria with 4. The West Africans on this list made a huge percentage of their money from the Nigerian market.

Who is the first black billionaire? In 2001, Bob Johnson and Michael Lee-Chin were the first persons of African descent to appear on the Forbes billionaires list—both making their fortunes in North America, per NCRC.org. It is right to know that there are nine American billionaires of African descent.

Saudi businessman Mohammed Al Amoudi joined Johnson and Lee-Chin on the list in 2002 through his holdings in construction, energy, and agricultural ventures in Saudi Arabia, Sweden, and Ethiopia. Oprah Winfrey joined the list in 2003, making her the first woman of African descent to become a billionaire. By 2023, the number of billionaires of African descent, according to Forbes had fallen to 17, as the value of Folorunsho Alakija’s oil holdings fell and Mohammed Al Amoudi was removed, along with all other Saudi billionaires, from the prestigious list by Forbes after he was jailed by Saudi Arabia in 2017 for corruption.

We all know Oprah, Michael Jordan, and Robert F. Smith have billions, but what about people of African descent in other countries? It turns out that Oprah and Smith are relatively poor compared to the wealthiest black people in the world.

The renaissance ‘Bad Gyal’ herself, Rihanna, who was recently acknowledged as the world’s richest female musician, was added to the list with a projected net worth of $1.7 billion, partially due to her ever-expanding Fenty empire.

Kanye West, who always made this list of billionaires who are black, lost his seat after all the brands and companies that partnered with him cut ties over his controversial “antisemitic” comment about the Jews.

Other billionaires like LeBron James and Tiger Woods could have been on this list, should it be extended.

If you’ve ever wondered how many black people are among the one percent of the world’s most wealthy, well, there are just not more than 20. Four of the 10 are women, and two of those women are entirely self-made. Today, we’re looking at not just the richest African American people but also the richest black people from all over the world.

Who is the richest black man in the whole world? Here are the richest African Americans and where they rank on the list of the world’s billionaires.

#20. Tyler Perry: $1.0 billion

Richest Black Billionaires - Tyler Perry
  • Net Worth: $1.0 billion
  • Age: 54 years old (as of 2023)
  • Business: Movies, television, entertainment.
  • Residence: Atlanta, Georgia.
  • Country: United States.
  • Marital Status: In Relationship.
  • Children: 1

Tyler Perry is an American actor, director, producer, and screenwriter.

In 2011, Forbes listed him as the highest-paid man in entertainment, earning US$130 million between May 2010 and May 2011.

Perry created and performs the Madea character, a tough elderly woman. The “Madea” franchise reported grossed more than $660 million.

In 2019, he opened Tyler Perry Studios, a 330-acre property in Atlanta with 12 sound stages and custom sets that include a to-scale White House.

After seven years creating content for Oprah Winfrey’s OWN, Perry struck a similar deal with Viacom in 2019, getting 25% off streaming service BET+.

What is Tyler Perry’s net worth? Per Forbes, Tyler Perry is an American actor, director, playwright, and producer who has a current net worth of $1 billion. However, according to Celebrity Net Worth, Tyler Perry is worth $850 million and makes an estimated salary of $80 million per year.

#19. Folorunsho Alakija: $1 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Folorounsho-Alakija.jpg” />
  • Net Worth: $1 billion.
  • Age: 73 years old (as of 2023).
  • Source of Wealth: oil, Self Made.
  • Residence: Lagos, Nigeria.
  • Country: Nigeria.
  • Marital Status: Married.
  • Children: 4 kids

Folorunsho Alakija is Nigeria’s first female billionaire. She began her professional career as an Executive Secretary in Lagos, Nigeria, while simultaneously launching her own tailoring business. Her company flourished, and she went on to become the National President and a Trustee for the Fashion Designers Association of Nigeria. In the early 90s, she applied for a license to begin prospecting for oil.

 

 

It turns out, the plot of land she was granted was sitting on over one billion barrels of potential oil. She owns 60% of the drilling venture off the coast of Nigeria. After discovering a billion barrels, the Nigerian government attempted to take the land grant back. A 12-year legal battle ensued that reached to the Supreme Court of Nigeria. Folorunsho was victorious and her patience was rewarded handsomely. As soon as the legal verdict came down, Folorunsho was instantly worth billions of dollars.

READ ALSO:  Serwaa Amihere causes stir with this video

What is Folorunsho Alakija’s net worth? Folorunsho Alakija is a Nigerian businesswoman and philanthropist with a net worth of $1 billion, per Celebrity Net Worth. Her fortune has fallen from over 2 billion to $1 billion due to lower oil prices.

#18. Mohammed Ibrahim: $1.2 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Dr-Mohammed-brahim-1024×512.jpg” />
The Mo Ibrahim Foundation
  • Net worth: 1.2 billion USD (2023) Forbes.
  • Birthday: May 3, 1946
  • Age: 74 years old (as of 2023)
  • Country: Sudan
  • Spouse(s): Hania Morsi Fadl (divorced).
  • Children: Hadeel Ibrahim, Hosh Ibrahim, Sami Ibrahim

Mohammed Ibrahim is a self-made billionaire from Sudan. He currently lives in the U.K. and is one of the wealthiest people there. Ibrahim became a billionaire in 2005 when he sold Celtel International, his telecommunications company. These days he is focused on improving the lives of the people of Africa through his charitable foundation.

 

 

What is Mohammed Ibrahim’s net worth? Mohammed Ibrahim is a British billionaire who has a current net worth of $1.2 billion, per ForbesCelebrity Net Worth pegs Ibrahim’s fortune at $1.1 billion.

#14. Tope Awotona: $1.2 billion

” alt=”” data-src=”https://content.thedistin.com/wp-content/uploads/2023/01/Tope-Awotona.jpg” />
  • Net Worth: $1.2 billion
  • Age: 42
  • Source of Wealth: software, Self Made
  • Residence: Atlanta, Georgia
  • Country: Nigeria-United States
  • Marital Status: Married
  • Education: Bachelor of Business Administration, The University Of Georgia

Tope Awotona is the founder and CEO of scheduling software company Calendly.

Awotona, a former salesman for tech firms including EMC (now Dell EMC), founded Calendly out of his frustration with the back-and-forth emails required to schedule meetings.

He bootstrapped Calendly for years before taking on a $350 million investment in 2021 that valued the firm at $3 billion.

 

 

Born in Lagos, Nigeria, Awotona immigrated to the United States as a teenager.

Before founding Calendly, he had started a few other businesses, including one that sold projectors and another that sold garden tools, that flopped.

What is Tope Awotona’s net worth? Tech mogul, Tope Awotona, the founder and CEO of Calendly, the modern scheduling platform for high-performing teams and individuals accelerating business forward has a current net worth of $1.2 billion, per Forbes. There has been a decline in his fortune as he was previously (in 2023) worth $1.4 billion.

#12. Michael Lee-Chin: $1.3 billion

” alt=”Richest Black Billionaires – Michale Lee-Chin” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Michael-Lee-Chin.jpg” />
  • Net worth: $1.3 Billion
  • Age: 73 years old (as of 2023)
  • Business: Investment banking
  • Country: Jamaica

Michael Lee-Chin, OJ, OOnt, is a Jamaican-Canadian billionaire businessman, philanthropist, and the chairman and CEO of Portland Holdings Inc., a privately held investment company in Ontario, Canada. Lee-Chin was appointed to the Order of Ontario in 2017.

Michael Lee-Chin made a fortune investing in financial companies like National Commercial Bank Jamaica and AIC Limited.

The native of Jamaica acquired AIC in 1987 when it had less than $1 million in assets under management.

Under Lee-Chin, the Canada-based wealth management and mutual fund business managed more than $10 billion in assets by 2002.

However the firm was hit hard by the 2008 recession, and Lee-Chin sold AIC to Canadian financial services group Manulife in 2009 for an undisclosed price.

He managed to hold onto a valuable 60% stake in National Commercial Bank Jamaica, which now makes up the majority of his wealth.

What is Michael Lee-Chin’s net worth? Michael Lee-Chin is a Jamaican-Canadian business magnate, investor, and philanthropist who has a net worth of $1.3 billion, per Forbes.

#13. Isabel Dos Santos: $1.4 billion to $2 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Isabel-Dos-Santos.jpg” />
  • Net Worth: $1.4 Billion.
  • Age: 49 years old (as of 2022)
  • Source of Wealth: investments.
  • Residence: Luanda, Angola.
  • Citizenship: Angola.
  • Marital Status: Widowed.
  • Children: 3.
  • Education: Bachelor of Arts/Science, King’s College London

Isabel Dos Santos is the daughter of Jose Eduardo dos Santos, the President of Angola who has reigned over a violent regime since 1979 and ruled for 38 years, ending his tenure in 2017, and died in July 2022. Today Isabel sits at the top of many of Angola’s top industries – banking, diamonds, cement, and telecom.

Isabel’s representatives adamantly deny that her father had anything to do with her success. Isabel’s defenders refer to her as a “brilliant investor” who started completely from scratch with no help at all. On the other hand, these claims proved difficult to defend after it was revealed that Jose personally transferred extremely valuable public assets directly to his daughter.

What is Isabel dos Santos’s net worth? Isabel dos Santos is an Angolan businesswoman who has a net worth of $2 billion, per Celebrity Net Worth. Isabel dos Santos was named Africa’s richest woman in 2020 by Forbes magazine, with an estimated net worth of $1.4 billion at the time.

In 2013, Forbes initially crowned Isabel Dos Santos as Africa’s wealthiest woman, with a net worth of $3 billion.

#10. Rihanna: $1.4 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/09/rihanna-3.jpg” />
  • Net Worth: $1.4 billion
  • Age: 35 years old (as of 2023)
  • Business: Music, Fenty Cosmetics, beauty, fashion
  • Country: Barbados

Robyn Rihanna Fenty, NH is a Barbadian singer, actress, fashion designer, and businesswoman. Born in Saint Michael and raised in Bridgetown, Barbados, Rihanna was discovered by American record producer Evan Rogers who invited her to the United States to record demo tapes.

What is Rihanna’s net worth? Rihanna is a Barbados-born singer, songwriter, actress, and entrepreneur who has a net worth of $1.7 billion and makes an estimated salary of $70 million per year, per Celebrity Net WorthForbes pegs Rihanna’s fortune at $1.4 billion.

READ ALSO:  It’s a shame you guys still pampering this disabled fool - Shatta Wale attacks Stonebwoy

#16. Strive Masiyiwa: $1.8 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Strive-Masiyiwa.jpg” />
  • Net worth: $1.8 billion
  • Age: 62  years old (as of 2023)
  • Business: Technology sales
  • Country: Zimbabwe

Strive Masiyiwa is a London-based Zimbabwean billionaire businessman and philanthropist. He is the founder and executive chairman of the international technology groups Econet Global and Cassava Technologies.

What is Strive Masiyiwa’s net worth? Zimbabwean businessman Strive Masiyiwa has a current net worth of $1.8 billion, per Forbes. In contrast, CelebrityNetWorth pegs his fortune at just $600 million. According to Forbes’ data, the entrepreneur’s net worth has increased from $1.3 billion (in 2023) to $1.8 billion.

#17. Alexander Karp: $1.9 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Alexander-Karp-1.jpg” />
  • Net worth: $1.3 billion
  • Age: 56 years old (as of 2023)
  • Business: Software Technologies
  • Country: USA

Alexander Caedmon Karp is an American billionaire businessman and the co-founder and CEO of the software firm Palantir Technologies.

The African-American IT billionaire’s data-mining firm receives early backing from the CIA investment arm, In-Q-Tel. His company works for top government bodies which include the CIA and the FBI. He identifies as a White American but his mother is African American making him a mixed race.

What is Alexander Karp’s net worth? The co-founder and CEO, of Palantir Technologies, has a current net worth of $1.9 billion, per Forbes. In 2023, his fortune (which was $1.3 billion) saw a decline as compared to the previous year (2022) when he was worth $1.7 billion. His current fortune also shows a drastic increase in 2024.

#15. Jay-Z: $2.5 billion

” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/Jay-Z.jpg” />
  • Net Worth: $2.5 billion.
  • Age: 54 years old (as of 2023)
  • Source of Wealth: Media, entertainment, Multiple, Self Made.
  • Residence: New York, New York.
  • Country: United States.
  • Marital Status: Married.
  • Children: 3.
  • Clients: Robinson Cano, Yoenis Cespedes, Kyrie Irving

Shawn Corey Carter, known professionally as Jay-Z, is an American rapper, record producer, entrepreneur, and founder of Manhattan-based conglomerate talent and entertainment agency Roc Nation. He is regarded as one of the most influential hip-hop artists.

The controversial musician and fashion mogul made the headlines recently for his richest black man in history claim. His biggest business move was a lucrative apparel deal with Adidas which propelled his net worth to $1.8bn.

Even in a year without a tour or album release, Jay-Z mints millions from his Armand de Brignac champagne and D’Usse cognac.

The Brooklyn-born rapper was crowned hip-hop’s first billionaire in 2019, thanks to a sprawling and diversified empire.

Jay-Z’s assets range from the entertainment company Roc Nation to a fine art collection including works by Jean-Michel Basquiat.

Named after the housing project in which he grew up, his Marcy Venture Partners raised an $85 million fund in 2019.

What is Jay-Z’s net worth? Jay-Z is an American rapper, producer, songwriter, and businessman. As of this writing, Jay-Z’s current net worth is $2.5 billion, per Forbes. His net worth is expected to grow in the coming years with another lucrative GAP deal in the bag. For example, last year (in 2023), he was worth $1.3 billion.

#9. Patrice Motsepe: $2.6 billion

  • Net worth: $2.6 Billion
  • Age: 61 years old
  • Business: Mining
  • Country: South Africa

Patrice Motsepe is a South African mining magnate who owns African Rainbow Minerals. He was the first black man to become a billionaire on the Forbes list. He is also the first African to sign Bill Gates’ Giving Pledge.

In 1999, Motsepe and his wife founded the Motsepe Foundation to help create new jobs, support education, and improve the lives of children, the unemployed, and the disabled. He bought low-priced mining shafts and made them profitable.

He is also a sports investor who owns one of South Africa’s top Football Clubs, Mamelodi Sundowns FC.

What is Patrice Motsepe’s net worth? Patrice Motsepe is a South African mining magnate who has a net worth of $2.6 billion.

#8. Oprah Winfrey: $2.8 billion

” alt=”” data-srcset=”https://vz.cnwimg.com/wp-content/uploads/2018/01/GettyImages-902386674.jpg?x40254 1024w, https://vz.cnwimg.com/wp-content/uploads/2018/01/GettyImages-902386674-768×529.jpg?x40254 768w, https://vz.cnwimg.com/wp-content/uploads/2018/01/GettyImages-902386674-550×379.jpg?x40254 550w” data-src=”https://vz.cnwimg.com/thumb-900x/wp-content/uploads/2018/01/GettyImages-902386674.jpg” />FREDERIC J. BROWN/AFP/Getty Images

  • Net worth: $2.8 billion
  • Age: 69 years old
  • Business: Media and entertainment
  • Global Ranking: 1,130
  • Country: United States

Oprah Winfrey is the only African-American woman to make the billionaire list. She famously overcame a poverty-stricken childhood to become the Queen of all Media. The Oprah Winfrey Show ran for 25 seasons. More than just wealthy, Oprah is also beloved by millions of fans.

Oprah Winfrey is an American media mogul, television host, and author. Oprah’s net worth is $2.8 billion per Forbes. Celebrity Net Worth puts her fortune at $3.5 billion, adding that she earns around $300 million per year.

#11. Michael Jordan: $3 billion

  • Net Worth: $3 billion
  • Age: 60 years old (as of 2023)
  • Business: Charlotte Hornets, endorsements
  • Global ranking: 1,931
  • Country: United States

Michael Jordan is not only one of the most successful athletes of all time, but he’s also one of the most well-known people in the world.

Jordan made $90 million playing in the NBA. Since retiring he’s made another fortune through endorsement deals and other partnerships.

He has a long-standing deal with Nike, for instance. Jordan is also one of the owners of the Charlotte Hornets basketball team. These days he makes more in one year through his various ventures than he did during his entire professional basketball career.

What is Michael Jordan’s net worth? He is a retired American basketball player, team owner, product endorser, and entrepreneur. Michael Jordan’s net worth was $1.7 billion in previous years but he is now worth $3 billion by Forbes and $2.6 billion per Celebrity Net Worth.

#7. Abdulsamad Rabiu: $5.9 billion

  • Net worth: $5.9 Billion
  • Age: 63 years old (as of 2023)
  • Business: Commodity trading
  • Country: Nigeria
READ ALSO:  Video of Christiana Awuni and Bofowaa Ciara a allegedly wanting to sleep with Ayisha Modi causes stir

The Nigerian business Mogul owns a staggering 98.5% of BUA Cement. He is also the Chairman of BUA Group, a Nigerian conglomerate with large investments in cement production, real estate, and sugar refining. He seems to be keeping close tabs on Aliko Dangote and recently had a brief squabble with him.

What is Abdulsamad Rabiu’s net worth? Abdulsamad Rabi is a Nigerian businessman who has a net worth of $5.9 billion.

#6. Mike Adenuga: $6.5 billion

  • Net Worth: $6.5 Billion.
  • Age: 70 years old.
  • Source of Wealth: telecom, oil, Self Made.
  • Residence: Lagos, Nigeria.
  • Citizenship: Nigeria.
  • Marital Status. Married.
  • Children: 7.
  • Education: Master of Business Administration, Pace University

Mike Adenuga built his enormous fortune in mobile telecommunications and oil production. In 2006, he founded Globacom, the second-largest mobile phone network in Nigeria.

With over 24 million customers in Nigeria, the company also operates in the Republic of Benin, where it recently acquired licenses to start businesses in Ghana and the Ivory Coast. What’s more, Conoil Producing is considered to be one of the largest independent exploration companies in Nigeria, with a production capacity of 100,000 barrels of oil per day.

What is Mike Adenuga’s net worth? Mike Adenuga is a Nigerian billionaire who has a net worth of $6.5 billion. CelebrityNetWorth pegs his fortune at $6 billion.

#5. David Steward: $7.6 billion

  • Net worth: $7.6 billion
  • Age: 72 years old (as of 2023)
  • Business: IT provider
  • Global Ranking: 320
  • Country: United States

David L. Steward is an American businessman. He is chairman and founder of World Wide Technology, one of the largest African-American-owned businesses in America. According to Forbes, in 2019 Steward was one of 13 black billionaires worldwide.

What is David L. Steward’s net worth? David L. Steward has a current net worth of $7.6 billion, per Forbes.

#4. Mohammed Al Amoudi: $8.1 billion” alt=”” data-src=”https://thevibely.com/wp-content/uploads/2021/12/mohammed-al-amoudi.jpg” />

  • Net Worth: $8.3 billion.
  • Age: 77 years old (as of 2023).
  • Business: Energy.
  • Country: Saudi Arabia

In the 1980s Sheikh Mohammed Al Amoudi made very wise investments in the oil and mining industries in his home country of Ethiopia as well as in Sweden and Morocco.

He expanded his portfolio of companies into finance, hotels, hospitals, and more. Mohammed employs over 40,000 people through his two primary corporations, Corral Petroleum Holdings, and Mohammed International Development Research and Organization Companies (MIDROC). MIDROC is the largest gold mining operation in Ethiopia, producing four tons of gold each year.

Corral Petroleum Holdings controls over 70% of Ethiopia’s oil output. Al-Amoudi is the largest foreign investor in Morocco and Sweden. More recently he has launched a new endeavor to build the first car factory in Saudi Arabia.

What is Mohammed Al Amoudi’s net worth? Al-Amoudi’s fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. Today, he has a net worth of $8.3 billion, per Celebrity Net Worth. Forbes has not yet updated his fortune since 2017 and at the time, he was worth $8.1 billion.

#3. Robert F. Smith: $9.2 billion

  • Net Worth: $9.2 billion
  • Age: 61 years old (as of 2023)
  • Business: Private equity, finance, investments
  • Global Ranking: 451
  • Country: United States

Robert F. Smith is the founder of the private equity firm, Vista Equity Partners. Vista deals in the not-so-sexy category of enterprise software, which might be why he’s flown largely under the radar.

In 2000, Smith launched Vista Equity Partners and in the 16 years since then, Vista has grown to nearly $16 billion in assets and generated insane returns for its investors. Vista has delivered a whopping 31 percent average annual rate of return to its investors since 2000. Smith joined the Giving Pledge earlier this year.

Robert F. Smith is a billionaire. Aside from holding the title of the wealthiest African American and the fourth richest Black person in the world, Smith’s fortune is not an arbitrary Kylie Jenner-like valuation.

What is Robert Smith’s net worth? Per Forbes, Robert Smith has a current net worth of $9.2 billion. In 2021, he was worth 5 billion, and $8 billion in 2023.

#2. Aliko Dangote: $13.8 billion

  • Net Worth: 12.5 Billion.
  • Age: 66.
  • Source of Wealth: cement, sugar, Self Made.
  • Residence: Lagos, Nigeria.
  • Citizenship: Nigeria.
  • Marital Status: Divorced.
  • Children: 3.
  • Education: Bachelor of Arts/Science, Al-Azhar University.

Aliko Dangote owns the eponymous Dangote Group, which operates in the commodities field.  Dangote is based in Nigeria and also does business in other African countries, including Benin, Cameroon, Ghana, South Africa, Togo, and Zambia.

The Dangote Group employs more than 11,000 people in industries such as sugar refining, flour mills, food distribution, and cement. The Dangote Group’s businesses account for one-fourth of all businesses on the Nigerian Stock Exchange.

Nigerian businessman Aliko Dangote is Africa’s wealthiest man for the 13th year in a row. Forbes estimated his current net worth at $13.8 billion. CelebrityNetWorth also places his fortune at $21 billion.

#1. Elon Musk: $240.9 billion

  • Net Worth: $240.9 billion
  • Age: 52 (as of 2023).
  • Source of Wealth: Tesla, SpaceX, Self Made.
  • Self-Made Score: 8. 
  • Philanthropy Score: 1.
  • Residence: Austin, Texas.
  • Citizenship: Pretoria, South Africa.
  • Marital Status: In Relationship.
  • Children: 11.
  • Education: Bachelor of Arts/Science, University of Pennsylvania.

Elon Reeve Musk FRS is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink, OpenAI, and Twitter.

He owns about 25% of Tesla between stock and options but has pledged more than half his stock as collateral for loans.

SpaceX, founded in 2002, is worth $127 billion after a funding round in May 2022; it quadrupled its value in three years.

Boring Company, which aims to defeat traffic, raised $675 million in April 2022 at a $5.7 billion valuation.

Twitter’s board agreed to sell the company to Musk for $44 billion in April 2022, after he disclosed a 9.1% stake and threatened a hostile takeover.

The deal closed in October 2022 after Musk tried to back out and Twitter sued. Musk now owns an estimated 74% of the company.

What is Elon Musk’s net worth? The business magnate has seen losses and gains in his fortune but he is still a billionaire. Currently, per Forbes, Elon Musk has a fortune of $240.9 billion. In January-February 2022, he was worth $284.3 billion and in 2023, he was worth $284.3 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button