Every year, more black billionaires are joining the club.

Richest Black Billionaires

These hard-working individuals have broken through glass ceilings and braved the odds to achieve being a billionaire. It has taken several years of learning, grit, and discipline to get to this point.

Here are the current black billionaires and their net worth.

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Michael Jordan

There are reasons he’s touted as the best basketball player of all time. He won 6 NBA championships and 14 MVP awards, was selected for 14 all-star games, and was inducted into the hall of fame. Michael Jordan made it into the richest black billionaires club with a net worth of $1.7 billion (1.6 in 2021). 

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Sponsorships for Mike

Michael still has his sponsorship deals with Gatorade, Hanes, and Upper Deck, who have stuck with him for 19 years since he retired in 2003. He also makes bank from his widely acclaimed shoe lines (26 signature pairs) and his majority share ownership of the Charlotte Hornets NBA franchise.

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Rihanna

Rhianna is one of the 236 newcomers to the global billionaire circle, according to Forbes (2022). She is famous for her music, acting, fashion designing, and business tilts. 

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Cosmetics and Music

Her cosmetics brand, Fenty Beauty, is notable for launching her into the billionaire club, owing to its massive success. With a launch in 8 African countries imminent, there is no doubt that the brand’s market share will increase in the coming year. 

Rhianna is officially the wealthiest female musician in the world and the second richest female entertainer behind Oprah Winfrey. She has a net worth of $1.7 billion. With her businesses and career blossoming, it’s safe to say she would be one of the richest black billionaires for a long time. 

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Kanye West

Kanye West is one of three musicians on this black billionaire list. Kanye’s net worth has grown significantly thanks to his record-breaking music sales (over 160 million) and his largely successful foray into fashion. 

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Yeezy

Kanye West has a Yeezy deal with Adidas and GAP, valued at $3.2 billion. He is the sole owner of Yeezy and reportedly earns 150-200 million every year. Kanye is worth $2 billion (1.8 in 2021). 

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Alex Karp

Alexander Karp is one of the richest black billionaires in the world. He has a net worth of $1.1 billion (2.1 in 2021). Alex inherited a sizeable amount of money from his father and invested in startups and stocks. He is most notable for his role as co-founder and CEO of Palantir Technologies, an IT company specializing in big data. 

Alex’s Caucasian appearance makes him seem white through and through, but his mother is black American. 

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Oprah

Oprah Winfrey is a phenomenal, groundbreaking, and successful person. As a black woman who grew up in extreme poverty, molested and lost a baby at a young age, she has come a long way. Despite the odds against Oprah, she has become an epitome of courage and determination, showing other young black women what’s possible. 

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Oprah Turns Harpo

Oprah Winfrey has a net worth of $2.6 billion (2.7 in 2021). She’s had an illustrious career that reflects on her asset base, from working at a grocery store to winning the Miss Tennessee pageant, becoming the first black news anchor, and hosting the famous Oprah Winfrey Show. She is the chairwoman and CEO of Harpo Productions and Oprah Winfrey Network. 

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Patrice Motsepe

Patrice is also the current serving president of the Confederation of African Football CAF since March of 2012. Patrice Motsepe is worth $3.3 billion (2.9 in 2021).

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David Steward

David Steward comes in fifth on the list of black billionaires with $5.8 billion (3.7 in 2021). Despite having faced biting poverty and racial segregation at a young age, Steward grew up to become a notable person in society. 

He has worked as a salesman (like his father), a production manager, and an accountant. In 1990, he started World Wide Technology, an IT company that has seen continuous success. 

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Abdul Samad Rabiu

Here’s another black billionaire of Nigerian descent with a net worth of $6.9 billion (4.9 in 2021). Abdul is the founder of BAU, a Nigerian conglomerate whose interests have diversified since it began operations in 1988. They started with commodity trading, expanded to construction materials, and began constructing rolling mills. Other interests include real estate, infrastructure, and cement production.

Besides profiting from the massive BAU business, Abdul is also the owner of Nigeria Oil Mills – the largest oil processing company in Nigeria. 

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Robert Smith

The 1962 Denver-born Robert Smith is a black billionaire with an estimated $6.7 billion (6 in 2021). After completing his education in two different fields, Chemical Engineering for his degree and Business Administration for his master’s, he worked for several businesses. Robert later decided, like most rich entrepreneurs, to start his business.

Fast forward to 2022, and he is on the list of the richest black people, amassing his wealth as chairman and CEO of Vista Equity Partners, which has investment relationships with software companies.

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Mike Adenuga

Following closely is another Nigerian billionaire, Mike Adenuga, who is worth $7.3 billion (6.1 in 2021). Mike is the founder of Globacom, the second largest telecom company in Nigeria. He is also a shareholder in other companies, including Equitorial Trust Bank, and has interests in oil (Conoil).

Mike Adenuga didn’t have the best start to life, having worked as a taxi driver. He eventually went to school and bagged an MBA after his degree program. His introduction to millionaire status was through his lace and soft drinks business.

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Aliko Dangote

Aliko Dangote is the richest black billionaire, with a net worth of $14 billion (11.5 in 2021). He is the founder of Dangote cement company, where he controls approximately 88% of the shares. Dangote has also amassed wealth from other investments in salt and sugar manufacturing companies. 

With the ongoing construction of the Dangote refinery at the Lekki Free Zone near Lagos, the business mogul is expected to increase his net worth in the coming year. The refinery is set to produce 650,000 barrels of oil per day. 

Image Credit: Stephane de Sakutin.

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