Black Billionaires

This list includes people of Black African ancestry who have achieved billionaire status in U.S. dollars. It is a testament to the hard work, dedication and ambition of these individuals, who have been able to break through barriers and achieve success in a world that often makes it hard for Black people to do so. It is also a reminder that anyone can achieve great things regardless of their race or background, if they are willing to put in the effort and never give up on their dreams.

The current list of 22 billionaires comprises a total wealth of approximately $83.4 billion up 13.4% from 2023, with a median age of 61 years. Notably, Nigerian Alhaji Aliko Dangote's $16.1 billion, accounts for about ~ 19.3% of this combined wealth. It's worth highlighting that the aggregate wealth of Black billionaires represents less than one percent of the total wealth of all billionaires.

In 2021, we marked the 20th anniversary of Robert L. Johnson and Michael Lee-Chin becoming the first Black individuals to be included in Forbes magazine's annual World's Billionaires ranking in 2001. Initially, Forbes mistakenly listed Mr. Johnson as the sole Black billionaire, not acknowledging Mr. Lee-Chin's Black ancestry.

Oprah Winfrey achieved the distinction of becoming the world's first Black female billionaire in 2003 and retained this status until 2013 when she was joined by Isabel dos Santos, Africa's first female billionaire, and Folorunsho Alakija, Nigeria's first female billionaire.

In 2014, Michael Jordan reached the landmark of becoming the first billionaire athlete. At that time, he was the fourth-richest Black American, trailing Robert F. Smith, David L. Steward and Oprah Winfrey.

In 2014, our list of 10 Black billionaires had a combined wealth of USD $60.9 billion. In 2023, the collective wealth of the 20 Black billionaires featured on the our Black billionaires list amounts to USD $66.4 billion.

June 2019 witnessed Shawn "Jay-Z" Carter's recognition as the first hip-hop artist to achieve billionaire status, as acknowledged by Forbes magazine.

On August 4, 2021, Forbes magazine officially listed Rihanna as a billionaire. Ms. Fenty is the first Black billionaire born and raised in Barbados and is also the youngest known Black billionaire to date.

In October 2023, Forbes magazine officially acknowledged Earvin "Magic" Johnson as a billionaire. This achievement marked him as the 23rd Black individual to attain billionaire status and the fourth athlete to join the exclusive ranks, alongside Tiger Woods, Michael Jordan, and LeBron James.

In 2023, we reinstated Mohammed Al Amoudi on our list of billionaires. Notably, he was previously included in our billionaire rankings, but we removed him due to concerns regarding his assets. While Bloomberg currently includes him on their list of billionaires, Forbes does not feature him in their rankings. Mr. Al Amoudi was among the many high-profile Saudis who were detained as part of a significant anti-corruption crackdown led by Crown Prince Mohammed bin Salman. He was eventually released in January 2019, with no official explanation provided for either his detention or his release. Ethiopia's Prime Minister, Abiy Ahmed, made an appeal to the Crown Prince for Mr. Al Amoudi's release.

As of January 12, 2024, Adebayo O. Ogunlesi, a Nigerian American, has become the latest Black billionaire. His company, Global Infrastructure Partners, a New York City-based asset-management firm with a USD $100 billion assets under management (AUM), was acquired by BlackRock for approximately USD $12.5 billion in cash and stock. According to the Bloomberg Billionaires Index, Mr. Ogunlesi, serving as the Chairman and Managing Partner of Global Infrastructure Partners (GIP), holds an estimated 17.5% stake in the company, resulting in a net wealth of around $2.3 billion based on the acquisition price.

On January 22, 2023 Forbes released the African Billionaires which included former Nigerian billionaire Femi Otedola, with a net worth of $1.2 billion. Mr. Otedola last appeared on the Forbes billionaires list in 2016.

It's essential to note that Black billionaires represent less than 1% of the global billionaire population of ~ 2642 with a collective net worth of ~ USD $12 trillion (March 2023). Collectively, all Black billionaires wealth accounts for approximately ~ 37.35% of SpaceX founder Elon Musk's net worth of USD $223 billion (23/01/2024 T1400).

Updated 23/01/2024.

_{* Compiled using data from Forbes.com, and Bloomberg.com.}