Black billionaires are few in number in the United States. There are over 700 billionaires in the country, but less than 10 of them were black as of January 2022. Adding in global entrepreneurs and business owners, there are a dozen or so black billionaires worthy of admiration as well. Exploring how these moguls made it to the top may inspire you to make some new investments or to learn more about building your credit the right way. Raise a toast to the top black billionaires of the US and beyond.
Richest Female Black Billionaires: Oprah Winfrey and Rihanna
There are very few female black billionaires, and the top two among them are Oprah Winfrey and Rihanna. Oprah Winfrey is worth an estimated $2.5 billion as of 2022, down from her peak worth of $3 billion as recently as 2017. She made the majority of her money from her television show and various movies she produced, then multiplied her income with careful investing in Weight Watchers and other brands. Rihanna is a popular entertainer, but it’s her expansive businesses selling lingerie and makeup that have helped her earn $1.4 billion in net worth as of 2022. At only 34, she’s one of the youngest Black billionaires in the world, not just in the US. She was born in Barbados and is considered a self-made success.
One of America’s Newest Black Billionaires: Tyler Perry
Tyler Perry may be best known for his Madea movies, but as of 2020, he has also become one of the newest billionaires in the US. His worth is estimated at around $1.4 billion, which he earned in part by being the first African-American to independently own a movie studio in the US. His growing earning power continues to bolster his worth, along with investments in his own media company. By reducing what he spends to produce his media content, he can reinvest more into his future earnings.
Hip Hop’s First Billionaire Family: Jay-Z and Beyoncé
Sometimes it takes a combined net worth to give a family black billionaire status. That’s definitely true for the power couple of Beyoncé and Jay-Z. Estimates of their net worth range from $1.2 to $1.8 billion. As of 2022, Jay-Z’s portfolio alone is estimated to be worth over $1 billion. It’s not just touring and merchandising deals that have pumped their value this high. Jay-Z’s extensive business ventures and investments have exploded over the last few years in particular.
Britain’s Richest Black Billionaire: Mohammed Ibrahim
Born in Sudan, Mohammed Ibrahim grew to be a mobile phone executive and the founder of Celtel International in 1998. Selling the company in 2005 netted him $1.4 billion in personal payments, and he currently has a net worth of just over $1 billion. His Mo Ibrahim Foundation supports leadership and stable governance for African countries.
America’s Wealthiest Black Man: Robert E. Smith
When it comes to private equity in America, Robert E. Smith is one of the biggest names in the game. He’s worth just over $8 billion as of 2022, making him one of the top 300 richest people in the world. His firm Vista Equity Partners primarily invests in software companies. His background is in engineering, which gave him a grounded sense of what would work and what wouldn’t in the business world as well.
Africa’s Richest Man: Aliko Dangote
International black billionaires abound as well, especially in Africa. Aliko Dangote has earned the title of Africa’s richest man, with a net worth of $13.2 billion as of August 2022. He made his fortune being the CEO and majority shareholder of Dangote Cement. It’s the largest cement producer in the entire continent, not just his home country of Nigeria. He has also recently branched out into high-demand fields like fertilizer manufacturing to support the growth of the African industry while also earning strong returns on his investments. With only a Bachelor’s degree from Al-Azhar University, he learned much of his business savvy from his grandfather, a successful rice trader from Kano.
Joining the ranks of today’s black billionaires requires dedication, innovation, and careful investment of every cent. Start your climb to the lofty heights of success with the basics, such as credit cards with low-interest rates and new business ideas to help boost your income no matter your skill set.