Dangote, Mike Adenuga, Jay-Z, Rabiu, Rihanna make 2023 list of 17 richest black people in the world (See full list)

Three Nigerians, Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga, made it onto the list of the richest black individuals in the world despite Nigeria’s economic challenges.

Below are details on the 17 richest black people in the world, showcasing their diverse paths to success and significant contributions to various industries.

1) Aliko Dangote ($10.8 billion):

Africa’s richest person, Dangote founded and chairs Dangote Cement, which stands as the largest cement producer across the continent. Through a holding company, he owns 85% of publicly-traded Dangote Cement. The company operates in ten African countries, capable of producing 48.6 million metric tons annually. Dangote’s diversified businesses include a fertilizer plant and a monumental oil refinery project, set to be one of the world’s largest once completed.

2) Robert F. Smith ($8 billion):

Smith established private equity firm Vista Equity Partners, specializing in software company investments. With $96 billion in assets, Vista boasts impressive annualized returns of 31%. Smith’s achievements extend to his agreement to pay $139 million for his role in a tax evasion scheme.

3) David Steward ($7.6 billion):

Founder and chairman of IT provider World Wide Technology, Steward overcame financial struggles in the early stages of his venture. The company, now valued at $14.5 billion, serves prominent clients like Citi, Verizon, and the U.S. government. Steward’s philanthropy includes a donation to the University of Missouri-St. Louis.

4) Abdulsamad Rabiu ($5.6 billion):

Founder of BUA Group, Rabiu is a pivotal figure in cement production, sugar refining, and real estate in Nigeria. Merging Obu Cement with Cement Co. of Northern Nigeria resulted in BUA Cement Plc, of which Rabiu holds 98.2% ownership.

5) Mike Adenuga ($3.6 billion):

Nigeria’s second richest individual, Adenuga made his mark in telecom and oil production. Globacom, his mobile phone network, ranks third in Nigeria with 55 million subscribers. Conoil Producing, his oil exploration company, operates six oil blocks in the Niger Delta.

6) Jay-Z ($2.5 billion):

Following his achievement as hip-hop’s first billionaire in 2019, Jay-Z bolstered his wealth through lucrative liquor ventures. LVMH acquired a 50% stake in his champagne brand, and he sold a majority share of his cognac brand. Beyond music, his assets encompass fine art, a music catalog, and shares in Block and Uber.

7) Oprah Winfrey ($2.5 billion):

Transitioning from a hit talk show to a media empire, Winfrey’s business journey is marked by reinvested profits and ventures like cable channel OWN. Her real estate portfolio spans multiple properties across different locations.

8) Patrice Motsepe ($2.3 billion):

Founder and chairman of African Rainbow Minerals, Motsepe, the first black African on Forbes’ list, established a private equity firm for Africa-focused investments. He also holds a stake in Sanlam and owns the Mamelodi Sundowns Football Club.

9) Michael Jordan ($2 billion):

An NBA legend, Jordan earned significant wealth through his golf career and corporate partnerships, including Nike, Hanes, and Gatorade. He is also a partner in ventures like DraftKings and TMRW Sports.

10) Strive Masiyiwa ($1.8 billion):

Masiyiwa’s journey includes launching Econet Wireless Zimbabwe and a focus on fighting corruption in Africa through the Mo Ibrahim Foundation. He also owns stakes in Liquid Telecom, mobile networks, and fintech and power distribution firms.

11) Alexander Karp ($1.8 billion):

As CEO of Palantir Technologies, Karp oversees data mining services for government agencies and law enforcement. The company went public in a unique direct listing process.

12) Rihanna ($1.4 billion):

Rihanna’s success story involves her cosmetics line Fenty Beauty, co-owned with LVMH, and a 30% stake in the Savage x Fenty lingerie line. She headlined the Super Bowl LVII halftime show, announcing her second pregnancy.

13) Michael Lee-Chin ($1.4 billion):

Lee-Chin’s wealth stems from investments in financial companies and ownership stakes in National Commercial Bank Jamaica and AIC Limited.

14) Mohammed Ibrahim ($1.2 billion):

Founded Celtel International and sold it for $3.4 billion, Masiyiwa now focuses on the Mo Ibrahim Foundation and private equity firm Satya Capital.

15) Tiger Woods ($1.1 billion):

A golf legend, Woods’ earnings from his career translate into investments including real estate, golf-course design, and tech-focused ventures.

16) LeBron James ($1 billion):

LeBron James is the first active NBA player to reach billionaire status, attributed to on-court salary, business ventures, and endorsement deals.

17) Tyler Perry ($1 billion):

Tyler Perry’s fortune stems from the “Madea” franchise, spanning live theater, film, and television. His ownership of content and investments contribute to his wealth.

Please note that these figures and details are subject to change due to financial fluctuations and developments.

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