The world has gone a considerable transformation over these years, and we have seen how the mentality of people has changed over these years. There was a time when people used to hate black people; those were the dark times of history.
The time when people used to disgust them and only thought them as the working peasants who would do the small chores. They were not allowed entry in public places like restaurants and pubs. Blacks were seen as a color of disgust and color of hate. But soon, all this changed after years of revolution and with the help of people like Nelson Mandela.
Well, that was the time, and today is another time where there are a lot of successful people around us, and many of them are black. We always see a white or Caucasian successful person on our lists, but we thought today to make the list of some successful black men.
So here we present you the list of top 10 richest black people with their net worth. These are people with different personalities, and most of them are billionaires. They belong to different regions, and most of them are self-made personalities.
So, we hope that you like this list of top 10 richest black people in the world as of October 2020.
10. Jay-Z – Fortune: US$1 Billion
Jay-Z is a professional American rapper and songwriter whose original name is Shawn Corey Carter and was born on December 4, 1969. He is an entrepreneur and also a record executive. He was born and raised in New York City, and he began his music career after the founding of record label Roc-A-Fella Records in 1995. He released his debut studio album in 1996, which was named Reasonable Doubt. The album was a great success, and later he published over 12 additional records.
Jay-Z is also one of the world’s best-selling music artists and the wealthiest rapper in the world, and he has over 50 million albums and 75 million singles, which were sold worldwide. He has won over 22 Grammy Awards, and these are most by any rapper. He is married to the American singer Beyoncé. In 2011 MTV Awards Beyoncé revealed that she was pregnant with their first child. As of October 2020, Jay-Z has a net worth of US$1 Billion.
9. Abdul Samad Rabiu – Fortune: US$1.6 Billion
Abdul Rabiu is a Nigerian businessman, and he is the founder and chairman of BUA Group. BUA Group is a Nigerian conglomerate that concentrates on manufacturing, agriculture, and infrastructure. The company produces a revenue of $2.5 billion. Abdul is the chairman of the Nigerian Bank of Industry, and in 2013 his net worth was estimated to be around $1.2 billion.
He was born in Kano in the north-western part of Nigeria, and there he obtained his early education. Then he attended the Capital University in Columbus, Ohio, and then returned to Nigeria when he was 24. He returned to oversee his family business. He established BUA International Limed in 1988, and he established this company for the sole purpose of his commodity trading.
He is also very active in philanthropic activities as he uses his BUA Foundation for the charitable activities. He has constructed a 7,000 square meter pediatric ward. As of October 2020, Abdul Samad Rabiu has a net worth of US$1.6 Billion.
8. Michael Jordan – Fortune: US$1.9 Billion
Michael Jordan is one of the most popular and famous basketball players of his time. He has played over 15 seasons of NBA and has won six championships with the Chicago Bulls. Jordan is one of the most effectively marketed athletes of his generation, and he has popularised NBA in the 1980s and 1990s. He is also known for his product endorsements, and he was the main reason for Nike’s Air Jordan sneakers, which were then introduced in 1984. The shoes are popular today too. He was also seen in the 1996 movie Space Jam.
Later in 2006, he became the part-owner and head of the basketball operations for the Charlotte Bobcats, which is now known as Hornets. He also became the first billionaire in the history of the NBA in 2014.
He married Juanita Vanoy in September 1989, and they together had two sons named Jeffrey and Marcus and also a daughter named Jasmine. He filed for divorce in 2002 and got a divorce final in 2006. It was reported that his wife Juanita received a $168 million settlement. In 2011 he proposed his long-time girlfriend Yvette Prieto, and they got married in April 2013. As of October 2020, Michael Jordan has a net worth of US$1.9 Billion.
7. Patrice Motsepe – Fortune: US$2.3 Billion
Patrice Motsepe is the South African mining billionaire businessman who is of Tswana descent. He is also the founder and executive chairman of African Rainbow Minerals. His company has interests in gold, ferrous metals, base metals, and platinum. He is also included in the board of Harmony Gold, which is the world’s 12th largest gold mining industry. In 2012, he was also named as South Africa’s richest man, and in 2003 he became the owner of the football club Mamelodi Sundowns.
In 1994, he was the first black partner in the law firm Bowman Gilfillan, and it was the same year Nelson Mandela was elected as the country’s first black president. He purchased the gold mines from AngloGold when gold prices were low in 1997, and he got six mine shafts from the company.
In 2003 he created Ubuntu-Botho Investments (UBI). Currently, he is the interim chairman of the Black Business Council. He is also the founding member and former president of one of South Africa’s most influential advocacy and lobby group Business Unity SA. As of October 2020, Patrice Motsepe has a net worth of US$2.3 Billion.
6. Strive Masiyiwa – Fortune: US$2.4 Billion
Strive Masiyiwa is a Zimbabwean billionaire businessman and a philanthropist who is based in London. He is also the founder and CEO of Econet Global, which is telecommunication, technology, and renewable energy company. He is also the winner of many accolades, and he has gained international recognition for his business expertise over these years.
He has used his wealth to sponsor over 250,000 scholarships for Africans through his 20-year-old family foundation. He also supports over 40,000 orphans with his education initiatives. Therefore, he is known for his philanthropy. He also funds many initiatives in public health and agriculture across the African continent.
He was born in Zimbabwe on 29 January 1961, and he attended his primary school in Zambia. He completed his secondary education in Scotland. His family fled the country with him when he was seven due to Ian Smith’s embattled government as it began to crumble. The family later settled in Kitwe, which was a city in Zambia and was known for its copper mines. His mother was an entrepreneur, and his father worked in the nearby mines, and later, he joined his family business. He went for European education by the time he was 12.
Talking of his personal life, he is married to Dr. Precious Moloi, who is a physician and fashion entrepreneur. They both have three children together and is also the brother of Tshepo Motsepe and Bridgette Radebe. As of October 2020, Strive Masiyiwa has a net worth of US$2.4 Billion.
5. Oprah Winfrey – Fortune: US$2.7 Billion
Oprah Winfrey is one of the most famous and recognized American media executive, actress, show host, producer, and philanthropist. She is mainly known for her show The Oprah Winfrey Show, which was broadcast from Chicago. It was the highest-rated television program of its kind in the history of television.
Her show ran in national syndication from 1986 to 2011 for 25 years. He was also dubbed as the “Queen of All Media” once, and in the 20th century, she was the wealthiest African American all around the world. She was also North America’s first black multi-billionaire. She was ranked as the most influential woman in the world in 2007.
She was born to poverty in rural Mississippi to a teenage mother, and she was later raised in inner-city Milwaukee. She stated that she was also molested during her childhood, and she became pregnant at the age of 14. Her son was born prematurely, and he died in infancy. Later she ended a job on the radio, and she was also a co-anchor for the local evening news at the age of 19.
She is also credited with creating a more confessional form of media communication. She revolutionized and popularised the tabloid talk show genre, and through this media, she broke 20th-century taboos. Through her show, she allowed LGBT people to enter the mainstream with the help of television appearances. As of October 2020, Oprah Winfrey has a net worth of US$2.7 Billion.
4. David Steward – Fortune: US$3.9 Billion
David Steward is an American Businessman who is also the chairman and the founder of World Wide Technology. It is one of the largest African-American owned businesses in America. He is also one of the four black billionaires in America, and he is 745th in the list of Forbes 2019 Billionaire’s list. He was also rated 239th on the Forbes 400 List of 2019, American Billionaires.
He founded WWT, which was a systems integrator in 1990 and 1993, the WWT started focussing on the implementation of enterprise-wide, conversion services, and the telecommunication networks. Later in 1999, WWT spun off its telecommunications division to form the famous Telcobuy.com. The company’s revenue in 2018 was estimated to be around $11 billion.
He was born in Chicago, Illinois, and he is the son of Dorothy, who was a homemaker and Harold Steward, who was a mechanic. He faced a lot of discrimination, and he faced poverty while he was growing up in Clinton, Missouri.
He received his degree of BS in business from Central Missouri State University in 1973. Later after graduating from college, he worked at Wagner Electric as a production manager from 1974 to 1975, and for four years, he worked as a sales representative. Telcobuy is a global technology and supply chain management company. As of October 2020, David Steward has a net worth of US$3.9 Billion.
3. Robert F. Smith- Fortune: US$5 Billion
Robert F. Smith is an investment banker, chemical engineer, philanthropist, and American businessman. He is the founder and CEO of Vista Equity Partners, which is private equity. He was ranked at No. 480 on the Forbes 2018 list of the world’s billionaires.
He was also included in the Vanity’s Fair New Establishment List, and in 2017 he was named as one of the 100 greatest minds in the world of business by Forbes. In 2019 Pitchbook Private Equity Awards, he was appointed as the ‘Executive of the Year.’ In The Bloomberg 50 List, he was inducted too. He was declared the wealthiest African-American in the 2018 cover story after he surpassed Oprah Winfrey.
He worked at Air Products & Chemicals, Goodyear Tire, and Rubber Company, and then he worked at Kraft General Foods as a chemical engineer. He also earned his MBA with honors and specialized in finance and marketing. He also worked at Goldman Sachs from 1994 to 2001, and there he worked in technology investment banking. First, he settled in New York City and then in Silicon Valley.
Talking of his personal life, he was married to Suzanne McFayden Smith in 1988, and they were married for almost 22 years. Later they got separated in 2010, and then their divorce was finalized in 2014. Later he was married to Hope Dworaczyk, who is a former Playboy playmate, advocate, and fashion editor. He owns a home in Austin, and he bought a 19.5 million dollar from Real Hope Dworaczyk. As of October 2020, Robert F. Smith has a net worth of US$5 Billion.
2. Mike Adenuga – Fortune: US$9.1 Billion
Mike Adenuga is the second richest person in Africa. He is a Nigerian Billionaire and the founder of Globacom, which is Nigeria’s second-largest telecom operator and has a presence in Ghana and Benin. He also owns some stakes in the Equitorial Trust Bank and the oil exploration firm Conoil.
He received his drilling license in 1990, and then he established the firm Consolidated Oil in 1991 in Southwestern Ondo State. Conoil was the first-ever indigenous oil company to perform this kind of task. He got his conditional GSM license in 1999, and when it was revoked, he received his another one in 2003.
He established the company Globacom, and it spread quickly, and it started challenging the global company and giant MTN Group. It later launched services in 2008, and it till now it has continued to spread its services over Ghana. He was also named the African Entrepreneur of The Year at the first ATA in 2007.
Talking of his personal life, he has also received the Grand Commander of the Order of the Niger award by the Government of Nigeria in 2012. His father was the school teacher while his mother was a royal businessman of royal Ijebu descent, and he received his secondary school from Ibadan Grammar School. Then he graduated from North-western Oklahoma State University and Pace University from New York. As of October 2020, Mike Adenuga has a net worth of US$9.1 Billion.
1. Aliko Dangote – Fortune: US$10.6 Billion
Aliko Dangote is a Nigerian businessman and philanthropist who is the founder and the chairman of the Dangote group. Dangote group is the most significant industrial conglomerate in Africa. As of January 2020, he was the 88th richest person in the world, and he is the wealthiest person in Africa. As of October 2020, Aliko Dangote has a net worth of US$10.6 Billion.
He is known for his innovative ideas and his love for business as he recalls that he used to sell sweets while he was in primary school. He got educated at Sheikh Ali Kumasi Madrasa and then at Capital High School of Kano. He received his bachelor’s degree in business studies and administration from the university in Cairo.
His company Dangote Group was established as a small trading company in 1977, and then he relocated to many other places in a single year. Today the company expands a multi-trillion-naira business, and it has grown to food processing, cement manufacturing, freight, and it dominates the sugar market in the country.
Talking of his personal like, Aliko Dangote is an ethnic Hausa Muslim from Kano, and he has been divorced. He has three daughters, and out of three, one of them is Halima Dangote. His great-grandfather was Alhasssan Dantata, who was the wealthiest West African at the time of his death in 1955.
So this was the list of top 10 richest black men and women in the world, and this list tells us that black ethnicity has grown very much over the years. They were one of the most surpassed entity at a time, but today, they have become an inspiration for many. They have made people around the world proud, and they are contributing significantly to the world’s economy. They have our utmost respect, and we should be inspired by all the philanthropy work that they do.