Michael Jordan Net Worth: $2.2 billion Michael Jordan is the highest-paid athlete of all time, but not because of his salary from the Chicago Bulls. Diddy (also known as Puff Daddy or P. Diddy) is known for his Grammy-award-winning album No Way Out, but entrepreneurship preceded his recording fame. All rights reserved. Two years later, she founded Act 1 despite not even owning a fax machine -- just a phone. [1] In 2018, there was a record of 23 African billionaires on the list. Rapper Jay-Z (Shawn Carter) has founded and run a number of companies, his first being (the now defunct) Roc-A-Fella Records in 1995. [7], Smith was named in The Chronicle of Philanthropy's "Philanthropy 50" in 2017. In honor of Black Women's History Month, take a look at the top 10 richest Black women in the world. Being the first black woman alive to head a luxury brand, Robyn Rihanna Fenty's net worth as of 2021 is 1.7 billion dollars! EVENTS Black Men XCEL "I'm not a businessman / I'm a business, man," Jay-Z raps on Kanye West's "Diamonds of Sierra Leone (Remix)." Mayweather said: As someone who owns his own brand, I cant think of better partners than Deon (Deon Taylor), Roxanne (Roxanne Avent Taylor), Robert F. Smith the wealthiest African American in the world and Hidden Empire Films, a prolific Black-owned production company.[86], In 1988, Smith married his first wife, fellow Cornell alum Suzanne McFayden. These days he is focused on improving the lives of the people of Africa through his charitable foundation the Mo Ibrahim Foundation. Use the unsubscribe link in those emails to opt out at any time. Alexander Karp. Robert F. Smith is the founder, chairman, and chief executive of Vista Equity Partners. Kayne West is also the founder and owner of the fashion sneaker brand Yeezy. She famously overcame a poverty-stricken childhood to become the Queen of all Media. Smith married Hope Dworaczyk, the founder and CEO of skincare company MUTHA, a former Playboy playmate, healthy living advocate, and fashion editor, on July 25, 2015, after she gave birth to their first child in December 2014. One of Americas most generous philanthropists, Oprah continues to give to education causes and has spent about $100 million on the Oprah Winfrey Leadership Academy for Girls in South Africa. [90] He also has two sons and two daughters with his wife Hope. Heres a list of the handful of African American billionaires. At the time of the Apple deal, Dre reportedly surpassed Diddy to become the richest person in hip-hop. These Billionaires Sold The Most Stock So Far In 2023, How RFK Jr. Brought In More Than $9 Million Over The Past 18 Months, Checks & Imbalances: Mike Pences Multimillion-Dollar Windfall, Marianne Williamson Earned More Than $1.3 Million Over The Past 18 Months, Mike Pence Received More Than $4.8 Million From Speaking, Writing And Consulting Since The Start Of 2022, Billionaire Oligarchs Jets Flee Moscow As Putins Regime Plunges Into Crisis, Checks & Imbalances: Why Hunter Biden Likely Will Not Go To Jail, The Worlds Biggest Philanthropist Just Gave Away Another $4.6 Billion. Hov makes this list after years and years of investments have helped him rack up a net worth of $1.3 billion. She earned her fortune through various means. She is actually the first African American woman to own a production company! Three of the 10 are women and two of those women are entirely self-made. His biggest pile comes from Brand Jordan, a $1 billion (sales) sportswear partnership with Nike. [2] He has owned or operated Columbus Communications which includes Sauce Cable Company, Eastern Caribbean Gas Pipeline Company, Radio Jamaica, Reggae Beach resort, Senvia, and Trident Hotel resort. Did you know America's first black billionaire was from East Baltimore Chin was born in Port Antonio, Jamaica in 1951. Abbott's strike force to reopen Texas", "Why graduates of elite universities dominate the Time 100 and what it means for the rest of us", "Billionaire Robert Smith Launches $1.8M Program to Provide Microgrants to HBCU Students In Need", "Robert F. Smith Launching $1.8M Grant Program For HBCU Students", "For(bes) The Culture Newsletter: April Showers Bring Forth Impact And Influence In The White House, In Media And In Entrepreneurship", "Robert F. Smith Pledges $3.8M To Build Mobile Unit That Helps Black Men Be Proactive About Prostate Health", "Cornell receives $15 million for minority engineering student aid", "Exclusive FLOYD MAYWEATHER MAKING 'LAST DANCE' STYLE DOCUSERIES 'The GOAT', "Floyd Mayweather's "The GOAT" docuseries is officially in the works", "Floyd Mayweather Will Tell His Story His Way With 'The GOAT' Docuseries", "Floyd Mayweather Inks Life-Rights Deal With Hidden Empire Films, Announces 'The GOAT' Docuseries About Life and Career", "Hope Dworaczyk Smith Pregnant With Second Child! Rihanna didnt become a billionaire by singing, she is actually the founder of the Fenty Fashion house and the Fenty beauty brand! Not only is he rich, but he is also a helper in the black community as well! The Ukrainian government . Not surprisingly, only a very small percentage of them are Black. 14 Aliko Dangote. The beauticians trained there, called "Walker Agents," became well known throughout the black communities of the United States. (AP Photo/Chuck Burton), The Cement and commodities tycoon retains his title as the worlds richest black man this year. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. By The publication estimates her net worth at $600 . 2023 Celebrity Net Worth / All Rights Reserved. That value is constantly changing because of a stock price or bad investment, etc. Log in to your WTOP account for notifications and alerts customized for you. [2] He attended Carson Elementary School and East High School[3] in Denver. And while it goes without saying that its impressive when any Black man or Black woman makes the Forbes billionaire list, its also worth noting that there arethousands of billionaires on the list and only a handful is Black. However, she persevered and proved this characterization wrong. (Instagram/TheFentyIdol) At just 31 years old, Rihanna is officially the wealthiest female musician on the planet, according to Forbes . Walker (18671919) became one of the first American women to become a millionaire when she formed a business around a product she made for African-American hair care. Top 50 African American Billionaires & Millionaires 2022 Black History Milestones: Timeline | HISTORY He is 71 years old. Probably doesnt come as a surprise this early on the list, that he is also from Nigeria. [11] From 1994 to 2000, he worked for Goldman Sachs in technology investment banking, first in New York City and then in Silicon Valley. He is the co-founder of BET, which was acquired by Viacom in 2001. All rights reserved. He launched his clothing line, Fubu, in 1989, and over the next few years, he had to close the business three times as he learned the ropes of entrepreneurship. We share researched psychological facts on life, love, relationships, and everyday happenings! Back in 2015, Oprah Winfrey bought a. Johnson, the founder of Black Entertainment Television, or the BET network, shares the title of America's first black billionaire with his ex-wife, Sheila. His company was recognized as the top private equity firm on the BE100s last year, generating $14 billion in capital. In 2013, BE named the firm BE100s Financial Services Company of the Year and Smith as one of the Most Powerful Blacks on Wall Street. The 61 year old lives in London now, sitting at number 6 on the list of Black billionaires, but 967 overall with $3.3 billion. You knew Ye was on this list, thanks to what he has been able to do with fashion. Dangote is based in Nigeria and also does business in other African countries, including Benin, Cameroon, Ghana, South Africa, Togo, and Zambia. Jordan made $90 million playing in the NBA. Nigerias first female billionaire is the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil block on the Agbami deep-water oilfield in Nigeria. ), Round by Round Preview of a Potential Busta Rhymes vs Eminem Verzuz, Budding Entrepreneur Autumn Milan, Launches Autumn Lips Beauty Brand, Black-Owned Greeting Card Company Adeyemi Artistry Meets All Your Holiday Needs. Alex Karp is worth $1.1 billion, ranking 14th among Black Billionaires. African American IT Billionaire is the co-founder and CEO of data-mining firm Palantir Technologies, which received early backing from CIA investment arm, In-Q-Tel. "[27], In December 2022, taking a stand together against increasing instances of racism and antisemitism in the US, Smith joined New York City Mayor Eric Adams, Reverends Al Sharpton and Conrad Tillard, World Values Network founder and CEO Rabbi Shmuley Boteach, and Elisha Wiesel to host 15 Days of Light, celebrating Hanukkah and Kwanzaa in a unifying holiday ceremony at Carnegie Hall. He 'Grew Up in Bars' and Was Drinking By Age 10 But Entrepreneurs Changed His Life. In 2000, Smith launched Vista Equity Partnersand in the 16 years since then, Vista has grown to nearly $16 billion in assets and generated insane returns for its investors. He is worth $820 million currently. He sold customized pencils to peers in his first grade class. Got in Tax Evasion Trouble. [13][14], In 2000, Smith founded Vista Equity Partners, a private equity and venture capital firm of which he is the principal founder, chairman and chief executive. [61], Smith has received the Candle in Business and Philanthropy Award from Morehouse College,[62] the International Medical Corps Humanitarian of the Year Award,[63] Ebonys John H. Johnson Award,[64] and the Congressional Black Caucus Foundation's Chairman's Award, among others. The worlds richest Black man is the first Black entry on the Forbes billionaire list. [2][41][42] Also in 2014, Smith received an honorary doctorate from Huston-Tillotson University. Robert Louis Johnson (born April 8, 1946) is an American entrepreneur, media magnate, executive, philanthropist, and investor. In 2006, he founded Globacom, the second largest mobile phone network in Nigeria. Boss. "[30], In August 2020, Bloomberg reported that Smith was facing a tax inquiry regarding a potential failure to pay U.S. taxes on $200 million in assets, intended for U.S. charities, that were transferred through offshore entities. One in 50 African-American families are millionaires. [53] In May 2017, The Giving Pledge announced that Smith had joined as its first African-American signatory. The Dangote Group employs more than 11,000 people in industries such as sugar refining, flourmills, food distribution, and cement. Also of Nigerian decent, Adenuga owns the third largest mobile phone network in Nigeria. [38] According to The Wall Street Journal and The New York Times, Brockman's lawyer helped Smith set up the offshore entity. The Forbes billionaire list has dropped, and Black men and women have landed on the list again. Oprah also donated $10 million dollars to the victims of Hurricane Katrina to help them rebuild their homes. Al Sharpton, others gather for joint Kwanzaa, Hanukkah celebration", "Mayor Eric Adams, Rev. About He also founded RLJ Companies, a holding company that invests in various business sectors. He sold his stake in Barclays Arena, Tidal and Armand de Brignac champagne. Although considered the greatest basketball player of all time, Michael Jordan only made about $90 million during his stellar career in the NBA. However, out of the 607 Americans featured on the list, just four were black. He started his rapping career back in the early 2000s and produced his first album in 2004. [55][56], In 2018, Fund II Foundation gave a $2.7 million grant to the Louis Armstrong House Museum, and Smith has served as a board member since. [76] Smith was included on the Time 100, Time's list of the 100 most influential people in the world, in 2020. [39][40], The reports state that Brockman's proposal was a "take-it-or-leave-it offer". Toward the end of her life, Walker also traveled around the Caribbean and Latin America promoting her business and donated part of her wealth to charitable initiatives. Read more to find out if your favorite African American person is on the list! However, thanks to lucrative endorsements, like his lifetime deal with Nike, and big investments, like his purchase of the Charlotte Hornets, he has amassed a $1.9 billion net worth. Management Bernadette Giacomazzo is the SEO Manager at Blavity, Inc. She is also a NYC-based editor, writer, photographer, and publicist with a career spanning more than two decades in the entertainment industry. [57][58], In 2018, Smith was the largest individual donor at the City of Hope Gala, which funds prostate cancer treatment and breast cancer research for black men and women. Hes worth $7.1 billion. Entrepreneurs should start thinking about sellability sooner rather than later. Walker Laboratories. Robert Frederick Smith (born December 1, 1962) is an American billionaire businessman and philanthropist. Patrice Motsepe was the first African Black billionaire, back in 2008. Winfrey also generates revenue through several business endeavors, including ownership of the cable network OWN, Harpo Films, a multi-year content partnership deal with Apple, and her iconic talk show, The Oprah Winfrey Show. 10 Richest Black People In America and Their Net Worth BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Aliko Dangote $13.5 B Manufacturing 2. Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen, and. Earlier this month, Forbes published its annualWorlds Billionaires list, which ranks the richest people around the world based on the wealth theyve accumulated using stock prices and exchange rates as of February 2019. His net worth is at $1.8 billion (same as Kim Kardashian, and he actually owns a small piece of her SKIMS brand). [92][10][93][94][95], For other people named Robert F. Smith, see, "At Carnegie Hall, a New Leader With a Son Named Hendrix", "Billionaire Denver native donated $20 million to new African-American museum (Video)", "A Private Equity Titan With a Narrow Focus and Broad Aims", "Cornell Engineering To Recognize Robert F. Smith '85 With 2020 Distinguished Alumni Award", "5 things to know about Robert F. Smith, Morehouse donor to pay off Class of 2019's student loans", "Smith '85 to receive engineering college alumni honor", "Meet Robert F. Smith, the billionaire who's paying off student loans, owns a home in Malibu, and married a former Playboy model in a lavish Italian ceremony", "Who is Robert F. Smith? The firm has more than $46 billion in assets and is one of the best-performing private equity firms, posting annualized returns of 22% since inception. Vista has delivered a whopping 31 percent average annual rate of return to its investors since 2000. [1] He grew up in a predominantly African American, middle-class neighborhood in Denver, Colorado. 5 Things You Should Know About America's First African-American Billionaires, Damaging Results of The Mandated Return to Office, Christmas Tree Shops to Close All 70 Locations: 'I Wish Someone Could Save These Stores', 10 Benefits of Using AI in Cybersecurity Practices, Queen Latifah Says Female Leaders Must Do These Four Things If They Want To Succeed, Lawsuit Alleges Pickle Brand Stole 100-Year-Old Recipe to Create Nearly Identical Product Sold in Whole Foods: 'Massive Violation of Trust', 3 Essential Tactics You Need Do to Help Your Company Sell, Hustle Culture 'Sucks' But One Entrepreneur's 'Laziness Principle' Can Make You More Money With Less Work. [1][9][10], After graduating from Cornell, Smith worked at Goodyear Tire and Rubber Company, Air Products & Chemicals, and later at Kraft General Foods as a chemical engineer,[1] where he registered two United States and two European patents. Opinions expressed by Entrepreneur contributors are their own. Vista deals in the not-so-sexy category of enterprise software, which might be why he's flown largely under the radar. The brand scored collaborations and endorsement deals with various artists, athletes and designers, expanded its product line to include earbuds, speakers and a music streaming service and was acquired by Apple for $3 billion in 2014. Komen. This material may not be published, broadcast, written or redistributed. To counter threats and protect business-critical systems, businesses should incorporate AI into their cybersecurity practices. [19][20][21] As of 2019, Vista Equity Partners had closed more than $46 billion of funding. The company went public in 2020. AfroTech frequently covers Robert F. Smiths contributions to society at large, and the billionaires net worth continues to grow alongside his philanthropy. Beyonc, in addition to being a multi-platinum recording artist, performer and Tidal co-owner, has had a range of lucrative product endorsements throughout her career. Nigerias first female billionaire is the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil block on the Agbami deep-water oilfield in Nigeria. Michael Lee Chin is the 12th most wealthy black billionaire. Entrepreneurs Summit With over 1.4 billion dollars in his pockets, JZ ( Shawn Corey Carter) is an American singer, rapper, and music producer. As a teenager, coaches rejected Jordan from teams for being too short, despite his persistent interest in the sport. Oprah owns OWN network and O magazine, among other properties. Smith persisted, calling each Monday for five months. Nigerias Folorunsho Alakija, American TV mogulOprah Winfrey and Angolan investor Isabel dos Santos still remain the only black female billionaires in the world. His wealth has been achieved from a National Bank in Jamaica and an investment company in Canada. He will without a doubt become a billionaire with his television production company and likely one more NBA contract. Thats sure to bulk up his earnings moving forward. Opinions expressed by Forbes Contributors are their own. Let's take a look at the top 10 black billionaires in the world right now. He famously announced that he would pay the tuition debt for the entire graduating class of Morehouse University back in 2019, during his commencement speech. Smith joined the Giving Pledge last year. To end the South African problem, the Motsepe Foundation gave $320,000 to be shared between the 23 players going to the Womens World Cup, officials announced at a press conference in Johannesburg. Born in February 1988, the Barbados singer rose to fame when she was discovered by an American music producer called Evan Rogers! SistersInc. Out of the 2,755 billionaires across the globe in 2020, 724 of them hail from the United States and only a small fraction (seven) are of African descent. The celebrated actress, entertainer and entrepreneur has strong advice for women in business. The company's stock price went up more than 30% over the last year. Rihanna is also the founder of the Clara Lionel Foundation which supports and funds education initiatives and emergency response to natural disasters. Altogether, there are 15 Black billionaires with a combined wealth of $48.9 billion. Michael Lee-Chin is a Jamaican-Canadian business magnate, investor, and philanthropist . Robert F. Smiths net worth as of 2021 is currently standing at 6.7 billion dollars! Here's Why Investors Shrugged", "The Billionaire Behind the Biggest U.S. Tax Fraud Case Ever Filed", "Now the Richest Black American, He's Also One of America's Biggest Philanthropists", "Austin billionaire who paid off students' debt has history of giving back", "A "quiet" African American billionaire is offering Nigeria's rescued Chibok girls a new lease of life", "US tycoon helps Chibok pupils back into the classroom", "Robert Smith | Robert F. Kennedy Center for Justice & Human Rights", "Carnegie Hall Names New Board Chairman: Private-Equity Financier Robert F. Smith", "Cornell names Robert Frederick Smith School of Chemical and Biomolecular Engineering in recognition of the leadership of philanthropist", "Cornell names engineering school after alumnus", "7 More U.S. Philanthropists Sign Giving Pledge", "Billionaire Denverite Robert F. Smith pledges to pay off student loan debt for Morehouse College class of 2019", "NEXUS Summer Program Students Dream Big in Teen Entrepreneurship Challenge", "Louis Armstrong's Life in Letters, Music and Art", "Louis Armstrong's unseen artifacts almost ready for public view", "Warner/Chappell Music CEO Jon Platt Lauded at City of Hope Gala: 'He's the Obama of the Music Industry', "Billionaire, Power 100 Honoree, Robert F. Smith Donates to Prostate Cancer EBONY", "Riverbank's Cultural Center Renamed After $1 Million Gift", "Morehouse gets two $1M gifts at anniversary gala", "EBONY Power 100 2017 Honoree - Robert F. Smith", "President Obama to Deliver Final Keynote at 46th ALC Phoenix Awards Dinner - Congressional Black Caucus Foundation", "Harlem Columbia Grad Billionaire Man Robert F. Smith (Video)", "AU Announces 2015 Commencement Speakers | American University Washington DC", "JUST IN: Morehouse commencement speaker to pay off Class of 2019's student loans", "Billionaire Robert F. Smith pledges to pay off Morehouse College Class of 2019s student loans", "Graduation speaker pledges to pay class of 2019 student debt", "Morehouse Graduates' Student Loans to Be Paid Off by Billionaire", "Morehouse to use $1.5 million gift on scholarships and a new park", "Announcing the 2019 Carnegie Medal of Philanthropy Recipients", "Kendra Scott's and Robert Smith Invited to be Inducted in 2019 - Texas Business Hall of Fame", "These are the experts, leaders working with Gov. According to 2019 estimates, there are about 2,153 billionaires in the world and only 13 of them are Black. Meet The 15 Black Billionaires of the World (Yeah, ONLY 15 In The Whole World! Related: 10 Powerful Quotes From Oprah, 'The Queen of All Media'. He made his first million at just 26 years old, working in sales of lace, and soft drinks! Dr. Martin Luther King Jr. delivered his "I Have a Dream" speech. Copyright Tyler Perrys net worth is 1 billion dollars as of 2021! From poverty and segregation, David help his ground and went on to become one of the richest men in the world! Rabiu's children are this African billionaire's pride and joy, and they'll be set for life thanks to his $6.9 billion net worth. Palantir is a software company that collects and synthesizes data for big clients. [5][6] Smith earned a bachelor's degree in chemical engineering fromCornell University in 1985. These days he makes more in one year through his various ventures than he did during his entire professional basketball career. It turns out, the plot of land she was granted was sitting on over one billion barrels of potential oil. Whats more interesting is that only 8 of those 614 billionaires are actually black! Isabel Dos Santos is the daughter of Jose Eduardo dos Santos, the President of Angola who has reigned over a violent regime since 1979. Youre familiar with Ms. Winfrey and her story as a television personality turned media maven. Jordans net worth is $1.6 billion, good enough for 1852 on the overall list. Back in 2015, Oprah Winfrey bought a 10% stake and became an ambassador for the company. She began her professional career as an Executive Secretary in Lagos, Nigeria, while simultaneously launching her own tailoring business. Robert F. Smith. He currently lives in the U.K. and is one of the wealthiest people there. 2023 The Associated Press. In fact, The Dangote Group's businesses account for one fourth of all businesses on the Nigerian Stock Exchange. Tyler Perry proved that Black directors can bank thanks to his billionaire status. Aliko Dangote the richest man in Africa, whose career has been covered extensively at AfroTech is the richest Black man in the world, with a net worth of an impressive $14 billion. She grew the company through word of mouth, and by adding new types of services based on client needs. The 67-year-old business tycoon also graced the cover ofBLACK ENTERPRISEin June 2001. Here's Everyone On The Black Billionaire List Now | Essence Karp is the cofounder and CEO of data mining firm Palantir Technologies. Of the nearly 3,000 billionaires in the world, only 14 are Black. #2 among Black billionaires, but 372 overall. However, a lot of the credit also goes to his successful father Isyaku Rabiu, who was one of Nigeria's pioneering . Just behind Diddy, Jay-Z has a net worth of approximately $810 million, according to Forbes. ", "Influential Black Entrepreneurs - Robert Smith", "Vista Equity: The Biggest Software Group You've Never Heard Of", "Robert F. Smith - Vista Equity Partners", "Vista Equity Partners to pay $1.9 billion in private-equity deal for Apptio", "Vista Equity Partners to invest $1.5B in India's Reliance Jio Platforms", "Vista Equity Partners Is Acquiring Ping Identity", "What to know about Robert F. Smith, the man paying off Morehouse grads' student loans", "Vista's Smith named PEI's 2016 'Game Changer', "Cover Story: Robert F. Smith, Chairman & CEO of Vista Equity Partners", "Who Is Robert F. Smith?