It is no secret that the Black community has long been underrepresented in the field of business. However, this is slowly changing, as evide...
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It is no secret that the Black community has long been underrepresented in the field of business. However, this is slowly changing, as evidenced by the 2023 Forbes Billionaires List which was released on Tuesday, April 4, 2023.
This year, there are 16 Black billionaires on the list, with a combined net worth of over $60 billion. While this is still a relatively small number compared to the overall list of 2,640 billionaires, it is a significant increase from the mere three black billionaires that were on the list in 2013.
# 1. Aliko Dangote. Net worth: $14.2 B. Industry: Manufacturing
Aliko Dangote acquired his wealth through his successful career as a businessman and entrepreneur in the manufacturing and commodities industries. He is the founder and chairman of the Dangote Group, a Nigerian conglomerate with interests in cement, sugar, flour, and other products.
The Dangote Group has become one of the largest industrial conglomerates in Africa, with operations in Nigeria and other African countries. Dangote is known for his strategic investments and focus on innovation, which has helped the Dangote Group grow rapidly over the years.
He is also involved in philanthropy, including supporting education and healthcare initiatives in Nigeria and other African countries through the Dangote Foundation. As of 2023, Aliko Dangote’s net worth is estimated to be around $14.2 billion, making him the richest person in Africa and one of the richest in the world.
# 2. Abdulsamad Rabiu. Net worth: $8.3 B. Industry: Diversified
Abdulsamad Rabiu acquired his wealth through his successful career as a businessman and entrepreneur in the manufacturing and energy industries. He is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in cement, sugar, flour, and other products. BUA Group has become one of the largest industrial conglomerates in Africa, with operations in Nigeria and other African countries.
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Just like Dangote, Rabiu is involved in philanthropy, focusing on supporting education and healthcare in Nigeria and other African countries through the Abdul Samad Rabiu Initiative. As of 2023, Abdulsamad Rabiu’s net worth is estimated to be around $8.3 billion.
# 3. Robert F. Smith. Net worth: $8 B. Industry: Finance and Investments
United States’ Robert F. Smith acquired his wealth through his successful career as a businessman and investor in the technology industry. He is the founder and CEO of Vista Equity Partners, a private equity firm that specializes in investing in enterprise software companies.
Vista Equity Partners has become one of the most successful private equity firms in the world, with a portfolio of companies that includes major players in the technology industry like Finastra, Marketo, and Ping Identity.
Smith is known for his strategic investments and focus on operational improvements, which have helped Vista Equity Partners generate strong returns for its investors. He is also involved in philanthropy, including supporting education and social justice initiatives through the Robert F. Smith Foundation. As of 2023, Robert F. Smith’s net worth is estimated to be around $8 billion.
# 4. Mike Adenuga. Net worth: $6.1 B. Industry: Diversified
-Profile: Mike Adenuga acquired his wealth as a businessman and entrepreneur in the telecommunications and oil industries. He founded the telecommunications company Globacom in 2003, which has since become one of the largest mobile phone networks in Nigeria and across Africa.
Adenuga is also the founder of the oil exploration company Conoil Producing, which operates on the African continent. He is known for his strategic investments and partnerships, including with major multinational companies like Total and Chevron.
Adenuga is also involved in philanthropy and has made significant donations to education, health, and other social causes in Nigeria and other African countries. As of 2023, Mike Adenuga’s net worth is estimated to be around $6.1 billion.
# 5. David Steward. Net worth: $6 B. Industry: Technology
-Profile: David Steward acquired his wealth as a businessman and entrepreneur in the technology industry. He co-founded the IT services company World Wide Technology (WWT) in 1990, which has since become a leading provider of technology solutions to large corporations and government agencies. Steward is known for his strategic leadership and focus on customer service, which has helped WWT grow rapidly over the years.
He has also been involved in various other business ventures, including real estate and finance, and serves on the boards of several companies and organizations. Steward is also involved in philanthropy, as he supports education and healthcare initiatives in his hometown of St. Louis, Missouri in the United States of America. As of 2023, David Steward’s net worth is estimated to be around $6 billion.
# 6. Patrice Motsepe. Net worth: $2.7 B. Industry: Metals and Mining
South Africa’s Patrice Motsepe acquired his wealth through his successful career as a businessman and entrepreneur in the mining industry. He founded the mining company African Rainbow Minerals (ARM) in 1997, which has since become one of the largest mining companies in South Africa, with interests in gold, platinum, and other minerals.
Motsepe is known for his strategic investments and partnerships, including with major mining companies like Anglo-American and Glencore. He has also been involved in other industries, including finance, healthcare, and sports, and serves as the president of the South African football team Mamelodi Sundowns.
Motsepe is also involved in philanthropy and has pledged to donate half of his wealth to charitable causes through The Giving Pledge initiative. As of 2023, Patrice Motsepe’s net worth is estimated to be around $2.7 billion.
# 7. Oprah Winfrey. Net worth: $2.5 B. Industry: Media and Entertainment
Oprah Winfrey acquired her wealth through her successful career as a talk show host, media executive, and philanthropist. She first gained national attention with her talk show, “The Oprah Winfrey Show,” which aired for 25 seasons and became one of the highest-rated television shows in history. Winfrey later founded her own media company, Harpo Productions.
She has also been involved in other business ventures, including publishing, film production, and a stake in Weight Watchers. In addition to her career success, the American is known for her philanthropy. She founded the Oprah Winfrey Leadership Academy for Girls in South Africa and has donated millions to education, health, and social justice causes. As of 2023, Oprah Winfrey’s net worth is estimated to be around $2.5 billion.
# 8. Jay-Z. Net worth: $2.5 B. Industry: Media and Entertainment
Jay-Z might be the definition of a diversified portfolio. In addition to his media company Roc Nation, the “99 Problems” US rapper also has investments in Armand de Brignac champagne, D’Ussé cognac, and an extremely valuable fine art collection contributing to his now $2.5 billion worth. He recently sold his controlling stake in D’Ussé for $750 million, making him far and away the wealthiest figure in rap.
# 9. Michael Jordan. Net worth: $2 B
Michael Jordan acquired his wealth through his successful basketball career and various business ventures. Widely considered one of the greatest basketball players of all time, Jordan won six NBA championships and numerous individual awards throughout his career.
He also made history as one of the first athletes to sign lucrative endorsement deals, including with Nike, which released the popular Air Jordan sneaker line. Jordan’s business ventures also include ownership stakes in the NBA’s Charlotte Hornets, as well as various investments in real estate, restaurants, and other companies.
He’s involved in philanthropy — donating to education and health organizations. As of 2023, Michael Jordan’s net worth is estimated to be around $2 billion.
# 10. Strive Masiyiwa. Net worth: $1.9 B. Industry: Telecom
Strive Masiyiwa acquired his wealth through his work as a successful entrepreneur and businessman in the telecommunications industry. He was born in Zimbabwe and started his career as an engineer before launching his own company, Econet Wireless, in 1998.
Masiyiwa faced significant challenges in launching his business, including a government monopoly on telecommunications in Zimbabwe, but he persevered and built Econet into one of the largest mobile network operators in Africa. In addition to his work in telecoms, Masiyiwa has been involved in other industries, including banking, insurance, and renewable energy.
He is also known for his philanthropic efforts. For instance, he founded the Higherlife Foundation which provides education and scholarships to young people in Africa. As of 2023, Strive Masiyiwa’s net worth is estimated to be around $1.9 billion. - Style Rave
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