For the previous year, Forbes has released its list of wealthiest billionaires in the world. Notably, about 10 persons from the total of 2,043 global billionaires are of black descents. From these statistics, it can be observed that the number of black billionaires has decreased as against the total of the previous year.
Taking a review of the world’s richest Black billionaires 2020, Aliko Dangote –a Nigerian business magnate –remains Africa’s richest man as well as the richest black man in the world currently. Though several reports revealed that the Nigerian magnate experienced some decline in his net worth, Dangote remains Africa’s richest man with the estimated net worth of $14.8 billion. Meanwhile, his net worth –initially estimated at $16 billion –fell as a result of the great reduction in the consumption of cement and the current setback in the value of Nigeria’s currency.
Also, Forbes’ list of the richest black man in the world comprises the three usual females who have constantly appeared as the only female billionaires of black descents. Meanwhile, the three black female billionaires are Nigeria’s Folorunsho Alakija (oil tycoon), America’s Oprah Winfrey (media tycoon) and Angola’s Isabel Dos Santos (investor).
Right now, we’re concerned about the details of the question, Who is the Richest Black Men in the World?
Top 10 Richest Black Men In The World 2020
|Rank No.||Richest Black Man||Net Worth|
|1.||Aliko Dangote||$14.8 Billion|
|2.||Mike Adenuga||$8.7 Billion|
|3.||Mohammed Al-Amoudi||$8.1 Billion|
|4.||Robert Smith||$4.47 Billion|
|5.||David Steward||$3 Billion|
|6.||Oprah Winfrey||$2.7 Billion|
|7.||Patrice Motsepe||$2.6 Billion|
|8.||Michael Lee-Chin||$2.5 Billion|
|9.||Isabel Dos Santos||$2.2 Billion|
|10.||Michael Jordan||$1.9 Billion|
|11.||Mohammed Ibrahim||$1.1 Billion|
|12.||Folorunsho Alakija||$1.1 Billion|
Details on Each Person On The List Of The Richest Black Person In The World
1. Aliko Dangote
- Net Worth: $14.8 Billion
- Country: Nigeria
- Sectors invested in Cement, Sugar, Flour Manufacturing
- Date of birth, Age: April 10, 1957
Aliko Dangote is regarded not only as of the richest Nigerian, but also the wealthiest black person in the entire world. Although his wealth encountered some recent decline, he has managed to maintain his unrivaled feat as Africa’s richest man year after year. At the moment, his net worth is valued at $14.8 billion.
Aliko Dangote began his business by selling commodities such as flour, sugar, and cement but when his business started yielding massive returns, the Nigerian tycoon soon became a manufacturer of the stated commodities through his Dangote Group. Although Dangote specializes in a number of commodities, cement-making is the major business dealing he is well known for and through this, his Dangote Cement –a subsidiary of his Dangote Group –is recognized as Africa’s biggest producer of cement.
In addition to Nigeria, Dangote supplies numerous commodities to a number of African countries and this comes under the influence of his Dangote Group which has several subsidiaries in Africa.
Apart from the reputation he has earned through his voluminous business empire, Dangote is considered one of the greatest contributors to the economic welfare of Nigeria. In addition to the massive sums he pumps into the country’s business sector, Dangote has had a significant hand in various developmental projects. By way of giving an instance, he once revealed the decision to set up a facility in Lagos State, Nigeria. Based on reports, Dangote will partner with a Chinese company, SINOTRUK, in the establishment of the facility –a $100 million plant intended for the construction of trucks.
2. Mike Adenuga
- Net Worth: $8.7 Billion
- Country: Nigeria
- Sector Invested In – Oil, Telecommunication
- Date of birth: April 29, 1953
Mike Adenuga is the second richest Nigerian. He has retained this significant position for years and this makes him one of the most influential business tycoons in Nigeria. He is likewise the richest Nigerian of Yoruba descent.
Besides Nigeria, Mike Adenuga’s business contributions have spanned across several other West African countries such as Ghana. In this regard, he was bestowed with “Companion of The Star of Ghana’’ –a Ghanaian national honour also recognized as the most significant honour in Ghana.
Meanwhile, Mike Adenuga was crowned with this honour in view of his massive investments in Ghana. To enlarge upon his massive contributions in Ghana, Mike Adenuga is among the largest holders of Ghanaian commercial and residential assets.
Although he is largely involved in telecom and oil businesses, Mike Adenuga is said to have built his wealth empire majorly through Globacom –his telecom business. At the same time, his telecom business is considered one of the largest network providers in Nigeria.
As a vibrant tycoon in the oil sector, Mike Adenuga has made his mark as the owner of Conoil –the first indigenously-owned oil exploration firm, in Nigeria, to churn out oil in suitable quantities for commercial purposes. Currently, Mike Adenuga’s net worth is valued at $8.7 billion.
3. Mohammed Al-Amoudi
- Net Worth: $1.2 Billion
- Country Of Origin: Ethiopia/Saudi Arabian
- Sectors invested in – Oil
- Date of birth; July 21, 1946
Although he is deeply descended from Ethiopia, Mohammed Al-Amoudi is recognized as one of the wealthiest Arab men worldwide. For the Arab, one of his parents –precisely his mother –was a native of Ethiopia and significantly, Mohammed Al-Amoudi has contributed massively to the investment sector of Ethiopia.
With respect to his Ethiopian investments, we can mention Midroc Ethiopia Technology Investment Group –his reputable company that has heavily invested in construction, transportation, agro-processing, leather making, and gold mining. Apart from Mohammed Al-Amoudi’s vigorous contributions in Ethiopia, the Arab possesses oil refineries in the duo of Sweden and Morocco. As regards his significant business fortune, Mohammed Al-Amoudi is said to have amassed the largest part of his wealth through his oil business and as it stands, his net worth swirls around $8.1 billion.
4. Robert Smith
- Net Worth: $4.47 Billion
- Country: United States Of America
Robert Smith is the husband of Hope Dworaczyk –winner of the Playboy Playmate of the Year award in 2010. As a vigorous entrepreneur, Robert Smith has built a massive empire in the installation of enterprise software outfits. In this regard, Robert Smith serves as the originator and owner of Vista Equity Partners –a privately-owned equity firm based in Texas.
Robert Smith’s professional service, as a private equity firm, distinguishes him not only as one of the richest black Americans but also as one of the richest black people in the world. Presently, he is declared with a net worth of $4.47 billion.
5. David Steward
- Net Worth: $3 Billion
- Country: USA
6. Oprah Winfrey
- Net Worth: $2.7 Billion
- Country: United States Of America
- Sectors invested in – Media
Oprah Winfrey is highly regarded not only as one of the richest black persons but also the richest person among the African-Americans in the world. Oprah Winfrey, who formerly served as the queen of Daytime TV, is the reputable owner of Oprah Winfrey Network (OWN) –a cable channel. Oprah Winfrey Network –a previously embattled cable channel –is currently associated with a favourable inflow of cash. Under the influence of a number of fruitful drama and sitcom partnerships with Tyler Perry, the cable channel has attained high standards which place Oprah Winfrey around the net worth of $2.7 billion.
Over the years, Oprah Winfrey has earned great recognition and respect from Americans, Africans and many other people across the globe. Going by the nickname “Queen of All Media’’, Oprah Winfrey is declared the greatest Black-American philanthropist and the current richest African-American. Also in the entirety of North America, Oprah Winfrey is regarded as the first and only black person to have appeared among multi-billionaires.
7. Patrice Motsepe
- Net Worth: $2.6 Billion
- Country: South Africa
- Sectors invested in – Minning
- Date of birth: January 28, 1962
Patrice Motsepe is undoubtedly the first black person to emerge as a billionaire in South Africa. For years, he made a significant mark as a mining magnate. Meanwhile, his business fortune –like a mining magnate –came under the influence of his African Rainbow Minerals. Currently, Patrice Motsepe has strengthened his business strategy with the decision to invest once again through private equity. In an attempt to buttress his investment dealings, Patrice Motsepe established African Rainbow Capital –his newly-developed investment company through which he has invested in South Africa’s top financial organizations.
Though Patrice Motsepe is mostly recognized for his reputable investment dealings, the South African mining magnate has spanned his interests beyond investment and this makes him the owner and president of Mamelodi Sundowns Football Club –one of the renowned clubs in South Africa’s professional football league.
Over and above that, Patrice Motsepe has built himself a distinguished reputation as one of the philanthropists South Africa boasts of. In honour of his philanthropic efforts towards the welfare of many South Africans, Patrice Motsepe’s name has constantly appeared among the most influential South Africans. Also noteworthy, the black South African once contributed half his net worth to some charitable causes in South Africa. Currently, Patrice Motsepe’s net worth is no less than $2.6 billion.
8. Michael Lee-Chin
- Net Worth: $2.5 Billion
- Country: Canada/Jamaica
9. Isabel Dos Santos
- Net Worth: $2.2 Billion
- Country: Angola
- Sectors invested in – Business investment
- Date of birth: April 20, 1973
Isabel Dos Santos is not only Angola’s richest person but also the richest black woman in the world. She is the eldest female child of the outgoing President in Angola. As an influential investor and the richest Angolan, Isabel Dos Santos accounts for massive stakes in the pair of Banco BIC and Unitel (Unitel is the biggest mobile phone network in Angola).
Isabel Dos Santos spans her heavy investment dealings beyond Angola. Together with Americo Amorim (one of the billionaires in Portugal), she is the owner of Galp Energia –a large firm specializing in oil and gas. Meanwhile, Isabel Dos Santos’ ownership of Galp Energia accounts for a 6% stake and in Banco BPI, she owns about 19% stakes (Banco BPI is the fourth-largest bank in Angola). Likewise in Nos SGPS (a TV and telecom authority in Portugal), Isabel Dos Santos appears within the group of controlling stakeholders.
With her heavy investments within and beyond Angola, Isabel Dos Santos has remained the world’s richest black woman for years and at the moment, her net worth is estimated at $2.3 billion.
10. Michael Jordan
- Net Worth: $1.9 Billion
- Country: United States Of America
- Sectors invested in – Basketball, Brand Partnership
- Date of birth/Age: February 17, 1963
Michael Jordan is a basketball player and the greatest in the sport of basketball. Significantly, he occupies the largest shareholding in the entire stakes of Charlotte Bobcats. Also, he is involved in massive business deals with giant companies such as Upper Deck, Hanes, and Gatorade. Although he has the highest shareholding portion in Charlotte Bobcats, the largest portion of his money stems from Brand Jordan.
Brand Jordan is a sportswear deal with Nike and it is reported with high sales estimated at $1 billion. As regards current estimates, Michael Jordan has the net worth of $1.9 billion and this makes him the ninth richest black man in the world.
11. Mohammed Ibrahim
- Net Worth: $1.1 Billion
- Country: The United Kingdom/Sudanese
- Sectors invested in – Mobile Telecommunication, Investments
- Date of birth: 1946
Mohammed Ibrahim is a renowned British investor. Previously, he garnered business fortune through his establishment of Celtel –a mobile phone giant in Africa. However, in 2005, Mohammed Ibrahim had a business bargain with MTC –a company based in Kuwait. Through the bargain, MTC acquired Celtel for an estimated sum of $3.4 billion.
After the sale of his telecom company (Celtel), Mohammed Ibrahim came up with another investment through Satya Capital –a private equity company headquartered in Britain. Though Satya Capital is located in the UK, the equity company is largely focused on Africa. Currently, Mohammed Ibrahim is associated with the net worth of $1.1 billion and this gives him the tenth spot on our list of Richest Black Man in the World and Country of Origin.
12. Folorunsho Alakija
- Net Worth: $1.1 Billion
- Country: Nigeria
- Sectors invested in – Oil, Fashion
- Date of birth: 1951
Regarded as the third richest black woman in the world, Folorunsho maintains her ground as the second richest African woman just behind Isabel Dos Santos of Portugal. Besides her notable presence on this list, Folorunsho Alakija maintains an unparalleled feat as the richest Nigerian woman as well as the only female billionaire the country boasts of. Meanwhile, the Yoruba woman has remained in this position for quite a long time.
Folorunsho Alakija makes the best part of her surging wealth as the founder and owner of Famfa Oil –one of Nigeria’s leading oil companies. Also, Famfa Oil is a vibrant member of OML 127 –a profitable oil block situated in Nigeria’s Agbami oilfield.
Prior to her emergence into great business presence, Folorunsho Alajika began her professional career in a Nigerian merchant bank where she worked as a secretary. However, she dismissed herself from the bank job and moved to England where she acquired some expertise in fashion design. At a later time, Folorunsho Alakija returned to Nigeria and established a fashion-specific brand which provided high-profile clients with their fashion needs. Among her notable clients was Maryam Babangida –the wife of General Ibrahim Babangida who served as Nigeria’s military President from 1985 to 1993.
Alongside Mike Adenuga and Femi Otedola, Folorunsho Alajika is recognized as one of the leading oil tycoons in Nigeria. As it stands, her net worth is estimated at $1.1 billion.
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