I
n all, there are 2,781 billionaires in the world, 141 more than last year and 26 more than the record set in 2021, according to Forbes. They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021.
Each year, Forbes tallies its list of the world’s billionaires using a snapshot of financial information, including the latest stock prices, exchange rates, assets, and more. According to Forbes’ 2024 report, of the nearly 3,000 billionaires in the world, only 17 are Black, with one new entry this year: Magic Johnson. That’s fewer than 1%. Of those 17, only two are women.
As of 2024, here are the world’s 17 Black billionaires…
#17. Magic Johnson ($1.2 billion, Diversified):
The legendary US- born basketball player’s influence extends far beyond the court. Leveraging his star power, Magic Johnson has built a successful business empire encompassing ownership of the Los Angeles Sparks basketball team, a thriving investment company, and partnerships with major brands. His entrepreneurial spirit and dedication to building a business legacy are an inspiration to aspiring athletes and business minds alike. A combination of all this has landed him as a newcomer on the 2024 Forbes List and an addition to the growing number of Black billionaires.
#16. LeBron James ($1.2 billion, Sports):
One of the greatest basketball players of all time, American athlete LeBron James isn’t just a force on the court, but a savvy businessman as well. James has parlayed his dominance on the court into a lucrative empire that includes endorsement deals with major brands like Nike, production ventures through his SpringHill Company, and minority ownership of the Liverpool Football Club. His ability to translate his athletic achievements into financial success makes him a role model for future generations of athletes.
#15. Tiger Woods ($1.3 billion, Sports):
American professional golfer, Tiger Woods, continues to be a force both on and off the course. Even after facing injuries, his dedication to the sport and his iconic status have ensured his brand endorsements with Rolex, Nike, and other major companies remain strong. Beyond endorsements, Woods has ventured into business with his own restaurant and golf course design firm, solidifying his position as a legend in the sport and a successful entrepreneur.
#14. Tyler Perry ($1.4 billion, Media and Entertainment):
The prolific American actor, writer, and director Tyler Perry has built a media powerhouse with his Tyler Perry Studios. From humble beginnings, Perry’s creative vision and business acumen have resulted in a production company that churns out hit movies and television shows. Tyler Perry Studios not only entertains but also provides a platform for Black actors, writers, and directors, making Perry a true industry leader.
#13. Rihanna ($1.4 billion, Fashion/Beauty):
The Barbados-born music superstar Rihanna has translated her fame into a fashion and beauty empire. Her Fenty Beauty line, known for its diverse range of foundation shades, revolutionized the beauty industry, while her Savage X Fenty lingerie brand celebrates inclusivity and body positivity. Rihanna’s ability to leverage her influence to create products that empower and celebrate all women has made her a cultural icon and a successful entrepreneur.
#12. Michael Lee-Chin ($1.4 billion, Finance & Investments):
The Jamaican-Canadian billionaire, Michael Lee-Chin, is the mastermind behind the AIC conglomerate. This diversified holding company with a global reach encompasses not only financial services and insurance but also investments in hotels, restaurants, and even sugar plantations. Lee-Chin’s shrewd investment strategies and global perspective have secured his place as a leading figure in the world of finance.
#11. Strive Masiyiwa ($1.8 billion, Telecom):
The Zimbabwean-born telecom magnate, Strive Masiyiwa, is an inspiration for entrepreneurs across Africa. He is the founder and chairman of Econet Wireless, a leading mobile phone network provider that has revolutionized communication across the continent. Masiyiwa’s dedication to improving telecommunications infrastructure in Africa, along with his philanthropic efforts, has cemented his legacy as a visionary leader and a champion for development.
#10. Jay-Z ($2.5 billion, Media and Entertainment):
Hip-hop royalty and American Jay-Z has become a shrewd businessman. His diverse investments include his own record label, Roc Nation, a powerhouse in the music industry. Beyond music, Jay-Z has leveraged his influence to acquire an ownership stake in Armand de Brignac champagne, a testament to his taste and marketing savvy. He has also invested in companies like Uber, further solidifying his reputation as a business leader with a keen eye for opportunity.
#9. Patrice Motsepe ($2.7 billion, Metals and Mining):
The South African mining magnate, Patrice Motsepe, is a titan of African industry. He is the founder and executive chairman of African Rainbow Minerals, a leading producer of platinum, nickel, and other metals. Motsepe’s commitment to sustainable mining practices and his focus on social development initiatives within his company set a positive example for the industry, putting him on the 2024 list of Black billionaires, according to Forbes.
#8. Oprah Winfrey ($2.8 billion, Media and Entertainment):
There’s a reason they call her the Queen of Talk. American media mogul, Oprah Winfrey’s media empire continues to reign supreme. Her OWN network produces acclaimed television shows, and her production companies churn out movies and documentaries. Winfrey’s influence extends beyond entertainment, as she is a powerful advocate for social justice and education, making her a true media mogul and a cultural icon.
#7. Alexander Karp ($2.9 billion, Technology):
At the helm of Palantir Technologies, a data analytics company at the forefront of technological innovation, stands US-born tech founder Alexander Karp, a man who shapes the way data is used across various sectors. From government contracts to commercial partnerships, Palantir tackles complex data challenges, and Karp’s vision steers the company toward continued growth and industry leadership.
#6. Michael Jordan ($3.2 billion, Sports):
American NBA legend Michael Jordan‘s influence goes beyond basketball. His iconic status with Nike has translated into a highly lucrative partnership that features the ever-popular Air Jordan brand. Adding to his business savviness, Jordan’s ownership of the Charlotte Hornets basketball team allows him to stay connected to the sport he mastered while building a successful ownership stake in a major franchise.
#5. Abdulsamad Rabiu ($5.2 billion, Diversified):
The Nigerian businessman, Abdulsamad Rabiu, is a key player in Africa’s industrial landscape. He is the founder of BUA Cement, one of the largest cement producers in Africa, a company that has been instrumental in fueling infrastructure development across the continent. Rabiu’s holdings extend beyond cement, with ventures in sugar production and real estate solidifying his position as a diversified industrial force.
#4. Mike Adenuga ($6.7 billion, Diversified):
The Nigerian business mogul, Mike Adenuga, is a self-made billionaire whose telecom giant, Globacom, has revolutionized communication in Africa. Beyond telecom, his interests span the oil and gas sectors, showcasing his diverse business portfolio. Adenuga’s entrepreneurial spirit and ability to identify opportunities have made him one of Africa’s richest men.
#3. David Steward ($7.6 billion, Technology):
As the co-founder of World Wide Technology, a leading IT consulting and systems integration company, American founder David Steward is a major player in the tech industry. World Wide Technology provides essential technology solutions to businesses around the globe, and Steward’s vision has been instrumental in the company’s remarkable growth.
#2. Robert F. Smith ($9.2 billion, Finance & Investments):
More than just a private equity titan, American billionaire Robert F. Smith is a philanthropist dedicated to social impact. As the founder, chairman, and CEO of Vista Equity Partners, a leading investment firm, Smith has made strategic investments that have yielded impressive returns. However, his commitment goes beyond financial gain, as he is known for his generous philanthropic contributions that focus on education and racial equality initiatives.
#1. Aliko Dangote ($13.4 billion, Manufacturing):
The richest person in Africa, Nigerian businessman Aliko Dangote is a true industrial giant. The founder and president of the Dangote Group, a diversified conglomerate, Dangote’s influence extends far and wide. The Dangote Group encompasses businesses in cement production, sugar refining, flour milling, and more, making it a key player in driving economic development across Africa. According to the Forbes 2024 report, all of these make him the richest Black Billionaire in the world.
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