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Patrice Motsepe has just added more to his $3.1 billion net worth. According to Business Insider, South Africa’s richest Black man — and one of the world’s Black billionaires — has just purchased a wine farm. The outlet reports that the luxury wine farm is called Hidden Valley, and it’s located in Stellenbosch and Somerset, South Africa. “The sale, which was recently announced, includes the purchase of a 28-hectare farm listed for sale at R160 million but was acquired for between R100 million ($5.5 million) and R120 million ($7.9 million) in cash,” confirms Business Insider. “The mining tycoon reportedly paid more for the property than former owner Riaan Stassen did in 2015 when the property was first purchased.” While it’s unclear why Patrice Motsepe decided to purchase this vineyard, what’s clear is that experts believe it will encourage tourism in the area. “This will be good in terms of advertising the brand and making it more attractive to other markets,” Wines of South Africa...
On Feb. 11, 2012, Whitney Houston passed away — and left the world broken-hearted. Shockingly, though, the Whitney Houston estate was in the red for more than $20 million at the time of her passing. This is despite the fact that she sold more than 100 million albums in her lifetime, and is the top-selling female R&B artist of the 20th century (according to the RIAA). A report by the New York Daily News says that, “Decades of narcotics use took such a toll on the R&B queen, who once sold more than 170 million albums.” The outlet also noted that, “She was leaning heavily on her mentor, music mogul Clive Davis, for financial help to keep her homes in New Jersey and Atlanta out of foreclosure,” and he reportedly loaned her $1.2 million to get out of debt. The Whitney Houston estate, therefore, was in a financial hole in 2012. But, in a twist of fate, her passing resulted in an extreme album and song sales spike: she sold 3.7 million albums and 4.3 million singles worldwide in the first...
The world’s richest Black man could be adding $2.76 billion to his net worth, depending on the terms of the sale. According to Reuters, the Nigerian cabinet just approved its state oil firm, NNPC, to buy a 20 percent share of Aliko Dangote’s oil refinery. NNPC will purchase the stake for $2.76 billion, according to a statement provided by Timipre Sylva, the junior oil minister. The approval of this deal comes just two months after the initial term sheets were signed between the parties. As of this writing, the NNPC says that they are approaching banks to finance the purchase of this stake. Additionally, the Dangote Group claims that NNPC and three other firms had approached their company to purchase the stake in the oil refinery. The goal, ultimately, was to secure crude oil supply agreements — agreements that are driven by Nigeria’s desire to come off its foreign dependence on refined oil. While Nigeria is Africa’s number one exporter of crude oil, it exclusively imports all of its...
If there’s one thing that DaBaby knows how to do, it’s keep himself in the headlines. His recent performance at this year’s Rolling Loud festival caused a world of controversy for a number of reasons. First, according to Variety, he earned the ire of Megan Thee Stallion’s fans when he brought out Tory Lanez (right after Megan’s set, no less). Then, came the homophobic HIV rant. And finally came the trending news around the mispronunciation of “adidas.” But all that controversy generates money for the man born Jonathan Kirk in North Carolina. His collection of cars, cash, and hit songs have given him a high net worth — higher than most of his contemporaries, in fact. What is DaBaby’s net worth in 2021? DaBaby Net Worth 2021: $5 Million According to Celebrity Net Worth, DaBaby has a net worth of $5 million in 2021. Most of his net worth comes from his successful chart-topping singles and albums. His first bout of success came in 2019, when he released his debut studio album, “Baby on...
Chris Tucker is an actor who rose to fame thanks to the success of the “Rush Hour “ films, alongside Jackie Chan. He is also a stand-up comedian with several beloved comedy specials under his belt. And though he’s not as popular as he once was, Tucker is still revered as one of the greatest comedic talents in the world. However, at the height of his popularity, Tucker actually had a negative net worth. How was that possible? And has anything changed since that time? Let’s take a look at Chris Tucker’s net worth in 2021, and see if he’s doing any better now. Chris Tucker Net Worth 2021: No Longer In The Red In 2021, Celebrity Net Worth reveals Chris Tucker has a net worth of $5 million. While that’s certainly nothing to sneeze at, it’s a long way away from what his net worth could be. When “Rush Hour” became a success, he negotiated a staggering $20 million salary to appear in the sequel. Then, he negotiated another contract which also included his salary for “Rush Hour 3.” And on...
From media and entertainment to private equity and investments, Black billionaires are proof that despite the odds we can achieve true financial freedom. This year, Forbes released its 2021 Billionaires list with a record-breaking number of 2,755 billionaires making the cut — a jump of 660 from its list published one year ago. Even across age, geographic locations, industries and race, today’s incredible Black businessmen and women are still showing that it’s possible to overcome obstacles and join one of the most esteemed populations in the world. Of the many billionaires on the list, here are the world’s Black billionaires in 2021 who represent amongst the richest group worldwide. Jay-Z – $1.4 Billion Jay-Z broke the glass ceiling for Hip Hop as the culture’s first billionaire, but his fortune continues to grow on account of his many business endeavors. As AfroTech previously reported, much of his wealth stems from sales from Roc Nation, Armand de Brignac, his D’Usse cognac, music...
Despite the widespread economic pain the pandemic has inflicted across the country, the U.S. stock market indices posted record highs lately, making many investors quite a bit richer. There are real opportunities to build wealth by investing today and you don’t have to miss out. Financial firms have made it easier than ever to invest with smartphone apps that can get you started with just a few dollars. If you’re new to investing, it’s understandable if you’re not sure which app-based investing platforms are reputable, which ones fit your investing needs, and what the investing requirements of each are. Here’s a quick guide to three of the most reputable app-based brokerage services (as reviewed by Bankrate , NerdWallet , and Forbes ) on the market today: Acorns When you sign up for this app and link a credit or debit card to it, Acorns will round up your purchases to the nearest dollar and invest your spare change, if you’d like. You can also make recurring contributions for as...
If you love Black comedy, then you’re likely familiar with Broderick Stephen Harvey, better known as Steve Harvey. He’s a successful comedian, broadcaster, author, game show host, and businessman. His strong drive and talent are major contributors to his success. Just how successful is Steve Harvey? Let’s take a look at his net worth. How Steve Harvey Went From Rags to Riches Steve Harvey has an estimated net worth of $200 million. He’s well-known as the host of “The Steve Harvey Morning Show,” as well as the popular game show “Family Feud.” Harvey also starred in his own sitcom, “The Steve Harvey Show” for five seasons. Steve Harvey hosted “ Showtime at the Apollo” and has appeared in many stand-up comedy acts. Not to mention, he’s an accomplished author of the self-help book “Act Like a Woman: Think Like a Man.” As a man who has seemingly done it all, it’s no surprise that Steve Harvey has a quite considerable net worth. With a total net worth of $200 million, Harvey’s estimated...
Michael Jordan is an immovable fixture in the sports pantheon, and by extension, the business world. On Sunday, April 19, ESPN will premiere “ The Last Dance ,” a 10-hour documentary that focuses on the icon’s final season (1997-98) with the Chicago Bulls. With never-before-seen footage, the series centers on Jordan’s role in one of the greatest dynasties in basketball history. As competitive as the greatest all-time player once was on the court, his off-court determination in business earned him the title as the highest-paid athlete of all time in 2017. Now, he is the first billionaire athlete with a $2.1 billion fortune, according to the Forbes list. Checks over stripes. Nike is Jordan’s longest and most recognizable endorsement deal. The relationship began in 1984 when the then-rookie and the sneaker conglomerate launched The Jordan Brand. As the legend goes, Jordan wanted to sign with adidas but ultimately signed with Phil Knight, co-founder of Nike. Following the first release...