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African billionaires

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Who Is the Richest Black Man In the World?

With 8 billion people on this earth, it’s understandable if you don’t know every person that occupies the elite 1% ranks. Those are the people that are the wealthiest in the world. Many of them fly under the radar but own corporate empires so strong that they touch virtually every corner of the world. And when you further filter that 1% down to the richest Black people in the world (not just Americans but people of the diaspora from all over the world), the answers can be even more elusive. While it’s easy to assume that the wealthiest people of African ancestry must be celebrities , that’s not always the case. Even in the United States, the richest Black man is a venture capitalist and the owner of one of the top private equity firms in the country. But if you’re not sure who the richest Black man is in the world, keep reading as AfroTech has done the research for you. The answer might surprise you. Aliko Dangote: The Richest Black Man In the World So, who is the richest Black man...

Forbes Dropped Their List Of Africa's Billionaires — And Only Five Out Of 18 Are Black

Of the 18 richest people in Africa, only five of them are Black. That’s right: on the continent of Africa, 72 percent of the richest people are either white or of other non-Black descent. That’s according to the latest list compiled by Forbes, which revealed that more African billionaires are Afrikaners (descendants from the Dutch, French, and German colonialists in South Africa) than any other African subgroup. And this shouldn’t be surprising, considering how the after-effects of colonial times are still being felt today. In 2015, data released by New World Wealth (via BusinessTech of South Africa) revealed that there was an inequitable transfer of wealth to so-called “marginalized groups,” which includes groups of Black Africans that didn’t even have rights in the country prior to 1994 on account of apartheid. While these statistics about the richest people in Africa are distressing, it’s still better than the statistics regarding the number of Black billionaires in America. As...

South African Billionaire Patrice Motsepe Drops Over $5M On A Luxury Wine Farm

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...