In October 2022, it was reported that Sean “Diddy” Combs became Hip-Hop’s third billionaire — preceded by Jay-Z and Kanye West.

Forbes has released its list of the 10 richest women in the world, and none of the women on the list are Black. Certainly, much ado has been made about Black women who are billionaires — and who can forget the fanfare surrounding Rihanna’s premiere on the Forbes Billionaire List thanks to the success of her Savage x Fenty brand? But that’s nothing compared to the trillions of dollars earned by the richest women in the world who did make the Forbes list. For example, Francoise Bettencourt Meyers (who is No. 1 on the list) is worth more than $74 billion, while runner-up Alice Walton (of Walmart fame) is worth more than $65 billion. Additionally, while many Black women millionaires (and billionaires) are self-made, many of the richest women in the world either come from generational wealth or had their wealth handed to them. For example, Miriam Adelson (No. 7) inherited her $27.5 billion net worth when her casino magnate husband, Sheldon, passed away. Susanne Klatten (No. 8) inherited...

The Forbes billionaire list has dropped, and Black men and women have landed on the list again. There are, of course, some “old reliables” on the list — names we’ve become used to seeing, and naturally equate with billionaire status. For example, Michael Jordan, Kanye West, and Jay-Z all made the Forbes billionaire list, though their placements on the list may be different than in previous years. Oprah, too, made the list — and she’s the richest Black American woman on the list, with a net worth totaling nearly $3 billion. Rihanna, too, made the list for the first time in history. What’s more, African billionaires made the list. Aliko Dangote — the richest man in Africa, whose career has been covered extensively at AfroTech — is the richest Black man in the world, with a net worth of an impressive $14 billion. Other African billionaires that made the list include Patrice Motsepe and Mike Adenuga. Interestingly, the Black billionaires from the United States are — with few exceptions...

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...

There’s a stereotype regarding Black billionaires and Black and wealthy individuals where many believe fortunes mostly come from being musicians, actors or athletes. This sends a message that we cannot obtain wealth outside of these industries, but that’s far from the truth. In fact, there are many Black millionaires in the United States that have found success outside of music, sports and entertainment. Unfortunately, the same cannot be said for the amount of Black billionaires that are too scarce compared to white billionaires who dominate in industries like the tech space. According to Forbes’ 2021 World’s Billionaires List, there are 724 billionaires in America yet only seven of them are Black. That’s just enough to seat at one dining room table since Black billionaires only make up less than one percent of the nation’s billionaire population. This low number comes as no surprise, but it’s an alarming figure that highlights the widening racial wealth gap in this country. Yet...

You know all about the world’s Black billionaires, but what do you know about their children ? Whether their parents are entertainers or private equity investors — whether their parents are African natural resources magnates or basketball legends — the members of the Billionaire babies club are part of an elite group. They never had to worry about whether they’d have extra money for an outing, or where their next meal was coming from. When activists talk about normalizing Black wealth, they had the sons and daughters of the world’s Black billionaires in mind. Some of them are behind Academy Award-winning films. Others lead private lives away from the spotlight. And still, others prefer to let their talent speak for itself. David Steward Jr., whose father is the founder of Worldwide Technology, never brings up his background when he speaks to the press. And, as the founder of Lion Forge Animation — which has produced Oscar-winning animated films like “Hair Love” — he doesn’t have to....

Rihanna has officially hit billionaire status! The singer, born Robyn Fenty, didn’t just rise to the top as an entertainer, but over the past few years she’s become quite the businesswoman thanks to Fenty Beauty — the cosmetics company made to make “women everywhere (feel) included.” After launching in 2017, Fenty Beauty is now the reason that Rihanna has hit billionaire status. The 33-year-old is now worth an estimated $1.7 billion, according to Forbes. Not only does this make her the wealthiest female musician in the world, but now Rihanna is alongside Oprah Winfrey as the richest female entertainer. An estimated $1.4 billion of her fortune is all thanks to Fenty Beauty which the “Love On The Brain Singer” owns half of. The rest of her coins comes from her lingerie company, Savage x Fenty, which is worth an estimated $270 million and the remaining amount is thanks to the money she’s made as a chart-topping musician and actress. If folks haven’t considered Rihanna a mogul yet, they...

LeBron James is officially the first active NBA player to earn $1 billion. According to a report from Sportico, James has earned a total of $330 million in playing salary since being drafted in 2003. Coupled with his $700 million in earnings from endorsement deals, merchandise, licensing and his media business, his total career earnings have reached the $1 billion mark. His current endorsement partners include AT&T, Beats, Blaze Pizza, GMC, Nike, PepsiCo, Rimowa and Walmart, all of which bring in more than $100 million annually for James. The latest addition to the bunch is a Fortnite partnership that’s pushing for the Laker star to reach a new level of upper-echelon status for NBA players. Sportico also reports that while NBA legend Michael Jordan far surpassed earning $1 billion — even $2 billion — this was achieved after his playing career ended, allowing James to be the man to make league history. James is coming off a career high in the off-season after his new film “Space Jam:...