Here are the Black Billionaires Who Made the 2020 Forbes List
Photo Credit: Photo Credit: Chip Somodevilla/Getty Images
Forbes recently released its 2020 World’s Billionaires List ranking billionaires according to their net worth. While some billionaires remain on top, others saw their ranking drop drastically from the previous year. The list — finalized on March 18 — features 2,095 billionaires. Here are the Black billionaires that made the list representing various countries around the world.
The cement and sugar manufacturing guru from Nigeria landed at No. 162 with a net worth of $8.3 billion. He is not only Africa’s richest man but the world’s richest Black man. As the CEO and founder of Africa’s largest cement producer, Dangote Cement. At 62-years-old, Dangote owns 85 percent of the publicly-traded company.
Adenuga is the second richest man in Africa. He ranks at No. 286 with a net worth of $5.6 billion. He secured his wealth through oil and telecom endeavors. At 66-years-old, Adenuga’s mobile communications company, Globacom, has 50 million subscribers.
Robert F. Smith
The United State’s billionaire comes in at No. 330. Smith founded Vista Equity Partners to focus exclusively on investing in software companies in 2000. Now it is one of the greatest private equity firms, according to Forbes, with over $50 billion in assets.
As co-founder and chairman of World Wide Technology, Steward’s rise to the top wasn’t a smooth path. Forbes says he once watched as his car was repossessed from his office’s parking lot. Now, Steward lands at No. 538 on the Forbes’ list with a net worth of $3.5 billion.
With a net worth of $2.9 billion, Rabiu ranks at No. 712. The 59-year-old business mogul owns BUA Group, a cement, sugar, and real estate conglomerate. At the start of this year, Rabiu merged his two powerhouse cement companies, Obu Cement and Cement Co. of Northern Nigeria.
Oprah — the richest Black woman in the world — comes in at No. 836 with a net worth of $2.5 billion. According to Forbes, $2 billion of Oprah’s net worth is from reinvestments of her talk show profits.
At No. 1001, with a net worth of $2.1 billion, the former NBA legend has built a multi-billion dollar empire. Forbes reports that the six-time NBA champion amassed $1.7 billion (before taxes) of his net worth from corporate partnerships.
The Jamaica native comes in at No. 1063 with a net worth of $2 billion. He built his empire by investing in companies like National Commercial Bank Jamaica and AIC Limited.
Isabel dos Santos
As the eldest daughter of Jose Eduardo dos Santos, Angola’s former president, Isabel made No. 1513 on the list with a net worth of $1.4 billion. She is a stakeholder in many Angolan telecommunication and banking companies.
At No. 1513, Motsepe has a net worth of $1.4 billion. The South African founder became a billionaire in 2008. He was the first Black African to appear on the Forbes list. He is the founder and chairman of African Rainbow Minerals, a mining company.
Hailing from Zimbabwe, Masiyiwa falls at No. 1851 with a net worth of $1.1 billion. In 1998, Masiyiwa founded Econet Wireless Zimbabwe, a mobile phone network company. Forbes reports that he owns over 50 percent of the publicly-traded company.
Mohammed “Mo” Ibrahim — founder of Celtel International — comes in at No. 1851 as well. According to Forbes, his company was one of the first of its kind in Africa and the Middle East. Ibrahim sold Celtel International to Kuwait’s Mobile Telecommunications for $3.4 billion and kept $1.4 billion in 2005.
Hip hop’s first billionaire comes in at No.1990 with a net worth of $1 billion. According to Forbes, Jay-Z and Beyoncé’s On the Run II tour made $5 million a night for a total of $250 million. He also makes millions with his Armand de Brignac champagne and D’Ussé cognac.