Wealth building has since begun thriving across industries for Black people. It’s evident in cement empires in Africa, private equity in the U.S., sports legends, software pioneers, entertainment moguls, and so on.
Here’s a look at the 20 Black billionaires making waves in 2025, their impressive net worth, and how they built their fortune.
This promises to be enlightening and fun; read on!
Top 20 Black Billionaires and their 2025 Net worth
Aliko Dangote
Source of Wealth: Cement, sugar
Net Worth: $23.9 billion
Citizenship: Nigeria
Aliko Dangote takes the first spot, all thanks to his dominance in the continent’s industrial territory. As the founder and chairman of Dangote Group, his empire spans cement, sugar, salt, and flour production. His flagship company, Dangote Cement, is the largest cement producer in Africa, operating in several countries and accounting for a significant share of the continent’s infrastructure development.
Dangote’s wealth is not only tied to manufacturing but also to strategic diversification and an expanding footprint across Africa. Despite economic fluctuations, his businesses have shown resilience, especially with the rising demand for construction and food products across the continent. Aliko Dangote is also known as the richest man in Nigeria and Africa.
David Steward
Source of Wealth: IT provider
Net Worth: $11.4 billion
Citizenship: U.S.
David Steward is the quietly powerful force behind World Wide Technology (WWT), a leading IT services provider for Fortune 500 companies. As co-founder and chairman, Steward built the company from the ground up, starting in 1990 with limited resources. Today, WWT generates billions in revenue annually and provides tech solutions to clients like Cisco, AT&T, and the U.S. government.
Robert F. Smith
Source of Wealth: Private equity
Net Worth: $10.8 billion
Citizenship: U.S.
Founder and CEO of Vista Equity Partners, a private equity firm specializing in software companies, Smith’s financial empire was built by acquiring and scaling enterprise software firms, which has proven incredibly lucrative. Vista manages over $90 billion in assets, making Smith one of the most potent Black investors in the world.
He gained mainstream attention in 2019 when he paid off the student loan debt of Morehouse College’s graduating class, spotlighting his wealth and commitment to social impact.
Alexander Karp
Source of Wealth: Software firm
Net Worth: $8.4 billion
Citizenship: U.S.
Alexander Karp is the co-founder and CEO of Palantir Technologies, a software company known for its data analytics solutions used by government agencies, intelligence units, and large corporations. While Palantir operates in a controversial niche, i.e., defense, and surveillance, its services are in high demand globally.
Karp, who holds a Ph.D. in philosophy, has always stood out as an unconventional tech leader. His company went public in 2020 and has since grown its client base across the finance, health, and defense sectors. Karp’s fortune is closely tied to Palantir’s performance and expansion into commercial data solutions, solidifying his spot among the world’s wealthiest Black entrepreneurs.
Mike Adenuga
Source of Wealth: Telecom, oil
Net Worth: $6.8 billion
Citizenship: Nigeria
Mike Adenuga is Nigeria’s second-richest man and a business tycoon with deep roots in telecommunications and oil. His telecom company, Globacom, is one of Nigeria’s largest mobile network operators, competing with global brands and serving millions of users. In the oil sector, his company, Conoil, operates upstream and downstream assets, contributing to his diversified income streams.
Adenuga’s rise to wealth is built on bold investments and a willingness to take risks in challenging markets. Often media-shy, his quiet power has helped shape Nigeria’s telecom landscape. His ability to straddle multiple high-revenue industries keeps him among Africa’s elite billionaires.
Abdulsamad Rabiu
Source of Wealth: Cement, sugar
Net Worth: $5.1 billion
Citizenship: Nigeria
As a founder and chairman of BUA Group, a Nigerian conglomerate with business interests in cement production, sugar refining, and real estate, his company has been instrumental in reducing Nigeria’s reliance on imports by developing large-scale local manufacturing plants. BUA Cement, one of the top players in Nigeria’s cement market, competes directly with Dangote Cement.
Rabiu’s business philosophy emphasizes vertical integration and self-sufficiency. His investments have made him billions and created thousands of jobs in Nigeria. With increasing infrastructure development across West Africa, Rabiu’s businesses are positioned for long-term growth. He’s also involved in philanthropy, especially in Nigeria’s education and health sectors.
Michael Jordan
Source of Wealth: Sport (Charlotte Hornets), endorsements
Net Worth: $3.5 billion
Citizenship: U.S.
Basketball legend Michael Jordan has turned his athletic legacy into a business empire. While his six NBA championships with the Chicago Bulls made him a global icon, his post-retirement business moves built his billionaire status. His stake in the Charlotte Hornets, which he sold in 2023 for a significant profit, was a major financial win.
Jordan’s long-term partnership with Nike led to the massively successful Air Jordan brand, which continues to generate billions annually. Add in investments, endorsements, and his ownership in various ventures, and Jordan stands as the richest athlete in the world. His journey is the blueprint for athletes looking to transition from sports to lasting wealth.
Patrice Motsepe (tie)
Source of Wealth: Mining
Net Worth: $3 billion
Citizenship: South Africa
Patrice Motsepe became South Africa’s first Black billionaire by founding African Rainbow Minerals, a mining company focused on gold, platinum, and ferrous metals. His entry into mining came post-apartheid through government-backed Black Economic Empowerment (BEE) initiatives, but his business savvy ensured sustainability beyond policy support.
Motsepe’s influence extends beyond business. He owns Mamelodi Sundowns Football Club and was elected President of the Confederation of African Football (CAF) in 2021. He’s also known for philanthropy, pledging to give away half his fortune through the Giving Pledge, joining the ranks of global billionaires committed to solving social challenges.
Oprah Winfrey (tie)
Source of Wealth: TV shows
Net Worth: $3 billion
Citizenship: U.S.
From her groundbreaking talk show, The Oprah Winfrey Show, she expanded into a multimedia empire that includes television networks, publishing, and film production. Her company, Harpo Productions, has been behind several successful shows and movies.
She became a billionaire by owning her content and leveraging her brand across various industries, from wellness to book publishing. Oprah also holds a stake in WeightWatchers and co-founded the lifestyle brand O, That’s Good!. Widely respected for her authenticity and influence, Oprah has inspired generations and continues to use her wealth for education, especially for young girls in Africa.
Jay-Z
Source of Wealth: Music
Net Worth: $2.5 billion
Citizenship: U.S.
Jay-Z (Shawn Carter) has built an impressive business portfolio that has taken him from rapper to billionaire. While music was his starting point, his business acumen pushed him into billionaire territory. His assets include Roc Nation, a sports and entertainment agency; his ownership stake in Armand de Brignac champagne and D’Ussé cognac; and investments in companies like Uber and Block.
Jay-Z is also a cultural influencer and advocate for economic empowerment within the Black community. His business model emphasizes ownership of music, brands, and platforms. Along with Beyoncé, he represents one of the most powerful couples in the entertainment and business world.
Adebayo Ogunlesi
Source of Wealth: Private equity
Net Worth: $2.2 billion
Citizenship: U.S.
Adebayo “Bayo” Ogunlesi is the Chairman and Managing Partner of Global Infrastructure Partners (GIP), a private equity firm that manages multi-billion dollar energy, transportation, and infrastructure assets. A Harvard-trained lawyer and investment banker, Ogunlesi made headlines when GIP acquired London Gatwick Airport, one of several global transport assets under his firm’s management.
Ogunlesi sits on the board of Goldman Sachs and has advised on policy and investment issues internationally. Though not a media fixture, his strategic acquisitions and management of critical infrastructure assets have quietly placed him among the world’s richest Black investors.
Magic Johnson (tie)
Source of Wealth: Basketball, investments
Net Worth: $1.5 billion
Citizenship: U.S.
Earvin “Magic” Johnson transformed his NBA fame into a sprawling investment empire. After retiring from basketball, he founded Magic Johnson Enterprises, which has investments in real estate, sports, movie theaters, and fast-food franchises. He’s held ownership stakes in the Los Angeles Dodgers, LAFC, and Washington Commanders.
His focus has often been on underserved communities, bringing businesses and jobs to urban areas. Johnson is also a respected speaker and advocate for HIV/AIDS awareness. His ability to bridge sports, community development, and investing has made him a role model for athlete-entrepreneurs.
Femi Otedola (tie)
Source of Wealth: Energy, utilities
Net Worth: $1.5 billion
Citizenship: Nigeria
Femi Otedola acquired his wealth in the energy sector as the former chairman of Forte Oil. He later shifted focus to power generation and infrastructure, acquiring a controlling stake in Geregu Power Plc, one of Nigeria’s leading electricity producers. His investment in the power sector has grown in value and positioned him as a key player in Nigeria’s energy transition.
Otedola is also known for strategic stock investments and influence in Nigeria’s financial markets. His philanthropic work includes education, healthcare, and youth development. With a keen eye for opportunities, Otedola’s resurgence in recent years has solidified his place on this list.
Tope Awotona (tie)
Source of Wealth: Software
Net Worth: $1.4 billion
Citizenship: United States
Tope Awotona is the Nigerian-American founder of Calendly, a scheduling software that exploded in popularity during the remote work boom. What started as a frustration with back-and-forth emails became a billion-dollar idea. By 2021, Calendly had reached unicorn status — and by 2025, Awotona’s net worth reflects the company’s global success.
Awotona bootstrapped the business before attracting major investors like OpenView and Iconiq Capital. His story is celebrated as a powerful example of immigrant entrepreneurship in the tech world. As Calendly continues to expand with new features and integrations, Awotona’s wealth — and impact — keep growing.
Tyler Perry (tie)
Source of Wealth: Movies, Television
Net Worth $1.4 billion
Citizenship: U.S.
Tyler Perry built his fortune by creating, producing, and owning his content especially the Madea film franchise, which generated hundreds of millions globally. His studio, Tyler Perry Studios, is one of the largest film production studios in the U.S., situated on a 330-acre lot in Atlanta.
What sets Perry apart is his complete control over his creative projects: from writing and directing to producing and distributing. He’s also forged partnerships with major platforms like BET and Netflix. Beyond entertainment, Perry is a committed philanthropist and advocate for underrepresented voices in Hollywood.
Tiger Woods (tie)
Source of Wealth: Golf
Net Worth: $1.4 billion
Citizenship: U.S.
Tiger Woods redefined golf and athlete endorsement deals. Over his decades-long career, he’s earned hundreds of millions from endorsements, prize money, and business ventures. While injuries and personal challenges affected his playing time, Woods continued to ink lucrative deals with brands like Nike, TaylorMade, and Rolex.
He co-founded TMRW Sports, which is focused on tech-driven golf entertainment, and has invested in golf course design. Woods’ brand power remains unmatched in the sport, making him one of only a few athletes to reach billionaire status through a mix of talent, longevity, and marketability.
Rihanna (tie)
Source of Wealth: Music, cosmetics
Net Worth: $1.4 billion
Citizenship: Barbados
Rihanna (Robyn Fenty) became a billionaire not just through her chart-topping music but by disrupting the beauty and fashion industries. Though she’s taken a break from music, her business ventures have pushed her net worth past the billion-dollar mark. Her brand, Fenty Beauty, launched with LVMH, revolutionized cosmetics by offering inclusive shades for all skin tones. Her lingerie brand Savage X Fenty also found massive success.
Rihanna represents a new era of celebrity entrepreneurs who use their platforms to create lasting, inclusive brands with global reach.
LeBron James
Source of Wealth: Basketball
Net Worth: $1.3 billion
Citizenship: U.S
Away from his impressive basketball career, his lifetime deal with Nike, investments in companies like Blaze Pizza and Beats by Dre, and his co-founding of SpringHill Company (a media and entertainment firm) contribute significantly to his net worth.
LeBron is also a vocal advocate for education, having opened the I PROMISE School in Akron, Ohio. His play on the court continues to dominate, but it’s his savvy off-court moves that have secured his financial legacy.
Strive Masiyiwa
Source of Wealth: Telecom
Net Worth: $1.2 billion
Citizenship: Zimbabwe
Strive Masiyiwa is the founder of Econet Group, a telecom giant that operates across Africa. He’s considered one of the pioneers of Africa’s mobile revolution, bringing wireless communication to millions. His entrepreneurial journey, which included legal battles to deregulate telecom in Zimbabwe, is often cited as an example of perseverance and impact.
Masiyiwa also sits on multiple global boards, including Netflix and Unilever, and is deeply involved in philanthropy especially education, healthcare, and entrepreneurship in Africa. His quiet leadership style and broad vision have earned him global respect
Michael Lee-Chin
Source of Wealth: Mutual funds
Net Worth: $1.1 billion
Citizenship: Jamaica-Canada
Michael Lee-Chin is a Jamaican-Canadian investor who built his fortune through Portland Holdings, an investment company with interests in financial services, media, and tourism. His wealth is largely tied to National Commercial Bank Jamaica and other mutual fund investments made early in his career.
Lee-Chin is a prominent advocate of wealth building in the Black community and emphasizes the importance of strategic investing. He’s also a philanthropist, donating millions to educational and healthcare institutions in Canada and the Caribbean. His story embodies disciplined investing and long-term vision.
Rounding up,
From building cement empires in Africa to revolutionizing private equity in the U.S., these 20 Black billionaires have amassed impressive fortunes and redefined what’s possible across industries. Their stories reflect vision, resilience, and the power of turning opportunity into lasting impact.
Whether they started from scratch or scaled family businesses to new heights, one thing’s clear: wealth creation takes strategy, long-term thinking, and bold decisions.
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