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Here Are The Black People Who Made Forbes’ 2023 Billionaires List

Here Are The Black People Who Made Forbes’ 2023 Billionaires List

It is no secret that the Black community has long been underrepresented in the field of business. However, this is slowly changing, as evidenced by the 2023 Forbes Billionaires List which was released on Tuesday, April 4, 2023. This year, there are 16 Black billionaires on the list, with a combined net worth of over $60 billion. While this is still a relatively small number compared to the overall list of 2,640 billionaires, it is a significant increase from the mere three black billionaires that were on the list in 2013.

The Tesla CEO Elon Musk has officially been eclipsed as the richest person in the world by French luxury goods entrepreneur Bernard Arnault. With a $211 billion fortune, the 74-year-old engineer tops Forbes’ list of billionaires for 2023, overtaking Musk, who was first last year and is now in second place, by $31 billion.

Among the Black Billionaires on the list are a mix of familiar names and newcomers. Jay-Z has been named one of the world’s billionaires on Forbes’ list. The rap icon and successful entrepreneur was ranked #1217 as a result of his several successful endeavors, including his most recent choice to sell his stake in a liquor company. Roc Nation artist Rihanna is listed at #2020, mostly because of her Fenty Beauty brand. Her net worth is reportedly $1.4 billion this year.

Just as we have wealthier people on the list, there are people who have also fallen off the revered annual list. Ye, formerly known as Kanye West, fell off Forbes’ billionaire’s list after losing about $1.6 billion of his net worth when he lost several business deals following his antisemitic comments. Ye is not the only person to fall off the list. In fact, 254 one-time billionaires are no longer.

What is most encouraging about this trend is that it is not limited to the United States. Nigeria, for instance, is home to three of the 16 Black billionaires on the list. Aliko Dangote—the richest man in Africa—is the richest Black man in the world, with a net worth of an impressive $14.2 billion. Other African billionaires that made the list include Patrice Motsepe and Mike Adenuga.

The 2023 Forbes Billionaires List is a testament to the growing wealth and success of black people around the world. As the list continues to grow, it is clear that black people are becoming an increasingly powerful force around the globe.

Here are the Black people on Forbes 2023 Billionaires’ list…

#1. Aliko Dangote

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Photo: www.dangotecement.com

#124
Net worth: $14.2 B
Industry: Manufacturing
Profile: Aliko Dangote acquired his wealth through his successful career as a businessman and entrepreneur in the manufacturing and commodities industries. He is the founder and chairman of the Dangote Group, a Nigerian conglomerate with interests in cement, sugar, flour, and other products. The Dangote Group has become one of the largest industrial conglomerates in Africa, with operations in Nigeria and other African countries. Dangote is known for his strategic investments and focus on innovation, which has helped the Dangote Group grow rapidly over the years. He is also involved in philanthropy, including supporting education and healthcare initiatives in Nigeria and other African countries through the Dangote Foundation. As of 2023, Aliko Dangote’s net worth is estimated to be around $14.2 billion, making him the richest person in Africa and one of the richest in the world.

#2. Abdulsamad Rabiu

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Photo: www.buafoodsplc.com

#249
Net worth: $8.3 B
Industry: Diversified
Profile: Abdulsamad Rabiu acquired his wealth through his successful career as a businessman and entrepreneur in the manufacturing and energy industries. He is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in cement, sugar, flour, and other products. BUA Group has become one of the largest industrial conglomerates in Africa, with operations in Nigeria and other African countries. Just like Dangote, Rabiu is involved in philanthropy, focusing on supporting education and healthcare in Nigeria and other African countries through the Abdul Samad Rabiu Initiative. As of 2023, Abdulsamad Rabiu’s net worth is estimated to be around $8.3 billion.

#3. Robert F. Smith

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Photo: www.vistaequitypartners.com

#261
Net worth: $8 B
Industry: Finance and Investments
Profile: United States’ Robert F. Smith acquired his wealth through his successful career as a businessman and investor in the technology industry. He is the founder and CEO of Vista Equity Partners, a private equity firm that specializes in investing in enterprise software companies. Vista Equity Partners has become one of the most successful private equity firms in the world, with a portfolio of companies that includes major players in the technology industry like Finastra, Marketo, and Ping Identity. Smith is known for his strategic investments and focus on operational improvements, which have helped Vista Equity Partners generate strong returns for its investors. He is also involved in philanthropy, including supporting education and social justice initiatives through the Robert F. Smith Foundation. As of 2023, Robert F. Smith’s net worth is estimated to be around $8 billion.

#4. Mike Adenuga

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Photo: www.guardian.ng

#418
Net worth: $6.1 B
Industry: Diversified
Profile: Mike Adenuga acquired his wealth as a businessman and entrepreneur in the telecommunications and oil industries. He founded the telecommunications company Globacom in 2003, which has since become one of the largest mobile phone networks in Nigeria and across Africa. Adenuga is also the founder of the oil exploration company Conoil Producing, which operates on the African continent. He is known for his strategic investments and partnerships, including with major multinational companies like Total and Chevron. Adenuga is also involved in philanthropy and has made significant donations to education, health, and other social causes in Nigeria and other African countries. As of 2023, Mike Adenuga’s net worth is estimated to be around $6.1 billion.

#5. David Steward

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Photo: www.blackpast.org

#425
Net worth: $6 B
Industry: Technology
Profile: David Steward acquired his wealth as a businessman and entrepreneur in the technology industry. He co-founded the IT services company World Wide Technology (WWT) in 1990, which has since become a leading provider of technology solutions to large corporations and government agencies. Steward is known for his strategic leadership and focus on customer service, which has helped WWT grow rapidly over the years. He has also been involved in various other business ventures, including real estate and finance, and serves on the boards of several companies and organizations. Steward is also involved in philanthropy, as he supports education and healthcare initiatives in his hometown of St. Louis, Missouri in the United States of America. As of 2023, David Steward’s net worth is estimated to be around $6 billion.

#6. Patrice Motsepe

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Photo: www.sportnewsafrica.com

#1104
Net worth: $2.7 B
Industry: Metals and Mining
Profile: South Africa’s Patrice Motsepe acquired his wealth through his successful career as a businessman and entrepreneur in the mining industry. He founded the mining company African Rainbow Minerals (ARM) in 1997, which has since become one of the largest mining companies in South Africa, with interests in gold, platinum, and other minerals. Motsepe is known for his strategic investments and partnerships, including with major mining companies like Anglo-American and Glencore. He has also been involved in other industries, including finance, healthcare, and sports, and serves as the president of the South African football team Mamelodi Sundowns. Motsepe is also involved in philanthropy and has pledged to donate half of his wealth to charitable causes through The Giving Pledge initiative. As of 2023, Patrice Motsepe’s net worth is estimated to be around $2.7 billion.

#7. Oprah Winfrey

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Photo: @oprah/Instagram

#1217
Net worth: $2.5 B
Industry: Media and Entertainment
Profile: Oprah Winfrey acquired her wealth through her successful career as a talk show host, media executive, and philanthropist. She first gained national attention with her talk show, “The Oprah Winfrey Show,” which aired for 25 seasons and became one of the highest-rated television shows in history. Winfrey later founded her own media company, Harpo Productions. She has also been involved in other business ventures, including publishing, film production, and a stake in Weight Watchers. In addition to her career success, the American is known for her philanthropy. She founded the Oprah Winfrey Leadership Academy for Girls in South Africa and has donated millions to education, health, and social justice causes. As of 2023, Oprah Winfrey’s net worth is estimated to be around $2.5 billion.

#8. Jay-Z

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Photo: @nfr_podcast/Twitter

#1217
Net worth: $2.5 B
Industry: Media and Entertainment
Profile: Jay-Z might be the definition of a diversified portfolio. In addition to his media company Roc Nation, the “99 Problems” US rapper also has investments in Armand de Brignac champagne, D’Ussé cognac, and an extremely valuable fine art collection contributing to his now $2.5 billion worth. He recently sold his controlling stake in D’Ussé for $750 million, making him far and away the wealthiest figure in rap.

#9. Michael Jordan

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Photo: www.forbes.com

#1516
Net worth: $2 B
Industry:
Profile: Michael Jordan acquired his wealth through his successful basketball career and various business ventures. Widely considered one of the greatest basketball players of all time, Jordan won six NBA championships and numerous individual awards throughout his career. He also made history as one of the first athletes to sign lucrative endorsement deals, including with Nike, which released the popular Air Jordan sneaker line. Jordan’s business ventures also include ownership stakes in the NBA’s Charlotte Hornets, as well as various investments in real estate, restaurants, and other companies. He’s involved in philanthropy — donating to education and health organizations. As of 2023, Michael Jordan’s net worth is estimated to be around $2 billion.

#10. Strive Masiyiwa

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Photo: www.africa.businessinsider.com

#1575
Net worth: $1.9 B
Industry: Telecom
Profile: Strive Masiyiwa acquired his wealth through his work as a successful entrepreneur and businessman in the telecommunications industry. He was born in Zimbabwe and started his career as an engineer before launching his own company, Econet Wireless, in 1998. Masiyiwa faced significant challenges in launching his business, including a government monopoly on telecommunications in Zimbabwe, but he persevered and built Econet into one of the largest mobile network operators in Africa. In addition to his work in telecoms, Masiyiwa has been involved in other industries, including banking, insurance, and renewable energy. He is also known for his philanthropic efforts. For instance, he founded the Higherlife Foundation which provides education and scholarships to young people in Africa. As of 2023, Strive Masiyiwa’s net worth is estimated to be around $1.9 billion.

#11. Rihanna

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Photo: @badgalriri/Instagram

#2020
Net worth: $1.4 B
Industry: Fashion and Retail
Profile: Rihanna acquired her wealth through her successful music career and various business ventures. The Barbadian-American first rose to fame in the mid-2000s with hits such as “Pon de Replay” and “Umbrella” and has since become one of the best-selling musicians of all time. In addition to her music career, Rihanna has also launched successful fashion and beauty lines, including Fenty Beauty and Savage X Fenty. Fenty Beauty, in particular, has been a major success, with its inclusive range of makeup shades and innovative marketing strategies. Rihanna has also been involved in philanthropy, including founding the Clara Lionel Foundation, which supports education and health programs in underserved communities. As of 2023, Rihanna’s net worth is estimated to be around $1.4 billion.

#12. Michael Lee-Chin

Photo: www.jamaica.loopnews.com

#2020
Net worth: $1.4 B
Industry: Finance and Investments
Profile: Michael Lee-Chin acquired his wealth through his work as a successful investor and businessman. He was born in Jamaica and moved to Canada in the 1970s, where he worked a series of jobs before starting his own investment firm, AIC Limited, in 1987. Lee-Chin’s investment philosophy focused on long-term growth and value investing, and he quickly built a reputation as a skilled investor. He later founded Portland Holdings, a privately held investment company with holdings in various industries, including finance, tourism, and telecommunications. Lee-Chin has also been involved in philanthropic efforts, including a major donation to the Royal Ontario Museum in Toronto. As of 2023, Michael Lee-Chin’s net worth is estimated to be around $1.4 billion.

#13. Alexander Karp

Photo: www.nytimes.com

#2113
Net worth: $1.3 B
Industry: Technology
Profile: America’s Alexander Karp acquired his wealth through his work as the co-founder and CEO of Palantir Technologies, a data analysis company that provides services to government agencies and large corporations. Karp has a background in philosophy and law and co-founded Palantir in 2003 with a team of computer scientists and engineers. The company’s software has been used in a wide range of applications, including counterterrorism efforts, disaster response, and financial fraud detection. Palantir went public in 2020, and as of 2023, Karp’s net worth is estimated to be around $1.3 billion.

#14. Tiger Woods

Photo: @tigerwoods/Instagram

#2405
Net worth: $1.1 B
Industry: Sports
Profile: Tiger Woods acquired his wealth primarily through his highly successful golf career and various endorsement deals. The American turned pro in 1996 and quickly became one of the top golfers in the world, winning numerous championships and setting records along the way. Woods also made history as the first athlete to earn over $1 billion in career earnings, largely due to his lucrative endorsement deals with brands such as Nike, Gatorade, and Rolex. As of 2023, Tiger Woods’ net worth is estimated to be $1.1 billion.

#15. LeBron James

Photo: @kingjames/Instagram

#2540
Net worth: $1 B
Industry: Sports
Profile: LeBron James acquired his wealth primarily through his successful basketball career and various business ventures. James is also a savvy entrepreneur, investing in various companies and startups, including the pizza chain Blaze Pizza, which has since become a billion-dollar franchise. He also has endorsement deals with major brands such as Nike, Coca-Cola, and Beats by Dre. In addition, James has his own media company, SpringHill Entertainment, which produces films, TV shows, and documentaries. As of 2023, LeBron James’ net worth is estimated to be $1 billion, making him one of the richest athletes in the world.

#16. Tyler Perry

Photo: @tylerperry/Instagram

#2540
Net worth: $1 B
Industry: Media and Entertainment
Profile: Tyler Perry acquired his wealth primarily through his work as a writer, actor, producer, and director in the entertainment industry. The American has also made wise business decisions, such as owning his own production company and studio, which have helped to increase his wealth. As of 2023, Tyler Perry’s net worth is estimated to be $1 billion, making him one of the richest people in the entertainment industry.

Check out the full list here.


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