Top 10 Black Billionaires In The World – Forbes 2018
Out of the 2,043 people that made it to the 2017 FORBES list of the World’s Billionaires, only 10 of them were black.
Surprisingly, Nigeria's Dangote still retains his title 'Richest black man on earth' despite losing about 35% of his wealth in 2016.
Two of Nigeria's moguls weren't so lucky though as they fell off the ranks of the richest black people on earth, and they are oil tycoon Femi Otedola -as a result of the plunging share price of his oil company, Forte Oil- and cement mogul Abdulsamad Rabiu -brought about by the devaluation of the Nigerian currency, the Naira.
Angolan investor Isabel dos Santos, American Oprah Winfrey and Nigerian oil tycoon Folorunsho Alakija, are still the only black female billionaires on the FORBES billionaires list.
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TOP 10 BLACK BILLIONAIRES In THE WORLD - FORBES 2018
Below are Top 10 Black Billionaires In The World - Forbes 2017
1. Aliko Dangote, $12.2 billion
Source of wealth: Sugar, Cement, Flour
According to 2017 FORBES list of the World’s Billionaires, Aliko Dangote is not only Africa’s richest man; he’s also the richest black person in the world.
He built his fortune trading in cement, sugar and flour but subsequently ventured into manufacturing these commodities.
His Dangote Cement is the largest cement producer in Africa with operations.
2. Mohammed Al-Amoudi, $8.4billion
Nationality: Saudi Arabian
Source of wealth: Oil
The second richest black man in the world Mohammed Al-Amoudi is also one of the richest men in the Arab world, but he has deep Ethiopian roots.
In Ethiopia, his Midroc Ethiopia Technology Investment Group has investments in gold mining, leather production, agro processing, transport and construction. Outside Ethiopia, he owns oil refineries in Morocco and Sweden and oil fields off West Africa.
3. Mike Adenuga , $6.1 billion
Source of wealth: Oil, tele-communication
Adenuga built his fortune in oil and mobile telecoms. His Conoil Producing was the first indigenous Nigerian oil exploration company to strike oil in commercial quantities in Nigeria. His mobile telecoms company, Globacom, is the second largest operator in Nigeria.
4. Isabel Dos Santos , $3.1 billion
Source of wealth: Investments
The oldest daughter of Angola’s outgoing president and Africa’s richest woman owns a significant stake in Unitel, Angola's largest mobile phone network, and a stake in Banco BIC. Outside Angola, she owns nearly 6% of oil and gas firm Galp Energia (alongside Portuguese billionaire Americo Amorim), and nearly 19% of Banco BPI, the country's fourth-largest bank.
5. Oprah Winfrey , $3 billion
Source of wealth: television
Oprah, once the queen of daytime TV, is still the richest African-American person in the world.
6. Robert Smith, $2.5 billion
Source of wealth: entrepreneur
Robert Smith is the founder of private equity shop, Vista Equity Partners, an Austin, Texas firm that is best known for fixing up enterprise software outfits.
7. Patrice Motsepe , $1.81 billion
Nationality: South African
Source of wealth: Mining
South Africa's first black billionaire made his fortune in mining through his African Rainbow Minerals.He is also the president and owner of the Mamelodi Sundowns Football Club.
8. Folorunsho Alakija, $1.61 billion
Source of wealth: Oil
Nigeria’s only female billionaire is the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil block on the Agbami deep-water oilfield in Nigeria..
9. Michael Jordan , $1.31 billion
Source of wealth: Basketball
Basketball's greatest player is the majority shareholder of Charlotte Bobcats and enjoys lucrative deals with the likes of Gatorade, Hanes and Upper Deck. His biggest pile comes from Brand Jordan, a $1 billion (sales) sportswear partnership with Nike.
10. Mohammed Ibrahim, $1.14 billion
Source of wealth: mobile Telecoms, Investments
Mo Ibrahim made his initial fortune as the founder of Celtel, an African mobile phone company, which he sold to MTC of Kuwait for $3.4 billion in 2005. He now reinvests through Satya Capital, a U.K-based, African focused private equity firm.