The richest black man in the world is a Nigerian business magnate. This top 10 countdown of the richest black men, is dominated by elite African tycoons.
Just a few thousand years back, black people were actually the most wealthiest individuals on earth…
The wealthiest of whom, was Mansa Musa, a great African king who went by such titles as: The Lion of Mali and The Lord of the Gold Mines.
Mansa Musa is the richest man to have ever existed, many scholars regard him as being the first and only trillionaire in the history of mankind! But, you’ll find people who’ll try to downplay his incredible wealth, by stating his fortune was more likely around US$400 billion…
There were others just like him from different parts of the world, great black men who’d immeasurable wealth and power.
Today…there are 1,810 billionaires in the world and only 15 of them are black…which means less than 0.9% of them are black…LESS THAN (0.9%)…I’ll let that sink in!
So, if black people were once the richest on earth, what happened to all their wealth and resources…
We all know the answer to that…its the only thing American history books can tell us about black people…SLAVERY.
When black people were being enslaved, immense wealth and resources were forcefully taken from them, most of their glorious nations were burned down to the ground…
Some black nations left behind colossal monuments that still stand to this everyday, that’s because their en-slavers found them virtually impossible to destroy…
So instead, they simply took credit for founding these amazing civilizations and tried to wipe away all traces of the real fore-founders…that’s why you find so many statues around the world missing a nose or the entire head.
Today, racism is more covert…it’s institutional and systematic – though black people don’t have chains on their wrists and ankles anymore…they’re economically enslaved – stripped of land, adequate resources and proper education – making it difficult for them to escape the clutches of poverty.
Considering all the impossible obstacles that were intentionally placed in their paths…it’s absolutely amazing that these black men managed to become billionaires in this white man’s world!
Now, let’s get started with our countdown and find out who’s the richest black man in the world, and how he accumulated his wealth!
Mo Ibrahim — (net worth) — US$1.1 Billion
Mo Ibrahim is a Sudanese businessman of Nubian ancestry, he’s the 10th richest black man in the world and has an estimated net worth of US$1.1 billion.
He has since acquired British citizenship, but resides in Monte Carlo, Monaco.
He’s the founder of Celtel, a telecommunications company which he sold for US$3.4 billion, in 2005. At the time of its sale, Celtel had over 24 million mobile-phone subscribers in 14 African countries!
Mo Ibrahim is well known for his philanthropic work, his foundation, the Mo Ibrahim Foundation, awards good governing African presidents. The foundation also offers postgraduate scholarships to African students enrolled at British universities.
He earned his bachelor’s degree in electrical engineering from the University of Alexandria, and his masters from the University of Bradford. He completed his PhD in Mobile Communications at the University of Birmingham.
Mo Ibrahim is also one of those billionaires who joined The Giving Pledge and pledged to give away 50% of his fortune to charitable causes.
Abdul Samad Rabiu — (net worth) — US$1.6 Billion
Abdul Samad Rabiu is the chairman of the Nigerian Bank of Industry. He’s the 9th richest black man in the world and has an estimated fortune of US$1.6 billion.
He’s the founder and chairman of the BUA Group. The BUA Group is a Nigerian industrial conglomerate that primarily focuses on agriculture, infrastructure and manufacturing.
Abdul had initially founded the company, in 1988, for the sole purpose of commodity trading, but expanded in 1990 to producing steel billets, importing iron ore and constructing rolling mills.
A few years later, BUA acquired the largest edible oil processing company in Nigeria, Nigerian Oil Mills Limited. In 2008, it commissioned the 2nd largest sugar refinery in sub-Saharan Africa.
Abdul Samad Rabiu is a charitable Muslim man, he constructed a 7,000 sq.m pediatric ward, at the Aminu Kano Teaching Hospital in his hometown. He also constructed the Center for Islamic Studies at Bayero University in Kano.
Abdul attended Capital University in Columbus, Ohio.
Michael Jordan — (net worth) — US$1.9 Billion
Michael Jordan needs no introduction, he’s the greatest basketball player of all time and has an estimated net worth of US$1.9 Billion – making him the 8th richest black man in the world!
He’s the principal owner of the Charlotte Hornets (a NBA League team). He’s also part-owner of a Major League Baseball team – the Miami Marlins.
MJ is well-known for his product endorsements, his Jordan brand has generated over $3 billion US dollars for Nike…they claim its only US$1 billion, but we all know its much more than that!
Mr. Jordan has interests in the restaurant industry, he owns a string of restaurants, one of which, is a steakhouse located in New York City’s Grand Central Terminal. He also owns a Nissan dealership in Durham, North Carolina.
In 2014, Michael Jordan became the 1st ever NBA player to become a billionaire. MJ is also the richest black man in sports.
Patrice Motsepe — (net worth) — US$2.3 Billion
Patrice Motsepe is the 3rd wealthiest person in South Africa and the 7th richest black man in the world. He has an estimated net worth of US$2.3 billion.
He’s a South African mining businessman known for founding – African Rainbow Minerals – a mining company, which has primary interests in gold and platinum, as well as in ferrous and base metals. He’s also the executive chairman of the company.
He’s a lawyer by profession, he specializes in mining and business law. He obtained his law degree from the University of Witwatersrand.
He joined The Giving Pledge in 2013 and sits on a number of influential boards:
- Deputy Chairman of Sanlam
- Non-executive Director of Absa Group
- Chairman of the Black Business Council
- Non-executive Chairman of Harmony Gold – (the 12th largest gold mining company in the world)
- Founding member and president of Business Unity SA (BUSA)
- Chairman of Teal Exploration and Mining Incorporated
- Chairman of Ubuntu-Botho Investments
- Former president of South Africa’s Chamber of Commerce and Industry
Strive Masiyiwa — (net worth) — US$2.4 Billion
Strive Masiyiwa is a London-based Zimbabwean entrepreneur and he’s the 6th richest black man in the world. He has an estimated net worth of US$2.4 billion.
He’s the founder and executive chairman of Econet Wireless – an international telecommunications, media and technology group.
He obtained his electrical engineering degree from the University of Wales and sits on two United Nations Advisory Panels.
Strive is also a member of The Giving Pledge.
He has controlling interests in Seldon Technologies, a Vermont-based company that produces nano-fiber carbon products. He also invested in Africa’s largest satellite and fiber optic company, Liquid Telecom Group, it spans over 14 countries.
Strive Masiyiwa is the most generous African philanthropist…his family foundation has provided over 100,000 Africans with scholarships over the past 20 years! He also supports and educates more than 40,000 orphans in Africa…God bless his heart!
He devotes his spare time to mentoring young African entrepreneurs on Facebook. Facebook has identified his platform as having the most engaged following of any business leader in the world.
David Steward — (net worth) — US$3 Billion
David Steward was born and raised in Chicago.
Chicago seems to be churning out black billionaires like butter…Oprah Winfrey, Michael Jordan and Kanye West might just be the next billionaire to come out of Chicago – he’s featured on our list of the top 10 richest rappers in the world.
David Steward had humble beginnings, his father was a mechanic and his mother was a housewife. He grew up in poverty and faced discrimination on a daily basis…
But today, he’s the 5th richest black man in the world and has an estimated net worth of US$3 billion.
David Steward is the chairman and founder of World Wide Technology, a systems integrator that’s focused on the implementation of enterprise conversion services and telecommunication networks.
In 2018, World Wide Technology’s annual revenue was estimated to be over US$11 billion.
He obtained his business degree from Central Missouri State University in 1973. He also wrote a book called, Doing Business by the Good Book (with Robert L. Shook).
Robert Smith — (net worth) — US$5 Billion
Robert Smith is the wealthiest black person in America and the 5th richest black man in the world. He has an estimated net worth of US$5 billion.
He’s the sole founder, chairman and CEO of Vista Equity Partners, a private equity and venture capital firm. He’s a chemical engineer and investment banker by profession. He’d worked for Goldman Sachs.
His parents were both teachers with Doctorate degrees and he grew up in a middle-class neighborhood in Denver. He obtained his MBA from Columbia Business School and he paid off the entire student loan debt of the 2019 graduating class of Morehouse College – a total of 396 students.
As of 2019, Vista Equity Partners has over US$46 billion in cumulative capital commitments, owns over 50 software companies and has 60,000 employees worldwide.
Robert Smith is married to Hope Dworaczyk, a former Playboy playmate, and they’ve two children together.
Mohammed Al-Amoudi — (net worth) — US$8.4 Billion
Mohammed Al-Amoudi is an Ethiopian businessman who emigrated to Saudi Arabia and acquired Saudi citizenship. He’s the wealthiest person in Ethiopia and the 3rd richest black man in the world.
He made his fortune in construction and real estate, before expanding into the oil industry, and buying oil refineries in Sweden and Morocco.
He owns the Addis Ababa Sheraton hotel, as well as several gold mines and oil companies based in Ethiopia. He’s the largest individual investor in Ethiopia.
His plethora of international businesses are largely under the wing of two conglomerate companies he owns, Corral Petroleum Holdings and MIDROC, which employ over 70,000 people.
He has invested so extensively in Sweden, that he was honored with the Order of the Polar Star by King Carl XVI Gustaf of Sweden.
Mike Adenuga — (net worth) — US$9.1 Billion
Michael Adenuga is the 2nd wealthiest person in Nigeria and the 2nd richest black man in the world. He has an estimated net worth of US$9.1 billion.
He owns the Globacom company, Nigeria’s second-largest telecom operator and an oil exploration firm called Conoil. He also has stakes in the Equitorial Trust Bank.
He worked as a taxi driver to help fund his university education. He graduated from Northwestern Oklahoma State University and Pace University – New York, with degrees in Business Administration.
In 2012, he was made Grand Commander of the Order of the Niger, by the Nigerian government.
He holds a Yoruba tribal chieftaincy as the Otunba Apesin of the Ijebu clan.
Aliko Dangote — (net worth) — US$10.9 Billion
Aliko Dangote is the wealthiest person in Africa and the richest black man in the world. He has an estimated net worth of US$10.9 billion.
The Nigerian business magnate is the chairman and CEO of the Dangote Group, an international conglomerate that deals with food processing, cement manufacturing and freight transport.
The Dangote Group also has major investments in real estate, banking, agriculture, telecommunications, textiles, oil, and gas.
Dangote owns the 3rd largest sugar refinery in the world — it produces 800,000 tons of sugar annually!
Aliko Dangote has been married four times and his marriages all ended in divorce. He has a total of 15 children from these marriages.
And there you have it…the top 10 richest black men in the world. Maybe by 2030, 10% or more of the world’s billionaires will be black…let’s wait and see…
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Richest Black Man In The World — Highest Net Worth
Wikipedia.org > Black billionaires
Wikipedia.org > Aliko Dangote
Wikipedia.org > Mike Adenuga
Wikipedia.org > Mohammed Hussein Al Amoudi
Wikipedia.org > Robert Smith
Wikipedia.org > David Steward
Wikipedia.org > Strive Masiyiwa
Wikipedia.org > Patrice Motsepe
Wikipedia.org > Michael Jordan
Wikipedia.org > Abdul Samad Rabiu
Wikipedia.org > Mohammed Ibrahim