Black people have come a long way since the dark days of slavery and colonialism. You can find them across various industries and business verticals, leading the line and setting the pace for others to follow. It is no surprise, then, that some of them are on the list of the wealthiest people in the world.
These individuals have broken through glass ceilings and braved the odds to achieve being a billionaire. It has taken several years of learning, grit, and discipline to get to this point.
Every year, more black billionaires are joining the club. Who knows? Your name could be on this list soon, but it won’t happen overnight. You must prepare and commit to the long haul. With a stroke of luck and aligning with the universe, you may be a billionaire someday.
Okay, enough said! Let’s check out the current black billionaires and their net worth.
1. Aliko Dangote
Aliko Dangote is the richest black billionaire, with a net worth of $14 billion (11.5 in 2021). He is the founder of Dangote cement company, where he controls approximately 88% of the shares.
Dangote has also amassed wealth from other investments in salt and sugar manufacturing companies.
With the ongoing construction of the Dangote refinery at the Lekki Free Zone near Lagos, the business mogul is expected to increase his net worth in the coming year. The refinery is set to produce 650,000 barrels of oil per day.
Like some of the wealthiest people, Dangote has been married and divorced twice.
2. Mike Adenuga
Following closely is another Nigerian billionaire, Mike Adenuga, who is worth $7.3 billion (6.1 in 2021). Mike is the founder of Globacom, the second largest telecom company in Nigeria.
He is also a shareholder in other companies, including Equitorial Trust Bank, and has interests in oil (Conoil).
Mike Adenuga didn’t have the best start to life, having worked as a taxi driver. He eventually went to school and bagged an MBA after his degree program. His introduction to millionaire status was through his lace and soft drinks business.
3. Robert Smith
The 1962 Denver-born Robert Smith is a black billionaire with an estimated $6.7 billion (6 in 2021). After completing his education in two different fields, Chemical Engineering for his degree and Business Administration for his master’s, he worked for several businesses.
Robert later decided, like most rich entrepreneurs, to start his business.
Fast forward to 2022, and he is on the list of the richest black people, amassing his wealth as chairman and CEO of Vista Equity Partners, which has investment relationships with software companies.
4. Abdul Samad Rabiu
Here’s another black billionaire of Nigerian descent with a net worth of $6.9 billion (4.9 in 2021). Abdul is the founder of BAU, a Nigerian conglomerate whose interests have diversified since it began operations in 1988.
They started with commodity trading, expanded to construction materials, and began constructing rolling mills. Other interests include real estate, infrastructure, and cement production.
Besides profiting from the massive BAU business, Abdul is also the owner of Nigeria Oil Mills – the largest oil processing company in Nigeria.
5. David Steward
David Steward comes in third on the list of black billionaires with $5.8 billion (3.7 in 2021). Despite having faced biting poverty and racial segregation at a young age, Steward grew up to become a notable person in society.
He has worked as a salesman (like his father), a production manager, and an accountant. In 1990, he started World Wide Technology, an IT company that has seen continuous success.
