Black Billionaires

The World’s Black Billionaires

Mar. 29 2011 - 1:04 pm | 3,811 views | 1 recommendation | 2 comments
By MFONOBONG NSEHE

The world needs more black billionaires. Out of 1,210 billionaires, only 6 of them are people of color. These are the lucky, privileged few:

Aliko Dangote

Country: Nigeria

Source: sugar, flour, cement

Net worth: $13.8 billion

Africa’s richest man is looking to list his biggest asset, Dangote Cement on the London Stock Exchange later this year. It’s already listed on the Nigerian stock exchange. He started trading commodities at age 21 with loan from uncle, fabled millionaire tycoon Usman Dantata. Rapidly grew business into conglomerate with interests in sugar, flour and cement. Embracing philanthropy: Recently donated $18 million to a Nigerian government program that loans start-up capital to small business owners.

Mohammed Al-Amoudi

Country: Saudi Arabia

Source: oil

Net worth: $12.3 billion

Saudi billionaire remains true to his Ethiopian roots. (His father is Saudi and his mother is Ethiopian.) His massive investments in the former war-torn country include a gold mine, a 5-star hotel and a massive farm where he grows rice, corn and other staples for export to Saudi Arabia. Started investing in Sweden in the 1970s. Major assets include oil companies Svenska Petroleum Exploration, which produces crude oil in Africa, and refinery operator Preem.

Patrice Motsepe

Country: South Africa

Source: mining

Net worth: $3.3 billion

Born in Soweto, the South African mining magnate trained as a lawyer, became first black partner at law firm, Bowman Gilfillan. Set out to start own business, buying up low-producing gold mine shafts and turning them profitable. Went on to build mining giant African Rainbow Minerals (ARM) which mines everything from platinum and gold to nickel, iron, coal and manganese. Also owns a 5% stake in Sanlam, a publicly listed financial services firm and Mamelodi Sundowns, a South-African soccer team.

Oprah Winfrey

Country: USA

Source: Television

Net Worth: $2.7 billion

The world’s most powerful celebrity is also its richest black woman. Queen of all media partnered with Discovery Communications to form Lifestyle-themed Oprah Winfrey Network. Her Harpo Production spawned the careers of Dr. Phi, Ray Rachael and Dr. Oz.

Mike Adenuga

Country: Nigeria

Source: oil, banking, telecoms

Net worth: $2 Billion

Reclusive tycoon got big break hobnobbing with former Nigerian military leaders. Worth it: Cornered juicy contracts to build military barracks; secured oil mining license. Holdings now include a bank, an oil exploration and marketing firm, real estate and his most prized asset: Globacom, a West African telecoms outfit. Reportedly spent over $2 million on a wedding ceremony for one of his daughters in April 2010.

Mo Ibrahim

Country: United Kingdom

Source: telecoms

Net Worth: $1.8 billion

Sudanese-born telecoms magnate founded Celtel, a mobile phone company that serves 23 countries in Africa and the Middle East. Sold it in 2005 for $3.4 billion; pocketed $1.4 billion. Founded Satya Capital, a $150 million private equity firm committed solely to investing in African companies. His Mo Ibrahim African Foundation has not awarded its $5 million African leadership prize for the past two years.

http://blogs.forbes.com/mfonobongnsehe/2011/03/29/the-black-billionaires/

 

Aliko Dangote

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Mike Adenuga

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Does that Saudi even consider himself Black?????

LOL

 

What about Bob Johnson. I believe he's a billionaire too.

 

Only he had to sell BET to Viacom in order to get there. smh

 

I think he does, supposedly contributes to blk cause here in the states. He is from Ethiopia with Yemeni mother.

 

Yeah classic sell out. We really can't have shit. I seriously don't know why we can't have a channel like the Hispanics have without messing it up. Telemundo news is amazing they don't leave shit out.

 

Good point, he doesn't make a steady bill income...and what has he done lately of course...you cano only ride the coat tails of your own achievements for so long.

 

It didn't take long for the complaints to start coming in....



Thanks for the post Naija. Good read!

Rep added!

 

complaints or observations?

 

I'll be more specific and say ... positive thread potentially turning into negative thread...

 

Ya know? black people=crab mentality we always wanna be negative why do black people think rich black people should do any thing for their neighbourhood or their race. What has he done recently / he doesn't need to do shit he made his money himself and he can choose to keep it to himself

 

He use to be but not anymore...

The nation’s first African-American billionaire, Robert Johnson, is enduring a cash crush so severe, reports Peter Lauria, that he had to hock his NBA franchise to Michael Jordan for a song.

When the nation’s first African-American billionaire, Robert Johnson, bought the expansion Charlotte Bobcats NBA team in 2002, his highest-profile move was hiring the most famous athlete in the world, Michael Jordan, to run the team. In a twist thick with irony, the employee has now become the savior: Two weeks ago, Jordan bought the team for pennies on the dollar.

The sale underscores Johnson’s dire financial situation. Four sources with firsthand knowledge tell The Daily Beast that the 63-year-old founder of BET desperately needs cash.

Where Did His Money Go?

 

Wow that's just fucking sad. I hope its greatly over stated because how does one lose a billion dollars. It seems impossible,

 

Those platimum homies are very few in this earth. Had there is more Black enpowerment there would be more like the Black owners of companies on the top five of Black Enterprize magazine.

 

What can we as black men do to become billionaires?

 

Invest in (securities/commodities) (and/or) (start/create) your own (business/product).

 

Becoming a member of this forum is a start.

 

We should start an investment thread. There's a bunch of us who went to school for things like economics finance and accounting.

I actually moved some of my money out of Sirius stock into this company that has the market cornered on bed sore medications. Really interesting stuff.

How do you feel about the current stock bubble?