The African American community makes up half of the total population of the United States of America. They have become a strong working force over the years, eventually starting up their own organisations which steamrolled the market. The major industries they have excelled in are music, fashion, and entertainment.
It has been a long since Madam C.J. Walker, a philanthropist and entrepreneur, became the first self-made African American millionaire in the late 1800s. Today, many of the top millionaires and billionaires come from this community. Following is a list of top 10 richest African Americans of 2018.
Table of Page Contents
- 10. Femi Otedola (Net worth $550 Million)
- 9. Tiger Woods (Net worth $740 Million)
- 8. Sean Combs (Net worth $820 Million)
- 7. Mohammed Ibrahim (Net worth $1.1 Billion)
- 6. Abdul Samad Rabiu (Net worth $1.2 Billion)
- 5. Robert L. Johnson (Net worth $1.3 Billion)
- 4. Michael Jordan (Net worth $1.4 Billion)
- 3. Patrice Motsepe (Net worth $1.82 Billion)
- 2. Oprah Winfrey (Net worth $3 Billion)
- 1. Robert F Smith (Net worth $3.3 Billion)
10. Femi Otedola (Net worth $550 Million)
Femi Otedola is a philanthropist, an entrepreneur and the chairman of Forte Oil Plc which is an importer of fuel. His main economic sector I sin oil and fuel but also has been known to have his interests in shipping and real estate. He found his beginnings in his family’s printing press before getting into the oil game.
9. Tiger Woods (Net worth $740 Million)
This is the man who made golf cool. It is no longer just a game played wealthy Caucasians and finally, a man of color has made his mark on this game. He has been on the list of the top most highly paid athletes for quite some time. Golfers have tried and failed to maintain a career like that of Tiger Woods with 79 PGA tour wins and 40 European tour wins. He has had endorsement deals with giants like Accenture, American Express, and Nike.
8. Sean Combs (Net worth $820 Million)
Known in the rap industry as Puff Diddy or P.Diddy, Sean John Combs is an American rapper, singer, songwriter and record producer. He has also starred in films like Monster’s Ball and Muppets Most Wanted. He owns the record label Bad Boy Entertainment and has produced records for The Notorious B.I.G, Dream, and Craig Mack. Even though he had his humble beginnings in Harlem, Manhattan, New York growing up with his single mother on a teacher’s salary, he won 3 Grammys and 2 MTV video music awards. In 2016 in received an honorary degree in humanities from Howard University, from which he dropped out of after the sophomore year.
7. Mohammed Ibrahim (Net worth $1.1 Billion)
Dr. Mohammed ‘Mo’ Ibrahim is an entrepreneur and billionaire whose main focus is on telecommunication. He gained all his experience by working in various telecom companies before starting his own called Celtel which was a major service provider in African countries. He sold his company for 3.4 Billion dollars and started the Mo Ibrahim Foundation to better the governance in Africa. He has been listed the 692nd richest person in the world.
6. Abdul Samad Rabiu (Net worth $1.2 Billion)
Abdul Samad Rabiu was born into the business. His father was the foremost industrialist in Nigeria in the 1970s and 1980s. after he turned 24 he returned to Nigeria from Ohio, where he was pursuing his higher education, to take over his father’s business. He found and is the chairman of BUA group with an annual revenue of $ 2.5 billion. His philanthropic activities include the building of a pediatric ward at the Aminu Kano Teaching Hospital.
5. Robert L. Johnson (Net worth $1.3 Billion)
Born in 1946, he is an entrepreneur and a media magnate who co-founded the Black Entertainment Television channel which was sold to Viacom for 3 Billion dollars in 2001. He also founded the RLJ Companies, which is a holding company that invests in various business s sector. This versatile business giant was the first African American Billionaire and has been counted among Forbes magazines 400 ‘Richest Americans’. This majority owner of the basketball team Charlotte Hornets has been known to own the most prominent African-American Businesses in the late 20th and early 21st centuries.
4. Michael Jordan (Net worth $1.4 Billion)
This is the man who put the name of Chicago Bulls in the limelight. This retired professional basketball player is the majority owner of a basketball team. Michael Jordan has sure come a long way since he first started playing ball and has also participated in the Olympics in which he brought home 2 gold medals in 1984 and 1992. Sue to his slam dunk skills he got the nickname Air Jordan, which is now a very successful brand of footwear produced by Nike.
3. Patrice Motsepe (Net worth $1.82 Billion)
Patrice Motsepe is the founder of African Rainbow Minerals and has had his hands mainly in mineral mining. The primary minerals they mine for are gold, ferrous metals, base metals and platinum. Having accumulated all this wealth he believed in giving back to the world and hence has been a member of The Giving Pledge and has committed to giving half his earnings to charities. He learned his basic principles of business and mining from the Spaza Shop owned by his parents and very popular among the then mine workers.
2. Oprah Winfrey (Net worth $3 Billion)
Probably the most familiar name on this list, she is a major icon for the African American community. she is considered the example of how much persistence, hard work and a positive outlook on life could help you achieve. She is famously known for her talk show Oprah and for her trademark ‘ Oprah’s Favourite Things’, a segment on her shoe in which she gives her audience gifts. She is a philanthropist and entrepreneur with her interests in many industries. She has her own television channel, breakfast cereal, and a lifestyle magazine. She has earned the right to be called the ‘Queen of all Media’.
1. Robert F Smith (Net worth $3.3 Billion)
Mainly and known investment company, Robert Frederick Smith has also been known as a philanthropist. He has an unlikely mix of degrees under him for chemical engineering and business. He founded and is the chairman of Vista Equity Partners under all his achievements he was named among Forbes magazine’s 100 greatest living business minds. He joined The Giving Pledge in 2017, which means he will give away half his earnings in charitable donations.
There was a time when the idea that a person of African descent could own a simple shop or vote or run for office in the United States of America was ludicrous. It is inspiring and heartwarming to see how far this community has come fighting through oppression and being looked down at. Now that they have achieved so much, they will only grow bigger, stronger and more enriched as a community.