Meet the 13 Black Billionaires in America
Despite facing systemic challenges and barriers to wealth creation, Black entrepreneurs continue to break new ground, forging paths to success in various industries. Their resilience, innovation, and unwavering determination have fueled a growing network of Black-owned businesses, which, according to 2021 Census data, collectively generate an impressive $206 billion in annual revenue while providing 3.56 million jobs across the United States.
Among these success stories, a select group of 13 Black billionaires has reached the pinnacle of financial achievement, demonstrating that wealth-building is possible despite historic disparities. These individuals have made their mark in media, sports, technology, finance, and entertainment, influencing industries and inspiring future generations of entrepreneurs and leaders.
As we celebrate Black History Month, it is essential to recognize the extraordinary journeys of these billionaires. Their stories are not just tales of financial success but also powerful testaments to perseverance, strategic vision, and a commitment to creating opportunities for others. Their impact extends beyond their personal wealth, as many are using their resources to invest in under-served communities, champion social justice causes, and empower the next generation of Black leaders.
From groundbreaking business ventures to philanthropic efforts that uplift marginalized communities, the legacies of these Black billionaires continue to reshape the narrative of economic empowerment. Their achievements serve as a source of inspiration and a reminder that, despite obstacles, the pursuit of excellence and financial independence remains within reach.
1. David Steward
With an estimated net worth of $11.4 billion, David Steward is the wealthiest Black American. He co-founded World Wide Technology (WWT) in 1990, growing it into a leading IT solutions provider with annual revenues exceeding $20 billion.
2. Robert F. Smith
The founder of Vista Equity Partners, Robert F. Smith manages over $100 billion in assets, making his firm the largest Black-owned private equity company in the U.S. With a net worth of $10.8 billion, he is also a major philanthropist, famously paying off the student debt of Morehouse College’s 2019 graduating class.
3. Michael Jordan
Basketball legend Michael Jordan has turned his sports dominance into business success. With a net worth of $3.5 billion, his fortune comes from lucrative endorsements, the sale of his majority stake in the Charlotte Hornets, and investments in brands like Cincoro Tequila and DraftKings.
4. Oprah Winfrey
A media empire built from The Oprah Winfrey Show has made Oprah Winfrey one of the wealthiest and most influential women in the world. Worth $3 billion, her portfolio includes television, film production, and strategic investments in brands like WeightWatchers and Apple.
5. Jay-Z
The first hip-hop billionaire, Jay-Z has built a $2.5 billion empire through music, business ventures, and investments. His portfolio includes Armand de Brignac Champagne, Roc Nation, and shares in companies like Uber and Block (formerly Square).
6. Adebayo Ogunlesi
The chairman and CEO of Global Infrastructure Partners (GIP), Adebayo Ogunlesi made headlines when BlackRock acquired GIP for $12.5 billion. His net worth now stands at $1.7 billion, built through strategic investments in airports and infrastructure projects worldwide.
7. Earle “Magic” Johnson
NBA Hall of Famer Magic Johnson is worth $1.6 billion, thanks to investments in sports teams, real estate, and businesses serving Black communities. His stake in EquiTrust Life Insurance has been his most lucrative investment to date.
8. Tyler Perry
A Hollywood powerhouse, Tyler Perry became a billionaire in 2020 by owning 100% of his creative content. His Atlanta-based Tyler Perry Studios is one of the largest Black-owned production companies in the world, pushing his net worth to $1 billion.
9. Rihanna
Music icon turned beauty mogul, Rihanna’s $1.4 billion fortune comes primarily from Fenty Beauty, her cosmetics company co-owned with luxury giant LVMH. She also owns a stake in Savage x Fenty, her lingerie brand.
10. Tope Awotona
The founder of Calendly, Tope Awotona turned frustration with scheduling software into a billion-dollar business. Now worth $1.4 billion, he built the company from scratch, initially funding it with his 401(k) savings.
11. Tiger Woods
Golf’s biggest icon, Tiger Woods has amassed a fortune of $1.3 billion through tournament winnings and endorsement deals. His long-standing partnership with Nike and various business ventures—including a golf course design company—keep his wealth growing.
12. LeBron James
With a net worth of $1.2 billion, LeBron James became the first active NBA player to achieve billionaire status. His business ventures include SpringHill Company (a media production firm), stakes in Blaze Pizza, and sports franchise ownership.
13. Alex Karp
As the CEO and co-founder of Palantir Technologies, Alex Karp has built a $7 billion fortune. His data analytics company works with U.S. intelligence agencies, and Palantir’s stock has surged, making him one of the wealthiest Black billionaires.
These 13 Black billionaires exemplify innovation, resilience, and strategic wealth-building. Their success across industries underscores the growing influence of Black wealth in America.
The Litmus Test
The Decentralized Ecosystems Intranet (DEI) Embargo serves as a pivotal test of unity among African Americans and people of color in the face of ongoing efforts to entrench economic and social disparities. As policies dismantle diversity, equity, and inclusion initiatives, a stark divide emerges—one that threatens to relegate marginalized communities to a permanent underclass while reinforcing an unprecedented concentration of wealth at the top, reminiscent of ancient empires.
Should the Decentralized Ecosystems Intranet gain momentum, it could lay the groundwork for broader movements aimed at economic equity. By strategically leveraging economic pressure, this initiative aspires to create opportunities for wealth transfer, enabling historically oppressed communities to establish and sustain generational legacies—an overdue shift toward true economic empowerment.