Dangote tops Forbes 2025 Black Billionaires List at $23.9bn

Forbes has released its much-anticipated 2025 list of the world’s Black billionaires, showcasing the immense wealth and growing influence of business leaders, investors, athletes, and entertainers across the globe.

Topping the list is Nigerian industrialist Aliko Dangote, whose net worth has soared to $23.9 billion, nearly doubling that of his closest peer. Dangote, widely known as Africa’s richest man for over a decade, owes his fortune largely to his cement, sugar, and flour businesses, alongside ambitious investments in oil refining. His dominance underscores Africa’s position as a powerhouse in wealth creation.

In second place is American tech executive David Steward with $11.4 billion, followed closely by private equity mogul Robert F. Smith, whose fortune stands at $10.8 billion. Both represent the growing strength of African Americans in technology and finance.

Another striking entry is Alexander Karp at $8.4 billion, the Palantir co-founder who continues to leverage data and AI in global security and enterprise systems.

Nigeria continues to shine on the list, with Mike Adenuga at $6.8 billion and Abdulsamad Rabiu at $5.1 billion, both driven by investments in telecommunications, cement, and consumer goods. Nigeria now accounts for four of the top ten Black billionaires worldwide, cementing its reputation as Africa’s economic hub.

The entertainment and sports industries also make a powerful showing. Basketball legend Michael Jordan is ranked at $3.5 billion, a fortune bolstered by his Nike Air Jordan brand and team ownership stakes. South African mining magnate Patrice Motsepe and media icon Oprah Winfrey both follow with $3 billion each.

Rapper and businessman Jay-Z rounds out the top ten with $2.5 billion, a figure Forbes notes has been propelled by his diverse holdings in music rights, art, spirits, and technology investments.

Other notable names include:

■ Adebayo Ogunlesi ($2.2 billion), the Nigerian financier who runs a global infrastructure fund.

■ Magic Johnson and Femi Otedola, tied at $1.5 billion, reflecting success in sports investments and energy, respectively.

■ A cluster of billionaires worth $1.4 billion, including Tope Awotona (founder of Calendly), filmmaker Tyler Perry, golfer Tiger Woods, and music star Rihanna, whose Fenty empire continues to thrive.

The list also highlights a new wave of influential figures across regions. British-Sudanese telecoms tycoon Mohammed Ibrahim and NBA icon LeBron James both sit at $1.3 billion, while Zimbabwean-born entrepreneur Strive Masiyiwa remains Africa’s telecoms giant at $1.2 billion.

■ Canada’s Michael Lee-Chin and biotech entrepreneur Herriot Tabuteau each hold $1.1 billion, while American businesswoman Sheila Johnson closes the list at $1 billion, cementing her legacy as the first Black woman billionaire.

This year’s list paints a picture of diversification. Beyond traditional industries such as oil, cement, and telecoms, billionaires are increasingly emerging from tech, finance, sports, and entertainment. Analysts say this reflects not only the resilience of Black wealth globally but also a generational shift towards innovation-driven fortunes.

Despite these achievements, disparities remain. Africa, home to over 1.4 billion people, still accounts for only a handful of billionaires compared to other regions. Experts argue that structural challenges such as limited capital markets, political instability, and inadequate infrastructure continue to constrain wealth creation on the continent.

Still, Forbes’ 2025 Black Billionaires List serves as both a celebration and a roadmap. It underscores the dynamism of individuals breaking barriers in diverse sectors while highlighting the urgent need for policies that can enable broader wealth creation across the global Black community.

Credit: Forbes