Do you want to know who the richest black men in the world are? If so, continue reading!
The list of the top richest men can vary from year to year, based on their current net worth and financial standings. This piece will highlight the top 10 richest black men as of 2024, along with intriguing details about each of them.
Top 10 Richest Black Man in the World
- Aliko Dangote
- Robert F Smith
- David Steward
- Abdul Samad Rabiu
- Mike Adenuga
- Patrick Motsepe
- Micheal Jordan
- Strive Masiyiwa
- Mohammed Dewji
- Jay Z
Richest Black Man in the World 2024
Black billionaires span across a diverse range of industries and business sectors. From entrepreneurs to inherited wealth- these men have topped our 2024 list.
Discover who the wealthiest individuals are and the paths that led them to their success below.
Aliko Dangote
Aliko Dangote, the richest man in Nigeria and Africa, is renowned for his expansive business conglomerate, the Dangote Group, which spans across sectors such as cement manufacturing, sugar production, salt processing, and more. According to Forbes magazine, he ranks as the 100th wealthiest person globally.
Dangote’s wealth is predominantly derived from his Dangote Cement Company, although his other ventures also thrive. He was raised in an affluent environment, with his grandfather, Dantata, once holding the title of the richest man in Kano State.
Today, Dangote is recognized as the richest black person globally and is esteemed as one of Africa’s most prominent business figures and philanthropists.
Net Worth: $13.5 billion
Origin of Wealth: Cement and Sugar Industry
Country: Nigeria
Robert F Smith
As of 2024, Robert F. Smith’s net worth is approximated at $9.2 billion. In 2023, he held the position of the 78th wealthiest individual in the United States.
He is the founder, CEO and chair of Vista Equity Partners, an investment company that exclusively invests in software, data, and technology-enabled organizations.
Vista Equity Partners controls more than $50 billion in assets and has delivered an average annual return north of 30% since its inception.
Smith’s strategic focus on enterprise software has enabled Vista to build a diverse portfolio comprising over 70 companies, employing 75,000 individuals, serving 800,000 customers, and catering to over 200 million users across 175 nations.
Net Worth: $9.2 billion
Origin of Wealth: Private Investment
Country: America
David Steward
At 72 years old, David Steward has accumulated a fortune of $7.6 billion, primarily through his endeavors in the IT industry. He established his company, World Wide Technology (WWT) in 1990.
WWT is a prominent technology solutions provider that started as a small technology reseller and has since grown into one of the largest privately-held companies in the United States.
In addition to his role at WWT, Steward is actively involved in philanthropy. He has supported various educational initiatives, including scholarships for underprivileged students and programs aimed at promoting STEM (science, technology, engineering, and mathematics) education.
Net Worth: $7.6 Billion
Origin of Wealth: Technology
Country: America
Abdul Samad Rabiu
Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate engaged in cement production, sugar refining, and real estate.
He began his career at the Nigerian Industrial Development Bank (NIDB) in Kano, a business owned by his family, where he worked for several years before establishing BUA Group in 1988. Under his stewardship, BUA Group has expanded to become one of Africa’s largest conglomerates, operating across Nigeria, Ghana, and other African nations.
BUA Group is renowned for its significant contributions to Nigeria’s economy, particularly in the cement and sugar sectors. The company has also ventured into renewable energy and infrastructure projects, including the construction of one of Nigeria’s largest oil refineries, the BUA Refinery in Rivers State.
Net Worth: $7.6 Billion
Origin of Wealth: Cement and Sugar Business, Inheritance
Country: Nigeria
Mike Adenuga
Mike Adenuga is another Nigerian billionaire with substantial investments in Lagos. He is the owner of Globacom, one of Nigeria’s leading telecommunications companies, and Conoil, an oil exploration and production company.
Ranked among the wealthiest individuals on the African continent, Adenuga holds the title of the richest person in Lagos and is listed as the third richest man in Nigeria by Forbes. His wealth stems from his ventures in telecommunications and oil production within Nigeria.
Globacom, his telecommunications company, is the third largest network operator in the country, boasting over 50 million subscribers. Additionally, his petroleum company, Conoil, ranks among the largest petroleum exploration and production entities in Nigeria.
Net Worth: $5.6 Billion
Origin of Wealth: Telecommunications and Oil Business
Country: Nigeria
Patrick Motsepe
Patrick Motsepe is a South African mining magnate. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum.
He also sits on several company boards including being the non-executive chairman of Harmony Gold, the 12th largest gold mining company in the world, and is the deputy chairman of Sanlam.
Net Worth: $3.1 Billion
Origin of Wealth: Mining
Country: South Africa
Micheal Jordan
Michael Jordan, the celebrated basketball icon who seamlessly transitioned from the court to the business world, boasts a net worth of $3 billion following the sale of majority of his stake in the Charlotte Hornets.
Beyond his legendary NBA career, Jordan has proven himself to be a savvy investor. Since retiring, he has ventured into investments and acted as a special advisor to the sports betting startup DraftKings. Additionally, he became a co-owner of a NASCAR team in 2002.
Regarded as the greatest player in NBA history, Jordan not only holds the title of the NBA’s greatest player but also possesses one of the most impressive bank accounts in NBA history.
Net Worth: $3 Billion
Origin of Wealth: Sports
Country: America
Strive Masiyiwa
Strive Masiyiwa is a London-based Zimbabwean businessman who is the founder of international technology groups Econet Global and Cassava Technologies.
As of 2023, his net worth is estimated to be approximately $1.9 million.
Masiyiwa currently serves on the boards of Unilever plc, Netflix, Bill & Melinda Gates Foundation, and the National Geographic Society, and on several Global Advisory boards including Bank of America, US Council on Foreign Relations and the Bloomberg New Economy Forum.
Net Worth: $1.9 Billion
Origin of Wealth: Telecommunications
Country: Zimbabwe
Mohammed Dewji
Mohammed Dewji, a prominent figure in both politics and business, serves as the CEO of METL, a Tanzanian conglomerate established by his father in the 1970s.
METL Group operates across various sectors, including real estate, agriculture, finance, insurance, manufacturing, food and beverages, transport and logistics, and mobile telephony. During his tenure as the Chief Financial Officer of METL Group, Mohammed Dewji played a pivotal role in elevating the company’s profits from $30 million to $1.5 billion.
In addition to his business acumen, Mohammed Dewji is recognized for his philanthropic endeavors. He has committed to the Giving Pledge, a commitment wherein the world’s wealthiest individuals pledge to donate at least half of their wealth to charitable causes.
Net Worth: $1.5 Billion
Origin of Wealth: Business
Country: Tanzania
Jay Z
Successful rapper and entrepreneur Jay-Z has amassed an impressive net worth of $2.5 billion as of 2024. With a career spanning over three decades, he has released numerous multi-platinum albums and earned 23 Grammy Awards. In addition to his musical success, Jay-Z has ventured into various industries, making significant investments along the way.
One of his notable ventures is Roc Nation, an entertainment company representing artists and athletes, as well as producing music. He also co-owns the streaming service Tidal, which he acquired in 2015. Jay-Z’s foray into fashion includes his clothing line Rocawear, which he reportedly sold for $204 million.
His marriage to Beyoncé, one of the world’s top-selling music artists, further enhances their financial influence as a couple. Together, they engage in philanthropic endeavors, focusing on social justice, education, and economic empowerment initiatives.
Net Worth: $2.5 Billion
Origin of Wealth: Music, Business and Investments
Country: America
Conclusion
The top 10 world’s richest black men on this list inspire you to reach for your goals. Their stories should remind you that wealth, influence, and impact know no boundaries, and that with hard work and determination, anything is possible.
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