Money Moves News April 13, 2021 at 09:45 am

These are the seven richest African Americans right now

Abu Mubarik April 13, 2021 at 09:45 am

April 13, 2021 at 09:45 am | Money Moves, News

Kanye West. Photo: Splash News

Forbes’s annual billionaires’ list has shown that despite the coronavirus pandemic, the world’s richest doubled their wealth. According to the publication, the world’s richest persons are $5 trillion richer than they were one year ago.

Also, the list saw the addition of 660 more billionaires than a year ago, expanding Forbes’ billionaire list to 2,755. The U.S. still has more billionaires on the list than any other country in the world with 724, followed by China with 698, India with 140, Germany with 136, and Russia with 117.

The Forbes list also saw 493 newcomers, including 210 from China and Hong Kong, and 98 from the U.S. The richest on the list of newcomers is Miriam Adelson of Nevada, who is worth $38.2 billion. Forbes reports that she inherited her husband Sheldon Adelson’s casino empire following his death in January.

Another new entrant in the list is African-American film actor, producer, and entrepreneur Tyler Perry while Whitney Wolfe Herd, co-founder of Bumble dating app, is the world’s youngest self-made woman billionaire.

The billionaires altogether, according to Forbes, are worth $13.1 trillion, up from $8 trillion on the 2020 list. Also, a staggering 86% of all billionaires are richer than a year ago. Despite the record number of new billionaires, as many as 250 people fell below the billionaire status, per the list.

Below are the richest African Americans and their rank on the Forbes billionaire list.

Robert F. Smith

Robert F. Smith founded private equity firm Vista Equity Partners in 2000. The company, which has over $50 billion in assets, is one of the best-performing private equity firms.

Net Worth: $6 billion 

Age: 58  

Business: Private equity, finance, investments

Global Ranking: 451 

David Steward

David Steward founded IT provider firm World Wide Technology. The company’s customers include Citi, Verizon and the federal government.

Net worth: $3.7 billion

Age: 69 

Business: IT provider

Global Ranking: 807

Oprah Winfrey

Oprah Winfrey is a media mogul. She ran her own talk show for 25 years before establishing her own cable channel OWN.

Net worth: $2.7 billion

Age: 67 

Business: media and entertainment 

Global Ranking: 1,174

Kanye West

Kanye West is a musician and an entrepreneur. His Yeezy brand raked in an estimated $1.7 billion in sales in 2020.

Net Worth: $1.8 billion

Age: 43

Business: Music, Yeezy sneakers, fashion, retail

Global Ranking: 1,750 

Michael Jordan

Michael Jordan first made his mark in NBA while playing for the Chicago Bulls. He won six titles with them.

The NBA legend is a NASCAR team co-owner. He also owned Charlotte Hornets before he agreed to sell a minority stake in a 2019 deal that valued the NBA team at $1.5 billion.

Net Worth: $1.6 billion

Age: 58

Business: Charlotte Hornets, endorsements

Global ranking: 1,931 

Jay-Z

Jay-Z, just like Kanye West, makes his money from music and his businesses, Armand de Brignac champagne and D’Ussé cognac. He first became a millionaire in 2019.

Net Worth: $1.4 billion

Age: 51

Business: Media, entertainment 

Global Ranking: 2,141

Tyler Perry

Tyler Perry joined the billionaire club in 2020, according to Forbes. The actor, director, and writer makes $660 million from his “Madea” franchise.

Net Worth: $1.0 billion

Age: 51

Business: Movies, television, entertainment

Global Ranking: 2,674

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