The fortunes of billionaires are increasing across the board. There are 2,825 billionaires in the world and 664 of them are United States citizens. Of those billionaires, only 15 are globally black and seven black billionaires live in the United States. This is another example of the widening gap between economic opportunities offered to black and white Americans. Since 1992, the average wealth of black families has not increased by any real measurable amount, while the average wealth of white families has increased by more than $ 50,000.
Black American billionaires have seen their net worth increase over the past year of the COVID epidemic. All seven black American billionaires are self-made. His fortunes range from finance to sports to media to music and fashion. Many of them are very famous with well-known names and careers. They are all trailblazers in their industries. America’s five richest black billionaires have a net worth of $ 22.7 billion. The two wealthiest, Robert F. Smith and Kanye West both have total assets north of $ 6 billion. In fact, recently Kanye West became the richest black American billionaire. Let’s take a look at America’s five richest black people
# 5 Michael Jordan
Net worth: $ 2.2 billion
Michael Jordan is the highest-paid athlete ever, but not because of his salary to the Chicago Bulls. Jordan did not contribute as much to basketball playing during his 15 seasons in the NBA after being off the court with endorsements. During his NBA career, Jordan earned $ 93 million. Today he brings home more than $ 100 million every year from his endorsement deal with Nike. Today the Nike-owned Jordan brand basketball sneaker accounts for about 50% of the market and gives (give or take) an average of $ 3 billion in revenue annually for Nike. In any given year, Michael earns $ 80 – $ 100 million from Nike royalties. The Charlotte Hornets are the biggest asset of NBA team Jordan. He was a minority investor in the team which started in 2006 and took control of the team in 2010. Jordan’s time in buying the Hornets’ majority control could not have been better. When they were approved for the deal in March 2010, the franchise was valued at $ 175 million. Since that time, NBA values have skyrocketed. He owns about 90% of the franchise, which was recently given a minimum value of $ 1.15 billion. Jordan’s stake in the Hornets alone is over $ 1 billion.
# 4 Oprah Winfrey
Net worth: $ 3.5 billion
Oprah Winfrey is the queen of all media. She is a talk show host, actress, producer, pitchwoman, and philanthropist. Pretty much everything he touches turns into gold. This is not to say that she does not work hard for her success – no one works harder than Oprah. She is best known for her award-winning talk show, which ran from 1986 to 2011. He is one of the richest African Americans out of 20Th And 21scheduled tribe Centuries. At one time, she was the only African American billionaire in the world. She has a cable network, her acting career, her magazine, the shows she hosts, and let’s not forget her breathtaking endorsement deal with Let’s Wait Watchers, to name just a few of her income. Oprah makes anywhere from $ 75 million to $ 300 million every year, which has given her an amazing net worth of $ 3.5 billion.
# 3 David Steward
Net worth: $ 3.9 billion
David Steward founded World Wide Technology, a technology service provider in 1990 with seven employees on a Schoestring budget. WWT focuses on telecommunications networks and enterprise-wide conversion services. The company provides planning, purchasing and deployment of IT products and solution sales. As of 2003, WWT’s revenue was $ 1 billion. As of 2010, revenue was over $ 3.2 billion. Today, WWT has revenues of $ 12 billion and is one of the largest private companies and one of the largest black-owned businesses in the US. Located in Missouri, WWT is the top US reseller of Cisco solutions and ranks second in the world. The company has more than 70 Fortune 100 companies as well as several major federal procurement contracts. WWT has more than 6,500 employees in 20 offices worldwide.
# 2. Robert F. Smith
Net worth: $ 6.5 billion
Robert F. Smith is the founder, president and CEO of Vista Equity Partners LLC. Today founded in 2000, Vista Equity Partners has control of over $ 57 billion in assets and has given an average annual return of 30% Answer since its inception. Before launching Vista, Robert F. Smith worked for Goldman Sachs in the mergers and acquisitions division from 1994 to 2000. He worked for Kraft from 1986 to 1992. Smith graduated from Cornell University and Columbia Business School. Smith is the first African American to sign the Giving Pledge. He is a prominent philanthropist who made big news in 2019 when he made the announcement during a commencement speech at Morehouse College to pay $ 34 million in group loans to students. A few months later, he expanded that gift to include the parents of those students.
# 1 Kane West
Net worth: $ 6.6 billion
It was only last year when rapper and sneaker Mogul Kanye West made $ 3.2 billion in the billionaire club. A year later, he is undergoing a divorce from Kim Kardashian and has more than doubled his net worth. According to the new valuation prepared by investment bank UBS, Kanye’s sneaker / apparel partnership with Adidas is between $ 3.2 billion and $ 4.7 billion. Kanye is 100% owner of the Yeezy brand, so those valuations go directly to her bottom line. In addition, according to UBS, its brand new partnership with The Gap is worth $ 1 billion. With this, Kanye’s total assets increased to $ 6.6 billion. Kanye West is now the richest man in American history. West is third Richest celebrity in the world, Only behind Steven Spielberg ($ 7 billion) and George Lucas ($ 10 billion).