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For the first time ever, black Africans have made it onto the Forbes list of the world's wealthiest billionaires. While one hails from South Africa, the other rules his enterprise in Nigeria.
This exclusive club includes Warren Buffett, the world's richest man, who has a fortune estimated at $62 billion. He's banked $10 billion more since last year.
Aliko Dangote (from Nigeria, pictured left) and Patrice Motsepe (from South Africa, pictured below) have wealth of $3.3 billion and $2.4 billion respectively, and represent some of the richest black people in the world.
This exclusive club includes Warren Buffett, the world's richest man, who has a fortune estimated at $62 billion. He's banked $10 billion more since last year. Aliko Dangote (from Nigeria, pictured left) and Patrice Motsepe (from South Africa, pictured below) have wealth of $3.3 billion and $2.4 billion respectively, and represent some of the richest black people in the world.
At the age of 21, Dangote became a stock trader off an uncle's loan. After he built his company, The Dangote Group, into a conglomerate with interests in sugar, flour milling, cement and salt processing, he struck gold when his sugar production company was listed on the Nigerian stock exchange last year
The Dangote Group dominates the sugar market in Nigeria and is the country's largest Industrial group.
He is ranked the 334th richest man in the world and the the second richest black person in the world after Ethiopian-born Mohammed Al Amoudi. Al Amoudi is the richest black person in the world with a total net worth of $9 Billion followed by Oprah Winfrey ($2.5 billion), Mo Ibrahim ($2.5 billion) and of course Patrice Motsepe ($2.4 billion).
Motsepe, has been dubbed the "prince of mines" by some because of the vast fortune he has amassed through his company African Rainbow Minerals (ARM). Not only is he the executive chairman of ARM, but he also holds a 42 percent stake in the company, allowing him to join the 226 other new billionaires to join this list this year.
Over 15 years Motsepe, preaching free market capitalism, turned a low-level mining services business into the country's first black-owned mining company, African Rainbow Minerals, with 2007 revenue of $875 million. Driven by the Asian commodities boom, ARM's share price has rocketed in the past year from $12 to $24, pushing Motsepe's net worth to $2.4 billion.
Comments: (80)
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By: Afordlove on 3/16/2008 9:01PM
It means nothing if your not doing nothing to help somebody with it and your employee are only making a dollar a week so it say nothing about the Goverment there when there are so many Black folks Homeless and starving for food and HIV.
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By: tony oke on 3/16/2008 10:00PM
Goodness, Africans should watch out for who they think they can trust as Africans try to find their footing and progress in the world. The so called "African Americans" or "blacks" in America will push for US military invasion of Africa, if Africans were seen as advancing themselves. The envy is simply out of control. Compare this to how people are praising Gov. Patterson of NY.
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By: Lois x Brundage Vance on 3/16/2008 11:24PM
Hey, did anyone notice that they said 2 richest Africans, not African Americans?
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By: tony oke on 3/17/2008 1:38AM
Yes, they called them Africans which is why African Americans are hostile to their achievements. African Americans somehow feel slighted that Africans can become billionaires.
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By: harvey elliott on 3/17/2008 1:53AM
The rich do not care about the poor. Doesn't matter if they are black or white. Oprah takes very good care of others who are rich. The neighbors to her studio were given millions by Oprah to redo their baconeys none were black but all were rich. She takes care of Dr Phil, Rachael Ray, and other whites. Don't forget the publicity she gets from opening a school in South Africa. At the same time she tells the world that she will not visit intercity schools in the US because the students only want Ipods and sneakers. Some of the gifts she gives away during her christmas show. We cannot depend on the Oprahs of the world but to teach our children to not be like them.
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By: blacminerals on 3/18/2008 11:18AM
I am happy to see aol focusing on the wealth of black, that not all sports and music. It about time people focused on these kinds of thing. For me it very inspiring and lets me know I can do it too. I'll never understand why we can't appreciate this stuff and learn from it. Every other race does but us. We complain and rather than say wow that great, we say why focus on them, they should give their money to help us who don;t have it. Let me ask you , WHY? They worked extremely hard to get where they are, why should they give it to you when you haven't done anything for it? We stop asking for hand outs all the time and start doing for ourselves. In this day and age there are absolutely no excuses for not trying. NONE!!
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By: blacminerals on 3/18/2008 11:19AM
Also instead of everyone asking the rich to give to the poor, As the bible saids, give a man a fish and he will eat for the day, teach a man to fish he will eat for a lifetime.Money alone won't solve hunger and poverty. Educating the poor and impoverished on how to create their own business and services, and becoming financially literate will help them, and if they ever find themselves in that situation again they will know how to overcome.
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By: Clement on 3/25/2008 11:07AM
This is good for Africa. I hope that next year, there will be even more black African billionaires in the Forbes release
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By: helene on 12/28/2008 8:52AM
: I am so happy that Ethiopian-born business tycoon, Mohammed Al Amoudi is the richest black person in the world. Wake up black America!You guys always make so fun of Africans all the time.Talking about Ethiopians are all starving.Did you know scientist stated that Africa is the richest continent in the world? with its natural resources.(dimond,gold,oil,etc.)comes from the continent of africa. I'm not shocked. I mean wasn't Marcus Garvey who said "when a black King is crowned turn to Africa" and that when Haile Selassie I was the King Emperor of Ethiopia. For the record Africans and African Americans are not the same, the culture,customs,lanuage,etc. We as Africans don't give a rat ass about Martin luther King Jr.,Malcolm x, Rosa Parks, Madam C. J. Walker, etc. They have not done anything for the people on the continent of Africa. Mention Haile Selassie I, Queen Seba, Nelson Mandela,Queen Afrodite, King Solomon,Robert Mugabe,Isaias Afworki, Meles Zenawi,Mengistu Haile Mariam,etc and now your talking. We as African don't dislike African Americans we hate African Americans.Why is it that they call them self African American? You guys never been to the mother land.(I always reference you group of animals as Black Americans).But love Jamaicans,Cubans,Puerto ricans,Haitians,dominicans,people of the Virgin Island,etc. They have a culture! African Americans have no identity you guys where strip!!!!By far we east african don't look like you black africans.For example black american women weaves,bell-pepper nose,snake skin,can't tie there hair in ! a ponytail,etc.Ethiopian, Eritrean,Soliman,Morracan,Eggyptian,women high cheekbones, white teeth,wavey curl hair,skin that glows(the newest face of Estee Lauder cosemetics making her the first person of color Ethiopian born Liya Kebede,video vixen Angel lola love,also Ethiopian,handbag designer,the wife of wolfgang puck(Austrian Celebrity Chef,restaurateur,business man) Ethiopian born Gelila Assefa. They kids are so adorable part austrian,part ethiopian,and last but not least Trey Songz is engaged to Helen,and yes she is Ethiopian.
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By: Martin Damo on 3/27/2009 3:46PM
I think this is exceptional. What is happening is the spread of wealth globally amongst people of color. I predict black entrepreneurs will unite globally and pool their resources and you will have black giant banks and insurance companies. Similarly, micro loans will uplift our people out of poverty and create thousands of businesses so that we yank ourselves out of mediocrity and mental slavery.
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