Forbes' ranking of the world’s richest Black billionaires reveals a striking divide between Africa’s industrial moguls and America’s business and cultural icons. Leading the list is Aliko Dangote from Nigeria, whose $23.9 billion fortune spans cement, sugar, and other industries. Nigeria stands out with three billionaires—Dangote, Mike Adenuga ($6.8B, telecom and oil), and Abdulsamad Rabiu ($5.1B, cement and food)—underscoring the nation’s dominance in African wealth.
The United States contributes six billionaires mainly from technology, business, and entertainment sectors. Notables include David Steward ($11.4B, IT services), Robert F. Smith ($10.8B, private equity), Michael Jordan ($3.5B), Oprah Winfrey ($3.0B), Jay-Z ($2.5B), and Alexander Karp ($8.4B, Palantir CEO), reflecting a more diversified spectrum of wealth. South Africa’s Patrice Motsepe ($3.0B), a mining magnate, completes the top ten.
While Africa’s wealth is largely rooted in natural resources and industry, many millions continue to face poverty and food insecurity. This disparity challenges us to rethink how wealth is created and shared on the continent. The future depends on visionary entrepreneurs—and systems—that put people and communities at the heart of business, ensuring growth benefits everyone, not just a select few.
By “placing people first” in business, I mean prioritizing investments that are socially responsible, environmentally sustainable, and ethically grounded—rooted in local contexts. It’s about supporting projects that bring tangible benefits to communities, ensuring that wealth creation stays in the hands of grassroots people rather than being siphoned off by exploitative or corrupt elites. This approach fosters inclusive development where both business success and social good go hand in hand.
Let’s support those pioneering inclusive, sustainable models—from Ethiopia and beyond—who prove that success is not just about numbers but about impact.
How can we, as leaders and professionals, contribute to building this more equitable future?
source :Image: Forbes Top 10 Black Billionaires, April 2025
