Only about 1% of the nearly 3,000 billionaires in the world are Black. While we all have our feelings about billionaires, it’s still nothing short of monumental that multiple Black people have achieved the status. It’s a feat that many of our ancestors couldn’t even fathom as a possibility.
So, here are eight Black celebrities who have, against all odds, achieved billionaire status:
Jay came out of the gate in a business mindset. He started Roc-A-Fella Records back in 1995 after not being able to land a record deal from any major labels. After he released his first album, his career catapulted to unreal heights through the late ’90s and early 2000s.
Most of the fortune Rihanna has gained comes from the 50% stake in her Fenty Beauty cosmetics brand, which she splits with the infamous luxury retailer Louis Vuitton-Moët Hennessy (LVMH). Back in 2021, Forbes estimated that Fenty Beauty was worth an unbelievable $2.8 billion.
CBS noted back in 2022 that most of his money comes from cash and investments. He had a stake in Beats by Dre, which was eventually sold to Apple for $3 billion. He also has shares in Beachbody, the company that acquired his sports nutrition business that he co-founded with Arnold Schwarzenegger.
Known to many as one of, if not the greatest, basketball player of all time, off the court Michael made about $2.4 billion from deals with brands like McDonald’s, Gatorade, Nike, and Hanes. According to Forbes, his yearly Nike royalty check was about $260 million in 2023.
5.
Oprah Winfrey: $3 Billion
Oprah launched her television network OWN in 2011, and by 2019, she had earned a substantial amount of her $37 million intake for the year from the network alone. She also has a production company, Harpo Productions, which produced films like the 2023’s The Color Purple.
6.
Tyler Perry: $1.4 Billion
In 2017, Tyler signed a contract with ViacomCBS (the parent company of BET) to produce exclusive and original content for the BET network. The company reportedly pays him about $150 million a year and provides him with a 25% equity stake in the streaming service BET+, which Forbes estimates added about $60 million to his net worth.
7.
Tiger Woods: $1.3 Billion
According to Forbes, less than 10% of Tiger’s net worth comes from golf winnings. The majority of his fortune comes from mega endorsement deals he’s done throughout his career. Working with brands like Gatorade, Rolex, Monster Energy, and his biggest backer, Nike, has created this billion-dollar fortune.
8.
Earvin “Magic” Johnson: $1.6 Billion
As the fourth professional athlete to become a billionaire, Magic found his fortune in an outstanding post-basketball career. He acquired stakes in many professional sports teams, like the Washington Commanders and three separate Los Angeles teams, and that’s only a part of his work.
Any surprises about who made the list and who didn’t? Let me know your thoughts down in the comments!