More on Black wealth

Posted: March 25, 2008 in Uncategorized

World’s wealthiest Blacks

By William Reed

Collectively Black Americans are the richest Blacks in the world. But, only two Black Americans can claim a nine-figure. Times are changing and Black Africans are making more money than African Americans and have made it onto Forbes’ list of the world’s wealthiest billionaires.

At the top of Forbes’ list, Warren Buffett’s $62 billion ranks him as the world’s richest man. Of the world’s 1125 wealthiest individuals, Mexico’s Carlos Slim Helu ranks second with $60 billion. Despite being worth $58 billion, $2 billion more than last year, Microsoft’s Bill Gates is now just the world’s third-richest person.

Ethiopian-born Mohammed Al Amoudi is the richest Black person in the world with a total net worth of $9 billion. Al Amoudi is ranked 97th on the Forbes list and followed by billionaire Blacks such as Nigeria’s Aliko Dangote ($3.3 billion), American Oprah Winfrey ($2.5 billion), London-based Sudanese Mohamed “Mo” Ibrahim ($2.5 billion) and South African Patrice Motsepe ($2.4 billion). BET founder Robert Johnson’s divorce dropped him to just a $1 billion fortune.

Al Amoudi made his fortune in construction and real estate before betting on Swedish and Moroccan oil refineries. His Svenska Petroleum conducts oil exploration from the Nordic shelf to the Ivory Coast. He is the largest private investor in Ethiopia, putting money into such diverse assets as a hotel, gold mines and a food processing plant.

At the age of 21, Aliko Dangote became a stock trader off a loan from his uncle. 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. Dangote is ranked the 334th richest man in the world. (read more…)

  1. Tyrone says:

    This is great. Check out George Farrell. A very wealth business man from Miami

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