- There are only five black billionaires in the US out of a wide pool of 607 who command billions
- Of the small crop of wealthy black men, Robert Smith leads with a nett worth of $5 billion (R85 billion), while David Steward is in the second position
- Media and sports entertainers, Oprah Winfrey, Mike Jordan, and Jay-Z, made up the rest of the list released by Forbes
Out of the 607 billionaires in America, only five are black people. This somewhat shows that it is especially difficult becoming a wealthy person if you are one of the minorities.
According to Business Insider, which quoted McKinsey report, the median white family was richer than its black counterparts in 2016 by $152k (R2.6 million).
Despite the fact the average white family was able to increase their wealth by over $50k (R869k), that of the black family was stagnant.
Below is the list of the black billionaires in the US as released by Forbes:
1. Robert Smith - $5 billion
Smith made his money from a private equity firm he founded in 2000. In 2020 he pledged a whopping sum of $50 million to his alma mater, Cornell University.
2. David Steward - $3.5 billion
He is the co-founder of World Wide Technology, a company valued at $11.2 billion. Some of its clients include Verizon, Citi and the US federal government.
3. Oprah Winfrey - $2.7 billion
Despite the fact that Oprah is a media mogul, she owns shares in big companies like Weight Watchers and has a strong partnership with Apple. It should be noted that she is a philanthropist who has given much to humanity.
4. Michael Jordan - $1.9 billion
The NBA legend was said to have collected a total salary of $90 million. He made more money in the sum of $1.4 billion from partnerships. He still has good sponsorship from big organisations like Upper Deck, Gatorade and Hanes more than a decade after he retired.
5. Jay-Z - $1 billion
Apart from music, the American hip-hop star made his money from liquor, art, real estate and shares in other big companies like Uber.
Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!