by Money talks, and in America, it’s speaking volumes about the success of Black entrepreneurs, entertainers, and athletes.
In 2024, we’re seeing a mix of familiar faces and new names on the list of America’s richest Black individuals.
From tech geniuses to sports legends, these people have broken barriers and built empires.
This list is about more than just numbers. It’s about dreams turned into reality, hard work paying off, and the changing face of wealth in America.
These billionaires come from different backgrounds and industries, but they all share one thing: they’ve made it big, really big.
So, who are these super-rich folks? How did they make their fortunes? And what can we learn from their journeys?
Richest Black Billionaires in the US 2024
Let’s dive into the world of the wealthiest Black Americans and explore the lives and bank accounts of the top 10 richest Black people in America for 2024.
Top 10 America’s Richest Black Billionaires of 2024
Robert F. Smith – The Private Equity Powerhouse
Net Worth: $9.2 billion
At the top of our list, we have Robert F. Smith, a name that might not be as famous as some others, but he sure packs a financial punch!
- Age: 61
- Profession: Founder and CEO of Vista Equity Partners
- Known for: Being the wealthiest Black person in America
Robert F. Smith isn’t just rich – he’s mega-rich. But how did he get there? Well, Smith didn’t just stumble into wealth. He built it, deal by deal.
Smith’s journey to the top is like something out of a movie. He started as a chemical engineer, working for big names like Kraft General Foods. But Smith had bigger dreams.
He went back to school, got his MBA from Columbia University, and then jumped into the world of investment banking at Goldman Sachs.
The real magic happened when Smith started Vista Equity Partners in 2000. This private equity firm focuses on software companies, and under Smith’s leadership, it’s grown into a powerhouse. We’re talking billions of dollars in assets under management.
What sets Smith apart isn’t just his business smarts. He’s also known for his generosity. Remember when he paid off the student debt for an entire graduating class at Morehouse College in 2019? That’s the kind of move that makes headlines and changes lives.
Smith’s success story is more than just numbers in a bank account. It’s about vision, hard work, and using wealth to make a difference. He’s not just piling up money – he’s using it to open doors for others, especially in the Black community.
In the world of finance, Robert F. Smith is a giant. He’s proof that with the right mix of smarts, determination, and opportunity, you can rise to the very top. And at the top, he’s not just enjoying the view – he’s working to bring others up with him.
David Steward – The IT Innovator
Net Worth: $7.6 billion
Next up on our list of Black billionaires is David Steward, a man who turned his tech dreams into a multi-billion dollar reality.
- Age: 72
- Profession: Founder of World Wide Technology
- Known for: Building one of the largest Black-owned businesses in America
David Steward’s story is all about turning challenges into opportunities. Growing up in the segregated South, Steward faced his fair share of obstacles. But instead of letting them hold him back, he used them as fuel for his ambitions.
Steward’s big break came when he founded World Wide Technology (WWT) in 1990. Starting with just a handful of employees and a whole lot of determination, he built WWT into a global IT powerhouse.
Today, the company provides tech solutions to some of the biggest names in business and government.
What’s impressive about Steward isn’t just his business success. It’s how he’s used his position to lift others. He’s a big believer in giving back, supporting education, and community programs that help create opportunities for others.
Here’s a quick look at what makes David Steward stand out:
- From humble beginnings: Steward grew up in a home without indoor plumbing, proving that where you start doesn’t determine where you end up.
- Tech visionary: He saw the potential in IT services before many others, positioning WWT at the forefront of the tech revolution.
- Job creator: WWT employs thousands of people, making a real impact on communities.
- Philanthropist: Steward is known for his generous support of educational and community initiatives.
David Steward’s journey from a small-town kid to a billionaire tech mogul is more than just a success story. It’s a testament to the power of vision, perseverance, and giving back. In the world of IT, Steward isn’t just a player – he’s a game-changer.
Michael Jordan – From Court to Boardroom
Net Worth: $3 billion
When you think of Michael Jordan, you probably picture him soaring through the air, basketball in hand. But these days, Jordan’s high-flying moves are happening in the business world.
- Age: 60
- Profession: Former NBA player, businessman, owner of Charlotte Hornets
- Known for: Being the greatest basketball player of all time and a savvy entrepreneur
Michael Jordan’s journey from the basketball court to the billionaires’ club is nothing short of spectacular. Here’s how he’s kept winning long after hanging up his Air Jordans:
- Basketball legend: Jordan’s NBA career is the stuff of legends. Six championships, five MVP awards, and a whole lot of gravity-defying dunks.
- Brand power: The Air Jordan brand is still a slam dunk in the sneaker world, bringing in big bucks for Nike and MJ.
- Smart investments: From owning an NBA team to investing in tequila, Jordan’s business portfolio is as diverse as his on-court skills.
- Cultural icon: Jordan isn’t just an athlete or a businessman – he’s a global brand unto himself.
What makes Jordan’s success so impressive is how he’s leveraged his fame into lasting financial success. While many athletes struggle after retirement, Jordan’s star has only risen higher.
His ownership of the Charlotte Hornets is a big part of his wealth. But it’s not just about owning a team – it’s about being a trailblazer.
As one of the few Black majority owners in major league sports, Jordan is changing the game off the court too.
But let’s not forget the Air Jordan brand. Those sneakers aren’t just footwear – they’re a cultural phenomenon. Every time someone laces up a pair of Air Jordans, they’re adding to MJ’s bottom line.
Jordan’s business savvy extends beyond sports and sneakers. He’s got his fingers in all sorts of pies, from restaurants to car dealerships. And let’s not forget his foray into the world of premium tequila with Cincoro.
Michael Jordan’s transformation from sports superstar to business mogul is a masterclass in brand building and smart investing. He’s proof that with the right moves, you can keep winning long after the final buzzer.
Movie on Michael Jordan
Oprah Winfrey – The Media Queen
Net Worth: $2.8 billion
When it comes to rags-to-riches stories, few can top Oprah Winfrey’s. From a tough childhood to becoming the queen of all media, Oprah’s journey is truly inspiring.
- Age: 69
- Profession: Media mogul, talk show host, actress, producer
- Known for: “The Oprah Winfrey Show” and building a media empire
Oprah’s rise to the top is the stuff of legend. Let’s break down how she built her billion-dollar empire:
- Talk show titan: “The Oprah Winfrey Show” wasn’t just a TV program – it was a cultural phenomenon that ran for 25 years.
- Media maverick: Oprah’s OWN network shows she’s not afraid to take big risks in the media world.
- Acting chops: From “The Color Purple” to “Selma,” Oprah’s proven she’s got serious acting skills.
- Businesswoman: Smart investments and savvy business moves have kept Oprah’s wealth growing.
- Influencer before it was cool: Oprah’s book club and product recommendations can make or break a brand.
What sets Oprah apart isn’t just her wealth – it’s how she’s used her platform. She’s tackled tough issues, promoted literacy, and given a voice to the voiceless. Her influence goes way beyond entertainment.
Oprah’s business moves are just as impressive as her on-screen presence. She was one of the first celebrities to understand the power of owning your content.
By taking control of her show and starting her own production company, she set herself up for long-term success.
But it’s not all about the money for Oprah. She’s known for her philanthropy, especially in education. The Oprah Winfrey Leadership Academy for Girls in South Africa is just one example of how she’s giving back.
Oprah’s journey from a difficult childhood in rural Mississippi to becoming one of the most influential and wealthy people in America is more than just a success story. It’s a testament to the power of hard work, authenticity, and using your platform for good.
In a world of fleeting fame, Oprah has built lasting success and influence. She’s not just rich – she’s rich in impact, using her wealth and platform to make a real difference in the world.
Jay-Z – The Rapper Turned Business Mogul
Net Worth: $2.5 billion
From the streets of Brooklyn to the pinnacle of the business world, Jay-Z’s rise is the epitome of the American Dream.
- Age: 54
- Profession: Rapper, entrepreneur, investor
- Known for: Being one of the greatest rappers of all time and a savvy businessman
Jay-Z’s journey from selling CDs out of his car to becoming a billionaire is nothing short of remarkable. Here’s how he built his empire:
- Rap royalty: With 14 No. 1 albums and 22 Grammy Awards, Jay-Z’s music career alone is legendary.
- Music mogul: He founded Roc-A-Fella Records and later became president of Def Jam Recordings.
- Tidal wave: His streaming service, Tidal, shook up the music industry.
- Spirits and champagne: Investments in D’Ussé cognac and Armand de Brignac champagne have paid off big time.
- Sports and beyond: From owning a piece of the Brooklyn Nets to starting Roc Nation Sports, Jay-Z’s influence spans industries.
What makes Jay-Z’s success so impressive is how he’s diversified his interests. He’s not just a rapper who made some smart investments – he’s a full-fledged business mogul who happens to be an incredible musician.
Jay-Z’s business acumen is as sharp as his lyrics. He saw the potential in streaming music before many others, leading to his investment in Tidal.
While it might not have become the next Spotify, it still netted him a hefty profit when he sold a majority stake to Square (now Block) in 2021.
But it’s not all about the money for Jay-Z. He’s used his platform and wealth to advocate for criminal justice reform and support education initiatives.
His Shawn Carter Foundation provides scholarships to underprivileged youth, showing that he hasn’t forgotten where he came from.
Jay-Z’s partnership with his equally famous wife, Beyoncé, has created a power couple like no other.
Together, they’re not just entertainment royalty – they’re a brand, a movement, a force for change.
From “hard knock life” to the high life, Jay-Z’s story is about more than just accumulating wealth.
It’s about vision, versatility, and using success to open doors for others. In the world of music and business, Jay-Z isn’t just playing the game – he’s changing the rules.
Alexander Karp – The Silicon Valley Maverick
Net Worth: $1.9 billion
In the world of tech billionaires, Alexander Karp stands out as a unique figure. He’s not your typical Silicon Valley CEO, and that’s exactly what makes him interesting.
- Age: 56
- Profession: Co-founder and CEO of Palantir Technologies
- Known for: Leading a controversial but highly valuable data analytics company
Alexander Karp’s path to billions wasn’t the usual computer science degree-to-startup route. Here’s what makes his story unique:
- Unconventional background: Karp has a law degree and a PhD in social theory. Not your typical tech CEO resume.
- Palantir powerhouse: Co-founded Palantir Technologies, a company that turns big data into actionable insights.
- Government connections: Palantir’s work with government agencies has been both a source of growth and controversy.
- Privacy debates: Karp often finds himself at the center of discussions about data privacy and ethics.
- Eccentric leader: Known for his unusual management style and quirky personal habits.
What sets Karp apart in the tech world is his background in philosophy and law. He brings a different perspective to the table, one that’s both valuable and sometimes controversial in the data-driven world of Silicon Valley.
Palantir, the company Karp co-founded, isn’t your average tech startup. It specializes in data analytics for large organizations, including government agencies. This focus has led to rapid growth but also put Palantir and Karp under scrutiny.
Karp’s leadership style is as unconventional as his background. He’s known for practicing meditation and martial arts, bringing a touch of Zen to the high-stress world of tech leadership.
But it hasn’t all been smooth sailing. Palantir’s work with immigration agencies has drawn criticism, putting Karp in the hot seat when it comes to questions of ethics in technology.
He’s had to defend his company’s work while navigating the complex world of government contracts and public opinion.
Despite the controversies, there’s no denying Karp’s success. Taking Palantir public in 2020 solidified his place among tech billionaires. It’s a testament to his ability to turn complex data solutions into a highly valuable business.
Alexander Karp’s journey to billionaire status shows that there’s more than one path to success in the tech world. His story is about leveraging unique skills, tackling big challenges, and not being afraid to stand out in a crowd.
Tope Awotona – The Software Sensation
Net Worth: $1.2 billion
In the world of tech startups, Tope Awotona’s story stands out as a true rags-to-riches tale. He’s the newest and youngest face on our list of Black billionaires.
- Age: 42
- Profession: Founder and CEO of Calendly
- Known for: Creating a wildly successful scheduling software company
Tope Awotona’s journey to billionaire status is as inspiring as it is impressive. Here’s what makes his story special:
- Immigrant success: Born in Nigeria, Awotona moved to the US as a teen and embodies the American Dream.
- Persistence pays off: Calendly wasn’t his first business attempt, but it was the one that struck gold.
- Problem solver: He created Calendly to fix a problem he experienced with scheduling.
- Bootstrap to billions: Started Calendly with his life savings and grew it without major outside investment for years.
- Rapid growth: Calendly went from startup to unicorn status in just a few years.
What sets Awotona apart is his tenacity. Before Calendly, he tried his hand at several businesses, from selling projectors to garden tools. None of them took off, but each failure taught him valuable lessons.
The idea for Calendly came from a real-world problem. Awotona was frustrated with the back-and-forth of scheduling meetings and thought there had to be a better way. Turns out, lots of people agreed with him.
Calendly’s success is a classic example of the right product at the right time. As remote work and digital communication boomed, especially during the pandemic, Calendly became an essential tool for many businesses and individuals.
But it wasn’t all smooth sailing. Awotona took a big risk, investing his life savings of $200,000 into starting Calendly. It was a gamble that paid off big time, but it shows the level of belief he had in his idea.
What’s impressive about Awotona’s success is how he built Calendly without relying on venture capital for years. This bootstrapped approach allowed him to maintain control and build the company his way.
Tope Awotona’s rise to billionaire status isn’t just a tech success story. It’s a testament to the power of persistence, problem-solving, and believing in your vision.
In a world where tech founders often come from privileged backgrounds, Awotona’s journey shows that with the right idea and a lot of hard work, anyone can make it big.
Tiger Woods – The Golfing Great
Net Worth: $1.1 billion
When you think of golf, one name stands out above all others: Tiger Woods. But Tiger’s success isn’t limited to the golf course – he’s also a heavyweight in the business world.
- Age: 48
- Profession: Professional golfer, entrepreneur
- Known for: Being one of the greatest golfers of all time and a global sports icon
Tiger Woods’ journey to billionaire status is a mix of athletic brilliance and smart business moves. Here’s what makes his story unique:
- Golf prodigy: Woods was a child prodigy who turned pro at 20 and dominated the sport for years.
- Comeback king: He overcame personal scandals and serious injuries to win again at the highest level.
- Brand power: The Tiger Woods brand has been a goldmine for endorsements and partnerships.
- Course design: Woods has ventured into golf course design, adding another revenue stream.
- TGR Ventures: His company oversees his various business interests, from restaurants to event production.
What sets Tiger apart is how he’s leveraged his success on the golf course into a diverse business empire. While many athletes rely solely on their sport for income, Woods has built a brand that transcends golf.
Tiger’s impact on golf can’t be overstated. He brought new excitement to the sport, attracting a younger and more diverse audience.
This popularity translated into massive endorsement deals with companies like Nike, helping to build his fortune.
But it hasn’t all been smooth sailing. Woods faced personal scandals and debilitating injuries that threatened both his career and his earning power.
His ability to overcome these setbacks and return to winning form is a testament to his resilience.
Woods’ venture into course design shows his business savvy. By creating courses around the world, he’s ensuring a legacy (and income stream) that will last long after he stops competing.
Through TGR Ventures, Woods has his hands in various businesses, from restaurants to events. This diversification helps protect his wealth and shows he’s thinking beyond his playing days.
Tiger Woods’ journey to billionaire status is about more than just winning golf tournaments. It’s a masterclass in building a personal brand and leveraging fame into lasting financial success.
LeBron James – The King of Courts and Commerce
Net Worth: $1 billion
LeBron James isn’t just royalty on the basketball court – he’s also king when it comes to building wealth off the court.
- Age: 39
- Profession: NBA player, entrepreneur, media mogul
- Known for: Being one of the greatest basketball players ever and a savvy businessman
LeBron’s path to billionaire status is as impressive as his on-court achievements. Here’s what makes his story stand out:
- Basketball brilliance: Four NBA championships, four MVP awards, and still dominating the game in his late 30s.
- Early entrepreneur: Started building his business empire while still a young player.
- Media maven: Co-founded production company SpringHill Entertainment, creating content for various platforms.
- Smart investments: Stakes in Liverpool F.C., Blaze Pizza, and other ventures have paid off handsomely.
- Social impact: Uses his wealth and influence to make a difference, including opening the I Promise School in his hometown.
What sets LeBron apart is how he’s built his wealth while still at the top of his game as an athlete. Unlike many sports stars who focus on business after retirement, James has been building his empire from day one.
LeBron’s business acumen is as sharp as his court vision. He famously turned down a $10 million check from Reebok as a teenager, betting on himself and eventually landing an even bigger deal with Nike. That kind of long-term thinking has defined his business career.
But it’s not all about making money for LeBron. He’s used his wealth and influence to make a real difference, especially in education. The I Promise School in Akron, Ohio, is a prime example of how he’s giving back to his community.
LeBron’s media ventures show his understanding of the power of storytelling. Through SpringHill Entertainment, he’s not just a subject of media attention – he’s creating content and controlling the narrative.
His investment in Blaze Pizza showcases his ability to spot trends and leverage his brand. By becoming a franchisee and brand ambassador, he helped turn a small pizza chain into a national brand.
LeBron James’ rise to billionaire status isn’t just about smart investments – it’s about building a brand and using it to create positive change. He’s showing that athletes can be more than just players – they can be leaders in business and their communities.
Tyler Perry – From Struggling Playwright to Media Mogul
Net Worth: $1 billion
Last but certainly not least on our list is Tyler Perry, a man who turned his struggles into stories and those stories into a media empire.
- Age: 54
- Profession: Filmmaker, playwright, actor, producer
- Known for: Creating the Madea character and building a massive entertainment empire
Tyler Perry’s journey to billionaire status is a true rags-to-riches tale. Here’s what makes his story so compelling:
- Humble beginnings: Overcame a tough childhood and homelessness to pursue his dreams.
- Stage success: Built a loyal following through his stage plays before transitioning to film and TV.
- Madea phenomenon: Created the character of Madea, which became a cultural icon and box office gold.
- Studio owner: Opened Tyler Perry Studios, one of the largest film production facilities in the US.
- Content creator: Produces a vast array of TV shows and movies, owning the content outright.
What sets Perry apart is his DIY approach to entertainment. He writes, directs, produces, and often stars in his projects, maintaining creative control and ownership of his work.
Perry’s success is built on knowing his audience. He created content for an underserved market – primarily African American women – and built a loyal fan base that has supported him throughout his career.
The creation of Tyler Perry Studios in Atlanta is perhaps his most impressive achievement. It’s not just a studio – it’s a statement. Built on a former Confederate army base, it’s a symbol of progress and a testament to Perry’s success.
But Perry’s not just about making money. He’s known for his philanthropy, often helping people in need quietly and without fanfare. His studio has also provided opportunities for many in the Black community in Atlanta.
Perry’s business model of ownership and control is revolutionary in Hollywood. By owning his content outright, he’s built a library of work that continues to generate income long after its initial release.
Tyler Perry’s rise to billionaire status is more than just a financial success story. It’s about perseverance, knowing your worth, and creating opportunities not just for yourself, but for your community.
Conclusion: The Changing Face of Wealth in America
As we wrap up our tour of America’s richest Black billionaires, it’s clear that wealth in the U.S. is becoming more diverse, even if progress is slow.
These ten individuals represent success across various fields – from tech and finance to sports and entertainment.
Here are some key takeaways from our list:
- Diversity of industries: While entertainment and sports are well-represented, we’re seeing more Black billionaires in tech and finance.
- Self-made success: Most of these billionaires built their wealth from the ground up, often overcoming significant obstacles.
- More than money: Many on this list are known for their philanthropy and efforts to create opportunities for others.
- Ownership matters: Whether it’s Tyler Perry owning his content or Michael Jordan owning an NBA team, control and ownership are key to long-term wealth.
- Brand power: Many have leveraged their brands into successful business ventures.
While these success stories are inspiring, it’s important to note that they’re still exceptions.
The racial wealth gap in America remains significant, with the median white family having about eight times the wealth of the median Black family.
However, the individuals on this list serve as powerful role models and are often actively working to create more opportunities for the Black community.
From Robert Smith paying off student loans to LeBron James opening a school, they’re using their wealth to make a difference.
As we look to the future, the hope is that this list will continue to grow and diversify. The success of these ten billionaires shows what’s possible when talent meets opportunity.
They’re not just accumulating wealth – they’re changing perceptions, breaking barriers, and paving the way for future generations.
In a world where wealth often seems out of reach for many, these stories remind us that with vision, hard work, and sometimes a bit of luck, extraordinary success is possible.
They challenge us to think bigger, dream harder, and maybe most importantly, use success as a means to lift others.
The story of Black wealth in America is still being written. These ten billionaires are leading characters in that story, but they’re also working to ensure that many more can join them in the chapters to come.
We also shared the Top 10 Richest Lawyers In America, and you must check out this list of attorneys for sure.
