It’s no surprise that Oprah is at the top of the richest Black American’s. Oprah Winfrey’s net worth of $2.7 billion has put her at the top of the list and she will probably stay there forever. Oprah is also the ONLY billionaire on the list. Coming in second is Tiger Woods with $600 mil. Most of his money is made via sponsorships.
Bob Johson, Founder of BET, was the first Black Billionaire but look how things have changed. In 2000 he sold BET to Viacom for the cheap price of $3 billion in stock and assumed debt. But now that the Internet and a drop in the stocks of Viacom and CBS , plus investments in real estate, hotels and banks–industries pummeled in the past year amid the recession–have dragged Johnson’s net worth to an estimated $550 million. He ranks third on the list; while his former wife and BET co-founder, Sheila Johnson, ranks seventh with $400 million. Go Girl!
Michael Jordon and Magic Johnson round out the remainder of the top 5. Hip-Hop only makes the list by way of Def Jam founder Russell Simmons who barely misses the cut with a fortune of $110 million. Jay-Z hits the list at #17 with $150. So where is Diddy? Where has all the money in Hip-Hop and music gone to?
6) Bill Cosby (Net Worth $450 Million)
7) Sheila Johnson (Net Worth $400 Million)
8) R. Donahue Peebles ($350 Million) Real Estate
9) Berry Gordy Jr. ($325 Million)
10) Quintin Primo III ($300 Million) Real Estate
11) Don King ($290 Million) SURPRISING?!
12) Janice Bryant Howroyd & family ($250 Million) Staffing and Investments
13) Herman J. Russell ($200 Million) Construction
14)Ulysses Bridgeman, Jr. ($200 Million) NBA/ Restaurants
15)Tracy Maitland ($150 Million) Investments
16)Alphonse Fletcher, Jr. ($150 Million) Investments
17)Shawn “Jay-Z” Carter ($150 Million)
18)Kobe Bryant ($140 Million)
19) Shaquille O’Neal ($130 Million)
20)Kenneth I. Chenault ($120 Million) American Express