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Despite the increasing number of billionaires worldwide, Black billionaires remain a small fraction of the global ultra-wealthy, accounting for just 0.8% of the world’s richest individuals, according to Forbes’ 2025 World’s Billionaires list.
Of the 3,028 billionaires globally, only 23 are Black, with a combined net worth of $96.2 billion. The list highlights business magnates across finance, energy, and technology, underscoring the persistent wealth gap in global economics.
“These 23 are a wealthy and impressive bunch,” Forbes noted, emphasizing how Black billionaires have built their fortunes despite economic and systemic challenges.
Nigeria’s Strong Presence in the Black Billionaires’ List
Nigeria continues to make its mark in Africa’s business and investment landscape, with six Nigerians featured among the 23 Black billionaires on the 2025 list.
1. Aliko Dangote – $23.9 billion
Africa’s richest man and chairman of Dangote Group, Dangote tops the Black billionaires’ list. His wealth surged by $10.5 billion in the past year, largely driven by the commencement of operations at Dangote Refinery in early 2024.
2. Mike Adenuga – $6.8 billion
Founder of Globacom, Adenuga ranks fifth among Black billionaires. His wealth comes from investments in telecommunications, oil, and real estate.
3. Abdulsamad Rabiu – $5.1 billion
Chairman of BUA Group, Rabiu ranks sixth, with his fortune built from cement, sugar, and other industries.
4. Adebayo Ogunlesi – $2.2 billion
CEO of Global Infrastructure Partners (GIP), Ogunlesi ranked 11th among Black billionaires. His wealth surged following BlackRock’s $12.5 billion acquisition of GIP in October 2024.
5. Femi Otedola – $1.5 billion
Chairman of Geregu Power, Otedola ranks 12th. He initially built his fortune in commodities before shifting focus to Nigeria’s energy sector.
6. Tope Awotona – $1.4 billion
Founder of Calendly, Awotona ranks 14th. His scheduling software startup, launched in 2013, was valued at $3 billion by private investors in 2021.
The 2025 list reinforces the continued efforts of Black entrepreneurs and business leaders in shaping global industries, despite economic disparities.
