Despite the growing number of billionaires worldwide, Black billionaires remain a rarity, making up just 0.8% of the world’s wealthiest individuals, according to Forbes’ 2025 World’s Billionaires list.
Out of the 3,028 billionaires globally, Forbes reports that only 23 are Black, with their combined wealth amounting to $96.2 billion. The list, which features business magnates from finance, energy, and technology, underscores the persistent wealth gap in global economics.
“These 23 are a wealthy and impressive bunch,” the report stated, highlighting how Black billionaires have built their fortunes across various industries despite economic and systemic challenges.
Among the 23 Black billionaires named by Forbes, six are Nigerians, reinforcing the country’s strong presence in Africa’s business and investment landscape.
Topping the list of Nigerians is Aliko Dangote, chairman of Dangote Group. Dangote remains Africa’s richest man and tops the Black billionaires’ list with a net worth of $23.9 billion. His fortune surged by $10.5 billion in the past year, largely due to the commencement of operations at the Dangote Refinery in early 2024.
Following closely is Mike Adenuga, the Founder of Globacom. Adenuga ranks fifth among Black billionaires with a net worth of $6.8 billion. His fortune comes from telecommunications, oil, and real estate investments.
The Founder of BUA Group, Abdulsamad Rabiu, is sixth on the list with a net worth of $5.1 billion, built from cement, sugar, and other industries.
With a net worth of $2.2 billion, Adebayo Ogunlesi, CEO of Global Infrastructure Partners (GIP), ranked 11th among Black billionaires. His wealth increased following BlackRock’s $12.5 billion acquisition of GIP in October 2024.
Femi Otedola, chairman of Geregu Power, ranks 12th with a net worth of $1.5 billion. He first built his fortune in commodities before shifting his focus to Nigeria’s energy sector.
The last Nigerian on the World’s Black Billionaires 2025 list isTope Awotona, the founder of Calendly, ranks 14th with a net worth of $1.4 billion. His scheduling software startup, launched in 2013, was valued at $3 billion by private investors in 2021.
