Money
Ranked: The World’s Black Billionaires in 2021
The World’s Black Billionaires in 2021
Black billionaires make up fewer than 1% of all billionaires worldwide. Who are the select few who made it into the ranks of the world’s richest people?
In this graphic, we used the Forbes real-time billionaire list to highlight the most financially successful Black people, and the source(s) of their wealth.
Black Billionaires, Ranked
The data is as of February 24, 2021, and includes bi/multi racial individuals with Black ancestry. Altogether, there are 15 Black billionaires with a combined wealth of $48.9 billion.
Here is the how the full list breaks down:
| Rank | Name | Net Worth | Citizenship | Source |
|---|---|---|---|---|
| 1 | Aliko Dangote | $11.5B | Nigeria | Cement, sugar |
| 2 | Mike Adenuga | $6.1B | Nigeria | Telecom, oil |
| 3 | Robert F. Smith | $5.2B | United States | Private equity |
| 4 | Abdulsamad Rabiu | $4.8B | Nigeria | Cement, sugar |
| 5 | David Steward | $3.7B | United States | IT provider |
| 6 | Patrice Motsepe | $3.1B | South Africa | Mining |
| 7 | Alexander Karp | $3.0B | United States | Software firm |
| 8 | Oprah Winfrey | $2.6B | United States | TV shows |
| 9 | Michael Jordan | $1.6B | United States | Charlotte Hornets, endorsements |
| 10 | Michael Lee-Chin | $1.5B | Canada | Mutual funds |
| 11 | Strive Masiyiwa | $1.4B | Zimbabwe | Telecom |
| 12 | Kanye West | $1.3B | United States | Music, sneakers |
| 13 | Mohammed Ibrahim | $1.1B | United Kingdom | Communications |
| 14 | Shawn Carter (Jay-Z) | $1.0B | United States | Music, multiple |
| 15 | Tyler Perry | $1.0B | United States | Movies, television |
Aliko Dangote is the richest Black billionaire, and has held the title since 2013. He owns 85% of publicly-traded Dangote Cement, Africa’s largest cement producer. The company’s stock price went up more than 30% over the last year. In addition, Dangote also has investments in salt and sugar manufacturing companies.
The fifth richest Black person, David Steward, owns the technology solutions provider World Wide Technology. Steward had decided he wanted to be part of the technological revolution and founded the company in 1990, before the first internet browser had even been created. The company has since grown to be the largest Black-owned business in America with over $13.4 billion in annual revenue and more than 7,000 employees.
Best known for his music career, Shawn Carter, more commonly known as Jay-Z, is number 14 on the list. However, the rapper’s wealth goes far beyond his music. Jay-Z has built a diversified business empire, including investments in a fine art collection, an entertainment company, a clothing line, and alcohol brands. He recently sold half of his champagne brand to LVMH, the parent company of Dom Pérignon.
Unequal Representation
Unfortunately, little progress has been made with regards to the proportion of Black billionaires. Since 2011, Black billionaires have made up fewer than 1% of all billionaires worldwide.
In absolute numbers, the total number of billionaires rose by over 1,100 while the number of Black billionaires rose by just nine people.
The number of Black billionaires also falls very short of being representative of the general population. For example, only 8 or 1.2% of America’s 665 billionaires are Black. By contrast, Black people make up 12.2% of the U.S. population.
Breaking Through Barriers
There is still a large racial wealth gap between Black people and White people—even at the highest levels of financial achievement. However, despite these racial and systemic barriers, 14 of the 15 Black billionaires are self-made, meaning they built their wealth from the ground up. Who will be next to join the ranks?
“Innovation doesn’t happen without a person of color or a diversity of thought being at the table in order to challenge the status quo.”
—David Steward
Debt
Visualizing $97 Trillion of Global Debt in 2023
Global debt has soared since the pandemic. Which countries have the biggest stockpile of debt outstanding in 2023?
Visualizing $97 Trillion of Government Debt in 2023
Global government debt is projected to hit $97.1 trillion this year, a 40% increase since 2019.
During the COVID-19 pandemic, governments introduced sweeping financial measures to support the job market and prevent a wave of bankruptcies. However, this has exposed vulnerabilities as higher interest rates are amplifying borrowing costs.
This graphic shows global debt by country in 2023, based on projections from the International Monetary Fund (IMF).
Debt by Country in 2023
Below, we rank countries by their general government gross debt, or the financial liabilities owed by each country:
| Country | Gross Debt (B) | % of World Total | Debt to GDP |
|---|---|---|---|
| 🇺🇸 U.S. | $33,228.9 | 34.2% | 123.3% |
| 🇨🇳 China | $14,691.7 | 15.1% | 83.0% |
| 🇯🇵 Japan | $10,797.2 | 11.1% | 255.2% |
| 🇬🇧 UK | $3,468.7 | 3.6% | 104.1% |
| 🇫🇷 France | $3,353.9 | 3.5% | 110.0% |
| 🇮🇹 Italy | $3,141.4 | 3.2% | 143.7% |
| 🇮🇳 India | $3,056.7 | 3.1% | 81.9% |
| 🇩🇪 Germany | $2,919.3 | 3.0% | 65.9% |
| 🇨🇦 Canada | $2,253.3 | 2.3% | 106.4% |
| 🇧🇷 Brazil | $1,873.7 | 1.9% | 88.1% |
| 🇪🇸 Spain | $1,697.5 | 1.7% | 107.3% |
| 🇲🇽 Mexico | $954.6 | 1.0% | 52.7% |
| 🇰🇷 South Korea | $928.1 | 1.0% | 54.3% |
| 🇦🇺 Australia | $875.9 | 0.9% | 51.9% |
| 🇸🇬 Singapore | $835.0 | 0.9% | 167.9% |
| 🇧🇪 Belgium | $665.2 | 0.7% | 106.0% |
| 🇦🇷 Argentina | $556.5 | 0.6% | 89.5% |
| 🇮🇩 Indonesia | $552.8 | 0.6% | 39.0% |
| 🇳🇱 Netherlands | $540.9 | 0.6% | 49.5% |
| 🇵🇱 Poland | $419.4 | 0.4% | 49.8% |
| 🇬🇷 Greece | $407.2 | 0.4% | 168.0% |
| 🇹🇷 Türkiye | $397.2 | 0.4% | 34.4% |
| 🇷🇺 Russia | $394.8 | 0.4% | 21.2% |
| 🇦🇹 Austria | $393.6 | 0.4% | 74.8% |
| 🇪🇬 Egypt | $369.3 | 0.4% | 92.7% |
| 🇨🇭 Switzerland | $357.7 | 0.4% | 39.5% |
| 🇹🇭 Thailand | $314.5 | 0.3% | 61.4% |
| 🇮🇱 Israel | $303.6 | 0.3% | 58.2% |
| 🇵🇹 Portugal | $299.4 | 0.3% | 108.3% |
| 🇲🇾 Malaysia | $288.3 | 0.3% | 66.9% |
| 🇿🇦 South Africa | $280.7 | 0.3% | 73.7% |
| 🇵🇰 Pakistan | $260.9 | 0.3% | 76.6% |
| 🇸🇦 Saudi Arabia | $257.7 | 0.3% | 24.1% |
| 🇮🇪 Ireland | $251.7 | 0.3% | 42.7% |
| 🇵🇭 Philippines | $250.9 | 0.3% | 57.6% |
| 🇫🇮 Finland | $225.0 | 0.2% | 73.6% |
| 🇳🇴 Norway | $204.5 | 0.2% | 37.4% |
| 🇨🇴 Colombia | $200.1 | 0.2% | 55.0% |
| 🇹🇼 Taiwan | $200.0 | 0.2% | 26.6% |
| 🇸🇪 Sweden | $192.9 | 0.2% | 32.3% |
| 🇷🇴 Romania | $178.7 | 0.2% | 51.0% |
| 🇧🇩 Bangladesh | $175.9 | 0.2% | 39.4% |
| 🇺🇦 Ukraine | $152.8 | 0.2% | 88.1% |
| 🇨🇿 Czech Republic | $152.2 | 0.2% | 45.4% |
| 🇳🇬 Nigeria | $151.3 | 0.2% | 38.8% |
| 🇦🇪 UAE | $149.7 | 0.2% | 29.4% |
| 🇻🇳 Vietnam | $147.3 | 0.2% | 34.0% |
| 🇭🇺 Hungary | $140.0 | 0.1% | 68.7% |
| 🇨🇱 Chile | $132.2 | 0.1% | 38.4% |
| 🇩🇰 Denmark | $126.7 | 0.1% | 30.1% |
| 🇮🇶 Iraq | $125.5 | 0.1% | 49.2% |
| 🇩🇿 Algeria | $123.5 | 0.1% | 55.1% |
| 🇳🇿 New Zealand | $115.0 | 0.1% | 46.1% |
| 🇮🇷 Iran | $112.1 | 0.1% | 30.6% |
| 🇲🇦 Morocco | $102.7 | 0.1% | 69.7% |
| 🇶🇦 Qatar | $97.5 | 0.1% | 41.4% |
| 🇵🇪 Peru | $89.7 | 0.1% | 33.9% |
| 🇦🇴 Angola | $79.6 | 0.1% | 84.9% |
| 🇰🇪 Kenya | $79.1 | 0.1% | 70.2% |
| 🇸🇰 Slovakia | $75.4 | 0.1% | 56.7% |
| 🇩🇴 Dominican Republic | $72.1 | 0.1% | 59.8% |
| 🇪🇨 Ecuador | $65.9 | 0.1% | 55.5% |
| 🇸🇩 Sudan | $65.5 | 0.1% | 256.0% |
| 🇬🇭 Ghana | $65.1 | 0.1% | 84.9% |
| 🇰🇿 Kazakhstan | $60.7 | 0.1% | 23.4% |
| 🇪🇹 Ethiopia | $59.0 | 0.1% | 37.9% |
| 🇧🇭 Bahrain | $54.5 | 0.1% | 121.2% |
| 🇨🇷 Costa Rica | $53.9 | 0.1% | 63.0% |
| 🇭🇷 Croatia | $51.2 | 0.1% | 63.8% |
| 🇺🇾 Uruguay | $47.0 | 0.0% | 61.6% |
| 🇯🇴 Jordan | $46.9 | 0.0% | 93.8% |
| 🇸🇮 Slovenia | $46.8 | 0.0% | 68.5% |
| 🇨🇮 Côte d'Ivoire | $45.1 | 0.0% | 56.8% |
| 🇵🇦 Panama | $43.5 | 0.0% | 52.8% |
| 🇲🇲 Myanmar | $43.0 | 0.0% | 57.5% |
| 🇴🇲 Oman | $41.4 | 0.0% | 38.2% |
| 🇹🇳 Tunisia | $39.9 | 0.0% | 77.8% |
| 🇷🇸 Serbia | $38.5 | 0.0% | 51.3% |
| 🇧🇴 Bolivia | $37.8 | 0.0% | 80.8% |
| 🇹🇿 Tanzania | $35.8 | 0.0% | 42.6% |
| 🇺🇿 Uzbekistan | $31.7 | 0.0% | 35.1% |
| 🇿🇼 Zimbabwe | $30.9 | 0.0% | 95.4% |
| 🇧🇾 Belarus | $30.4 | 0.0% | 44.1% |
| 🇬🇹 Guatemala | $29.1 | 0.0% | 28.3% |
| 🇱🇹 Lithuania | $28.7 | 0.0% | 36.1% |
| 🇸🇻 El Salvador | $25.8 | 0.0% | 73.0% |
| 🇺🇬 Uganda | $25.3 | 0.0% | 48.3% |
| 🇸🇳 Senegal | $25.2 | 0.0% | 81.0% |
| 🇨🇾 Cyprus | $25.2 | 0.0% | 78.6% |
| 🇱🇺 Luxembourg | $24.6 | 0.0% | 27.6% |
| 🇭🇰 Hong Kong SAR | $23.5 | 0.0% | 6.1% |
| 🇧🇬 Bulgaria | $21.7 | 0.0% | 21.0% |
| 🇨🇲 Cameroon | $20.6 | 0.0% | 41.9% |
| 🇲🇿 Mozambique | $19.7 | 0.0% | 89.7% |
| 🇵🇷 Puerto Rico | $19.6 | 0.0% | 16.7% |
| 🇳🇵 Nepal | $19.3 | 0.0% | 46.7% |
| 🇱🇻 Latvia | $18.9 | 0.0% | 40.6% |
| 🇮🇸 Iceland | $18.7 | 0.0% | 61.2% |
| 🇵🇾 Paraguay | $18.1 | 0.0% | 40.9% |
| 🇱🇦 Lao P.D.R. | $17.3 | 0.0% | 121.7% |
| 🇭🇳 Honduras | $15.7 | 0.0% | 46.3% |
| 🇵🇬 Papua New Guinea | $15.7 | 0.0% | 49.5% |
| 🇹🇹 Trinidad and Tobago | $14.6 | 0.0% | 52.5% |
| 🇦🇱 Albania | $14.5 | 0.0% | 62.9% |
| 🇨🇬 Republic of Congo | $14.1 | 0.0% | 97.8% |
| 🇦🇿 Azerbaijan | $14.1 | 0.0% | 18.2% |
| 🇾🇪 Yemen | $14.0 | 0.0% | 66.4% |
| 🇯🇲 Jamaica | $13.6 | 0.0% | 72.3% |
| 🇲🇳 Mongolia | $13.1 | 0.0% | 69.9% |
| 🇧🇫 Burkina Faso | $12.7 | 0.0% | 61.2% |
| 🇬🇦 Gabon | $12.5 | 0.0% | 64.9% |
| 🇬🇪 Georgia | $11.9 | 0.0% | 39.6% |
| 🇲🇺 Mauritius | $11.8 | 0.0% | 79.7% |
| 🇦🇲 Armenia | $11.8 | 0.0% | 47.9% |
| 🇧🇸 Bahamas | $11.7 | 0.0% | 84.2% |
| 🇲🇱 Mali | $11.0 | 0.0% | 51.8% |
| 🇲🇹 Malta | $11.0 | 0.0% | 54.1% |
| 🇰🇭 Cambodia | $10.9 | 0.0% | 35.3% |
| 🇧🇯 Benin | $10.6 | 0.0% | 53.0% |
| 🇲🇼 Malawi | $10.4 | 0.0% | 78.6% |
| 🇪🇪 Estonia | $9.0 | 0.0% | 21.6% |
| 🇨🇩 Democratic Republic of Congo | $9.0 | 0.0% | 13.3% |
| 🇷🇼 Rwanda | $8.8 | 0.0% | 63.3% |
| 🇳🇦 Namibia | $8.5 | 0.0% | 67.6% |
| 🇲🇬 Madagascar | $8.5 | 0.0% | 54.0% |
| 🇳🇪 Niger | $8.3 | 0.0% | 48.7% |
| 🇲🇰 North Macedonia | $8.2 | 0.0% | 51.6% |
| 🇧🇦 Bosnia and Herzegovina | $7.7 | 0.0% | 28.6% |
| 🇲🇻 Maldives | $7.7 | 0.0% | 110.3% |
| 🇬🇳 Guinea | $7.3 | 0.0% | 31.6% |
| 🇳🇮 Nicaragua | $7.2 | 0.0% | 41.5% |
| 🇧🇧 Barbados | $7.2 | 0.0% | 115.0% |
| 🇹🇬 Togo | $6.1 | 0.0% | 67.2% |
| 🇰🇬 Kyrgyz Republic | $6.0 | 0.0% | 47.0% |
| 🇲🇩 Moldova | $5.6 | 0.0% | 35.1% |
| 🇹🇩 Chad | $5.4 | 0.0% | 43.2% |
| 🇰🇼 Kuwait | $5.4 | 0.0% | 3.4% |
| 🇲🇷 Mauritania | $5.1 | 0.0% | 49.5% |
| 🇭🇹 Haiti | $5.1 | 0.0% | 19.6% |
| 🇬🇾 Guyana | $4.9 | 0.0% | 29.9% |
| 🇲🇪 Montenegro | $4.6 | 0.0% | 65.8% |
| 🇫🇯 Fiji | $4.6 | 0.0% | 83.6% |
| 🇹🇲 Turkmenistan | $4.2 | 0.0% | 5.1% |
| 🇹🇯 Tajikistan | $4.0 | 0.0% | 33.5% |
| 🇧🇼 Botswana | $3.9 | 0.0% | 18.7% |
| 🇬🇶 Equatorial Guinea | $3.8 | 0.0% | 38.3% |
| 🇸🇷 Suriname | $3.8 | 0.0% | 107.0% |
| 🇸🇸 South Sudan | $3.8 | 0.0% | 60.4% |
| 🇧🇹 Bhutan | $3.3 | 0.0% | 123.4% |
| 🇦🇼 Aruba | $3.2 | 0.0% | 82.9% |
| 🇸🇱 Sierra Leone | $3.1 | 0.0% | 88.9% |
| 🇨🇻 Cabo Verde | $2.9 | 0.0% | 113.1% |
| 🇧🇮 Burundi | $2.3 | 0.0% | 72.7% |
| 🇱🇷 Liberia | $2.3 | 0.0% | 52.3% |
| 🇽🇰 Kosovo | $2.2 | 0.0% | 21.3% |
| 🇸🇿 Eswatini | $2.0 | 0.0% | 42.4% |
| 🇧🇿 Belize | $1.9 | 0.0% | 59.3% |
| 🇱🇨 Saint Lucia | $1.8 | 0.0% | 74.2% |
| 🇬🇲 Gambia | $1.7 | 0.0% | 72.3% |
| 🇩🇯 Djibouti | $1.6 | 0.0% | 41.8% |
| 🇦🇬 Antigua and Barbuda | $1.6 | 0.0% | 80.5% |
| 🇸🇲 San Marino | $1.5 | 0.0% | 74.0% |
| 🇬🇼 Guinea-Bissau | $1.5 | 0.0% | 73.9% |
| 🇱🇸 Lesotho | $1.5 | 0.0% | 61.3% |
| 🇦🇩 Andorra | $1.4 | 0.0% | 37.7% |
| 🇨🇫 Central African Republic | $1.4 | 0.0% | 50.1% |
| 🇸🇨 Seychelles | $1.3 | 0.0% | 60.8% |
| 🇻🇨 Saint Vincent and the Grenadines | $0.9 | 0.0% | 86.2% |
| 🇬🇩 Grenada | $0.8 | 0.0% | 60.2% |
| 🇩🇲 Dominica | $0.7 | 0.0% | 93.9% |
| 🇰🇳 Saint Kitts and Nevis | $0.6 | 0.0% | 53.2% |
| 🇻🇺 Vanuatu | $0.5 | 0.0% | 46.8% |
| 🇰🇲 Comoros | $0.5 | 0.0% | 33.3% |
| 🇸🇹 São Tomé and Príncipe | $0.4 | 0.0% | 58.5% |
| 🇸🇧 Solomon Islands | $0.4 | 0.0% | 22.2% |
| 🇧🇳 Brunei Darussalam | $0.3 | 0.0% | 2.3% |
| 🇼🇸 Samoa | $0.3 | 0.0% | 36.2% |
| 🇹🇱 Timor-Leste | $0.3 | 0.0% | 16.4% |
| 🇵🇼 Palau | $0.2 | 0.0% | 85.4% |
| 🇹🇴 Tonga | $0.2 | 0.0% | 41.1% |
| 🇫🇲 Micronesia | $0.1 | 0.0% | 12.5% |
| 🇲🇭 Marshall Islands | $0.1 | 0.0% | 18.1% |
| 🇳🇷 Nauru | <$0.1 | 0.0% | 29.1% |
| 🇰🇮 Kiribati | <$0.1 | 0.0% | 13.1% |
| 🇹🇻 Tuvalu | <$0.1 | 0.0% | 8.0% |
| 🇲🇴 Macao SAR | <$0.1 | 0.0% | 0.0% |
| 🌐 World | $97,129.8 | 100% | 93.0% |
With $33.2 trillion in government debt, the U.S. makes up over a third of the world total.
Given the increasing debt load, the cost of servicing this debt now accounts for 20% of government spending. It is projected to reach $1 trillion by 2028, surpassing the total spent on defense.
The world’s third-biggest economy, Japan, has one of the highest debt to GDP ratios, at 255%. Over the last two decades, its national debt has far exceeded 100% of its GDP, driven by an aging population and social security expenses.
In 2023, Egypt faces steep borrowing costs, with 40% of revenues going towards debt repayments. It has the highest debt on the continent.
Like Egypt, several emerging economies are facing strain. Lebanon has been in default since 2020, and Ghana defaulted on the majority of its external debt—debt owed to foreign lenders—in 2022 amid a deepening economic crisis.
Global Debt: A Regional Perspective
How does debt compare on a regional level in 2023?
| Region | Gross Debt (B) | % of World Total | Debt to GDP |
|---|---|---|---|
| North America | $36,451.8 | 37.5% | 117.6% |
| Asia and Pacific | $34,257.4 | 35.3% | 92.5% |
| Europe | $20,123.4 | 20.7% | 79.1% |
| South America | $3,164.9 | 3.3% | 77.2% |
| Africa | $1,863.6 | 1.9% | 65.2% |
| Other/Rest of World | $1,269.1 | 1.3% | 31.4% |
We can see that North America has both the highest debt and debt to GDP compared to other regions. Just as U.S. debt has ballooned, so has Canada’s—ranking as the 10th-highest globally in government debt outstanding.
Across Asia and the Pacific, debt levels hover close to North America.
At 3.3% of the global total, South America has $3.2 trillion in debt. As inflation has trended downwards, a handful of governments have already begun cutting interest rates. Overall, public debt levels are projected to stay elevated across the region.
Debt levels have also risen rapidly in Africa, with an average 40% of public debt held in foreign currencies—leaving it exposed to exchange rate fluctuations. Another challenge is that interest rates are also higher across the region compared to advanced economies, increasing debt-servicing costs.
By 2028, the IMF projects that global public debt will exceed 100% of GDP, hitting levels only seen during the pandemic.
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