Yahoo Lifestyle 8 Black Celebrities Who Are Full-Blown Billionaires (Yep, Billion With A B)
Only about 1% of the nearly 3,000 billionaires in the world are Black. While we all have our feelings about billionaires, it's still nothing short of monumental that multiple Black people have achieved the status. It's a feat that many of our ancestors couldn't even fathom as a possibility.
So, here are eight Black celebrities who have, against all odds, achieved billionaire status:
1.Jay-Z: $2.5 Billion
Jay Z became the first hip-hop billionaire back in 2019, and since then, he's more than doubled his wealth to an astounding $2.5 billion. He has not only earned the title of one of the greatest rappers of all time but also an incredible businessman.
Jay came out of the gate in a business mindset. He started Roc-A-Fella Records back in 1995 after not being able to land a record deal from any major labels. After he released his first album, his career catapulted to unreal heights through the late '90s and early 2000s.
In a genius deal, he eventually gained ownership of the publishing rights and master recordings of his music catalog, which has a worth of an estimated $95 million according to Forbes in 2021.
As a businessman, Jay Z has found an abundance of wealth in the creation and selling of his late '90s/early 2000s clothing brand Rocawear and a series of other ventures that include but aren't limited to buying and selling a stake in the Brooklyn Nets, creating and selling his streaming service Tidal, his extensive work in the liquor business that included a stake deal worth $750 million, and of course his $200 million deal with Live Nation (which includes his entertainment label, Roc Nation).
2.Rihanna: $1.4 Billion
Since starting her music career back in 2005, Rihanna has created an undeniable brand across music and fashion. Rihanna is now worth $1.4 billion and is one of the very few women who grace the list of Black billionaires.
Most of the fortune Rihanna has gained comes from the 50% stake in her Fenty Beauty cosmetics brand, which she splits with the infamous luxury retailer Louis Vuitton-Moët Hennessy (LVMH). Back in 2021, Forbes estimated that Fenty Beauty was worth an unbelievable $2.8 billion.
Rihanna also has an estimated 28% stake in her lingerie brand, Savage X Fenty, which as of 2021, Forbes estimated was worth about $270 million. Even though we haven't (musically) heard from her since Anti back in 2016, she also continues to make money from her music and acting career.
3.LeBron James: $1.2 Billion
LeBron is the first active NBA player to become a billionaire; according to Forbes, he reached the elite status back in 2022. Now he's worth a solid $1.2 billion. LeBron started his NBA basketball career back in 2003 when he was the first overall pick and draft for the Cleveland Cavaliers. Since then, the money he's made on the court between Cleveland, Miami, and Los Angeles is only the start of his fortune.
CBS noted back in 2022 that most of his money comes from cash and investments. He had a stake in Beats by Dre, which was eventually sold to Apple for $3 billion. He also has shares in Beachbody, the company that acquired his sports nutrition business that he co-founded with Arnold Schwarzenegger.
Another venture LeBron is involved in is The SpringHill Company, an entertainment development and production company he founded. SpringHill includes LeBron's marketing company and entertainment company. In 2021, he sold a stake in the company to investors when the company was then valued at $725 million. LBJ is reportedly the largest single shareholder.
Other ventures that contributed to his fortune include a 1% stake in Fenway Sports Group, $80 million worth of real estate, his estimated $30 million cut of Blaze pizza, and of course, his lifetime Nike deal valued at $1 billion.
4.Michael Jordan: $3.5 Billion
Making about $94 million over the course of his 15 NBA seasons, Michael Jordan now looks at a fortune of $3.5 billion. Michael became the first professional athlete to become a billionaire back in 2014 thanks to his various corporate deals, endorsements, and business ventures.
Known to many as one of, if not the greatest, basketball player of all time, off the court Michael made about $2.4 billion from deals with brands like McDonald's, Gatorade, Nike, and Hanes. According to Forbes, his yearly Nike royalty check was about $260 million in 2023.
Back in August 2023, Michael sold his majority stake in the Charlotte Hornets NBA team for a whopping $3 billion. Michael also dabbled in various business ventures with other sports teams, restaurants, car dealerships, etc. Recently, his love for NASCAR has created a new venture. He co-founded 23XI Racing, a NASCAR Cup Series team with driver Denny Hamlin, and actively continues to be involved in a host of other partnerships.
5.Oprah Winfrey: $3 Billion
Becoming a billionaire back in 2003, Oprah is well known for her hit daytime talk show, The Oprah Winfrey Show, which ran from 1986 to 2011. Over the years, Oprah Winfrey has created a business and media empire that has amassed her a fortune of $3 billion. Before her talk show ended, Oprah's yearly salary had reached $315 million, but that wasn't all that aided in building her $3 billion fortune.
Oprah launched her television network OWN in 2011, and by 2019, she had earned a substantial amount of her $37 million intake for the year from the network alone. She also has a production company, Harpo Productions, which produced films like the 2023's The Color Purple.
With a real estate portfolio that clocks in at an estimated $150 million, her own magazine, several best-selling books that made it to the New York Times list, a massive investment in Weight Watchers, appearance and interview fees that would make your jaw drop, and a plethora of additional business ventures, it's inspiring (and very clear) how she turned a daytime talk show from the '80s into the empire she has today.
6.Tyler Perry: $1.4 Billion
Director, writer, producer, and actor Tyler Perry has made a fortune of $1.4 billion. Widely known for creating and acting as the "Madea" persona for his plays and films, Tyler's Madea movies have made an unbelievable $660 million profit. He also owns 100% of his content dating back to the '90s, which puts a hefty amount in his pocket.
In 2017, Tyler signed a contract with ViacomCBS (the parent company of BET) to produce exclusive and original content for the BET network. The company reportedly pays him about $150 million a year and provides him with a 25% equity stake in the streaming service BET+, which Forbes estimates added about $60 million to his net worth.
Along with additional partnerships and deals, Tyler's creative work and business mindset when it comes to film and TV has created an unfathomable fortune. To top it all off, he also owns a 300-acre production studio called Tyler Perry Studios that's estimated to be worth about $280 million. He's also another major real estate investor with a multimillion-dollar portfolio that includes properties all over the country.
7.Tiger Woods: $1.3 Billion
Since going pro in 1996, golfer Tiger Woods has earned about $1.8 billion over the course of his career. In 2022, he became a certified billionaire, making him the second active athlete to achieve this status, after LeBron James. Through his massive golf earnings over the years, endorsement deals, and business ventures, he now has a net worth of $1.3 billion.
According to Forbes, less than 10% of Tiger's net worth comes from golf winnings. The majority of his fortune comes from mega endorsement deals he's done throughout his career. Working with brands like Gatorade, Rolex, Monster Energy, and his biggest backer, Nike, has created this billion-dollar fortune.
He's also found himself expanding into golf design and live events while also acquiring numerous stakes in luxury golf brands and tech companies. Recently, he became an investor in NEXUS Luxury Collection, a real estate and hospitality company, alongside Justin Timberlake and others.
8.Earvin "Magic" Johnson: $1.6 Billion
NBA legend and entrepreneur Magic Johnson was named a billionaire by Forbes in October 2023, and he's now sporting a hefty net worth of $1.6 billion. Unlike other athletes on this list, his salary and endorsements didn't gain him hundreds of millions during his career. During his time with the Los Angeles Lakers, he only earned about $40 million and had endorsements totaling between $2 and $4 million per year.
As the fourth professional athlete to become a billionaire, Magic found his fortune in an outstanding post-basketball career. He acquired stakes in many professional sports teams, like the Washington Commanders and three separate Los Angeles teams, and that's only a part of his work.
Magic also has investments across multiple industries, including his largest cash flow, the EquiTrust insurance company, in which he holds a 60% stake. The insurance company amasses an annual revenue of roughly $2.6 billion. Between launching a chain of movie theaters, deals with Starbucks, and a minority stake in a PepsiCo bottling plant, having a hand across many massive deals and investments has clearly paid off.
Any surprises about who made the list and who didn't? Let me know your thoughts down in the comments!
Check out more Black-centered content by exploring how BuzzFeed is celebrating Black History Month this year! Of course, the content doesn't end after February. Follow BuzzFeed’s Cocoa Butter on Instagram, TikTok, and YouTube to keep up with our latest Black culture content year-round.
