According to the 2025 World Billionaires List, despite the growing number of billionaires worldwide, black billionaires remain unusual, accounting for just 0.8% of the world’s wealthiest individuals.
Of the $302.8 billion worldwide, Forbes reports that only 23 are black, with a total wealth of $96.2 billion. The list features business tycoons from finance, energy and technology, highlighting the sustainable wealth gap in global economics.
“These 23 are wealthy and impressive bundles,” the report says, highlighting how black billionaires have built their fortunes in a variety of industries despite their economic and systematic challenges.
Of the 23 black billionaires appointed by Forbes, six are Nigerians, reinforcing the country’s strong presence in the African business and investment environment.
Top of the Nigerian list is Aliko Dangote, chairman of Dangote Group. Dangote remains the wealthiest man in Africa and is above the list of black billionaires with a net worth of $23.9 billion. His fortune has skyrocketed at $10.5 billion over the past year. This is primarily due to the start of operations at the Dangote refinery in early 2024.
The closest thing to do is Mike Adenuga, 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.
Bua Group founder Abdulsamad Rabiu is number six 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 grew after BlackRock acquired a $12.5 billion GIP in October 2024.
Geregu Power Chairman Femi Otedola ranks 12th in a net worth of $1.5 billion. He first built his fortune in his merchandise before shifting his focus to the energy sector in Nigeria.
The last Nigerian of the World’s Black Billionaire 2025 lists Calendarley founder Istope Awotona, and ranks 14th in a net worth of $1.4 billion. His scheduling software startup, launched in 2013, was worth $3 billion in 2021 by private investors.
