Top 10 American Black Billionaires (plus Up & Coming) - Who’s’ New for 2021? #BlackExcellist

[Music] hello and welcome back in this black excellus presentation we will highlight America's black billionaires in 2021 welcome to Black excellence.com the site where we share black Excellence opulence and affluence our mission is to inspire you as we Enlighten you Forbes latest list of the world's richest people includes business savvy Titans of Finance media and fashion who make up an even rarer Club African-American billionaires but while their success looms large the small number of African-Americans among the 2755 members of the global billionaires Club also highlights a racial wealth Gap that can have significant consequences for those with far fewer resources from the ability to buy a home to being able to go to college without becoming mired in debt we want to take some time to commemorate these fascinating entrepreneurs in our annual black billionaire video and I think you will be excited to see who may have been added and who may have been dropped in this original black exus video we are excited to bring you our current and soon to be black billionaires so without further Ado let's get started number 10 Dr Dre Andre Young net worth $820 million Andre young better known as Dr Dre is an American rapper songwriter record producer and entrepreneur the Compton California Native is the founder and CEO of aftermath entertainment and Beats electronics and was previously co-owner of Death Row Records Dr Dre is considered to be one of the best hip-hop producers of all time after his meteoric rise in the 1980s as a member of rap group NWA he climbed to the top of the music industry by working with all of the superstars of hip hop and R&B but he would also carve out his own Legacy by producing music for the likes of Snoop Dogg Eminem 50 Cent and Kendrick Lamar as young started to expand his Empire outside of the record producing area in 2006 he would partner with record executive and co-founder of inner scope records Jimmy iven to form Beats by Dre the high-end headphones brand would introduce portable and wireless speakers co-branded smartphones and a new streaming music service to the music world and its fans in six years Dr Dre and ivine would turn Beats by Dre into A1 billion plus business thanks to lightning fast marketing celebrity endorsements and an unbeatable grasp of Pop Culture there was a hungry Market of demanding consumers who wanted to enhance their music listening experience far beyond what a $1 earbud could offer the time for them to cash out would come in the year 2014 they would sell their gold mine to Apple for a whopping $3.2 billion Dr Dre's stake would be $700 million becoming Dre's biggest and most prolific Cash Cow between Dr Dre's massively successful music career and one of the most lucrative investments in the new Millennia he's knocking at the door of the short list of African-American millionaires but we'll see if he stays there after his impending divorce is settled number nine Sheila Johnson net worth $820 million Sheila Crump Johnson is an American businesswoman and co-founder of Black Entertainment Television the mainstream's go-to cable channel for urban culture although her net worth has since decreased Johnson was the first African-American woman to attain a net worth of at least $1 billion when Forbes named her to their 2001 billionaire list yes she beat Oprah to the punch born in Pennsylvania to George P Crump a neurosurgeon and Marie Iris Crump an accountant Johnson grew up to graduate from Proviso East High School in Chicago she later attended the University of Illinois obtaining a ba degree in music her focused mindset was instrumental in helping her founding one of the few cable networks that cater to Black audiences at after 33 years Sheila and Bob sold their conglomeration to Viacom for $3 billion in stock and assumed debt Sheila and Bob would part ways and Johnson made her entrance into real estate and the hospitality industry in 2002 she's currently CEO of Salamander hospitality a company that she founded in 2005 which includes Holdings of luxury resorts spas and golf clubs salamander hotels and resorts in Virginia proved to be a challenging Enterprise for Johnson to create as she battled a combination of regulatory issues an economic downturn and protest from the town but she was determined to make it work Johnson then went on to expand her personal business portfolio that also consisted of investing in Planes real estate and horses as an accomplished violinist co-founder of a popular cable network co-owner of professional sports franchises CEO of a chain of hotels and resorts Johnson is an example and role model for many who wish to follow in her footsteps across different Industries her contributions and achievements have earned her the right to call herself a self-made woman meanwhile Sheila is a dedicated activist for social justice since 2006 she's been serving as a global Ambassador for care a humanitarian organization fighting against poverty that she has donated more than $4 million number eight Diddy Sean comes net worth $900 million the American rapper singer record producer entrepreneur and designer is one of the highest paid and richest celebrities in the world the 51-year-old music mobile and lifestyle curator is best known for his record label Bad Boy Entertainment his solo musical career and other multi-million dollar entrepreneurial Pursuits Diddy earns money from music royalties Partnerships and sponsorships and his investments in Brands like sarak VOD and delion Tequila between 2000 and 2020 Diddy earned well over1 billion from his majorly lucrative business Empire he's not quite a billionaire yet but we want to give him an honorable mention since he's likely just a deal away from hitting this incredible Milestone Shan JN Colmes was born in Harlem New York City in 1969 he was raised in Mount Vernon New York after his father was shot to death while sitting in his car only when comes was just too years old Diddy's mother worked four jobs to support the family which pushed Diddy to embrace his entrepreneurial spirit and Chas the American dream after leaving College in his sophomore year Diddy managed to get an internship at New York's Uptown records he was then offered a job as a talent director while working at Uptown records he helped develop some of the biggest artists in the industry like jodic and Mary J blig in 1993 Diddy was fired from Uptown d driving him to start his own label Bad Boy Entertainment a joint venture with aista records the young aggressive executive went on to sign hipop and R&B Superstars like the notorious b. Usher and Mary J blig Diddy would go on to release his own solo debut album which became certified seven times platinum and debuted number one on the Billboards while releasing commercially and critically successful music comes would celebrate Three Grammy Awards and a established himself as one of the Cash Kings of Hip Hop his immense wealth is the culmination of entrepreneurial Endeavors centered around his clothing lines fragrances restaurants vodka bottled water a marketing agency and his own TV Network Revolt which has access to more than 50 million viewers and can be watched worldwide but Diddy also takes time to pay it forward in 2016 Diddy opened a charter school in Harlem New York City his multiple business accomplishments helped Define his success but his school and his multiple charity initiatives through the Colmes Foundation rank at the top of his achievements number seven Tyler Perry net worth $1 billion born emit Perry Jr on September 13th 1969 in New Orleans Louisiana Tyler Perry has forged a highly successful path in the entertainment industry one of four children he experienced a very difficult childhood suffering years of physical abuse both inside and outside of his home his hardships pushed him to attempt suicide and drop out of high school although he eventually passed a high school equivalency exam after he heard television personality Oprah Winfrey suggest that writing down personal experiences could be cathartic a young Perry began to keep a journal which evolved into his first play I know I've Been Changed Perry's Second Stage production a 1999 adaptation of woman thou art loosed by TD Jake grossed an astounding $5 million in just 5 months Perry started to find his voice his trademark character media was created in his 2000 play I Can Do Bad All By Myself the brutally honest rambunctious gun toting grandmother was played by Perry and drag and became a recurring figure in the majority of his later plays media was instrumental in his string of success built on his distinct blend of traditional theater Church backdrops and African-American Southern entertainment all that had been largely untapped by larger commercial Enterprises today the multi-talented actor and producer continues his reign as one of the most affluent and thriving directors in the game and flexed his muscles with the opening of Tyler Perry Studios in 2019 the 330 acre lot in Atlanta Georgia was transformed from an army base into a major Motion Picture Studio one of the largest production facilities in the country his acts of kindness and generosity are multifaceted as he's donated millions of dollars in hundreds of hours to worthy causes and organizations since 2006 the Perry foundation's Mission has been to transform tragedy into Triumph by seeding individual potential supporting communities and harvesting sustainable change one of his favorite Charities is the NAACP where he has donated Millions to fight racial discrimination he also strongly supports Charities that focus on helping the homeless such as feeding America and Hosea Feed the Hungry Tyler Perry was formerly listed on the Forbes billionaire list for the first time in 2021 number six JZ sha Carter net worth $1.4 billion born and raised in New York City Jay-Z began his musical career after founding the record label Rockefeller records in 1995 he has gone on to release 133 critically acclaimed albums that have sold over 50 million records and 75 million singles sold worldwide after winning a total of 22 Grammy Awards and holding the record for the most number one albums by a solo artist Jay-Z has arguably established himself as the greatest entertainer in hip-hop history the rapper turn Mogul has earned his fortune not only through a rapping career that has spanned nearly three decades but but also through very successful business and entrepreneurial Endeavors after retirement Jay-Z has accumulated a fortune that conservatively totals $1 billion making him the first hip-hop artist to do so Jay-Z has been spending money wisely for years pouring a good portion of his $760 million estimated lifetime earnings into Investments his Holdings include stakes in Uber and now Square as well as in private companies like salad chain sweet green Insurance startup ethos SpaceX and his next likely Big Win oat milk company Oatley earlier this year Jay-Z announced he was selling half of his champagne company also known as ASA Spades that was valued at 640 million Jay-Z's $150 million joint venture with Live Nation in 2008 established a full service Entertainment Company serving some of the biggest names in the business a partnership with liquor Giant bardi helped Jay-Z launched his own conac brand in 2012 Jay-Z's library of nearly 300 songs is worth $20 million more now than it was 2 years ago and thanks to a series of smart negotiations he owns both the publishing rights and master recordings to his music his diverse and growing business not only includes a chunk of his own music but he and his wife Beyonce have a very expensive and impressive art collection that featured the works of the likes of Jean Michelle Basia not to mention the power couple has invested in real estate by picking up mansions in Tribeca belir and East Hampton today Jay-Z is trying to build a movement to change the world through his Shan Carter foundation and countless other philanthropic Ventures his Evolution has been a complicated but inspirational one that embodies all of the dimensions that every rapper aspires for commercially culturally and creatively number five Michael Jordan net worth 1.6 6 billion Michael Jordan made less than $100 million as the NBA's greatest player of all time but that hasn't stopped him from becoming a billionaire with an estimated net worth of $1.6 billion he is one of the most celebrated figures in popular culture and is almost universally regarded as the greatest basketball player of all time he played 15 seasons in the NBA winning six championships with the Chicago Bulls he was one of the most effec effectively marketed athletes of his generation and is considered the most key factor in popularizing the NBA around the world in the 1980s and 90s since he retired in 2003 he has built the most successful and lucrative career that the world has ever seen from a former athlete Jordan is the world's first athlete billionaire Michael Jordan is a self-made billionaire because he landed multiple million dollar endorsement deals with Nike Gatorade Hayes and other corporate Partnerships the popularity of Air Jordans continues to rise and have seen a resurge in recent years thanks to celebrity Partnerships who connect to a younger audience while releasing new versions of retro styles to reconnect with the older fans in 2010 he purchased the Charlotte Hornets for $175 million which helped him hit billionaire status when the NBA franchise's value skyrocketed just a few years after Jordan's AC quisition the team is now worth more than $1.5 billion and Jordan owns 97% of the franchise on top of that he's reportedly making $100 million a year from Nike royalties alone in 2019 Jordan's net worth was increasing at a rate of $34,000 an hour last fall Jordan donated $2 million of his earnings from his docu series The Last Dance defeating America's food banks and Chicago and the Carolinas Jordan and Nike's Jordan brand pledged to donate $100 million over 10 years to organizations fighting for racial equality social justice and greater access to education the announcement came in June amid Nationwide black lives matter protest over the killing of George Floyd number four Kanye West net worth $1.8 billion rapper and fashion designer Kanye West gained widespread Fame upon the release of his 2004 album The College Dropout today he is one of the most successful and awarded musicians on the planet with 21 Grammy wins Wes began experimenting with music at an early age and even received a scholarship to attend the American Academy of Art in 1997 he transferred to Chicago State University to study English but eventually dropped out at the age of 20 to pursue his music career after dropping out of college Wes began making beats for local artists while he honed his own style his production credits include Jay-Z Beyonce John Legend Alicia Keys and Janet Jackson to name a few Wes would eventually evolve from music producer to rapper to hipop Icon and go on to sell millions of Records earn platinum plaqu and reached number one on the billboard chart however the majority of West Fortune came not from his music but from his Footwear and apparel brand Yeezy this is a multi-million dollar partnership with aidas that was officially announced in December of 2013 but the Yeezy brand is a complicated asset Wes owns 100% of it but it's functionally tied to Adidas which produces markets and distributes the shoes there's also a separate apparel division which he owns 100% outright Forbes has studied West agreement with Adidas which calls for him to receive a royalty around 15% of Yeezy revenue from Adidas at that rate he would have received royalties of over $140 million from Yeezy sales last year alone his philanthropic Ventures include the Kanye West Foundation which benefits disadvantaged minorities and he also devotes significant time and money towards disaster relief number three Oprah Winfrey net worth $2.7 billion Oprah Winfrey is an American Media executive television producer and former talk show host who is best known for the Oprah Winfrey Show which was the highest rated television program of its kind her show ran in National syndication for 25 years from 1986 to 2011 and helped her earn the title queen of all media Oprah is North America's first and only black multibillionaire and is also ranked as the greatest black black philanthropist in American history Oprah Winfrey's First Media job was at a radio station for the African-American community in Nashville making her the first black female news anchor in the city after a few short gigs Winfrey moved to Chicago where she revamped a morning show that was struggling in 1985 the program was renamed the Oprah Winfree show Oprah would enjoy a string of successes as she transitioned her hit talk show into into a media and business Empire in 2011 she launched her cable channel own the Oprah Winfrey Network she continues to blaze her own path by starting her own production companies such as Harpo Productions while expanding her success in the media World writing numerous best-selling books acting in blockbuster movies and producing critically acclaimed films to prove that she has the mightest touch her $43 million investment into Weight Watchers is now worth more than $400 million through her Angel Network Winfrey has given millions of dollars to charitable causes including building schools in rural areas across the globe like her Oprah Winfrey Leadership Academy for Girls which has changed the trajectory for so many disadvantaged girls in South Africa as of 2020 Oprah Winfrey wears the crown as the richest black woman in the world Oprah has landed on several Forbes list over over the years including Forbes power list America's self-made female billionaires list and their powerful people list number two David Stewart net worth $3.9 billion David Steward is an American businessman who is the chairman and founder of worldwide technology one of the largest african-american-owned businesses in the United States after graduating from college in 1973 St Steward worked as a production manager and a successful sales representative for FedEx he always had an entrepreneurial Spirit but it wasn't until 1981 that he hit a turning point he was named salesperson of the year and FedEx presented him with an ice bucket with engraved initials when Stuart looked inside and realized it was empty it became a defining moment for Stuart who decided to step away a few years later in 1990 Steward founded wwt a systems integrator that focus on the implementation of enterprise-wide Imaging conversion services and Telecommunications networks the company serves not only Corporate America but also federal state and local governments once the company started to win government contracts as a minority-owned small business the order started rolling in from Big budgeted Federal customers private sector business transactions also started to heat up as companies rushed to install computers printers and other Telecom equipment in 1999 wwt spun off its telecommunications division to form Telco by.com Sals for the two companies excelled and in 2013 their combined revenue passed a whopping $1 billion Steward's tenacity and business savvy would help wwt Revenue surpass an astounding $ 11 billion by the year 2018 the company now has more than 40 Fortune 100 companies as customers and has over 3,000 employees across 20 offices across the globe Stuart has served on a plethora of committees and boards around Missouri and the Greater St Louis area he has received multiple citizenship Awards and has donated millions of dollars to the United Way of St Louis Stewart has been the recipient of numerous accolades and a Awards including company and entrepreneur of the Year from Black Enterprise as well as the Horatio alra award for distinguished Americans in 2014 number one Robert Smith net worth $6 billion topping off our list of America's black billionaires We Salute Robert F Smith as a high school student Smith secured an internship at Bell Labs after calling the company every week for 5 months after an intern from MIT didn't show up he was accepted as an intern he went on to earn a chemical engineer degree from Cornell University in 1985 in engineering training he worked at craft Foods in goodye Tire before getting his NBA at Columbia University Smith would work on Wall Street accepting a position in the tumultuous world of investment banking at Goldman Sachs from 1994 to 2000 Smith would eventually leave Goldman Sachs to to launch his own private Equity Firm Vista Equity Partners in 2000 The Firm focuses exclusively on investing in Silicon Valley's least known software and technology companies with over $50 billion in assets Vista is one of the best performing private Equity firms in the nation posting annualized returns of 22% for the past 20 years Smith's intelligence business strategies and work ethic has won him praise from his corate peers and earned him billions on Wall Street he and his company have a knack for finding Elite Talent that can be attributed to his unconventional hiring strategies Vista leverages a personality test developed by IBM that not only takes into account your social and technical skills but it also measures an applicants interest in arts and humanities in 2016 Smith donated $20 million to help support the national museum of African-American history in Washington DC moreover Smith signed on as a member of the giving pledge founded by Bill Gates and Warren Buffett and has promised to invest half of his net worth during his lifetime to causes that support the equality of African-Americans and causes that will ensure a livable planet for future Generations furthermore during a commencement speech at a historically black college in Atlanta Georgia Smith made it an extra happy graduation day for the 400 Morehouse College graduates when he vowed to wipe out all of the student debt for the entire 2019 graduating class he later extended the gift to cover the educational debt amass by their parents as well boss we appreciate the fact that you stayed with us until the end thank you for spending time with us and don't forget to like this video also make sure you subscribe so that you never miss a video bye for now we will see you tomorrow

Channel: Black Excellence Excellist

Views: 1,428,546

Keywords: black, excellist, african, american, african american, education, black excellence, top10, black history, diddy, jayz, beyonce, hbcu, black college, dr dre, sheila johnson, kanye west, tyler perry, david steward, robert smith, oprah winfrey, michael jordan

Id: SgikNSYjh-s

Length: 26min 4sec (1564 seconds)

Published: Sun May 02 2021