3 Nigerian Billionaires Make the List of Top 10 Richest Black People in The World in 2024

• Three Nigerians have made the list of the top 10 richest black people globally, with Dangote toppled from the list
• Forbes recently unveiled the list, which includes Jay Z, Oprah Winfrey, and Zimbabwe’s Strive Masiyiwa
• The network of black billionaires reflects the global financial system as fortunes rise and fall due to market dynamics

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Forbes has named three Nigerian billionaires among the top richest black people in 2024.

The list contains the richest people globally, including Oprah Winfrey, musician Jay Z, and other high-net-worth black people of African descent.

Dangote loses position to another billionaire

Despite having robust natural resources, many African economies are still battling development due to inadequate infrastructure, bad governance, and overreliance on borrowing.

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Many black people have risen above the cycle of poverty and emerged as the race’s wealthiest.

Dangote, a multi-billionaire with stakes in oil, cement, sugar, and other sectors, is ranked as the second richest black person on earth.

Market dynamics affect black billionaires

Zimbabwe’s Strive Masiyiwa drives tech growth in Africa by investing in telecommunication networks connecting millions of Africans.

The network of black billionaires reflects the global financial system, as fortunes rise and fall due to market dynamics, reflecting changes in the economy, market, and company growth.

David Steward, co-founder of the World Wide Technology (WWT), recently overthrew Nigeria’s Aliko Dangote to emerge as the wealthiest black person on earth.

Billionaire Femi Otedola grows wealth by $200 million

Legit.ng earlier reported that billionaire Femi Otedola has seen his net worth rise by $200 million in just 12 days, demonstrating his persistent resistance to the depreciation of the Nigerian currency.

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The recent development increased his wealth to $1.6 billion and solidified his standing as one of Africa's wealthiest and most powerful businessmen.

According to Forbes data, the third-richest Nigerian Exchange Group (NGX) investor, Otedola, increased his net worth from $1.4 billion on September 26, 2024, to $1.6 billion. According to Forbes data, the third-richest Nigerian Exchange Group (NGX) investor, Otedola, increased his net worth from $1.4 billion on September 26, 2024, to $1.6 billion.

Source: Legit.ng