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Richest
black Americans (2008).
| Name |
Net
worth |
Source
of wealth |
Age |
About |
| Oprah
Winfrey |
$2.7
billion |
Harpo
Productions, Chicago |
55 |
The
Oprah brand continues to hold its value despite the recession,
as viewers tune in for money-saving tips, celebrity interviews
and relationship advice. Rural Mississippi native worked the
television news circuit in Nashville, Tenn., and Baltimore,
Md. Transformed faltering Chicago morning program into popular
talk show. Launched The Oprah Winfrey Show nationally in 1986;
now airs in 144 countries, brings in 44 million U.S. viewers
each week. Her Harpo Productions helped create the Dr. Phil
and Rachael Ray shows; Dr. Oz show due out this fall. Media
matriarch planning to launch Oprah Winfrey Network early next
year. Foundation recently donated to schools in Newark, N.J.,
and Atlanta. |
| Tiger
Woods |
$600
million |
Golf,
endorsements, Orlando, Fla. |
33 |
Golf
prodigy showed off his putting skills on The Mike Douglas
Show at age 2, has dominated the links ever since. Left Stanford
University after two years at age 20 in 1996 to turn pro.
Has since won 66 PGA tournaments, including 14 major championships.
Now hunting Jack Nicklaus' record of 18 major career wins.
Named PGA Player of the Year nine times. Total career winnings:
$84 million. Intensely marketable; annual on-course winnings
represent less than 15% of his income. Lucrative sponsorship
contracts from Nike, Gatorade, Gillette, Accenture, AT&T
and others earn him at least $100 million each year. Returned
to competitive golf in February after rehabbing knee injury
for eight months. Dramatically won the Arnold Palmer Invitational
by one shot a few weeks later. Rare comment in 1995 on his
ethnic background: "The various media have portrayed
me as African-American and Asian. I am both." |
| Robert
Johnson |
$550
million |
BET,
investments, West Palm Beach, Fla. |
63 |
Former
billionaire's fortune has fallen from peak as recession hammered
media and hotel markets. Founded cable channel Black Entertainment
Television in 1979 with $15,000 of his own money and a $500,000
investment by cable king John Malone's Tele-Communications
Inc. Became the first African-American billionaire in 2000
by selling BET to Viacom for $3 billion in stock and assumed
debt. Former wife and BET co-founder, Sheila Johnson, took
big chunk of fortune in 2002 divorce. Shares of Viacom down
50% since last May, CBS off 70%. Formed RLJ Companies: hotels,
casino games, banks, NBA's Charlotte Bobcats. Pledged to raise
$30 million investment fund for Liberia; opening of $8 million
Kendeja Resort slated for early summer. |
| Michael
Jordan |
$525
million |
Basketball,
Nike, endorsements, Chicago |
46 |
Arguably
the greatest basketball player ever. Led the NBA's Chicago
Bulls to six world championships during the 1990s. Left basketball
for stint as a minor league baseball player after third NBA
championship in 1993; returned to the Bulls two years later.
Retired again 1999; took ownership stake and executive job
with the Washington Wizards. Returned to the court in 2001;
signed 2-year contract with Wizards. Total points scored:
32,292, ranking him third all-time. Released Air Jordan basketball
sneaker with Nike in 1984. The Jordan brand brings in hundreds
of millions of dollars each year in sales for Nike; royalty
checks from that provide the bulk of former star's income
today. Other lucrative deals throughout career: Gatorade,
Hanes, Upper Deck. Owns stake in Robert Johnson's Charlotte
Bobcats; runs team's basketball operations. Son Jeffrey plays
basketball at the University of Illinois, younger son Marcus
recently signed letter of commitment to play for University
of Central Florida next fall. |
| Earvin
"Magic" Johnson, Jr. |
$500
million |
Restaurants,
real estate, investments, Beverly Hills, Calif. |
49 |
Grew
up in Lansing, Mich., with nine brothers and sisters. Father
worked at General Motors plant; mother was school custodian.
Played at Michigan State; won national championship in 1979
in one of many legendary matchups against Larry Bird. Led
Los Angeles Lakers to five world championships; 13-year career
in NBA included three MVP awards, 12 NBA All-Star games, a
gold medal at the 1992 Barcelona Olympics and induction into
the Naismith Memorial Basketball Hall of Fame. Retired from
NBA after announcing he had contracted HIV, became an entrepreneur.
Introduced well-known brands to ethnically diverse neighborhoods
via Magic Johnson Enterprises. Today has partnerships with
Starbucks, 24 Hour Fitness, T.G.I. Fridays, AMC Theatres.
Also invests in urban real estate and companies catering to
America's underserved markets via his Canyon-Johnson and Yucaipa-Johnson
funds. Has awarded more than $1.1 million to community-based
organizations that focus on HIV/AIDS education and prevention. |
| William
Henry Cosby, Jr. |
$450
million |
The
Cosby Show, entertainment, Massachusetts |
71 |
Legendary
comedian born in Philadelphia. Left high school in 10th grade;
finished via correspondence course while in the Navy. Broke
a long-standing racial barrier when he was cast as an equal
to a white actor on NBC's "I Spy" in the 1960s;
role as Alexander Scott garnered him three Emmy Awards. Left
TV for stand-up comedy. Returned to the small screen 1984;
launched The Cosby Show on NBC, propelling the network to
first place. Iconic show about an upper-middle-class black
family living in New York has made him hundreds of millions
in pay and syndication dollars. Best-selling book Fatherhood
sold 4 million copies. Today spends time doing stand-up on
the road. With wife, Camille, donated $20 million in 1988
to Spelman College in Atlanta. Continues to support education,
various social service and civil rights organizations. Jazz
enthusiast also built collection of 400 works of African-American
art dating from the 18th through the 20th century. Awarded
Presidential Medal of Freedom in 2002 in recognition of his
contributions to American culture. Net worth probably higher. |
| Sheila
Johnson |
$400
million |
BET,
investments, The Plains, Va. |
|
Doctor's
daughter and violinist co-founded Black Entertainment Television
with former husband Robert Johnson; couple met in college
at University of Illinois. Duo sold network to Viacom for
$3 billion in stock and assumed debt; split fortune in divorce
in 2002 after 33-year marriage. Today she is chief executive
of Salamander LLC, which controls a portfolio of luxury resorts.
Through investment in Lincoln Holdings, owns stake in NHL's
Washington Capitals, NBA's Washington Wizards, and WNBA's
Washington Mystics. Johnson is the Mystics' president and
managing partner. |
| R.
Donahue Peebles |
$350
million |
Real
estate, Coral Gables, Fla. |
49 |
Grandson
of a hotel doorman. Owns one of the country's largest African-American
real estate development companies; Peebles Corporation's portfolio
includes hotels, apartments and office space in Miami Beach
and Washington, D.C. "Don" left Rutgers University
in 1979 to become a real estate agent in the District of Columbia.
Worked on Capitol Hill as a page and an intern for congressmen
John Conyers and Ron Dellums while attending Capitol Page
School. Today owns 13 acres of prime Las Vegas land behind
Steve Wynn's Encore casino; slated for redevelopment. Also
owns pricey land in Southern California. Authored two books,
The Peebles Principles and The Peebles Path to Real Estate
Wealth. |
| Berry
Gordy, Jr. |
$325
million |
Motown,
Jobete, Los Angeles |
79 |
Music
pioneer put away his boxing gloves for songwriting at age
20. Borrowed $800 from parents to build his own record label.
Created Motown Records in Detroit. Wrote hit songs ("Lonely
Teardrops," "I'll be Satisfied"), managed talent
(Jackson 5, The Supremes, Smokey Robinson, Lionel Richie,
Stevie Wonder). Known for running Motown's record production
like an assembly line, emulating Detroit's Big Three car companies;
fought numerous lawsuits brought by recording artists and
songwriters alleging unpaid royalties throughout career. Sold
Motown Records in 1988 for $61 million; later sold Jobete
Music Corp. in installments to EMI Music Publishing for more
than $300 million combined. Hit movie Dreamgirls said to be
loosely based on Motown; Paramount Pictures and Dreamworks
issued an apology to Gordy in 2007 for any confusion the fictional
story might have caused regarding Motown's legacy. |
| Quintin
Primo III |
$300
million |
Real
estate, Chicago |
55 |
Minister's
son grew up in Chicago. Played keyboard, trumpet in college
jam band. Harvard University MBA 1979. First finance gig in
Citicorp's real estate lending division. Founded Capri Capital
in 1992 with childhood friend Daryl Carter. Early successes
extending mezzanine loans to small borrowers that larger firms
didn't bother to serve. Today portfolio dominated by apartment
complexes but projects are diverse: three years ago paid $136
million for Baldwin Hills Crenshaw Plaza shopping mall in
southern Los Angeles. Carter left in 2007, Primo stayed on
as chairman and chief executive. Assets under management are
now $4.3 billion. Announced $2 billion Saudi venture last
June; will build hotels, office towers, condos in one of King
Abdullah's anointed "economic zones." Also plans
to invest $1 billion in distressed assets, half-built construction
projects in U.S. with financing from U.S. Treasury. |
| Don
King |
$290
million |
Boxing
promotion, Manalapan, Fla. |
77 |
"Only
in America." Loud-talking, flag-waving King ascended
from a troubled past in Cleveland to become the biggest promoter
in boxing. Accused of killing two men; 1954 case ruled a justifiable
homicide, 1966 case ruled manslaughter. Spent nearly four
years in prison. Entered boxing business while doing fundraising
work in 1972 for a struggling Cleveland hospital. Asked Muhammad
Ali to attend charity event. Later convinced Ali and George
Foreman to let him promote their 1974 heavyweight championship
bout. The "Rumble in the Jungle" in Zaire is remembered
as one of the greatest fights of all time. Biggest success:
boxing badboy Mike Tyson. Orchestrated heavyweight's comeback
in 1995 after the former champ's three-year prison term for
rape; landed Tyson a $70 million deal to fight six bouts at
the MGM Grand in Las Vegas. King personally pocketed $15 million
in MGM stock; shares quickly doubled in value, King sold.
Promoted Tyson and Evander Holyfield's infamous 1997 bout;
fight grossed $110 million. Tyson sued King a year later for
$100 million accusing King of cheating him out of earnings;
settled for $14 million. Can still be seen at fights donning
his signature hairstyle while waving an American flag as he
supports his fighters. |
| Janice
Bryant Howroyd & family |
$250
million |
Staffing,
investments, Palos Verdes, Calif. |
56 |
Fourth
of 11 children; father was a foreman at a dye factory, mother
stayed home to raise the kids. Janice took job as an assistant
at Billboard Magazine; left to start staffing firm Act-1 in
1978 with $967 in savings and $533 in loans from family. Built
up client base via word of mouth, cold calls. Today the employment
services agency generates annual revenues approaching $1 billion.
Donated $10 million to her alma mater, North Carolina Agricultural
& Technical State University, in 2004; gave another $10
million to University of Southern California in 2005. |
| Herman
J. Russell |
$200
million |
Construction,
real estate, Atlanta |
78 |
Real
estate and construction tycoon learned the building business
at an early age; father was a plastering contractor on construction
projects. Herman bought a vacant Atlanta lot at age 16; built
first property, a duplex. Founded contractor H.J. Russell
Plastering Co. in 1953; later renamed H.J. Russell & Co.
Helped build Georgia Dome and Turner Field. Annual sales approach
$300 million. Family business: son Michael is chief executive,
son Jerome is president. Also owns Concessions International;
outfit provides food and beverage services to airports. Daughter
Donata Russell-Major is vice chair. Largest owner of HUD-related
properties in Georgia. Once owned stakes in pro basketball's
Atlanta Hawks and hockey's Atlanta Flames. Now retired from
day-to-day management; focused on philanthropy. |
| Ulysses
Bridgeman, Jr. |
$200
million |
Restaurants,
Louisville, Ky. |
55 |
Former
shooting guard for the Milwaukee Bucks turned his athletic
grit into a sprawling fast food empire. Raised in East Chicago,
Ind.; father was a steelworker. "Junior" was picked
in first round of the 1975 NBA draft by the Los Angeles Lakers;
promptly traded to the Bucks with three others for Kareem
Abdul-Jabbar. Went on to rack up 11,517 career points, franchise
record for most games played. Retired 1987. Bought five Wendy's
franchises to generate income while planning his next career.
Today controls 161 Wendy's and 118 Chili's restaurants. Total
payroll: 11,000 managers, cashiers and cooks. Sales of holding
company Manna Inc. in 2008: $530 million. Sits on board of
PGA. Also owns small stake in Milwaukee soda bottler Black
Bear Beverages |
| Tracy
Maitland |
$150
million |
Investments,
New York City |
48 |
Bronx
native attended Columbia University, nabbed job in convertible
securities department at Merrill Lynch in 1982. Spent more
than a decade learning "convertibles" (bonds that
can be converted into stock at the holder's discretion). Launched
investment outfit Advent Capital in 1996. Today Advent manages
$3.3 billion across hedge funds and mutual funds. Offices
in New York and London. Firm's hedge funds have lost money
in only two years since inception: 2005 and 2008. Jazz enthusiast
owns 2,000 vintage records. |
| Alphonse
Fletcher, Jr. |
$150
million |
Investments,
New York City |
43 |
Father
was a technician, mother was an elementary school principal.
"Buddy" majored in applied math at Harvard University,
enrolled in ROTC. Sought fortune on Wall Street while serving
10-year stint in Air Force reserves. Joined financial firm
Kidder, Peabody. Personally generated $25 million in profits
one year; firm allegedly refused to pay promised 25% trading
commission. Left to start investment outfit Fletcher Asset
Management in 1991. Average annual returns said to have topped
100% in first five years of operation. Owns hundreds of acres
of land in Cornwall, Conn. In 2004 pledged $50 million with
affiliates to fund programs and support individuals who promote
racial equality. |
| Shawn
"Jay-Z" Carter |
$150
million
Now
$450 million (Yr 2010)
|
Entertainment,
investments, New York City |
39 |
Born
in the Marcy Projects in Brooklyn's Bedford-Stuyvesant neighborhood;
nickname "Jazzy" evolved into "Jay-Z."
Began career rhyming on a street corner. Has sold more than
25 million units and won seven Grammy Awards. Biggest hits
include "Guilty Until Proven Innocent," "Hard
Knock Life." Tied Elvis Presley for most number one albums
by solo performer with release of American Gangster in 2007.
Became chief executive of Russell Simmons' Def Jam Records
in 2004, left three years later. Co-owns New York sports bar
40/40 Club; also has stake in pro basketball's New Jersey
Nets. With partners, sold Rocawear clothing label to Iconix
for $204 million two years ago. Wife, singer Beyonce Knowles,
has an estimated net worth of $115 million, making her a near
miss for the Wealthiest Black Americans list. |
| Kobe
Bryant |
$140
million |
Basketball,
endorsements, Newport Beach, Calif. |
30 |
Son
of former pro basketball player Joe "Jellybean"
Bryant skipped college ball; jumped straight from high school
to the NBA at age 17 in 1996. Drafted by the Los Angeles Lakers;
parents had to co-sign contract. Now is one of the game's
premier players; 11-time All-Star and league's 2008 MVP has
won three world championships with the Lakers. Endorsement
deals pad earnings. Nike launched Zoom Kobe IV earlier this
year; company's "lightest basketball shoe ever."
Centerpiece of director Spike Lee's latest documentary; crew
of "Kobe Doin' Work" used 30 cameras to capture
the player's every move during a game last year. Film will
air on ESPN in May 2009. Owns a stake in Olimpia Milano, an
Italian basketball team his father once played for. |
| Shaquille
O'Neal |
$130
million |
Basketball,
endorsements, Phoenix |
37 |
Son
of an army drill sergeant born and raised in Louisiana; claims
father's strict discipline prepared him for anything. Played
three years for Louisiana State University, drafted first
in the 1992 NBA draft by the Orlando Magic. Signed $41 million
contract for seven years: largest rookie contract in history
of sports at the time. "Shaq" went on to win championships
with the Los Angeles Lakers, Miami Heat; winding down his
career with the Phoenix Suns. Was named NBA All-Star for the
15th time in Feb.; has scored 27,619 points. Affable big man
endorses 24-Hour Fitness, Icy Hot, VitaminWater; sneaker sales
from his Shaq and Dunkman lines bring in extra cash. Real
estate investments include 150 car washes, plus commercial
properties in California, Florida and New Jersey. |
| Kenneth
Chenault |
$125
million |
Chief
executive of American Express |
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Kenneth
Chenault, chief executive of American Express ( AXP - news
- people ), rounds out the group. Chenault attended Harvard
Law and held posts as a consultant and a lawyer before joining
Amex in 1981. He became the company's chief executive in 2001.
The company's shares are down nearly 50% in the past 12 months
as profits shrink, delinquencies rise and cardholders throttle
back spending. |
| Sean
(Diddy) Combes |
$475
million
(Yr
2010)
|
Hip-hop,
Fashion, Cosmetics |
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| Dr
Dre |
£125
million |
Producer,
Hip-Hop |
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| Russell
Simmons |
$110
million |
Def
Jam founder |
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| Birdman |
$100
million |
Hip-hop,
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| 50
Cent |
$100
million |
Hip-hop,
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