There are about 330 million people in the United States. Of those, 607 are billionaires. Of those, only five are black.
Becoming a billionaire is obviously not easy, but it’s more difficult for minorities.
As Business Insider points out, website McKinsey reported the median white family was $152,000 wealthier than its black counterpart in 2016. During that period, the median wealth of white families grew by more than $50,000, McKinsey reported, but the median wealth of black families stayed the same.
The racial divide can be seen worldwide. In 2019, only 13 of the world’s 2,153 billionaires were black.
» Forbes: These are the world's 13 black billionaires in 2019
Here’s a look at the United States’ five black billionaires.
5. Jay-Z: $1 billion
Welcome to the club, Shawn Carter — aka Jay-Z. His On the Run II, his stadium tour with wife Beyoncé grossed roughly $5 million per night, pulling in more than $250 million. He became hip-hop's first billionaire thanks to an empire that includes liquor, art, real estate and stakes in companies like Uber.
» Forbes: These are the richest rappers of 2019
4. Michael Jordan: $1.9 billion
NBA great Jordan, whose playing salary totaled $90 million but he has earned another $1.4 billion (pre-tax) from corporate partners.still has sponsorship deals with Hanes, Gatorade and Upper Deck 15 years after retiring from basketball.
Credit: HYOSUB SHIN / AJC
Credit: HYOSUB SHIN / AJC
3. Oprah Winfrey: $2.7 billion
In addition to the media, entertainment and business empire she’s built, Winfrey owns shares in Weight Watchers and has a partnership with Apple. She has donated nearly half a billion dollars to charities throughout her career, including more than $100 million to the Oprah Winfrey Leadership Academy for Girls in South Africa.
» Oprah Winfrey focuses on wellness, grief at Atlanta appearance
2. David Steward: $3.5 billion
Steward is co-founder and chairman of World Wide Technology, an $11.2 billion (sales) IT provider whose customers include Citi, Verizon and the federal government. In the early days, Steward sometimes went without a paycheck and once watched his car get repossessed from the office parking lot.
1. Robert Smith: $5 billion
The third American on the list, Smith made his fortune through the private equity firm, Vista Equity Partners, he founded in 2000. A graduate of Cornell, he pledged $50 million (personally and through a foundation) to the university in 2016.
» Robert Smith pays off Morehouse Class of 2019's student loans
» Before Morehouse gift, Smith donated money to buy MLK birth home
» Forbes: These are the cities where African Americans are doing the best economically
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