06:02 pm
22 October 2016

9 of The World’s 11 Black Billionaires Are African. Here They Are

Of the 1,826 people who made it to the 2015 Forbes list of the world’s billionaires, 11 are black, and nine are African by birth or by where they made their fortunes.

That’s an increase from nine black billionaires a year ago, Forbes reports.

Three of the 11 black Forbes List billionaires are women, and two of the three women are African. The third is a U.S. citizen with heavy interests in South Africa.

This year, two new billionaires joined the ranks of the richest black people on Earth — one U.S. citizen and one Nigerian.

Nigeria is the clear standout when it comes to billionaires. Almost half the wealthiest blacks on the planet are Nigerian.

Check out our list. Of the world’s 11 black billionaires, 9 are African.

11. Abdulsamad Rabiu, $1 billion Nigerian, Cement, Sugar

Rabiu founded BUA Group, a Nigerian conglomerate of shipping, manufacturing, oil and gas, sugar refineries, cement production, real estate, steel and port concessions. The group has annual revenues in excess of $2 billion. Abdulsamad started out working for his father, Isyaku Rabiu, a successful businessman in Northern Nigeria before striking out on his own. In 1988, he started importing steel and iron, edible oils, sugar and rice.