The Stories Behind 44 Black Millionaires and Moguls

The Stories Behind 44 Black Millionaires and Moguls


April 28, 2025 | Alex Summers

The Stories Behind 44 Black Millionaires and Moguls


Legacy In Motion

One started with a borrowed desk, another with a notebook full of ideas. The settings were different, but the drive was unmistakable. These Black Americans built what they needed and turned hustle into heritage.

Regina King attends the 93rd Annual Academy Awards at Union Station on April 25, 2021

Advertisement

Oprah Winfrey

In Mississippi, she started small. But Oprah flipped a talk show into full ownership. The content and network were all hers. She invested in Weight Watchers and let her influence speak louder than ads.

Advertisement

It was about never being at someone else's table.

MeltdownsWikimedia.Commons

Advertisement

Kerry Washington

Kerry Washington turned her screen fame into a launchpad. She founded Simpson Street to tell inclusive stories like Confirmation. Off-screen, she’s collaborated with Aurate and invested in Spill and Cheersy, platforms that support women and representation beyond what Hollywood typically funds.

Kerry Washington at the Annual Producers Guild Awards wearing a black dress with her left hand on the hip, smilings_bukley, Shutterstock

Advertisement

Michael Jordan

After his championship days, MJ leaned into the business world with the same sharp instincts he showed on the court. He kept the Jordan Brand soaring and bought into the Hornets.

Advertisement

Besides that, he also quietly stacked tech investments to prove ownership had always been part of the plan.

Michael Jordan in 2006 pressNikeush, CC BY-SA 4.0, Wikimedia Commons

Advertisement

Ludacris

Ludacris rose in hip-hop with albums like Word of Mouf and Chicken-n-Beer, but his empire didn’t stop there. He opened Chicken + Beer at Atlanta’s airport and co-owns Conjure Cognac. Besides that, he’s a licensed pilot with tech investments on deck and also launched Soul headphones. 

Ludacris - Monster Jam, October 25, 2005Adam J. Sablich, Shutterstock

Advertisement

Jay-Z

It started on street corners with CDs and a vision bigger than the block.

Advertisement

Jay-Z turned Roc-A-Fella into a movement, then branched out to champagne labels and startup equity. The music opened doors, but the business kept them wide open.

Jay-Z performs with The Roots on Scott Gries,Getty Images

Advertisement

Tyler Perry

When the calls went unanswered, he kept going anyway, determined to make his vision real. Tyler Perry wrote his scripts, directed the plays, produced them with his own money, and toured them across cities to build his audience from the ground up.

Advertisement

Today, his studio puts him in complete control.

Tyler Perry at the Hollywood Walk of Fame Star Ceremony honoring Dr Phil McGraw - 2020Featureflash Photo Agency, Shutterstock

Advertisement

Rihanna

She started with chart-topping hits, but Rihanna saw something missing in the beauty aisle. So, she launched Fenty, a beauty line designed to match every shade and face that had long been overlooked in the industry. By teaming up with LVMH, she built a brand that pushed the industry forward.

rihanna-gettyGetty Images

Advertisement

LeBron James

LeBron made headlines for buzzer-beaters, and he's doing the same with business.

Advertisement

He co-founded SpringHill Company and launched a public school in Akron. Each move connects back to a bigger mission, which involves creating lasting opportunities for his community.

Antonio Brown factsWikimedia Commons

Advertisement

Kanye West

At his peak, Yeezy was on shelves and across social feeds. Kanye leveraged Adidas deals and sharp branding to generate billions. His music opened the door, but his real power came from turning cultural moments into long-term financial wins.

Kanye West in a gray shirtLiam Goodner, Shutterstock

Advertisement

Tiger Woods

Tiger's trophy shelf filled up fast, and while the world focused on his swing, he was quietly building something more significant.

Advertisement

He started designing golf courses and launched TGR Ventures. Each decision is built toward a long-term legacy, not just another win.

Tiger Woods wearing black suitTim Hipps, Wikimedia Commons

Advertisement

Magic Johnson

When Magic's playing days ended, his focus shifted, but the drive stayed. He moved into real estate and secured part-ownership of the Dodgers. Each move was a way to redirect resources and create access where it was long denied.

Magic Johnson At Sxsw 2022Daniel Benavides, CC BY 2.0, Wikimedia Commons

Advertisement

Diddy (Sean Combs)

He built Bad Boy Records from scratch, signing artists like Notorious B I G and Faith Evans.

Advertisement

Diddy later launched Sean John clothing and acquired Revolt TV. Every step combined business savvy with cultural influence, and the returns were massive.

File:Diddy Dirty Money.jpgShamsuddin Muhammad from Fort Hood, TX, USA, Wikimedia Commons

Advertisement

Serena Williams

The trophies are just part of her legacy. Serena invested early in over 60 startups through Serena Ventures, many of which are led by women and people of color. She turned her dominance on the court into a platform for equity and long-term wealth.

American tennis player Serena Williams during a Press conference in DohaDoha Stadium Plus Qatar, Flickr

Advertisement

Beyonce

Her deals rarely make noise, but when they move, the markets listen.

Advertisement

Beyonce backed brands 

like WTRMLN WTR and Lemon Perfect and built Ivy Park with Adidas. These moves revealed that each step was part of a bigger plan, wrapped in silence but aimed for impact.

Beyonce arrives to the 2013 Grammy Awards on February 10, 2013DFree, Shutterstock

Advertisement

Shaquille O'Neal

Shaq carried the dominant mindset from the court into the business world. He invested in brands like Five Guys and Papa John's, picking companies he genuinely enjoys. By sticking to what he knows and trusts, he turned his larger-than-life personality into serious entrepreneurial wins.

Advertisement

Luxury Hotel Secrets FactsShutterstock

Advertisement

Dr Dre

Before Apple ever came calling, Dre was already mixing music with business. Beats by Dre blended great sound with a cultural moment that resonated everywhere. When he sold it for $3 billion, Dre handed it over and passed along a symbol of cultural identity.

Kendrick Lamar factsShutterstock

Advertisement

Robert F Smith

Robert F Smith keeps a low profile, but the impact is impossible to ignore. He built Vista Equity Partners into a multi-billion-dollar firm specializing in enterprise software.

Advertisement

In 2019, he paid off student loans for an entire Morehouse graduating class to prove that quiet moves can shake entire systems.

Robert F Smithusbotschaftberlin, Wikimedia Commons

Advertisement

Daymond John

Before Shark Tank, he stitched hats in Queens and turned FUBU into a $6 billion brand. Its name, For Us By Us, spoke to Black pride and ownership. Today, Daymond John helps others scale their dreams like he built his from the ground up.

File:Daymond john.jpg4hourworkweek, Wikimedia Commons

Advertisement

Janice Bryant Howroyd

With just $900, she launched ActOne Group, the first Black woman-owned billion-dollar business.

Advertisement

Focused on global staffing and diversity hiring, Howroyd reshaped the industry. Her firm provides staffing services to Fortune 500 companies across multiple continents, and she's been a strong advocate for equitable hiring.

Janice Bryant HowroydJanice Bryant Howroyd Opens Up About Her Billion-Dollar Business Acumen - On The 7 With Dr. Sean by FOX Soul

Advertisement

Michael Lee-Chin

Born in Jamaica and raised by a single mom, Michael Lee-Chin studied civil engineering but found gold in mutual funds. With Portland Holdings, he turned a $400,000 investment into billions. His path proves that timing and vision can flip an entire future.

Advertisement

Michael Lee-ChinBillionaire Michael Lee-Chin shares tips for investing in nuclear power by BNN Bloomberg

Advertisement

Dave Steward

Often left out of mainstream business headlines, Dave Steward quietly built World Wide Technology into a $17 billion powerhouse. He started with seven employees and a borrowed table. Today, his tech solutions serve Fortune 100 giants, and he still keeps it humble.

Dave StewardDAVID STEWARD - Millionaire Power Moves by A. Donahue Baker (CPA)

Advertisement

Keke Palmer

Keke Palmer started young before the camera but didn't stop there. She launched KeyTV to spotlight diverse creators. She uses KeyTV to develop and fund original digital series created by emerging Black and Brown storytellers, which gives them both visibility and a stake in the content they produce.

Advertisement

Keke Palmer at San Diego Comic ConGage Skidmore, Flickr

Advertisement

Marques Brownlee

Today, Marques Brownlee runs one of the most trusted tech media brands online, backed by a custom-built studio and significant sponsorships. It all began with sharp reviews that stood out for their clarity and quality. Funny enough, he started with just a webcam in his bedroom.

File:Collision 2023 - Centre Stage - Marques Brownlee - RCZ 9285 (53006838065).jpgRamsey Cardy/Collision via Sportsfile - Collision Conf, Wikimedia Commons

Advertisement

Issa Rae

Issa Rae launched her career with a web series that sparked a movement. She built on that success with hit shows and partnered with Hilltop Coffee + Kitchen to amplify underrepresented talent across entertainment and everyday community spaces.

Advertisement

Issa Rae FactsShutterstock

Advertisement

Lizzo

Before the Grammy wins, Lizzo had a vision bigger than music. She launched Yitty, a shapewear brand celebrating all body types, and closed content deals to expand her reach. Her empire runs on confidence and business instincts that hit just as hard as her vocals.

Lizzo factsGetty Images

Advertisement

Rashida Jones

Rashida Jones keeps switching lanes—and winning. She and writing partner Will McCormack were briefly attached to Toy Story 4 but exited early due to creative differences. She’s produced documentaries on race and justice and lent her voice to podcasting, including appearances on Off Camera with Sam Jones.

Portrait Photo of Rashida Jones at the 2017 Miami International Film FestivalMiamiFilmFestival, Wikimedia Commons

Advertisement

Ava DuVernay

Hollywood didn't give her a seat, so Ava built the table.

Advertisement

Through ARRAY, she distributes stories that rarely get greenlit. With projects like 

When They See Us, she proved that storytelling is a blend of art and influence. And hers is shifting the whole industry.

Ava DuVernayMariemaye, CC BY 3.0, Wikimedia Commons

Advertisement

Ciara

Ciara’s story didn’t stop at the mic. With The House of LR&C, she turned fashion into a purpose-driven mission. Then came Ten To One Rum, which proved her instincts hit just right.

Advertisement

Every move she makes echoes past the music by building a brand with staying power.

File:Russell Wilson and Ciara 2019 (Cropped - Ciara).pngDrug Enforcement Administration, Wikimedia Commons

Advertisement

Steve Harvey

Steve Harvey turned jokes into a business model. After building success on TV and radio, he branched into tech startups and wellness brands with Harvey Ventures. He shares his playbook with young entrepreneurs through his global business summit while quietly expanding his influence across multiple industries.

Steve Harvey at a ceremony to receive a star on the Hollywood Walk of FameAngela George, CC BY-SA 3.0, Wikimedia Commons

Advertisement

Anthony Joshua

He has partnered with Under Armour and Lucozade and built a management company from the ground up.

Advertisement

Anthony Joshua's business game reflects the same sharp focus he brings to boxing, a strategy crafted for resilience and long-term wins.

File:Anthony Joshua 2017.pngJumeirah, Wikimedia Commons

Advertisement

Venus Williams

Venus Williams is crafting a business legacy grounded in purpose and ambition. EleVen channels her commitment to movement and style. Happy Viking brings her wellness philosophy to everyday routines. Her role with the Miami Dolphins signals a long-term vision to prove that each step is part of a broader strategy.

Advertisement

Grand Slam Champion Venus Williams in pink outfitLeonard Zhukovsky, Shutterstock

Advertisement

Barack Obama

With his wife, Michelle, Barack Obama signed a Netflix deal and launched Higher Ground Productions to tell stories that matter. These projects gave Barack Obama a new kind of influence shaped through storytelling. After leaving office, he stepped into a spotlight of his own making.

Official photographic portrait of US President Barack Obama in a dark suitPete Souza, CC BY 3.0, Wikimedia Commons

Advertisement

Michelle Obama

Michelle Obama's influence continues to evolve beyond expectations. Her memoir soared to the top, becoming essential reading worldwide. She stays dedicated to compelling storytelling with Higher Ground, while her podcast consistently sparks meaningful dialogue.

Advertisement

Everything she does blends personal authenticity with global resonance.

Michelle ObamaGage Skidmore, Flickr

Advertisement

Naomi Osaka

She co-founded Hana Kuma to amplify diverse stories and invested in wellness and skincare brands that align with her principles. Naomi Osaka's off-court presence mirrors her game of focus and intention. In industries still catching up, she's moving clearly and building a brand on her terms.

File:Naomi Osaka (15307217997).jpgTatiana from Moscow, Russia, Wikimedia Commons

Advertisement

Gabrielle Union

Gabrielle Union is building something more significant. Her product lines, like Flawless for textured hair and Proudly for baby care, fill gaps that the mainstream often ignores.

Advertisement

The advocacy has turned practical to prove that impact can come in a bottle or a bold idea.

American actress Gabrielle UnionLGEPR, CC BY 2.0, Wikimedia Commons

Advertisement

Travis Scott

His deals with McDonald's and Epic Games sparked more than basic brand visibility as they morphed into cultural events. Travis Scott used his influence to fuse music and gaming in ways that sparked viral moments. What started as a collab strategy turned into a blueprint for brand-building power.

Travis Scott FactsWikimedia Commons

Advertisement

Nicki Minaj

Nicki Minaj is breaking records and also building an enterprise.

Advertisement

She started her Heavy On It label in 2023 and joined MaximBet as a creative director and investor. She has also collaborated with brands like Fendi and MAC Cosmetics to prove she's just as savvy off the mic.

Nicki Minaj at the Barbie World Premiere at the Shrine Auditorium on July 9, 2023 in Los Angeles, CAKathy Hutchins, Shutterstock

Advertisement

Chadwick Boseman

Even after his passing, Chadwick Boseman’s legacy keeps giving. His groundbreaking role in Black Panther made him a global icon. Netflix honored him with a $5.4 million scholarship endowment at Howard University, supported by his wife, Simone.

Advertisement

His influence continues to open doors for young artists.

Chadwick Boseman posing for a photoSachyn, CC BY-SA 3.0, Wikimedia Commons

Advertisement

Regina King

Regina King plays every role with purpose, from actor to director to producer. She crafted award-winning films and shows through Royal Ties, landing Netflix deals. Her behind-the-camera work is calculated by amplifying the stories Hollywood often overlooks.

File:Regina King, May 2013 (cropped).jpgPeabody Awards, Wikimedia Commons

Advertisement

Pharrell Williams

He created Humanrace, a skincare brand built on inclusive wellness, and collaborated with Adidas and Louis Vuitton to shape iconic designs.

Advertisement

Pharrell's music opened doors, but his ability to scale creativity across industries makes Billionaire Boys Club feel like just the start.

Issa Rae FactsShutterstock

Advertisement

Queen Latifah

Queen Latifah laid the foundation for multifaceted success. She launched Flavor Unit Entertainment to produce film and TV projects and has partnered with major brands like CoverGirl and Curaleaf. As one of the first female rappers to secure mainstream deals, she turned visibility into long-term equity and kept building.

Advertisement

File:Queen Latifah at Kennedy Center Honors Dinner (53374125172).jpgU.S. Department of State, Wikimedia Commons

Advertisement

Viola Davis

Through JuVee Productions, Viola Davis produces bold stories like The Woman King and Giving Voice, pushing narratives that rarely get greenlit. Her EGOT status, capped by an Oscar for Fences, gives her leverage. She's not just starring anymore; she's shaping what gets made, who makes it, and why.

portrait image of Viola DavisDFree, Shutterstock

Advertisement

LeVar Burton

LeVar Burton is hosting the new Trivial Pursuit game show on The CW to add another chapter to his storytelling legacy. He co-founded LeVar Burton Entertainment and brought Reading Rainbow to life for generations.

Advertisement

His audiobook narration continues to uplift stories with a voice audiences trust.

LeVar Burton at Galaxy Con Richmond in 2020Super Festivals, CC BY 2.0, Wikimedia Commons

Advertisement

Marsai Martin

With Genius Entertainment, Marsai Martin pushes stories centered on Black joy and fresh perspectives. At just 14, she became Hollywood's youngest executive producer with the film Little. Her brand blends bold ideas with sharp business sense despite her young age. 

Regina King attends the 93rd Annual Academy Awards at Union Station on April 25, 2021The White House, Wikimedia Commons

Advertisement

READ MORE

10 Hidden Expenses That Are Draining Your Wallet Every Month

Even the most careful budgeters can end up wondering where their money went at the end of the month. Very often it's the small, recurring expenses that quietly add up over time.
May 6, 2025 Miles Brucker

10 Money Habits Of People Who Retire Before 40

Retiring at 40 isn't a pipe dream, and you don't have to be a tech genius, Wall Street bro, or pro athlete to do it. But you have to follow the habits of those who've done it before.
April 15, 2025 Penelope Singh
corporateinternal

10 Shocking Corporate Meltdowns

Major corporations seem so stable. That's why shocking corporate meltdowns are so compelling. Here are 10 of the worst ever.
June 14, 2023 Eul Basa
Signs You're Broke Internal

10 Signs You're Broke

Discover the 10 unmistakable signs that you might be facing financial difficulties. From living paycheck to paycheck to avoiding bills, this article delves into the indicators of being broke and offers insights into understanding and assessing your financial health.
October 4, 2023 Sammy Tran

10 Simple Tricks to Save on Your Water Bill

Explore ten straightforward and effective ways to significantly cut your water bill, each supported by savings statistics, and gain insights into common water-wasting habits and the cost structure of water bills. This guide offers practical advice on water conservation, helping households to be more water-efficient and financially savvy.
September 29, 2023 Allison Robertson

10 Vintage Sports Cards That Are Worth a Fortune Today

Explore the lucrative world of vintage sports cards with a deep dive into 10 cards that have skyrocketed in value over the years. From baseball legends to basketball icons, uncover the stories and prices behind these treasured collectibles.
November 1, 2023 Sammy Tran


Disclaimer

The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.





Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team