Michael Jordan (then estimated to be worth $525 million), Shaquille O’Neal ($130 million), Magic Johnson ($500 million), and Robert Johnson, cofounder of Black Entertainment Television (BET),
Were among the 20 businessmen, moguls, athletes, and entertainers on that first ranking. In addition to Bill Cosby, who had a net worth of $450 million,
And Ken Chenault, the first (and only) Black CEO of American Express, who had a net worth of $125 million, the 95-year-old founder of Motown Records and music.
Industry legend Berry Gordy also made the list with an estimated wealth of $325 million. The ranking of the wealthiest Black Americans has significant influence
Over the years, Forbes has stayed dedicated to recognizing the accomplishments of Black entrepreneurs, with the original goal of tracking success in Black America.
Creating a new list of the richest Black Americans was one of Forbes’ primary goals when it established the ForbesBLK platform in 2023,
