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

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

MeltdownsWikimedia.Commons

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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

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

Michael Jordan in 2006 press.Nikeush, CC BY-SA 4.0, Wikimedia Commons

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

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Jay-Z

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

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. 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

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.

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LeBron James

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

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

Tiger Woods

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

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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

Diddy (Sean Combs)

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

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 Doha.Doha Stadium Plus Qatar, Flickr

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Beyonce

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

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.

Luxury Hotel Secrets FactsShutterstock

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

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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. 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

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

Janice Bryant Howroyd

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

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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.

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

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)

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.

Keke Palmer at San Diego Comic ConGage Skidmore, Flickr

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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

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.

Issa Rae FactsShutterstock

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.

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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

Ava DuVernay

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

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. 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

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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

Anthony Joshua

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

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.

Grand Slam Champion Venus Williams in pink outfitLeonard Zhukovsky, Shutterstock

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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

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. Everything she does blends personal authenticity with global resonance.

Michelle ObamaGage Skidmore, Flickr

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

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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. 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

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

Nicki Minaj

Nicki Minaj is breaking records and also building an enterprise. 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

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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. His influence continues to open doors for young artists.

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

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

Pharrell Williams

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

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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.

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

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

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. 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

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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


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