In this article we are going to list the 3 richest black people in America and their stock picks . For a detailed coverage of this topic and a more comprehensive list, please head on over to the 7 richest black people in America and their stock.
3. Oprah Winfrey
Total net worth in March (in billions of dollars): 2.7
Oprah Winfrey is one of the most famous celebrities in the world, and one of the very few to have become a billionaire as well. Born in poverty to a single mother and sexually molested as a child by those close to her, Oprah really had to struggle in childhood, but her sheer perseverance enabled her to lift herself out of those conditions and create The Oprah Winfrey Show, which was the highest rated such show in history and ran for a quarter of a century, from 1986 to 2011. She was considered to be the richest black person in the 20th century and the first black person to become a multi-billionaire. She is also the only woman in our list of richest black people in American and their stock picks. One of the most popular stocks she invested in is Weight Watchers (NASDAQ:WW), a stock she believed in as it helped her lose weight.
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2. David Steward
Total net worth in March (in billions of dollars): 3.7
David Steward is the founder of World Wide Technology, which is considered to be among the biggest African American owned businesses in the United States. Steward had to face poverty as well as discrimination and segregation because of his skin color, but he went on to receive quality education and held a few jobs where he performed really well, before establishing World Wide Technology, which is a systems integrator, and currently has around $12 billion in sales annually, making it one of the biggest private companies in St. Louis.
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1. Robert F. Smith
Total net worth in March (in billions of dollars): 6
Topping the list of the richest black people in America and their stock picks is Robert F. Smith. Robert Smith is the founder of Vista Equity Partners, which is an investment firm which focuses on software and data and technology-enabled startup businesses as well. The company has invested in hundreds of other companies, including Activision Blizzard (NASDAQ:ATVI), Fiverr (NYSE:FVRR) and Shopify (NYSE:SHOP).
Robert Smith himself had humble beginnings but excelled in education and from 1994 to 2000, worked at Goldman Sachs (NYSE:GS), advising on mergers and acquisitions. It was in 2000 that he founded Vista Equity Partners, and has managed to generate a return of at least 30% since inception up to 2020, which is an excellent return. The company currently has at least $46 billion in funding.
Please also see 15 Youngest Tech Billionaires and 25 Highest Earning Billionaires in 2020.
Disclosure: None.
