Black Billionaires 2010

Forbes magazine has released it's annual ranking of the worlds richest people. This year there are 1011 billionaires in the world up from 793 a year ago but still shy of the record 1,125 in 2008. For the third time in three years, the world has a new richest man.

Mexican tycoon Carlo Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires. His fortune grew to an estimated $53.5 billion, up $18.5 billion in 12 months.

Bill Gates, who had held the title of world's richest 14 of the past 15 years, is now worth $53 billion, and is ranked second in the world. He is up $13 billion from a year ago.

Warren Buffett, who ranks third, saw his fortune grow by $10 billion to $47 billion on rising shares of Berkshire Hathaway.

This year there are six black billionaires down from seven last year. Mohammed Ibrahim, is new to our list this year but not new to the Forbes list, we just missed him last year. Nigerian Femi Otedola fell off the billionaires list this year but we expect to see him back.

Saudi Arabia's Mohammed Al Amoudi (Rank #64), remains the richest black person in the world, with an estimated networth of $10 billion dollars, up from last year by $1 billion. Born in Ethiopia to Saudi father and Ethiopian mother, Mr. Al Amoudi made his fortune in construction and real estate before betting on Swedish and Moroccan oil refineries. His Svenska Petroleum conducts oil exploration from the Nordic shelf to the Ivory Coast. Hit jackpot with gold mine in the Oromo region of Ethiopia; it now produces 6 tons of gold annually, set to double production by 2010. He is the largest foreign investor in Sweden and the largest private investor in Ethiopia. His Swedish investments comprise half his fortune. Owns several properties in London and the U.S. Donated more than $1 million to the Clinton Foundation.

Oprah Winfrey's (Rank #400) net worth is estimated to be $2.4 billion down from $2.7 billion. The queen of daytime television continues to expand her empire, starting the Oprah Winfrey Network with Discovery; launch set for late 2010. Plans to retire the talk show after the deal expires in 2011. Harpo Films inked cable deal with HBO after 15 years at ABC. Oprah's Angel Network has raised more than $70 million for international humanitarian causes.

Patrice Motsepe (Rank #421), who has the honour of being South Africa's first billionaire has a estimated net worth of $2.3 billion. Net worth up this year by $1 billion as a result of rising stock prices and South African Rand's strength against the dollar. Born in the sprawling black township of Soweto and then trained as a lawyer, Motsepe became the first black partner at Johannesburg's Bowman Gilfillan law firm, before starting a low-level conracting business doing mine scutt work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then, built $875 million (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: precious metals (platinum and its cousins), nickel, chrome, iron, manganese and coal. Benefited from South Africa's Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 6.2% stake in Sanlam, a publicly traded financial services company outside Cape Town.

Mo Ibrahim (Rank #463) is a global expert in mobile communications with a distinguished academic and business career. Founder of Celtel International, sold 2005 to MTC Kuwait for $3.4 billion, making it one of Africa's most successful commercial ventures. Dr. Ibrahim personally pocketed $1.4 billion from the sale. The London resident now spends his time on philanthropy and investing in Africa. Created Mo Ibrahim Foundation to award monetary prize to former African heads of state who have shown exemplary leadership in such areas as promoting political freedom; panel of judges decided not to award prize in 2009.

Aliko Dangote (Rank #463), net worth is estimated to be $2.1 billion down from $2.5 billion dollars. Nigeria's first billionaire hit the jackpot when his sugar-production company listed on the Nigerian stock exchange last year. Meanwhile,stake in Benue Cement has doubled, helped by demand from China. He became President of the Nigerian Stock Exchange last August. Settled row with businessman Femi Otedola, who fell off the billionaires list this year.  Began career as trader at 21 with loan from his uncle; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, haulage and oil and gas. Closely linked to Nigeria's former president Olusegun Obasanjo.

Michael Lee-Chin's (Rank #937) net worth is estimated to be $1 billion the unchanged last year. Sold his AIC mutual funds, which he acquired in 1987, after assets under management plunge by 42% since investors started cashing out during financial downturn. The Jamaica native also owns stakes in National Commercial Bank Jamaica, Total Finance in Trinidad & Tobago and Columbus Communications, a cable and communications company in Barbados. His personal real estate portfolio includes 250 acres of beachfront property in Ocho Rios, Jamaica and homes in Canada and Florida. The new Michael Lee-Chin Crystal, a Daniel Libeskind-designed building at the Royal Ontario Museum, hosted its first exhibit in December, "The Age of Dinosaurs."

SOURCE: Forbes.com