Source: The Black and Minority Business Blog

Back in 2014, both Forbes and Time magazines confirmed that Oprah Winfrey, the popular talk show host and television mogul, is no longer the richest Black woman in the world. She had been unseated by an oil baroness named Folorunsho Alakija. She is a Nigerian billionaire oil tycoon, a fashion designer and a philanthropist. The 66-year old is reported to be worth at least $3.3 billion. She has real estate worth over $100 million and a $46 million private jet. All in all, she is worth about $300 million more than Oprah. She began her career as a secretary at the International Merchant Bank of Nigeria then studied fashion design in England. Later, she returned to Nigeria to open her business called Supreme Stitches. Her fashion enterprise is now called The Rose of Sharon Group, which consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited. But her wealth really took off when she got into the oil business in 1991.