Nigerian Businesswoman Beats Oprah As the World’s Richest Black Woman

According to Ventures Africa, media mogul Oprah Winfrey is no longer the richest black woman in the world thanks to the fortunes of Nigerian entrepreneur Folorunsho Alakija.

Alakija, who has worked in various industries across fashion, print and oil, started her career in the mid 70s as a secretary at the International Merchant Bank of Nigeria. In the early 80s, she quit her job and went to study fashion design in England. Shortly after, Alakija returned home to start her clothing line, Supreme Stitches, which is a premium Nigerian fashion label that caters to a wealthy clientele. With plans to expand her business fortunes, Alakija acquired an oil prospecting license for her company Famfa Ltd., which is ultimately the source behind her wealth today.

In 2012, Ventures Africa measured the Nigerian business mogul to be worth $3.3 billion, but Alakija net worth has reportedly more than doubled since then to an estimate $7.3 billion thanks to her company’s ownership stake in the highly lucrative oil block OML 127.

With Forbes reporting Oprah as having a net worth of $3 billion, Alakija’s whopping $7.3 billion easily puts her in the top spot for black female billionaires.