Only Three Black People Made ‘Forbes List Of The 400 Richest Americans’ – Forbes, the renowned business magazine, has once again unveiled its annual list of the 400 wealthiest individuals in the United States of America. This year, the rich elite of America have made a triumphant return, recovering the $500 billion they collectively lost the previous year. According to Forbes, they are now jointly worth a staggering $4.5 trillion, matching a record previously set in 2021. What accounts for this impressive rebound? Half of these gains can be attributed to the resurgence of technology stocks, a testament to the ever-changing landscape of wealth in America. The net worth of these moguls was calculated based on stock prices as of September 8, 2023.
However, amidst this sea of opulence and resurgence, a stark and unsettling fact emerges: only three Black individuals found a place on The Forbes 400 list this year. The disparities in wealth are laid bare, highlighting the continued inequality in America’s economic landscape.
Sitting at a notable rank of 89 on The Forbes 400 list is Robert F. Smith, distinguished as the wealthiest Black person in the United States. With an estimated net worth of a staggering $9.2 billion, Smith’s remarkable journey to riches is a testament to his vision and determination. In 2000, he founded Vista Equity Partners, a private equity firm exclusively dedicated to investing in software companies. This savvy move propelled him to the upper echelons of American wealth.
However, Smith is not just a billionaire; he is also a philanthropist with a heart of gold. He captured the world’s attention in 2019 when he made headlines by paying off the student debts of the entire Morehouse College graduating class, an act of generosity that continues to inspire.
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