Sunday, August 6, 2017

Discover Who Replaced Oprah As The World's Richest Black Woman

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.

Folorunsho Alakija 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.

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How she did it

It certainly helped that Folorunsho was born into a wealthy family in Nigeria, but her career began as a secretary at the International Merchant Bank of Nigeria. She then studied fashion design in England, and later returned to Nigeria to open her business called Supreme Stitches which designed and sold high-end Nigerian clothing to upscale women. 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. With no expertise at all in running an oil field, she boldly applied for and received an Oil Prospecting License (OPL) to explore for oil on a 617,000 acre block. She then went on to launch Famfa Oil (, which now generates billions of dollars in revenue every year.

Folorunsho has many qualities that led to her success, including intelligence, good business acumen, and also the courage to fight for what was hers - including taking on the Nigerian government who wanted a 50% stake in her lucrative oil field.

Sharing her knowledge

To help others, Folorunsho does a lot of public speaking and also shares valuable wisdom about life in her books. She is the author of several best-selling books including The Cry of Widows and Orphans, a resource material for policy makers and legislators, and an information manual for widows and orphans, enabling them to know their rights and seek help.

She also wrote a book entitled University Of Marriage, which helps married couples to bring the spark back into their marriage, or help to perpetuate their already wonderful marriage.

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Posted by community events coordinator, Nzinga Lonstein Austin, is a prolific blogger who writes on the entertainment industry and issues for people with developmental and physical challenges.

She is presently in high school looking to have a career in video, film, and media. You can see more of her entertainment writing on Lonstein Movies.

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