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NEXT CROP OF BLACK BILLIONAIRES?

Carl Cushnie (pictured above) is in line to become Europe's first black billionaire and is believed to be Britain's richest Black.  Real Business writes "The Jamaican immigrant arrived in this country aged 13 in straitened circumstances after the death of his father.  He went on to become the UK's most admired black businessman, and with a 60 per cent shareholding worth $350 million in his trade finance company, Versailles Group, the wealthiest."

Cushnie purchased the black style magazine, Pride, where he made his son and namesake the publisher.  He lived in a 12 million dollar mansion in the exclusive London suburb of Kingston and owns an opulent property in France.

On August 25th, 2006 it was revealed that Cushnie was worth $661 million, so -- depending on the value of the Johnson ex-couples Viacom stocks -- Cushnie may currently be the world's richest man of predominantly sub-Saharan ancestry.

In 2004 Cushnie was allegedly sentenced to 6 years' imprisonment for conspiring to defraud private investors and was disqualified from acting as a company director for 10 years.  How this development may have affected his net-worth of $661 million dollars is not known.

Patrice Motsepe pictured with his wife

While no Black South African has ever appeared on Forbes Billionaire list, the end of apartheid has given rise to at least one Black Half-Billionaire, Patrice Motsepe, whose wealth has been estimated at more than $500 million and is believed to be South Africa’s richest Black.  Also symbolizing South Africa’s new Black economic elite are Cyril Ramaphosa, one of South Africa's richest men, who was once mentioned as a possible successor to Nelson Mandela, Tokyo Sexwale, another politician turned entrepreneur, and banking and media tycoon Saki Macozoma.

Time Europe writes, “Although they work separately, Macozoma, Motsepe, Ramaphosa and Sexwale have been dubbed the Fabulous Four for their growing power and wealth, and between them, they have more than a billion dollars' worth of interests in some of South Africa's largest companies, including mining heavyweights Harmony Gold and Gold Fields, life insurer Sanlam, Alexander Forbes Financial Services as well as banking giants ABSA and Standard Bank."

 

 

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