The Richest Black Woman In the World Started In Fashion

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Move over, Oprah Winfrey there is a richer lady on the map. The new leading lady is oil baroness Folorunsho Alakija from Nigeria. Alakija has been throned as the richest black woman in the world.

The 61-year-old owner of FAMFA Oil Limited a very rich woman — she is estimated to be worth at least $3.2 billion — Alakija started her ascent to financial supremacy in fashion.

Born into a wealthy family, Alakija studied fashion design in England back in the ’80s and soon after founded the Nigerian clothing label Supreme Stitches. Her one-of-a-kind creations were worn by the who’s who of African society, quickly making her the premier fashion designer in the West African country. In fact, she has been called one of the “pioneers of Nigerian fashion” and stays connected to the industry through the Fashion Designers Association of Nigeria (FDAN).

The well-heeled businesswoman and philanthropist made the switch to oil in 1993 and the rest is history. From the images we were able to dig up of Alakija, she is quite the fashion plate. But when you’ve out-earned the Queen of All Media by approximately $500 million, you’re allowed to wear whatever you want. Alakija also owns a Bombardier Global Express 6000 which she bought earlier this year for a reported $46 million. She is the founder of the Rose of Sharon foundation, a Christian-based charity which gives out small grants to widows.

Alakija is married to Modupe Alakija and they have four grown-up sons together. She also has a grandchild from her first son.
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Modupe Alakija, her husband is the Chairman of Famfa Oil. Her sons run the company.

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