5. Robert L. Johnson (Net worth $1.3 Billion)
Born in 1946, he is an entrepreneur and a media magnate who co-founded the Black Entertainment Television channel which was sold to Viacom for 3 Billion dollars in 2001. He also founded the RLJ Companies, which is a holding company that invests in various business s sector. This versatile business giant was the first African American Billionaire and has been counted among Forbes magazines 400 ‘Richest Americans’. This majority owner of the basketball team Charlotte Hornets has been known to own the most prominent African American Businesses in the late 20th and early 21st centuries.