Oprah Winfrey, one of the richest people in the world, has been dethroned as the richest black woman in the world by Folorunsho Alakija, who hails from Nigeria. Alakija began her career working in the fashion industry but she has been making money recently as the owner of FAMFA Oil Limited and is worth close to $3.2 billion.
Alakija was born into a wealthy family and she then studied fashion design in England in the 1980s. Not long after fashion school she founded the company called Supreme Stitches. Alakija saw her creations being worn by some of the most important people in African society, which helped her become the premier fashion icon in her country. Alakija has also been referred to as one of the “pioneers of Nigerian fashion.” She is a member of the Fashion Designers Association of Nigeria.
In 1993, Alakija decided to switch careers, leaving the fashion world for the oil industry, where she has made most of her money. Alakija has out-earned Winfrey by $500 million, putting her atop the list of the world’s richest black women. It has been reported that Alakija owns a jet worth $46 million and real estate totaling $100 million. One can only imagine what her closets look like, especially since she is a fashion icon.