Table of Contents
Key Points
- Dr. Dre and Jimmy Iovine's $70 million USC gift created a tech-driven academy merging arts, technology, and entrepreneurship for future innovators.
- Robert F. Smith’s $50 million donation to Cornell supports Black and female engineers, complementing his $100 million student debt relief initiative for HBCUs.
- African moguls Rabiu, Motsepe, and Masiyiwa are enhancing local universities with multimillion-dollar grants for infrastructure, innovation, and scholarships.
Across the globe, Black billionaires are focusing on one of the most impactful ways to create lasting change: education.
By making targeted donations to universities, they are funding scholarships, enhancing facilities, and creating opportunities for underrepresented groups. These philanthropists are reshaping academic landscapes and empowering future generations of leaders.
Dr. Dre and Jimmy Iovine donated $70 million to the University of Southern California, establishing the USC Jimmy Iovine and Andre Young Academy. The gift supports a program that integrates arts, technology, and entrepreneurship—fields Dre has significantly impacted in the music industry.
Robert F. Smith, founder of Vista Equity Partners, gained attention in 2019 for paying off the student loans of Morehouse College’s graduating class. He later contributed $50 million to Cornell University to support Black and female engineers, creating new pathways for these groups.
Oprah Winfrey has contributed a total of $25 million to Morehouse College, providing scholarships for Black men. In South Africa, Patrice Motsepe’s $18.3 million donation to the University of Cape Town is expanding STEM opportunities.
Abdul Samad Rabiu, chairman of BUA Group, invested $12.3 million in a new educational complex at the University of Maiduguri, improving infrastructure in Nigeria’s underserved regions. Strive Masiyiwa, a Zimbabwean telecommunications mogul, donated $6.4 million to scholarships and development projects at Morehouse College and Ashesi University in Ghana.
Femi Otedola and Aliko Dangote have also contributed to Nigerian universities, supporting research and student welfare. In the U.S., Michael Jordan and David Steward have each made significant donations to education, bridging gaps across industries.
Billionaires.Africa highlights the ten largest donations to universities by Black billionaires, underscoring a shared commitment to transforming educational systems and fostering a more inclusive future.
- Dr. Dre
Donation: $70 million
In 2013, Dr. Dre (Andre Young) alongside music mogul Jimmy Iovine donated $70 million to the University of Southern California (USC) to establish the USC Jimmy Iovine and Andre Young Academy for Arts, Technology, and the Business of Innovation. The academy offers a four-year undergraduate program integrating disciplines such as marketing, entrepreneurship, computer science, engineering, audio-visual design, and the arts. It aims to cultivate a new generation of innovators by providing mentorship, industry interaction, and interdisciplinary coursework. The inaugural class of 25 students commenced in fall 2014. In 2019, the academy expanded with the opening of Iovine and Young Hall, a 40,000-square-foot facility featuring advanced labs and creative spaces. This initiative reflects Iovine and Dr. Dre's commitment to fostering innovation at the intersection of arts and technology.
- Robert F. Smith
Donation: $50 million
In 2016, Robert F. Smith, the chairman and CEO of Vista Equity Partners, donated $20 million to Cornell University’s Engineering School, which was later renamed the Robert Frederick Smith School of Chemical and Biomolecular Engineering in his honor. The donation was part of Smith’s broader commitment to increasing diversity in STEM fields. In addition, Smith gave $10 million to fund scholarships specifically for minority students pursuing STEM degrees. His philanthropic efforts continued with the establishment of the Student Freedom Initiative, an initiative that aims to alleviate student debt for STEM students at Historically Black Colleges and Universities (HBCUs), with Smith committing $100 million to the cause. Smith’s contributions, including his landmark gift to Morehouse College's 2019 graduating class, which paid off their student loans, reflect his commitment to expanding educational access and creating opportunities for underrepresented communities in higher education.
- Oprah Winfrey
Donation: $25 million
In 1989, media mogul and philanthropist Oprah Winfrey launched the Oprah Winfrey Scholars Program at Morehouse College with an initial $12 million donation, aimed at empowering young Black men through access to higher education. In 2019, she deepened her commitment with an additional $13 million, bringing her total contribution to $25 million—the largest endowment in the college’s history. The program has supported over 700 scholars, including Randall Woodfin, now the youngest mayor in Birmingham, Alabama’s history. Celebrating the program’s 30th anniversary, Winfrey visited Morehouse, where she met with 47 scholars, engaged with faculty and trustees, and was honored with a commemorative oil painting. She described Morehouse as a “school with a moral core,” reaffirming her belief in the transformative power of education. Winfrey’s philanthropic legacy reflects her unwavering dedication to equity, education, and uplifting historically marginalized communities across the United States.
- Patrice Motsepe
Donation: $18.3 million
In 2003, Patrice Motsepe, South Africa’s first billionaire, established the Motsepe Foundation, with a focus on empowering disadvantaged communities. The foundation has provided over R260 million ($18.3 million) in bursaries to nearly 2,000 students, enabling them to pursue higher education at prestigious institutions like the University of Cape Town, University of Pretoria, University of Johannesburg, and University of the Witwatersrand. The foundation’s bursary program aims to not only provide access to education but also to encourage graduates to give back to their communities through a "pay-it-forward" model. This initiative is a testament to Motsepe’s commitment to fostering long-term socio-economic change in South Africa by equipping the next generation with the knowledge and skills to drive community development and innovation. Through these efforts, the Motsepe Foundation continues to make a significant impact on the country’s educational landscape.
- Abdul Samad Rabiu
Donation: $12.3 million
In 2022, Nigerian billionaire Abdul Samad Rabiu, through his philanthropic vehicle—the Abdul Samad Rabiu Africa Initiative (ASR Africa)—donated N5.5 billion ($12.3 million) to 22 Nigerian universities under the Tertiary Education Grants Scheme. Each selected institution received N250 million ($560,700) earmarked for infrastructural upgrades and facility improvements. Launched in April 2021, ASR Africa is dedicated to driving impact across education, healthcare, and social development sectors, with a $100 million annual fund targeting African institutions. The initiative builds on a prior round of donations, bringing the total number of beneficiary institutions to 30. Universities selected include the University of Lagos, University of Uyo, and University of Jos, chosen through a structured evaluation process. ASR Africa is also implementing accountability frameworks to ensure project execution. This latest effort underscores Rabiu’s long-term commitment to strengthening educational infrastructure across Nigeria while leveraging his wealth to address systemic development challenges on the continent.
- Strive Masiyiwa
Donation: $6.4 million
In 2012, Strive Masiyiwa, founder of Econet Wireless, received an honorary Doctor of Humane Letters from Morehouse College for his philanthropic efforts across Africa. Following this honor, he established the Ambassador Andrew Young International Scholars program, committing $6.4 million to fund scholarships for 40 African students over four years at Morehouse. The inaugural cohort, comprising eight Zimbabweans and two Burundians, commenced studies that fall. This initiative reflects Masiyiwa's broader commitment to education through the Higherlife Foundation, formerly known as Capernaum Trust, which he and his wife, Tsitsi, founded in 1996. The foundation has provided over 250,000 scholarships to orphaned and vulnerable children across Africa. Masiyiwa's dedication underscores his vision for empowering African youth through education.
- Femi Otedola
Donation: $4.3 million
Femi Otedola, Nigerian billionaire and philanthropist, has significantly advanced educational infrastructure in Lagos State. In February 2023, he donated a N2 billion ($4.3 million) engineering complex to Augustine University in Ilara, Epe. This modern facility enhances the university's engineering programs and underscores Otedola's commitment to fostering innovation. In October 2023, he was inaugurated as the university's Chancellor, further solidifying his dedication to its growth. Otedola's ongoing support exemplifies his belief in transforming institutions he associates with, setting a benchmark for philanthropic contributions to education.
- Aliko Dangote
Donation: $3.2 million
In 2018, Aliko Dangote, Africa’s richest man, donated N1.2 billion (approximately $3.2 million) to Bayero University in Kano to establish the Dangote Business School. This state-of-the-art institution aims to nurture business leaders in Northern Nigeria and features modern auditoriums, lecture halls, and cutting-edge research facilities. The donation reflects Dangote’s commitment to advancing education and entrepreneurship in the country. Furthermore, his philanthropic efforts extended to Ahmadu Bello University (ABU) Zaria, where he funded the construction of a 2,160-bed student hostel complex, valued at N1.2 billion. These contributions underscore Dangote’s ongoing support for Nigeria’s educational infrastructure, promoting both academic excellence and the development of future business leaders.
- Michael Jordan
Donation: $3 million
Michael Jordan, through his Jordan Brand, has consistently demonstrated a strong commitment to philanthropy. In 2020, he donated $2 million to the University of North Carolina’s athletic department, reaffirming his deep connection to his alma mater and collegiate sports. His impact also includes a significant $1 million donation to Morehouse College in 2021. This donation supported the expansion of the Journalism and Sports Studies program, helping to address the underrepresentation of Black leadership in sports journalism. Jordan’s generosity has helped educate over 600 students, with many now working in media and sports. These contributions reflect Jordan's broader Black Community Commitment, encompassing support for cultural institutions like the Smithsonian National Museum of African American History and Culture.
- David Steward
Donation: $1.3 million
In 2024, David Steward, founder of World Wide Technology, and his wife Thelma pledged $1.3 million through the Steward Family Foundation to establish the David and Thelma Steward Institute for Jazz Studies at the University of Missouri–St. Louis (UMSL). The donation aims to elevate St. Louis as a national jazz hub, supporting scholarships, artists-in-residence, student ensemble travel, and UMSL’s summer jazz camp for middle and high school students. A lifelong advocate for the arts, Steward emphasized the role of jazz in American culture and expressed intentions to contribute an additional $8.1 million in partnership with UMSL, Jazz St. Louis, and the business community. The couple’s enduring support for jazz includes previous contributions to Jazz St. Louis’ performance space—named The Harold & Dorothy Steward Center in honor of David’s parents. This latest gift cements the Stewards’ legacy of championing cultural preservation and educational opportunity through the power of music.
