Oprah Winfrey is no longer the world’s richest black woman. That distinction now belongs to Nigerian oil baroness and fashionista, Folorunsho Alakija, Time reports.
Alakija is worth at least $3.3 billion, about $300 million more than American television personality Oprah.
The 62-year-old started her career as a secretary at the erstwhile Merchant Bank of Nigeria, but moved to England in the early 1980s to study fashion design. She then returned to set up a high-end label called Supreme Stitches. However, a significant proportion of Alakija’s fortune comes from an oil-exploration license granted to her company Famfa Ltd. in 1993.