News Americas, New York, NY, Weds. April 3, 2024: The list of the world’s richest people as compiled by Forbes is in for 2024 and three billionaires are listed as being “Caribbean billionaires.”
The 2024 Caribbean billionaires according to net worth are as follows:
1: Kenneth Dart
Kenneth Dart is an heir to the Dart Container foam cup fortune and renounced his U.S. citizenship in 1994 to obtain citizenship in Belize. He is the #652 richest person in the world today with a net worth of US $4.7 billion and the richest in the Caribbean.
Dart relocated to the tax-free Cayman Islands in 1994. Born in Michigan, he invested part of his fortune in distressed sovereign debt from Greece to Argentina and made large profits by rejecting restructuring deals.
His largest assets are stakes in tobacco firms British American Tobacco and Imperial Brands, which first became public knowledge in late 2020. He also owns significant real estate at the Camana Bay waterfront development in the Cayman Islands, a country where he also has citizenship.
2: Rihanna
Barbados born musician, turned actress and entrepreneur, Rihanna, is listed as the second richest Caribbean billionaire, on a list of just three.
Rihanna is listed at #2,265 on the world’s rich list, with a net worth of US $1.4B. That is largely in part to the success of her cosmetics line – Fenty Beauty.
The cosmetics company, which she co-owns with French luxury retailer LVMH, doubled its revenue in 2022. She also has a 30% stake in the Savage x Fenty lingerie line, which raised money at a $1 billion valuation in February 2021.
3: Myron Wentz
Myron Wentz is the third richest Caribbean resident according to Forbes.
Myron Wentz, the founder of USANA, a multi-level marketing company that sells nutritional supplements and skincare products, rounds out the list of three Caribbean billionaires. Wentz, who renounced his American citizenship in the mid-1990s and now claims citizenship in St. Kitts & Nevis, has a net worth of US $1.3B
Wentz owns 42% of the business, which trades on the NYSE and makes $1 billion in net sales. He took it public in 1996. In December 2019, he retired as USANA’s chairman Prior to USANA, he founded Gull Laboratories in 1974 to sell diagnostic tests to hospitals and labs; he sold his stake in 1994 for $22 million.
