Who was the first African American Billionaire?

As quoted from FORBES magazine (10.08.01):
“(This African-American) has traveled the classic American journey from modest origins to unimaginable wealth. The ninth of ten children in a working-class family in small-town Illinois, he parlayed a $15,000 loan in 1979 into Black Entertainment Television, one of the cable industry’s richest franchises.
He took it public in 1991, took it private at a $1.3 billion valuation in 1998–and then sold it to Viacom for more than double that earlier this year, netting himself $1.5 billion in Viacom stock for his 63% stake. The deal set him up to build BET, now in almost 70 million homes, into the premiere medium for reaching the U.S.’ 35 million African-American consumers. It also makes him the first black billionaire, earning him the #172 slot on The Forbes 400 list of the richest Americans.”
Q: Do you know his name?

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