Blacks in America face obstacles to success in many areas, from racial wages and racial wealth inequalities that limit their ability to accumulate income and wealth, to increased student loan debt and racial bias in health care that could have long-term implications for the financial and physical well-being of blacks.
Despite these obstacles, the famous black entrepreneur profiles here a chance thanks to other qualities such as determination, stamina, intelligence, talent and skill. They are one of the most successful black entrepreneurs in American history. Everything is legendary, not only for business success, but also for the obstacles that had to be overcome to achieve it.
She is arguably the most famous black woman in the world and is known only by her first name, so it is traditional to start a list like this on Oprah. Born to a single mother in rural Mississippi and early in her career, she said she was “inept for television news,” built a media empire with herself at the center.
The full list of Oprah’s achievements and roles will fill the page, but here’s a quick recap. After an early success as host of “The Oprah Winfrey Show,” he became president of Harpo, a privately held multimedia company. In 20 years, she launched her own magazine, O, and in 2011 launched her OWN television network. She is also a philanthropist and contributor to “60 Minutes” and she is a brand ambassador for Weight Watchers, which owns a 7% stake.
All this success and ambition is reflected in his net worth. She is America’s richest black woman with a personal net worth of $2.6 billion, according to Forbes.
Dammond John became publicly known as a judge on ABC’s “Shark Tank,” but he was well known in the investment world much earlier. In fact, if the rumors were true, he started very young and sold custom pencils to his peers in first grade.
John’s path to real success began in 1989 when he founded streetwear company FUBU. She ultimately made the company a great success by lending clothes to popular musicians and building brand awareness through videos in which they appeared. The challenges of his early experience make him eager to educate young entrepreneurs about the importance of hard work and patience when it comes to building their own company.
Today, John is involved in a variety of companies, and is ceo of Shark Group, a brand consultant, and was founded in 2017 in partnership with BluePrint+ , a collaboration space in New York. Estimates of John’s personal wealth made his net worth about $250 million.
Michael Jordan’s story is one of determination. A committed basketballer from an early age as a teenager was told he was too short to play the sport professionally. Fortunately, he ignored that advice and played 15 seasons in the NBA and became the world’s most famous basketball player, scoring impressive score, win and awards records.
Jordan has pursued a number of brand partnerships and lucrative business licensing contracts in his playing days. For example, most people have heard of Nike’s Air Jordan line, but few know the size of the brand. and it doesn’t stop there . Jordan’s list of partnerships lists who are among America’s biggest brands, from Coca-Cola and Gottlad to Chevrolet and McDonald’s.
These partnerships were very lucrative for Jordan. After that, in December 2017, with an estimated net worth of $1.65 billion, he became the world’s highest-paid athlete.
Robert L. Johnson and Sheila Johnson
Robert Elle and Sheila Johnson may not be as well known as Michael Jordan and Oprah Winfrey, but they’ve even made a big impact on the American media from behind the scenes.
Robert Johnson is the founder of black entertainment television network BET. They were co-owners when he founded the network with his wife, Sheila. After years of increasing audience numbers and media access, Viacom bought the company in 20 years for $2.9 billion, making the Johnsons america’s first black billionaire.
In the 20 years since, the couple have diversified their business interests widely. They are owners of sports teams, investment companies, digital content distribution companies, video streaming services, film festivals and a venture capital incubator.
You probably know who Sean Combs is, but you may not know him by that name, and he’s also going by Puff Daddy and PDD.
Combs, best known as a recording artist, has built an impressive business portfolio over the past 20 years. While producing her own music, she quickly climbed the ranks among Uptown Records and launched her own label, Bad Boys Entertainment, in 1993. Since then he built a cable music network called Riot and invested in many restaurants and food businesses. He owns 50% of The Sealrock Vodka, DJ Khaled owns the other half.
All of this success has made The Shoulder rich. Forbes has always named him the richest man in hip-hop, with a personal net worth of $740 million.
Madame C.J. Walker
Sarah Breedlove, a former slave child from Louisiana, was one of America’s first successful black businessmen and has become as determined as her philanthropy.
Walker’s early success was a prime example of finding gaps in the market that were ignored by the business elite at the time. Walker suffered from hair loss due to a scalp condition and she began treatment for herself. He recognized the opportunity for a shortage of hair products for African Americans on the market at the time. Walker traveled the country with her husband for years, promoted the “Walker Act” of hair care, later expanded into cosmetics and was very successful.
Walker eventually went on to own a large company called the Madame C.J. Walker Institute. Under its watch, he trained hundreds of hairdressers. The company has 100,0 black community icons nationwide.