Over the years we have experienced some amazing entrepreneurial journeys. Entrepreneurs who failed before they succeeded are now leading successful empires with their Black-owned businesses and have grown from humble beginnings to become a force for the Black community. There are many trailblazers in the Black business world, and their journeys are truly inspiring.
The most successful black entrepreneurs
We look at just some of the most successful Black entrepreneurs of recent years and their thriving businesses throughout history and recent years. This is by no means an exhaustive list, but rather a small showcase of some of the amazing business ventures of black entrepreneurs and more about their journey. Be sure to check out Black Entrepreneur Quotes for even more entrepreneurship inspiration.
Sean Johnson Combs
Sean Johnson Combs, also known as P.Diddy and Puff Daddy, is one of the most successful African Americans in the entertainment industry. Following his music career, Sean Johnson Combs is also the founder of the record label Bad Boy Entertainment. In addition to his own label, Combs also invests in the food and beverage industry.
Sheila Johnson
Sheila Johnson is co-founder of the media empire Black Entertainment Television with her husband Robert Johnson. BET was the first television network to air on a network focused exclusively on black entertainment and continues to be a leading network. She is also the founder of Salamander Hotels & Resorts, a venture capital firm, and the first African-American woman to reach a net worth of $1 billion.
Michael Jordan
Michael Jordan is not only the most famous basketball player in the world, but also a very successful entrepreneur. He is the highest-paid athlete in the world and ran companies from a young age, including Nike's famous Air Jordan line. He also owns a minority stake in the Charlotte Hornets basketball team.
Sarah Breedlove
Ms. CJ Walker, née Sarah Breedlove, is one of the most successful black entrepreneurs in history and the first self-made woman millionaire in American history. Ms. CJ Walker's company, Walker Manufacturing Company, found success developing beauty and hair products for black women and continues to operate today.
Jay-Z and Beyonce
Both Jay-Z and Beyonce run thriving Black businesses both individually and as a couple. Jay-Z, a musician-turned-business, owns the label Roc Nation, the clothing company Roca Wear, the streaming service Tidal and several restaurants. In addition to her successful music career, Beyoncé founded the popular gym and athleisure brand Ivy Park. Together, their estimated net worth is around $1.9 billion.
Oprah Winfrey
Oprah Winfrey is considered one of the most successful American women in recent history. Her entrepreneurial journey began with her own talk show and has evolved into running her own brand, Harpo Inc., a media conglomerate that includes both television and publishing. She also acts as a brand ambassador for various companies.
John H. Johnson
John H. Johnson is the founder of Johnson Publishing Company, the company behind famous black publications such as Ebony and JET. John H. Johnson was one of the first African American entrepreneurs to achieve success in publishing.
Where is Dangote?
Nigerian business tycoon Aliko Dangote is considered one of the richest black entrepreneurs. He is the Chairman and CEO of Dangote Group, which operates in industries such as sugar, freight, food processing, cement manufacturing and other areas. Dangote Group's annual revenue is estimated at $14.1 billion.
George Foreman
George Foreman is known not only for his illustrious boxing career but also for his entrepreneurial ventures. While he was gaining fame in the boxing ring, he also developed the George Foreman grill, which revolutionized cooking by making it faster, easier and healthier. In addition to his business activities, he also acts as a motivational speaker.
Janice Bryant Howroyd
Janice Bryant Howroyd is a pioneering Black female entrepreneur. She began her journey at a small business, employment agency ActOne, which has since grown into a national powerhouse. Notably, she is the first African American woman to found and own a multi-billion dollar private company.
Tyra Banks
Tyra Banks is known for her iconic modeling career, but her career has also included many business ventures. She is currently the CEO of her production company, Bankable Productions, which was behind top TV shows such as America's Next Top Model and The Tyra Banks Show. Tyra Banks has also launched books, a makeup line, and other ventures.
Kenneth Frazier
Kenneth Frazier is chairman and former CEO of pharmaceutical giant Merck & Co. He joined Merck as general counsel and led the company's defense in high-profile litigation before taking on the role of CEO. He stepped down from the CEO position but continues to serve as Merck's chairman.
Rihanna
Rihanna is one of the younger young black entrepreneurs who has transitioned from music to the multi-million dollar beauty line Fenty Beauty and the lingerie clothing line Fenty X Savage. Her brand Fenty Beauty was acquired by luxury beauty giant LVMH, but Rihanna remains CEO of both brands. Her net worth is estimated at $1.7 billion.
Cathy Hughes
Cathy Hughes is the founder of RadioOne, a media company, after purchasing a radio station in 1979. RadioOne went public in 1999, making Cathy Hughes the first African-American woman to lead a publicly traded company.
Shonda Rhimes
Shonda Rhimes is a renowned television producer, screenwriter and author known for producing numerous hit series such as Gray's Anatomy, Scandal and How To Get Away With Murder. She runs her own production company, ShondaLand, and is currently involved in a multi-million dollar production deal with Netflix.
Daymond John
Daymond John is behind the fashion clothing brand FUBU, which stands for For Us By Us, which he founded at a young age. He is also known for his role on the popular TV show Shark Tank as one of the Shark Group investors. FUBU has expanded into other areas and is currently committed to supporting Black businesses where possible.
Chris Gardner
Chris Gardner is a businessman and motivational speaker. Gardner struggled with homelessness early in his career, but eventually became a stockbroker and founded his own firm in 1987. After finally selling his minority interest, he wrote his memoirs, which became the film The Pursuit of Happyness, in which he was played by Will Smith.
Who is the most famous black entrepreneur?
The most famous black female entrepreneur is Oprah Winfrey, who has been a household name for decades since the debut of her daytime talk show. Oprah now runs her own media company, Harpo Inc.
Who is the richest black entrepreneur?
The richest black entrepreneur is Nigerian businessman Aliko Dangote. He has a net worth of $14.1 billion.
What is the largest Black-owned business in the US?
There are many contenders for the largest Black-owned company in the U.S., but one of the frontrunners would be staffing agency ActOne Group, led by Janice Bryant Howroyd, which has over $2 million in revenue and employs more than 2,000 people.
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