African Americans Break Billion-Dollar Barrier

Latif Lewis and Tanisha A. Sykes, Black Enterprise

- Born Sarah Breedlove in 1867 in Delta, Louisiana, the legendary Madame C.J. Walker was the daughter of former slaves. From her beginnings as an uneducated farm laborer and laundress, she transformed her life to become one of the most successful businesswomen of the 20th century. Walker, who made her fortune through a haircare products company targeted to the African American community, is widely reported to be the first self-made African American millionaire. When asked the secret of her success, Walker responded: “There is no royal flower-strewn path to success. … If I have accomplished anything in life, it is because I have been willing to work hard.” In 2003, media mogul Oprah Winfrey carries on this legacy, becoming the first African American woman billionaire. Other North American billionaires include Robert Johnson, BET founder and first African American owner of an NBA basketball franchise, and Michael Lee-Chin, a bouncer turned mutual fund magnate. Read on for more about these self-made billionaires.

Click here for more…