It’s hard to believe how far society has come in the past 100 years, in regards to issues of racism. In celebration of Black History Month, we here at Banc De Binary, would like to give a special shout out to our “Top 5 African American Business Leaders.” They have already achieved so many amazing things in their life time, and we hope they continue to prosper.
1. Michael Jordan
Okay, we know what you’re going to say. He’s not a business leader! He’s a basketball player! Well, over the course of his NBA career, Jordan has served as the spokesmen, and business leader, for Air Jordan, one of the very first sports shoes to reach a price tag of $120, and still fly off the shelves.
His incredibly calculated investments over the years are also noteworthy. In a recent Forbes Magazine article, entitled: “How Michael Jordan Still Earns $80 Million A Year,” the writer includes a full list of Jordan’s current assets. A car dealership in North Carolina, 6 restaurants, a Motorsports team, and 80% of the Charlotte Hornets NBA Team, make up only part of his impressive portfolio.
His 1996 portrayal of himself in “Space Jam,” grossed $230 million for the film to date. Not bad for an $80 million budget. In interviews, MJ talks a lot about the power of motivation, and his unparalleled work ethic over the years. There’s more to say, but the list must go on.
2. Oprah Winfrey
Oprah Winfrey was born in 1954 to an unmarried teenage girl living in Mississippi. Her grandmother had barely finished 3rd grade, but still managed to teach her how to read the Bible. Her childhood was not an easy one. At an early age, she suffered sexual abuse. Meanwhile, the family’s horrendous financial situation often translated into her wearing potato sacks to school, and being mocked for it.
With the help of part-time jobs, Oprah attended college, and soon after graduating, got a job as a local news anchor. But, her boss said she was too theatrical for the news. She moved into the talk-show business, and the rest is history.
Her prestigious titles currently include: the only black billionaire in North America, the richest African-American of the 20th century, and “the Queen of all media.” Her talk shows have covered everything from spirituality, celebrities, business, and literature. We are proud to feature her here.
3. Ken Chenault
Relative to Oprah Winfrey, Ken Chenault’s story is less of a rags-to-riches tale. Chenault was born in New York, in 1951. His father was a dentist, while his mom was a hygienist. After attaining a B.A. in History, Chenault went on to Harvard Law School.
He joined American Express in 1981, and in 2001 became one of the first African Americans to lead a Fortune 500 company.
On September 11th 2001, American Express lost 14 employees (the company’s headquarters was just across the street from the World Trade Center). Chenault is credited with leading the company out of this difficult time, and has continued to sustain and spread the company’s prestigious name around the globe since then.
4. Jay-Z
Born as Shawn Corey Carter, in 1969. Jay Z had a rough childhood in the Marcy Projects, Brooklyn, New York. Many of his songs deal with his experiences as a youth in his drug-infested community. When Jay-Z was only 11 years old, his father, Adnes Reeves, abandoned his family.
Even from early childhood, says Jay-Z, rap was an outlet for him and a constructive place to channel his energies. In 1989, his song, “The Originators,” which he co-produced with a friend, won the pair an appearance on Yo! MTV Raps, a hit TV-Show.
In 2003, after achieving international fame, he took a break from rapping to focus on his presidential duties of Def Jam Recordings. His sources of revenue today come from a variety of investments he made over the years. He owns the 40/40 club, with locations in Atlantic City and New York, Rocawear (a popular clothing line), and is part-owner of the New Jersey Nets NBA Team.
5. Ursula Burns
Ursula Burns was born in 1958 to two immigrants from Panama. Growing up in a New York City housing project, Baruch Houses, she realized from an early age that she would have to fight her way to the top.
Ursula joined Xerox in 1980, as a summer intern in the mechanical engineering department. After completing her Masters degree in Mechanical Engineering from Columbia University in 1981, she became a full-time employee.
When named CEO in 2009, she became the first African-American woman to lead a Fortune 500 company. As CEO, Ursula Burns has led the company to yearly revenues of $23 billion. A wise $6.4 billion acquisition of Affiliated Computer Services, in July 2009, is expected to generate two-thirds of the company’s revenue by 2017.
Summary
Black History Month began in 1926 when Carter G. Woodson wrote a moving piece in The Journal of Negro History. He wrote: “If a race has no history, it has no worthwhile tradition, it becomes a negligible factor in the thought of the world, and it stands in danger of being exterminated.” With leaders such as these (mentioned above), Black Future seems to be brighter than ever.
