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Sep 19, 2020 · I asked three self-made Black millionaires how they made their money and what they want other Black Americans to know about building wealth.
- William Leidesdorff
- John Stanly
- Jeremiah Hamilton
- Mary Ellen Pleasant
- Robert Reed Church
- Madam C.J. Walker
- Daniel Murray
- Scholarship Around Black Capitalism
- The Bottom Line
William Alexander Leidesdorff (1810-1848) was likely America's first Black millionaire. Leidesdorff, who had immigrated to the U.S. from the Danish West Indies, owned the first steamship in San Francisco Bay. He also accomplished a list of other notable firsts, including setting up the first public school in California, as well as creating the firs...
John Carruthers Stanly (1774-1845) was a mixed-race former slave who himself became perhaps the biggest slaveowner in North Carolina. Upon being freed, Stanly became a barber, a relatively stable trade at that time. Eventually, he was able to purchase his wife and children's freedom. Stanly would come to own two plantations on Bachelor's Creek alon...
Jeremiah Hamilton (1806-1875), "Wall Street's first Black trader," made his fortune in New York in the 19th century. Not much is known about Hamilton's early life, but he immigrated to New York after fleeing Haiti, where he was helping to bring in counterfeit coins for a consortium of New York merchants. Litigious, secretive, and shrewd, Hamilton c...
Mary Ellen Pleasant (1815-1904) was the most powerful Black woman operating in San Francisco in the heat of California's Gold Rush. She may have been born a slave, but by the 1820s,she was living in New England and was involved with the Underground Railroad. While there, she married James Smith, who left her a significant amount of money upon his d...
Robert Reed Church, Sr. (1839-1912), was born to a White steamboat captain and an enslaved seamstress in Mississippi. Reed was enslaved after being captured while serving as a steward on the Victona steamer during the Civil War. After being freed, he settled in Memphis. He made his money primarily in real estate, but he also ran a hotel and other b...
The title of millionaire serves a financial, technical designation and also a cultural one. It denotes someone with an unusually high net worth who enjoys the freedoms and pleasures associated with that net worth. Madam C.J. Walker (1867-1919), who started life as a Louisiana sharecropper born to formerly enslaved parents in 1867, is usually cited ...
Daniel A.P. Murray (1852-1925) was a librarian at the Library of Congress for more than a half-century. Murray climbed the social order of Washington, D.C., after catching the attention of a senator and a Librarian of Congress. Eventually, he made a fortune as a business owner and developer. Murray is mostly remembered now for advancing the literar...
Until relatively recently, historical accounts neglected the role Black businesspeople played in the creation of American capitalism. Black business was an object of study for writers like W.E.B. Du Bois, with high points in the second half of the 20th century. Nonetheless, prior to Juliet Walker’s 1998 book, "The History of Black Business in Ameri...
Black Americans have an entrepreneurial tradition stretching back into slavery and a distinguished list of early millionaires, beginning in the 19th century. Nevertheless, the racial wealth gappersists. But perhaps the 21st century will finally see it disappear as there is now a growing list of Black millionaires and even some billionaires.
Feb 14, 2024 · These Black investors are known for their extraordinary accomplishments, with some achieving success at a time when few Black people worked in finance.
Nov 27, 2017 · Wealthy black people account for 4% of the nation's top-earning households and the wealth gap between them and the average black person is staggering. Here are the habits of millionaires.
Feb 16, 2018 · Daymond John. Multi-millionaire marketing mogul and ABC Shark Tank investor can also teach up-and-coming entrepreneurs something about perseverance. He launched his clothing line, Fubu, in...
Sep 21, 2023 · KAZMALEJE. LaToya Stirrup and her sisters took the idea of finger detangling and applied it to their KAZMALEJE hair tools. After years of long wash days and excessive hair shedding, the sisters...
