10 Most Successful African-American CEOs of All Time
by Staff Writer
America has long been a melting pot of different cultures, ethnicities, religions, and creeds. And with African-Americans historically being underrepesented in centers of power due to years of oppression, a celebration of African-American businesspeople is warranted. One of the most diverse groups in terms of methods of accruing wealth, here you'll find the ten most successful African-American CEOs of all time.
With her aptly acronymed television network, Oprah, in a word, OWNs. America's most beloved talk-show host, book club president, actress, producer, magazine owner, satellite radio station owner, philanthropist, lifestyle guru, and single-handed president picker, Oprah was raised being taunted for having to wear potato-sack dresses because of her poverty. Now, if she sneezes, the market moves. Not only the best businesswoman and alpha-female in the entire world, Oprah revolutionizes every industry that she touches, including politics — her unwavering support of President Obama absolutely helped to influence his 2008 election. People everywhere know her truth: if Oprah likes it, it's good.
Here's something good to come out of Penn State: Kenneth Frazier, CEO of Merck & Co., Inc. He's the first African-American CEO of a pharmaceutical company, and only the second lawyer to become a CEO of big pharma. A champion of innovation and an all-around good guy, Frazier is also a successful pro bono lawyer, and the man responsible for the release of a wrongly accused Alabama man from death row. While at Penn State, he worked in a local aquarium, selling newts and tadpoles; now he's in charge of one of the distributors of birth control and tetanus shots. All in all, not a bad move.
Women have it hard. African-American women have it harder. African-American businesswomen have it triple tough, and that's just the truth. A first-generation American citizen and raised in the housing projects of New York City, Ursula Burns defied many odds and, as of 2009, is the CEO of paper and copy giant Xerox. Ranked as the 14th most powerful woman in the world, Ursula Burns is no stranger to back-breaking work as a means of rising through the ranks — she began her tenure with Xerox as a summer intern in 1980. Contrasting fearlessness with recklessness, she is passionately focused on growth for the company.
Not only is he named after one of the most prolific blues musicians of all time, Robert L. Johnson is a true influencer of American culture and the first African-American billionaire. The former CEO of Black Entertainment Television provided for the world a voice and a vehicle for all things African-American: television shows, hip-hop, R&B, soul, and movies. Additionally, Johnson was the first African-American to head a company listed on the New York Stock Exchange. Part owner of the Charlotte Bobcats, along with rapper Nelly and basketball giant Michael Jordan, his life and style beg the question: with friends like those, who needs…other friends?
The CEO of the eponymous Dangote group, this Nigerian businessman is the richest person of African descent in the world. Contributing to the development of Nigeria with the largest industrial conglomerate in West Africa, the Dangote Group employs upwards of 11,000 people, dealing with industries such as sugar refining, flour mills, food distribution, and cement. Also a heavy contributor to political parties in the region, Dangote's businesses account for one-fourth of the Nigerian Stock Exchange.
Give it up for the man who produced the The Beastie Boys, Will Smith, LL Cool J, and everyone else that you can think of from the annals of rap history. The original hip-hop mogul and pioneer of the genre and its subsequent entrepreneurial spin-offs, Russell Simmons is as much activist and spiritual practitioner as he is CEO. Whether he's founding Def Jam records, marrying a super model, and seeking enlightenment, Russell Simmons has his hands in much of the entertainment that we hold dear today.
The Artist Formerly known as Prince's radical name-to-symbol has gotnothingon this guy. The richest and one of the most successful figures in hip-hop, unless you're as B.I.G. as him, he won't be missing you. From the projects to his own projects as CEO of Bad Boy Entertainment and Sean John Clothing, Combs has been a recording executive, producer, rapper, actor, entrepreneur, and a man of many names.
Also known as Sarah Breedlove, Madam Walker was the first American woman to become a millionaire for her own achievements. Experiencing hair loss at an early age, she experimented with home products until she developed a workable salve. Parlaying her $1.50-a-day job as a washer into a hair-care empire in only 12 years time, this fascinating 19th-20th century mogul is a true inspiration and pioneer for African-Americans and businesswomen everywhere. Walker used her money to forward anti-lynching campaigns and black education, dying in 1919 at the age of 51.
The third African-American CEO of a Fortune 500 company, Kenneth Chenault has been the CEO of American Express since 2001. Another lawyer turned CEO, Chenault worked his way through the ranks at American Express — beginning in 1981. Also an active public servant and recipient of the prestigious Third Lantern Award, Kenneth Chenault has been likened to perennially successful business magnate, Jack Welch.
Rap and hip-hop can't be stopped! Producing some of the most financially successful CEOs of all time, you also have to give the industry credit for producing some of the greatest stories of all time. Another African-American born into impoverished American housing projects, Jay-Z is the current CEO of Roc Nation and his net worth is an estimated $450 million. Also, he's married to one of the hottest female entertainers of all time, and they just had a new baby. Rumor also has it that he and Beyonce are planning to shoot a music video…in space.
Editor's note: For those who are wondering about the retro title of this black history series, please take a moment to learn about historian Joel A. Rogers, author of the 1934 book 100 Amazing Facts About the Negro With Complete Proof, to whom these "amazing facts" are an homage.
(The Root) — 100 Amazing Facts About the Negro No. 21: Did black people own slaves? If so, why?
One of the most vexing questions in African-American history is whether free African Americans themselves owned slaves. The short answer to this question, as you might suspect, is yes, of course; some free black people in this country bought and sold other black people, and did so at least since 1654, continuing to do so right through the Civil War. For me, the really fascinating questions about black slave-owning are how many black "masters" were involved, how many slaves did they own and why did they own slaves?
The answers to these questions are complex, and historians have been arguing for some time over whether free blacks purchased family members as slaves in order to protect them — motivated, on the one hand, by benevolence and philanthropy, as historian Carter G. Woodson put it, or whether, on the other hand, they purchased other black people "as an act of exploitation," primarily to exploit their free labor for profit, just as white slave owners did. The evidence shows that, unfortunately, both things are true. The great African-American historian, John Hope Franklin, states this clearly: "The majority of Negro owners of slaves had some personal interest in their property." But, he admits, "There were instances, however, in which free Negroes had a real economic interest in the institution of slavery and held slaves in order to improve their economic status."
In a fascinating essay reviewing this controversy, R. Halliburton shows that free black people have owned slaves "in each of the thirteen original states and later in every state that countenanced slavery," at least since Anthony Johnson and his wife Mary went to court in Virginia in 1654 to obtain the services of their indentured servant, a black man, John Castor, for life.
And for a time, free black people could even "own" the services of white indentured servants in Virginia as well. Free blacks owned slaves in Boston by 1724 and in Connecticut by 1783; by 1790, 48 black people in Maryland owned 143 slaves. One particularly notorious black Maryland farmer named Nat Butler "regularly purchased and sold Negroes for the Southern trade," Halliburton wrote.
Perhaps the most insidious or desperate attempt to defend the right of black people to own slaves was the statement made on the eve of the Civil War by a group of free people of color in New Orleans, offering their services to the Confederacy, in part because they were fearful for their own enslavement: "The free colored population [native] of Louisiana … own slaves, and they are dearly attached to their native land … and they are ready to shed their blood for her defense. They have no sympathy for abolitionism; no love for the North, but they have plenty for Louisiana … They will fight for her in 1861 as they fought [to defend New Orleans from the British] in 1814-1815."
These guys were, to put it bluntly, opportunists par excellence: As Noah Andre Trudeau and James G. Hollandsworth Jr. explain, once the war broke out, some of these same black men formed 14 companies of a militia composed of 440 men and were organized by the governor in May 1861 into "the Native Guards, Louisiana," swearing to fight to defend the Confederacy. Although given no combat role, the Guards — reaching a peak of 1,000 volunteers — became the first Civil War unit to appoint black officers.
When New Orleans fell in late April 1862 to the Union, about 10 percent of these men, not missing a beat, now formed the Native Guard/Corps d'Afrique to defend the Union. Joel A. Rogers noted this phenomenon in his 100 Amazing Facts: "The Negro slave-holders, like the white ones, fought to keep their chattels in the Civil War." Rogers also notes that some black men, including those in New Orleans at the outbreak of the War, "fought to perpetuate slavery."
How Many Slaves Did Blacks Own?
So what do the actual numbers of black slave owners and their slaves tell us? In 1830, the year most carefully studied by Carter G. Woodson, about 13.7 percent (319,599) of the black population was free. Of these, 3,776 free Negroes owned 12,907 slaves, out of a total of 2,009,043 slaves owned in the entire United States, so the numbers of slaves owned by black people over all was quite small by comparison with the number owned by white people. In his essay, " 'The Known World' of Free Black Slaveholders," Thomas J. Pressly, using Woodson's statistics, calculated that 54 (or about 1 percent) of these black slave owners in 1830 owned between 20 and 84 slaves; 172 (about 4 percent) owned between 10 to 19 slaves; and 3,550 (about 94 percent) each owned between 1 and 9 slaves. Crucially, 42 percent owned just one slave.
Pressly also shows that the percentage of free black slave owners as the total number of free black heads of families was quite high in several states, namely 43 percent in South Carolina, 40 percent in Louisiana, 26 percent in Mississippi, 25 percent in Alabama and 20 percent in Georgia. So why did these free black people own these slaves?
It is reasonable to assume that the 42 percent of the free black slave owners who owned just one slave probably owned a family member to protect that person, as did many of the other black slave owners who owned only slightly larger numbers of slaves. As Woodson put it in 1924's Free Negro Owners of Slaves in the United States in 1830, "The census records show that the majority of the Negro owners of slaves were such from the point of view of philanthropy. In many instances the husband purchased the wife or vice versa … Slaves of Negroes were in some cases the children of a free father who had purchased his wife. If he did not thereafter emancipate the mother, as so many such husbands failed to do, his own children were born his slaves and were thus reported to the numerators."
Moreover, Woodson explains, "Benevolent Negroes often purchased slaves to make their lot easier by granting them their freedom for a nominal sum, or by permitting them to work it out on liberal terms." In other words, these black slave-owners, the clear majority, cleverly used the system of slavery to protect their loved ones. That's the good news.
But not all did, and that is the bad news. Halliburton concludes, after examining the evidence, that "it would be a serious mistake to automatically assume that free blacks owned their spouse or children only for benevolent purposes." Woodson himself notes that a "small number of slaves, however, does not always signify benevolence on the part of the owner." And John Hope Franklin notes that in North Carolina, "Without doubt, there were those who possessed slaves for the purpose of advancing their [own] well-being … these Negro slaveholders were more interested in making their farms or carpenter-shops 'pay' than they were in treating their slaves humanely." For these black slaveholders, he concludes, "there was some effort to conform to the pattern established by the dominant slaveholding group within the State in the effort to elevate themselves to a position of respect and privilege." In other words, most black slave owners probably owned family members to protect them, but far too many turned to slavery to exploit the labor of other black people for profit.
Who Were These Black Slave Owners?
If we were compiling a "Rogues Gallery of Black History," the following free black slaveholders would be in it:
John Carruthers Stanly — born a slave in Craven County, N.C., the son of an Igbo mother and her master, John Wright Stanly — became an extraordinarily successful barber and speculator in real estate in New Bern. As Loren Schweninger points out inBlack Property Owners in the South, 1790-1915, by the early 1820s, Stanly owned three plantations and 163 slaves, and even hired three white overseers to manage his property! He fathered six children with a slave woman named Kitty, and he eventually freed them. Stanly lost his estate when a loan for $14,962 he had co-signed with his white half brother, John, came due. After his brother's stroke, the loan was Stanly's sole responsibility, and he was unable to pay it.
William Ellison's fascinating story is told by Michael Johnson and James L. Roark in their book, Black Masters: A Free Family of Color in the Old South. At his death on the eve of the Civil War, Ellison was wealthier than nine out of 10 white people in South Carolina. He was born in 1790 as a slave on a plantation in the Fairfield District of the state, far up country from Charleston. In 1816, at the age of 26, he bought his own freedom, and soon bought his wife and their child. In 1822, he opened his own cotton gin, and soon became quite wealthy. By his death in 1860, he owned 900 acres of land and 63 slaves. Not one of his slaves was allowed to purchase his or her own freedom.
Louisiana, as we have seen, was its own bizarre world of color, class, caste and slavery. By 1830, in Louisiana, several black people there owned a large number of slaves, including the following: In Pointe Coupee Parish alone, Sophie Delhonde owned 38 slaves; Lefroix Decuire owned 59 slaves; Antoine Decuire owned 70 slaves; Leandre Severin owned 60 slaves; and Victor Duperon owned 10. In St. John the Baptist Parish, Victoire Deslondes owned 52 slaves; in Plaquemine Brule, Martin Donatto owned 75 slaves; in Bayou Teche, Jean B. Muillion owned 52 slaves; Martin Lenormand in St. Martin Parish owned 44 slaves; Verret Polen in West Baton Rouge Parish owned 69 slaves; Francis Jerod in Washita Parish owned 33 slaves; and Cecee McCarty in the Upper Suburbs of New Orleans owned 32 slaves. Incredibly, the 13 members of the Metoyer family in Natchitoches Parish — including Nicolas Augustin Metoyer, pictured — collectively owned 215 slaves.
Antoine Dubuclet and his wife Claire Pollard owned more than 70 slaves in Iberville Parish when they married. According to Thomas Clarkin, by 1864, in the midst of the Civil War, they owned 100 slaves, worth $94,700. During Reconstruction, he became the state's first black treasurer, serving between 1868 and 1878.
Andrew Durnford was a sugar planter and a physician who owned the St. Rosalie plantation, 33 miles south of New Orleans. In the late 1820s, David O. Whitten tells us, he paid $7,000 for seven male slaves, five females and two children. He traveled all the way to Virginia in the 1830s and purchased 24 more. Eventually, he would own 77 slaves. When a fellow Creole slave owner liberated 85 of his slaves and shipped them off to Liberia, Durnford commented that he couldn't do that, because "self interest is too strongly rooted in the bosom of all that breathes the American atmosphere."
It would be a mistake to think that large black slaveholders were only men. In 1830, in Louisiana, the aforementioned Madame Antoine Dublucet owned 44 slaves, and Madame Ciprien Ricard owned 35 slaves, Louise Divivier owned 17 slaves, Genevieve Rigobert owned 16 slaves and Rose Lanoix and Caroline Miller both owned 13 slaves, while over in Georgia, Betsey Perry owned 25 slaves. According to Johnson and Roark, the wealthiest black person in Charleston, S.C., in 1860 was Maria Weston, who owned 14 slaves and property valued at more than $40,000, at a time when the average white man earned about $100 a year. (The city's largest black slaveholders, though, were Justus Angel and Mistress L. Horry, both of whom owned 84 slaves.)
In Savannah, Ga., between 1823 and 1828, according to Betty Wood's Gender, Race, and Rank in a Revolutionary Age, Hannah Leion owned nine slaves, while the largest slaveholder in 1860 was Ciprien Ricard, who had a sugarcane plantation in Louisiana and owned 152 slaves with her son, Pierre — many more that the 35 she owned in 1830. According to economic historian Stanley Engerman, "In Charleston, South Carolina about 42 percent of free blacks owned slaves in 1850, and about 64 percent of these slaveholders were women." Greed, in other words, was gender-blind.
Why They Owned Slaves
These men and women, from William Stanly to Madame Ciprien Ricard, were among the largest free Negro slaveholders, and their motivations were neither benevolent nor philanthropic. One would be hard-pressed to account for their ownership of such large numbers of slaves except as avaricious, rapacious, acquisitive and predatory.
But lest we romanticize all of those small black slave owners who ostensibly purchased family members only for humanitarian reasons, even in these cases the evidence can be problematic. Halliburton, citing examples from an essay in the North American Review by Calvin Wilson in 1905, presents some hair-raising challenges to the idea that black people who owned their own family members always treated them well:
A free black in Trimble County, Kentucky, " … sold his own son and daughter South, one for $1,000, the other for $1,200." … A Maryland father sold his slave children in order to purchase his wife. A Columbus, Georgia, black woman — Dilsey Pope — owned her husband. "He offended her in some way and she sold him … " Fanny Canady of Louisville, Kentucky, owned her husband Jim — a drunken cobbler — whom she threatened to "sell down the river." At New Bern, North Carolina, a free black wife and son purchased their slave husband-father. When the newly bought father criticized his son, the son sold him to a slave trader. The son boasted afterward that "the old man had gone to the corn fields about New Orleans where they might learn him some manners."
Carter Woodson, too, tells us that some of the husbands who purchased their spouses "were not anxious to liberate their wives immediately. They considered it advisable to put them on probation for a few years, and if they did not find them satisfactory they would sell their wives as other slave holders disposed of Negroes." He then relates the example of a black man, a shoemaker in Charleston, S.C., who purchased his wife for $700. But "on finding her hard to please, he sold her a few months thereafter for $750, gaining $50 by the transaction."
Most of us will find the news that some black people bought and sold other black people for profit quite distressing, as well we should. But given the long history of class divisions in the black community, which Martin R. Delany as early as the 1850s described as "a nation within a nation," and given the role of African elites in the long history of the Trans-Atlantic slave trade, perhaps we should not be surprised that we can find examples throughout black history of just about every sort of human behavior, from the most noble to the most heinous, that we find in any other people's history.
The good news, scholars agree, is that by 1860 the number of free blacks owning slaves had markedly decreased from 1830. In fact, Loren Schweninger concludes that by the eve of the Civil War, "the phenomenon of free blacks owning slaves had nearly disappeared" in the Upper South, even if it had not in places such as Louisiana in the Lower South. Nevertheless, it is a very sad aspect of African-American history that slavery sometimes could be a colorblind affair, and that the evil business of owning another human being could manifest itself in both males and females, and in black as well as white.
As always, you can find more "Amazing Facts About the Negro" on The Root, and check back each week as we count to 100.
Henry Louis Gates Jr. is the Alphonse Fletcher University Professor and the director of the W.E.B. Du Bois Institute for African and African-American Research at Harvard University. He is also the editor-in-chief of The Root. Follow him on Twitter.