Black Entrepreneurs That You Should Know About
1. Maggie Lena Walker
The first African-American woman in the U.S. to charter a bank: St. Luke Penny Savings Bank. And, she was also a champion of women and African-American rights as she held numerous high-ranking positions in organization’s such as the National Association of Colored Women (NACW) and the National Association for the Advancement of Colored People (NAACP), just to name a few.
2. Frederick Patterson & Charles Richard Patterson
The first African-American to manufacture cars. He and his father Charles Richard Patterson co-founded what was known as C.R. Patterson and Son Company, a carriage service. The brand later evolved into the “Patterson-Greenfield” car that rivaled Henry Fords’ “Model T.”
3. Annie Malone
One of the first black female millionaire’s, prominent businesswoman, philanthropist and entrepreneur. She founded “Poro College,” which was a commercial and educational business that was designed to teach African-American women about cosmetics. She also developed a chemical straightener that prevented damage to the hair and scalp.
4. Charles Clinton Spaulding, Aaron McDuffie Moore, John Merrick
The three founders of the first and largest life insurance firm: North Carolina Mutual Life Insurance Company. They were among the black leaders flourishing in Durham, N.C., making up what was known as the “Black Wall Street.”
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5. Clara Brown
An ex-slave who found her talents in entrepreneurship as she led a successful laundry business that afforded her the capital and opportunity to invest in various real estate ventures in Colorado. It is said that she owned 16 lots in Denver, and seven houses in Central City.
6. Benjamin Banneker
The architect/brain behind America’s first clock that “struck the hour,” for over 20 years. He also is the mathematician behind the accurate prediction of the solar eclipse that occurred in the year 1789.
7. George Thomas Downing
The young restaurateur owned a successful dining space called the “Sea-Girt Luxury Hotel,” and also managed the U.S. House of Representatives’ dining room in Washington, D.C. His role as the manager, afforded him close contact with politicians of the Antebellum period that ultimately helped in his efforts of lobbying for the desegregation of Newport, Va schools in 1865.
8. Sarah E. Goode
The first black woman to win a U.S. patent, for her invention of the “foldaway bed.” Goode and her husband Archibald led a thriving custom furniture business in Chicago.
9. Granville T. Woods
Referred to as the “Black Edison,” Woods invented the railroad telegraph, and also founded his own company in Cincinnati, called “Woods Electric Company.” In his lifetime he received close to 60 patents and invented 15 different appliances for electric railways.
10. Garrett Morgan
The innovator who invented the gas mask, three-way traffic light, received a patent to improve the sewing machine and created the first chemical hair straightener. Morgan had his hands in a little bit of everything!
11. Earl G. Graves Sr.
The man who founded Black Enterprise magazine, the “premier business, investing, and wealth-building resource for African-Americans.” He was also appointed by President George W. Bush to serve on the Presidential Commission for the National Museum of African American History and Culture, among other accolades.
12. Reginald F. Lewis
Most notably known as the first African-American business owner to build a billion dollar company, Beatrice Foods, Lewis was also a Harvard Law graduate and very successful finance executive.
13. John H. Johnson
The founder of the largest black-owned publishing company in the U.S., Johnson has produced brands such as: Negro’s Digest, Jet, and Ebony, giving black people a voice when they were silenced in mainstream media at the time. He also was the first African-American to appear in Forbes’ 400 wealthiest American’s list.
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