Print Posted By AfroSphere Marketplace on 12/05/2020 in News

10 Famous African American Business Leaders Who Changed the World

These famous African American business leaders – past and present – haven't only changed their industries but also the business world as an entire.

African Americans are historically underrepresented within the business world. Many throughout history failed to receive proper credit for his or her roles in revolutionizing industries. These famous African Americans of both past and present haven't only changed their particular industry but have changed the business world as an entire.

Oprah Winfrey - Image source (Oprah 2020 Vision Tour)

Oprah is one of the most famous African Americans of all time and one of the highest-paid celebrities. She transformed the face of media and revolutionized daytime talk shows with The Oprah Winfrey Show, which aired for 25 seasons. Oprah Winfrey has transitioned her hit talk show, which ran for 25 years, into a media and business empire. She is one of the savviest businesswomen in the world with a hand in television, magazine publication, radio, acting, producing, and more. She has donated $425 million throughout her career, including over $100 million to the Oprah Winfrey Leadership Academy for Girls in South Africa.

Robert F. Smith(Image Source: Vista Equity)
Robert F. Smith is the Founder, Chairman, and CEO of Vista Equity Partners. He directs Vista’s investment strategy and decisions, governance, and investor relations. Vista currently manages equity assets under management of over $73 billion and oversees a portfolio of more than 60 enterprise software, data, and technology-enabled companies that employ over 70,000 people worldwide. Since Vista’s inception, Mr. Smith has supervised over 455 completed transactions representing more than $155 billion in aggregate transaction value. During a commencement speech, Smith vowed to wipe out the student debt of the entire 2019 graduating class of Morehouse College.

Madam C.J. Walker(Image by Scurlock Studio Washington DC)
Madam C. J. Walker was the first American woman to achieve millionaire status in her own right. After suffering from hair loss, she developed a line of products specifically for black women in 1905. She traveled the country giving lectures and demonstrations with her products. By 1908, she opened her first factory and raked in millions in profits.

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Michael Jordan - (Image Source: Photo by Omar Vega / AP Images for Jordan Brand)

Regarded by most as the NBA's greatest all-time player, Michael Jordan won six titles with the Chicago Bulls. Michael Jordan not only changed the game of basketball, but he helped to revolutionize the way people buy basketball shoes. His shoes outsell those of other stars despite the fact that he’s been out of the game for over a decade. His total playing salary during his career totaled $90 million, but he has earned another $1.8 billion (pre-tax) from corporate partners. Additionally, he purchased a majority stake in the Charlotte Hornets in 2010, making him the second African American majority owner of an NBA franchise.

Ursula Burns - (Image Source: World Finance)
Ursula Burns made history as the first African American woman to lead a Fortune 500 company when she became CEO of Xerox in 2009. Her journey from a tough childhood in public housing to the top of this multibillion-dollar organization is an inspirational one for many. She started as a summer intern with Xerox in 1980 and worked her way to the top. Shortly thereafter, she made the largest acquisition in the company’s history with the purchase of Applied Computer Sciences.

Sean Combs - (Image Source: Forbes)
The artist is formerly known as Puff Daddy now makes the bulk of his bucks on booze, particularly his partnership with Diageo's Ciroc vodka. More than a rapper and recording executive, Sean Combs earned most of his fortune through entrepreneurial endeavors. He is in charge of all of the business operations under Bad Boy Entertainment Worldwide, which includes clothing lines, restaurants, and a movie production company among other outfits.

Annie Turbo Malone - (Image Source: The Southern News)

Annie Malone was born in 1869, in Metropolis, Illinois, to formerly enslaved parents and orphaned at a young age. She developed a method for straightening hair without damaging the hair or scalp. She had assistants who helped her sell products door to door. Once her Poro Method got off the ground and gained popularity, she founded Poro College, the first educational institution to focus on black cosmetology.

Russel Simmons - (Image Source Tommy Hilfiger)

Russell Simmons is an entrepreneur with the Midas touch. He co-founded Def Jam Records, which essentially created the hip-hop revolution and produced some of the most successful hip-hop artists of all time. He took hip-hop beyond music with his development of the clothing line Phat Farm.

Clara Brown - (Image Source: National Museum of African American History)
Clara Brown was a freed slave who saw an opportunity during the Gold Rush. She moved west in search of her family and started a laundry business to earn money. Her success earned her enough to invest in real estate and gold mines. She spread her good fortune to those in need and helped other freed slaves get back on their feet.

Kenneth C. Frazier - (Image Source: MERCK)

In 2010, Kenneth Frazier became the first African American CEO of a pharmaceutical company. He refused to cut research and development spending like other drug companies did. This unpopular move led to the company’s first dividend increase in several years.

Whether in the small-business world or the corporate world, these famous African American business leaders made a big impact. They used their ideas to revolutionize their industries and influence and inspire millions of people around the world in the process.

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10 Famous African American Business Leaders Who Changed the World

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