The Richest Black Owned Businesses of All Time (And How Much They’ve Made) - Page 7
From billion dollar tech firms to legendary media empires, these businesses have generated billions in revenue while creating jobs, wealth, and opportunities for future generations. Here's a look....
Black-owned businesses span diverse industries, from tech to beauty, generating over $100 billion annually.
Pioneering entrepreneurs like Oprah and Tyler Perry built multi-billion dollar empires through innovation and vision.
These companies demonstrate the power of Black entrepreneurship to create lasting impact and inspire future leaders.
Source: Scott Olson / Getty
15 of the Richest Black Owned Businesses of All Time (And How Much They’ve Made)
Black entrepreneurs have built some of the most influential companies in the world, spanning technology, media, entertainment, finance, manufacturing, beauty, and staffing. From billion dollar tech firms to legendary media empires, these businesses have generated billions in revenue while creating jobs, wealth, and opportunities for future generations.
Here’s a look at 15 of the richest Black owned businesses of all time and how much money they’ve generated.
World Wide Technology (WWT) is the largest Black owned business in the United States. The company provides IT solutions, cloud computing, cybersecurity, AI, and digital transformation services to Fortune 500 companies, government agencies, and professional sports organizations around the world. Forbes estimates founder David Steward’s fortune at more than $12 billion, while WWT now generates approximately $20 billion in yearly revenue.
2. Dangote Group
Founder: Aliko Dangote Industry: Manufacturing
Estimated Revenue:$15+ billion annually
Nigeria’s Dangote Group manufactures cement, sugar, fertilizer, food products, and petroleum. It is Africa’s largest industrial conglomerate, and the company’s massive refinery has helped make Aliko Dangote the richest Black person in the world.
3. Vista Equity Partners
Founder: Robert F. Smith Industry: Private Equity
Assets Under Management:Over $100 billion
Rather than selling products, Vista Equity invests in enterprise software companies. The firm manages more than $100 billion in assets and has become one of the most successful private equity firms in the world
4. ActOne Group
Founder: Janice Bryant Howroyd Industry: Staffing
Estimated Revenue:Nearly $3 billion annually
ActOne became the first Black woman owned company in U.S. history to surpass $1 billion in annual revenue. Today, the workforce management company operates in nearly 20 countries serving thousands of clients worldwide.
5. Tyler Perry Studios
Founder: Tyler Perry Industry: Entertainment
Estimated Business Value:Billions
Tyler Perry Studios sits on more than 330 acres in Atlanta and has become one of the largest film production facilities in America. Combined with Perry’s ownership of his film and television catalog, the business has helped him build a fortune exceeding $1 billion.
6. BET (Black Entertainment Television)
Founders: Robert L. Johnson and Sheila Johnson Industry: Media
BET changed television history by becoming the first cable network dedicated to Black audiences. The network was sold to Viacom in 2000 for approximately $2.9 billion, making Robert L. Johnson America’s first Black billionaire.
7. RLJ Companies
Founder: Robert L. Johnson Industry: Investment Holdings
Estimated Portfolio:Billions
Following the sale of BET, Johnson launched RLJ Companies, investing in hotels, financial services, private equity, automotive businesses, and real estate across the United States.
8. Harpo Productions
Founder: Oprah Winfrey Industry: Media
Estimated Lifetime Revenue:Billions
Harpo Productions created “The Oprah Winfrey Show,” one of the most successful talk shows in television history. Oprah expanded the company into magazines, film production, publishing, and cable television through OWN, helping build a multi billion dollar empire.
9. FUBU
Founder: Daymond John
Industry: Fashion
Estimated Lifetime Sales:More than $6 billion
FUBU exploded during the 1990s and early 2000s, becoming one of the most recognizable streetwear brands in the world. At its peak, the company surpassed billions in global retail sales.
10. Roc Nation
Founder: Jay-Z
Industry: Entertainment
Estimated Value:Hundreds of millions to over $1 billion
Roc Nation has grown into a powerhouse in artist management, sports representation, music publishing, and entertainment production, representing some of the biggest names in sports and music.
11. Johnson Products Company
Founder: George E. Johnson
Industry: Beauty
Estimated Lifetime Revenue:Hundreds of millions
Johnson Products became the first Black owned company listed on the American Stock Exchange and introduced iconic brands like Ultra Sheen and Afro Sheen that transformed the Black hair care industry.
12. Madam C.J. Walker Manufacturing Company
Founder: Madam C.J. Walker
Industry: Beauty
Estimated Value Today:Equivalent to hundreds of millions
Founded in the early 1900s, Walker’s company made her America’s first self made female millionaire and laid the foundation for today’s Black beauty industry
13. Essence Communications
Founders: Edward Lewis, Clarence Smith, Cecil Hollingsworth, and Jonathan Blount
Industry: Publishing
Estimated Business Value:Hundreds of millions
Essence magazine became the leading publication for Black women in America before expanding into digital media, live events, and the nationally recognized ESSENCE Festival.
14. Black Entertainment Studios (BET+)
Major Owner: Tyler Perry (25% stake)
Industry: Streaming
Estimated Value:Hundreds of millions
BET+ has become one of the fastest growing streaming services focused on Black storytelling, with Tyler Perry serving as both a major content creator and equity owner.
15. Carol’s Daughter
Founder: Lisa Price
Industry: Beauty
Acquired By:L’Oréal
What began as homemade beauty products sold from a Brooklyn kitchen grew into one of the most recognizable natural hair and skincare brands before being acquired by L’Oréal, becoming a major success story for Black entrepreneurship.
These companies prove that Black entrepreneurship has shaped industries around the globe. Together, they’ve generated well over $100 billion in annual revenue, assets, or business value, while creating millions of jobs and inspiring generations of future business owners.
Whether in technology, media, manufacturing, beauty, finance, or entertainment, these businesses continue to demonstrate that innovation, ownership, and long term vision can create lasting wealth and impact.
