To own a business and be the master of your fate is the American Dream. Now more than ever, entrepreneurs-in-training are taking steps make a name for themselves in the business world. And out of all these hopeful business owners, it’s African-American women who happen to be the fastest growing group of entrepreneurs in America.
These businesswomen are using their know-how, passion, and innovation to positively change the world through their organizations. Here are some of the most prosperous black women who have made their entrepreneurial dreams a reality.
1. Tina Knowles
She isn’t just the mother of the biggest musical act in the world— Tina Knowles has always had a passion for entrepreneurship. Before Beyoncé rose to fame, her mother was already flexing her business skills by opening hair salon Headliners in her home of Houston, Texas. A natural fashion designer, Ms. Knowles designed costumes for Destiny’s Child before launching two successful fashion lines, House of Dereon and Miss Tina. Her efforts have earned her a net worth of approximately $20 Million.
2. Janice Bryant Howroyd
Back in 1978, Janice Bryant Howroyd took a modest sum of $1,500, a small office, and a single telephone and founded staffing firm ACT-1. Now, after nearly 35 years, ACT-1 has grown to over 70 branches across the nation and into the largest American staffing company to be owned by a woman of color. Ms. Bryant Howroyd’s $1,500 investment has grown into a total net worth of $420 Million.
3. Lisa Price
Lisa Price’s start as an entrepreneur took place in the kitchen sink of her home in Brooklyn back in 1993. With just a $100 investment, she began mixing her own hair care products and selling the concoctions at churches, flea markets, and street fairs. Today, her company, Carol’s Daughter, is a highly successful line of home made natural beauty products and has netted the business woman a total worth of $12 Million.
4. Tyra Banks
Former Victoria Secret’s model Tyra Banks wasn’t content with just being in front of the camera. Ms. Banks started her own independent production company, Bankable Productions, and launched the incredibly popular model search reality show America’s Next Top Model. She also launched a cosmetic line, Tyra Beauty, and just graduated from Harvard Business school. All of her endeavours have led to a $90 Million net worth.
5. Sheila Johnson
Sheila Johnson had a dream to start an entertainment network that would essentially be the “Ebony Magazine of TV.” Partnering with her husband, she made her fortune by co-founding the BET cable network. She is also the first African-American woman to be an owner of three professional sports franchises— the Washington Capitals, the Washington Wizards, and the Washington Mystics— and started her own hotel company, Salamander Hospitality. Her savvy business sense has created a wealth of $710 Million.
6. Mara Brock Akil
Innovative writer and producer Mara Brok Akil is the brains behind hit TV shows such as Girlfriends, The Game, Cougar Town, and Being Mary Jane. Ms. Brock Akil also co-founded Akil Productions with her husband Salim Akil. Her creative storytelling and vision has earned her a net worth of $8 Million.
7. Kimora Lee Simmons
Kimora Lee Simmons seamlessly made the transition from fashion model to entrepreneur. For 10 years, Ms. Lee Simmons ran the show at mega successful fashion brand Baby Phat before deciding to launch the KLS Collection and KLS Design Group. Author, philanthropist, and head of her own perfume line, Ms. Lee Simmons is worth a net $50 Million.
8. Angela Benton
The creator of web-based startups Cued, BlackWeb 2.0 and NewMe Accelerator, Angela Benton is an internet entrepreneur who is changing the tech industry and acting as a facilitator for other minority-owned tech startups to launch their ideas. Her work in tech has made over a million dollars and created opportunities for so many others.
9. Oprah Winfrey
This list wouldn’t be complete without Oprah Winfrey, the third richest African American woman in the world. In the 80s she started Harpo Productions and later became the second-ever Black woman to start her own television network, OWN. She is also a philanthropist who started a school for girls in Africa and produces award-winning movies and television shows. Her net worth is an incredible $3.1 Billion.
These women have completely redefined the face of entrepreneurial success in America. If you ever need the inspiration to follow your dreams, look to these extraordinary women who’ve triumphantly made a place for themselves in the world of business.
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