Robert L. Johnson
First African American Billionaire, first African-American owned company on NYSE
Robert Louis Johnson, born on April 8, 1946, in Hickory, Mississippi, is a highly successful American entrepreneur and media mogul. Best known as the founder of Black Entertainment Television (BET), Johnson made history by creating the first cable television network targeting an African American audience. After earning degrees in social studies and international affairs from Princeton University, he began his career in government before venturing into the media industry.
In 1980, Johnson founded BET with a modest $15,000 loan, initially starting as a two-hour weekly cable television show. However, his tenacity and business acumen quickly transformed BET into a groundbreaking cable channel, providing a platform for African American voices in entertainment, news, and music.
Under Johnson's leadership, BET expanded its influence and became one of the most-watched cable networks in the United States. In 1991, he achieved a historic milestone by becoming the first African American billionaire, selling BET to Viacom for $3 billion. Additionally, Johnson's legacy includes establishing the first black-owned company on the New York Stock Exchange (NYSE), solidifying his impact on the business world and African American representation in the media landscape.
Beyond his success in media, Johnson has ventured into various business sectors, including sports team ownership. He was the principal owner of the NBA team Charlotte Bobcats. Throughout his career, Johnson has been an active philanthropist and engaged in political activities, receiving numerous awards and honors for his business and community service contributions.