We’re going to celebrate and learn from a woman who has broken barriers, shattered ceilings, and secured the bag. Her name is Sheila Johnson. Yes, you heard it right! Sheila Johnson, the first Black billionaire woman.
Now her name may or may not ring bells. The first thing that popped into my mind was BET. And if that popped in your too, you’re right that Sheila Johnson connected to Black Entertainment Television (BET).
Most people give Oprah this first Black billionaire woman title, but it actually belongs to Sheila.
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I love the study of billionaires as it is the pathway I’m on, so let’s dive in learn how she made her money, and pick up the nuggets for our implementation. This article will look at the two facets of Sheila as 1, her journey to success and 2, her entrepreneurial and philanthropic storylines once she hit that first Black billionaire woman mark.
We’ll especially take a close look at what black female entrepreneurs can learn from her choices.
Table of Contents
Sheila Johnson: The Journey to Success
Born on January 25, 1949, in Pennsylvania, Sheila Johnson’s journey to becoming the first Black billionaire woman is paved with hard work, perseverance, and an unwavering belief in herself. She is a co-founder of BET (Black Entertainment Television), a film producer, a philanthropist, and the owner of several sports teams [1].
The Birth of BET: A Game Changer in Media
The Vision Behind BET
The journey to success for Sheila Johnson began with the birth of BET (Black Entertainment Television), a venture she co-founded with her then-husband, Robert Johnson, in 1980. The creation of BET was not just a business venture, but a revolutionary move in the media landscape.
It was the first television network in the United States primarily targeted at African Americans, filling a significant void in the industry [1].
Filling the Void in Mainstream Media
The couple saw a need for a platform that would cater to the African American audience, a demographic that was largely overlooked by mainstream media at the time.
They envisioned a space where black culture, music, and issues could be highlighted and celebrated. This vision led to the creation of BET, which started as a two-hour block of music videos in the late-night slot on Nickelodeon [1].
Expanding the Programming
BET quickly gained popularity and expanded its programming to include not only music videos but also news, public affairs programs, interviews, sitcoms, dramas, and films that resonated with the African American community.
Shows like “Video Soul,” “Rap City,” and “106 & Park” became cultural touchstones, while news programs like “BET News” and “Teen Summit” provided much-needed representation and discussion of issues affecting the black community [1].
The Sale to Viacom
In 2001, the Johnsons made a monumental decision to sell BET to media conglomerate Viacom. The sale was valued at a staggering $3 billion, marking a significant milestone in African American business history. This deal catapulted Sheila and Robert Johnson into the billionaire’s club, making them the first African American billionaires [1].
And of course, making Sheila the first Black billionaire woman. Go, girl!
BET: More Than Just a Business Venture
The birth of BET was more than just the start of Sheila Johnson’s journey to becoming the first black billionaire woman. It was a game-changer in the media industry, paving the way for more diverse representation on television and setting a precedent for black-owned media enterprises.
Sheila Johnson: The Entrepreneur and Philanthropist
After her divorce from Robert Johnson, she ventured into new territories. She became a film producer, with notable films like “The Butler” and “A Powerful Noise” under her belt [4]. She also became the first African American woman to have ownership of three professional sports teams: the Washington Capitals (NHL), the Washington Wizards (NBA), and the Washington Mystics (WNBA) [1].
The Resort Entrepreneur
Sheila Johnson didn’t stop at sports and entertainment.
She ventured into the hospitality industry and became a successful resort entrepreneur. She is the CEO of Salamander Hotels and Resorts, a collection of luxurious properties that she oversees. These resorts are known for their elegance, comfort, and top-notch services [2].
Making a Difference
Sheila Johnson’s success is not just about her wealth; it’s about the impact she’s made.
She has used her influence and resources to uplift the black community and fight for social justice. She has donated millions to various causes, including education, healthcare, and arts programs [3].
One thing I’ve noticed is although she is the first Black billionaire woman, you almost wouldn’t know it. There’s very little flash or headlines I’ve heard about Sheila in this capacity. It’s clearly not about being in the billionaires club, it’s more about what you’re doing when you’ve got it.
Her work and impact is far-reaching. That’s making your money have an impact and have a purpose.
Lessons for Black Female Entrepreneurs from the first Black billionaire woman
Sheila Johnson’s journey offers invaluable lessons for Black female entrepreneurs. Here are some key takeaways from her story:
| Lesson | Description |
|---|---|
| Diversify Your Portfolio | Sheila Johnson didn’t limit herself to one industry. She ventured into film production, sports, and hospitality, proving that black women can succeed in any field [2][4]. |
| Believe in Your Vision | Sheila Johnson co-founded BET because she saw a need for a platform that catered to African Americans. Despite the challenges, she believed in her vision and made it a reality [1]. |
| Use Your Success to Uplift Others | Sheila Johnson has used her wealth and influence to uplift the black community and fight for social justice. She shows us that success is not just about personal gain, but about making a difference [3]. |
| Never Stop Learning | Sheila Johnson’s journey from BET co-founder to resort entrepreneur shows the importance of continuous learning and adapting to new industries [2]. |
| Resilience is Key | Sheila Johnson’s journey from BET co-founder to resort, entrepreneur, shows the importance of continuous learning and adapting to new industries [2]. |
The Legacy of Sheila Johnson
So, my dear sisters, as we celebrate Sheila Johnson, the first Black billionaire woman, let’s remember that her success is our success. Let’s remember that we, too, can break barriers and shatter glass ceilings.
Sheila has written a book, that’s on my reading list and that’s, Walk Through Fire: A Memoir of Love, Loss, and Triumph.
I’m envisioning that this book is filled with lessons and specific stories, that would be tremendously helpful and wisdom-filled in traveling not only a career destiny but a life destiny so I’m excited to dive in.
If you are excited about this book from the first Black billionaire woman, grab it here, and note that we at BWG get a small commission, with no cost to you that goes to continue to support the content we deliver to you.
Now my question to you is knowing this information, does it inspire you, what’s the next step? What’s the next move you’re making?
Sources:
[1]: Sheila Johnson – Wikipedia
[2]: Sheila Johnson: The Resort Entrepreneur – Forbes
[3]: Sheila Johnson: From Teacher to Billionaire – Investopedia
[4]: Sheila Johnson: A Powerful Noise – The Washington Post
[5]: Sheila Johnson: BET Co-Founder – BlackPast
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