In 2011, RLJ Lodging Trust sold 27.5 million shares at $18 each, raising $495 million in gross proceeds. The public offering took a hotel platform built by Thomas J. Baltimore Jr. and gave investors a way to own shares in…
Some of America’s largest Black fortunes are built around businesses that families own, control or have converted into investment capital. But family wealth is harder to measure than individual net worth. Private investments may not be disclosed, ownership can be…
In August 1992, the Orlando Magic signed rookie Shaquille O’Neal to a seven-year contract reported at $40 million. He was 20. The figure made clear how much the team valued his potential, but it did not mean he received $40…
In 2023, Black-owned employer firms in the United States generated $249 billion in receipts, the U.S. Census Bureau reported. It counted about 201,000 such firms. The Black-Owned Companies here occupy a small upper tier: firms able to supply major corporations,…
When Wella Company acquired Briogeo in 2022, founder Nancy Twine stayed on as CEO. She had spent nine years building the hair-care brand; Wella brought research, marketing and global operations. Twine later described the sale as a nine-figure deal. Briogeo…
ActOne Group reported $1.4 billion in revenue for 2010. Its founder, Janice Bryant Howroyd, had started the staffing company in 1978 with $1,500, including a loan from her mother. Black Enterprise described her as the first Black woman to lead…
