Business - Black Elites

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The One Thing Every Black Billionaire has in Common that has Nothing to do with Money

Twenty-seven. That’s the whole list, worldwide, as of the 2026 Forbes count. Twenty-seven Black billionaires out of 3,428 billionaires total on the planet — fewer than one percent of a group...

The Cities Where Black-Owned Businesses Are Growing the Fastest in America

America had roughly 201,000 Black-owned employer businesses in 2023, generating $249 billion in annual receipts. That was a significant expansion from 2017: the number of Black-owned employer firms...

Otis Rolley Changed What It Means for Investment to Work for Communities

Most leaders treat investment as a numbers game: more capital in, mission accomplished. Otis Rolley asked a different question: Who actually benefits? As president of the Rockefeller...

Reggie Fils-Aimé Didn't Try to Beat Nintendo's Rivals. He Changed the Game Nobody thought Nintendo needed reinventing. Not really. When Reggie Fils-Aimé joined Nintendo of America in 2004, the company was falling behind fast. Sony's PlayStation 2 and Microsoft's Xbox owned the console market. The GameCube had moved about 21.7 million units worldwide. The PS2? Over 155 million. Not even close. Everyone assumed the answer was obvious: build something more powerful, go head-to-head on specs. Fils-Aimé didn't buy it. He thought Nintendo's real opportunity was people who never called themselves gamers in the first place. Forget chasing rivals on horsepower. Grow the audience instead. It was a real gamble. If it flopped, Nintendo could've slid even further behind. It didn't flop. It set up the Wii's massive breakout. The Bet: Give Away the Thing That Explains the Thing Before the Wii launched in 2006, Fils-Aimé pushed hard for one idea: pack Wii Sports in the box, free. Iwata said no at first. Nintendo had always treated its games as premium products, moneymakers in their own right. Giving one away meant walking away from serious revenue. But Fils-Aimé wasn't thinking about generosity. He was thinking about acquisition. His own words later: "The goal of Wii is to expand gaming from its current niche to a mass-market medium." Nintendo eventually caved and bundled it in the Americas. The results speak for themselves. Wii sold 101.63 million units worldwide, dwarfing the GameCube's 21.74 million. Wii Sports, riding that bundle, reached at least 82.79 million copies. The real lesson here isn't just "give stuff away." It's sharper than that. Sometimes a product's biggest value isn't in selling it. It's in using it to kill the customer's doubt about something else. Three Rules Behind Reggie's Decisions Expand the category instead of fighting over it. While everyone else polished the existing game, Reggie asked who else could be playing. "You have to pursue new innovative ideas that break the mold." The Wii went after families, older adults, casual players — not the graphics-chasing core crowd. Still unmistakably Nintendo, just reaching further. Make the innovation explain itself. A great product still dies if nobody can explain why it matters in one sentence. Nintendo's goal: make it "crystal clear what the proposition is." That's exactly why the Switch got pitched so simply — a home console you can take anywhere. Clean. No confusion, unlike what happened with the Wii U. Treat failure as research. Find the exact assumption that broke. Then rebuild around it. The Wii U had two problems: nobody understood what it was for, and there wasn't enough great software to keep people playing. Nintendo tackled both head-on with Switch. The $100 Million Idea That Became a 13.56 Million-Unit Warning The Wii U was the cautionary tale nobody talks about enough. After the Wii's 101.63 million in sales, Wii U limped to just 13.56 million. Fils-Aimé later admitted where it went wrong — positioning was muddy, and the software pipeline dried up. But Nintendo didn't scrap the idea. It fixed it. Switch kept the off-TV flexibility Wii U tried to offer, but made the portability the whole point, impossible to miss. By June 30, 2026, Switch had sold 156.59 million units worldwide. Fils-Aimé helped get it off the ground, though most of that success came after his 2019 retirement. The Network Behind the Contrarian Iwata and Miyamoto brought the institutional weight and creative firepower — though both pushed back on the Wii Sports idea at first. NOA executive Mike Fukuda backed Fils-Aimé up when it mattered, during negotiations. Doug Bowser took over as Nintendo of America president when Fils-Aimé retired in 2019. His real edge, though? Position. He sat right between American consumers, retailers, and Nintendo's leadership in Kyoto. Less a lone genius, more a translator — someone who could turn what he saw in the market into strategy Kyoto would actually listen to. The Move to Copy: Bundle the Proof Ask yourself one question: What could a customer experience in five minutes that makes the rest of your pitch pointless? Whatever that is — build your demo, your trial, your onboarding, your bundle around it. Don't rush to squeeze maximum revenue out of that layer. Instead, test whether giving up some margin there pays off in conversions, retention, or a bigger market overall.

Reggie Fils-Aimé Didn’t Try to Beat Nintendo’s Rivals. He Expanded the Market

When Reggie Fils-Aimé joined Nintendo of America in 2004, the company was getting left behind. Sony’s PlayStation 2 and Microsoft’s Xbox dominated the console wars, and Nintendo’s...

Where Black Entrepreneurs Are Actually Finding Funding Today

For Black entrepreneurs, the most visible form of business capital is still venture capital. It is also one of the least representative of where most Black-owned businesses actually get money...

How Byron Allen Turned Hollywood’s Closed Doors Into a Media Empire

Back in the 1990s, Byron Allen was just a comedian trying to get TV stations to air his shows. His first attempt at building a company ended in bankruptcy. His house nearly went into foreclosure. More...

LLC vs. Sole Proprietorship: Which Is Better for Black Entrepreneurs?

Imagine a freelance designer. They start making $3,000 a month from a home office. At first, it’s simple. Money comes in. Expenses go out. Everything runs under the owner’s legal name...

How Shaquille O’Neal Turned Childhood Adversity Into a Lasting Business Empire

Long before Shaquille O’Neal became one of the world’s most recognizable athletes and businessmen, he was a child growing up in a low-income household, moving frequently as his stepfather...

10 Essential Steps to Starting a Business as a Black Entrepreneur in America

Black entrepreneurship is growing faster than most headlines let on. The Kauffman Foundation found that 0.45 percent of Black adults aged 20 to 64 started a business in an average month in 2025...