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Top 20 Biggest Black-Owned Companies in the US

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Top 20 Biggest Black-Owned Companies in the US

Approximately six in ten Black adults in the United States believe that supporting Black-owned businesses is a highly effective strategy for promoting equality, as per a Pew Research Center survey. Despite a growth in the number of Black-owned businesses in recent years, they still only represent 2.4% of all employer-firm owners in the U.S.. In comparison, Black Americans constitute about 12.4% of the population. This contrasts with white Americans, who comprise 86% of employee-firm owners but only about 59% of the population.

In 2022, an estimated 161,031 Black or African-American-owned businesses were in operation, generating $183.3 billion in annual receipts, an increase from the estimated 140,918 businesses in operation in 2020. These businesses employed 1.4 million people, with a total annual payroll of approximately $53.6 billion, according to data from the Census Bureau’s 2022 Annual Business Survey.

While the majority of Black-owned businesses are small, with about 66% having fewer than 10 employees in 2020, several Black-owned firms generate billion-dollar revenues each year and employ thousands of workers.

The top 20 largest Black-owned businesses in the U.S. include;

20. Salamander Hotels & Resorts

Revenues: $220 Million

Employees: 2500

CEO: Sheila C. Johnson

A luxury retreat nestled in the Virginia countryside, Salamander Hotels & Resorts offers a blend of elegance and adventure with its 168-room property and extensive spa facilities.

19. Devon Industrial Group

Revenues: $234 Million

Employees: 70

CEO: David A. Burnley Sr

Specializing in construction projects across various sectors, Devon Industrial Group has established itself as a key player in the Midwestern construction landscape.

18. Georgetown Metal Processing

Revenues: $235 Million

Employees: 30

CEO: Kirk Lewis

A steel processing service center known for its precision in blanking and warehousing, Georgetown Metal Processing is a vital supplier in the metal industry.

17. Bird Electric

Revenues: $238 Million

Employees: 587

CEO: Dale LeFebvre

Bird Electric stands out as a full-service electric company, offering a range of services from transmission to storm restoration across multiple states.

16. Baldwin Richardson Foods

Revenues: $252 Million

Employees: 350

CEO: Eric G. Johnson

From its origins as an ice cream company, Baldwin Richardson Foods has evolved into a leading custom ingredients manufacturer, creating a variety of products for the food industry.

15. Adams Communication & Engineering Technology

Revenues: $253 Million

Employees: 385

CEO: Charles M. Adams

Providing cutting-edge technology services for government defense and federal agencies, Adams Communication & Engineering Technology is at the forefront of innovation.

14. Millennium Steel of Texas

Revenues: $266 Million

Employees: 86

CEO: Andrea M. Jackson

Supplying automotive-grade steel to automakers, Millennium Steel of Texas plays a crucial role in the automotive industry with its focus on quality and efficiency.

13. Global Automotive Alliance Corporation

Revenues: $275 Million

Employees: 1647

CEOs: William F. Pickard and Sylvester L. Hester

A conglomerate of logistics and manufacturing companies, Global Automotive Alliance Corporation is a key supplier to major automakers and other global companies.

12. Millennium Steel Service

Revenues: $312 Million

Employees: 51

CEO: Andrea Jackson

A sister company to Millennium Steel of Texas, Millennium Steel Service specializes in steel processing and warehousing, ensuring a seamless supply chain for the automotive industry.

11. Fair Oaks Farms

Revenues: $342 Million

Employees: 257

CEO: Michael L. Thompson

A producer of fresh and cooked meat products, Fair Oaks Farms caters to a variety of national and international restaurant chains and food companies.

10. Hightowers Petroleum Co.

Revenues: $450 Million

Employees: 45 in North America

CEO: Stephen L. Hightower

A family-owned petroleum products distribution company, Hightowers Petroleum Co. has built a reputation for excellence in fuel delivery and supply chain management.

9. Urban One (NASDAQ:UONEK)

Revenues: $484 Million

Employees: 1000 nationally

Founder: Cathy Hughes

The largest distributor of urban content in the U.S., Urban One is a leading voice for the African American community, with a diverse portfolio of media assets.

8. The Anderson-Dubose Company

Revenues: $703 Million

Employees: 543

CEO: Warren E. Anderson

Providing logistics services to fast food giants like McDonald’s and Chipotle, The Anderson-Dubose Company is a key player in the distribution industry.

7. Thompson Hospitality Corp.

Revenues: $600 Million

Employees: 6,000 globally

CEO: Warren M. Thompson

As the largest minority-owned food service company, Thompson Hospitality Corp. offers a wide range of services in the hospitality industry.

6. Bridgeman Foods

Revenues: $870 Million

Employees: 20,000

CEO: Ryan Bridgeman

A major player in the fast-food and quick-service restaurant industry, Bridgeman Foods operates a large number of franchises across the United States.

5. Modular Assembly Innovations

Revenues: $1 billion

Employees: 281 nationally

CEO: Billy R. Vickers

One of the largest Black-owned businesses in the U.S., Modular Assembly Innovations is a leading supplier of automotive parts, with a strong commitment to quality and innovation.

4. Coca-Cola Beverages Florida

Revenues: Over $250 Million

Employees: 4,800 nationally

CEO: Troy D. Taylor

An independent Coca-Cola bottler, Coca-Cola Beverages Florida serves millions of consumers across the state, offering a wide range of products from the iconic beverage brand.

3. Bridgewater Interiors L.L.C

Revenues: $2 billion

Employees: 2,400

CEO: Ronald E. Hall Jr.

A leading manufacturer of automotive seating, Bridgewater Interiors is known for its just-in-time manufacturing and delivery, serving major car manufacturers with excellence.

2. Act 1 Group

Revenues: $1.1 billion

Employees: 2,600 globally

CEO: Janice Bryant Howroyd

A global leader in employment and workforce management solutions, Act 1 Group is the largest woman-owned, minority-owned workforce management company in the U.S.

1. World Wide Technology

Revenue: $17 billion

Employees: 10,000 globally

CEO: David L. Steward

At the forefront of technology solutions, World Wide Technology serves a significant portion of Fortune 500 companies, providing innovative IT and software solutions.

Conclusion

The landscape of Black-owned businesses in the United States is both diverse and dynamic, spanning various industries from technology and manufacturing to hospitality and food services.

Despite historical and ongoing challenges, these enterprises have shown remarkable growth and resilience. Their success not only contributes to the economic fabric of the nation but also plays a crucial role in advancing racial equality and empowering the Black community. As the country continues to strive for greater inclusivity and equity, the support and development of Black-owned businesses remain pivotal in shaping a more

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