They’re young, bold, innovative, and powerful. These characteristics — and more — have earned members of an exclusive cadre of professionals and entrepreneurs a spot on BLACK ENTERPRISE’s Hot List — 50 individuals under the age of 40 who are at the top of their game.
Why have we produced such a list? As global business undergoes yet another seismic shift in the post-New Economy era, we decided to examine and identify its emerging leadership. Those featured on the next 14 pages have either transformed industries through innovative products and practices, broken new ground in a particular field, produced billions of dollars in revenue with their talent and business prowess, or influenced the strategic direction of some of the world’s largest corporations. They have made a major impact in a number of industries, including media, finance, entertainment, and technology.
Just take a sneak peek at their sizzling performance. Geneticist Colin Hill creates computer-simulated models of cancer to help pharmaceutical companies create more effective drugs. Amy Barnett, journalist wunderkind and editor of Teen People, made history by becoming the first black woman to ascend to the helm of a publication at Time Inc., the largest magazine publisher on the globe. Goldman Sachs’ Gregg A. Gonsalves manages billion-dollar transactions in the aerospace, defense, and chemical sectors. Aaron McGruder, artist and creator of the critically acclaimed and controversial comic strip, The Boondocks, transformed a unique concept into an international brand that extends beyond the pages of your local newspaper into books, apparel, and film.
Now, as you marvel at the achievements of these movers and shakers, you can be sure of one thing: These young leaders will make up a force to be reckoned with for decades to come.
Amy Barnett
Managing Editor Age: 34
Barnett is the first African American to head a major consumer magazine at Time Inc. As managing editor, she oversees the creative direction and serves as the public face of Teen People, which has a circulation of roughly 1.6 million. “It was a very organic transition,” she says of her catapult into mainstream publishing. “Having worked in the urban market prepares you for being ahead of the curve in mainstream pop culture.” Previously, Barnett served as editor-in-chief at Vanguarde Media’s Honey for nearly three years, during which time the magazine’s rate base doubled from 200,000 to 400,000.
Nicole Bernard
Foundation Executive Age: 37
An attorney by trade, Bernard is senior vice president of the Apollo Theater Foundation Inc., a nonprofit organization established in 1991 to preserve and enhance the historic Apollo Theater in Harlem. Bernard’s recent projects on behalf of the Apollo include negotiating and restructuring the historic Showtime at the Apollo syndicated television series, the basis for Apollo Television.
Halle Berry
Actress & Producer Age: 37
Berry needs no introduction. She’s opening doors in front of and behind the scenes. She’s the first African American woman to win an Oscar for best actress for her controversial role in Monster’s Ball and the first Bond girl in the spy series’ 40-year history to gain a spin-off for her character Jinx in Die Another Day, which grossed more than $160 million. Berry also gained notoriety for her many production projects such as The Dorothy Dandridge Story and the HBO adaptation of Lackawanna Blues. One of the only black actresses who can command a salary in the millions, Berry has several films in various stages of production, including Gothika and Catwoman.
Yvette Lee Bowser
Television Producer Age: 38
Before she was 30, Bowser became the first African American female to develop her own television series. Now the president of SisterLee Productions, Bowser is currently serving as executive producer for the UPN series Half & Half. After working as a writer for Bill Cosby’s A Different World, she moved on to work as a producer for ABC’s Hangin’ with Mr. Cooper. In 1993, Bowser formed SisterLee Productions and in a collaborative effort with Fox and Warner Bros. Television, she created the hit series Living Single. The show is now in syndication.
Shawn “Jay-Z” Carter / Damon Dash
Entrepreneurs Age: 34 / 32
Jay-Z and Dash’s $300 million empire, Roc-A-Fella Enterprises, is still going strong. The 8-year-old company boasts Roc-A-Fella Records, Rocawear, a leading urban clothing producer, and Roc-A-Fella Films, which produced State Property and Paid in Full, a film nominated by the Independent Spirit Awards for best first feature. What’s next? Jay-Z, whose swan-song CD, The Black Album, was released in November, hopes to appear on the silver screen.
Susan Chapman
Director Global Real Estate Age: 34
Over the past two years, Chapman has logged more than 200,000 miles flying across the globe, managing the 11-million-square-foot portfolio of network, office, and technical facilities outside North America for Level 3 Communications Inc. Splitting her time between London and Denver, this ambitious executive helped sustain the $4 billion communications and information services company through a nasty industry downturn. Many of Level 3’s competitors have been unable to unload assets in the last few years, but Chapman and her team have closed more than $200 million in transactions in the last 15 months.
Sonya Summerour Clemmons
Bioengineer Age: 32
The founder of SSC Enterprises consulting firm is the one companies call when they want to get revolutionary biotech devices, such as liver detoxifiers and artificial organs, through clinical trials and to the market. The first black woman to earn a doctorate in bioengineering from the University of California, San Diego, Clemmons and her team conduct groundbreaking research in medicine.
Sean “P. Diddy” Combs
Entrepreneur Age: 34
As CEO of Bad Boy Entertainment Inc., Combs oversees multiple business units, including Bad Boy Records, Daddy’s House Studios, and the hugely successful Sean John apparel line. Combs’ empire grew substantially last year, raking in an estimated $500 million in sales, up from $300 million in 2001. He also executive produced this summer’s Bad Boys II soundtrack, which went platinum and debuted at No.1 on the Billboard charts.
Harold Ford Jr.
U.S. Representative (D-Tenn.) Age: 32
Serving his fourth term, Ford continues to gain momentum in the political arena. He has built his reputation by applying fresh ideas to the challenges of the 21st century, building coalitions and making bold moves. He holds seats on both the powerful House Budget and Financial Services committees. Next stop: Ford has his sights on a run for the U.S. Senate in 2006.
Antoine Fuqua
Film Director & Producer Age: 37
Fuqua confirmed his place as a young leading film director with Training Day, which starred Denzel Washington in his Oscar-winning role. He is the director in demand, working with Bruce Willis on Tears of the Sun and the upcoming blockbuster for Disney’s Touchstone Films, King Arthur. His production company, Reel Power, is scheduled to produce the film Family Reunion.
F. Gary Gray
Film Director & Producer Age: 33
Gray, a former music video director, made his directorial film debut in 1995 with the hit comedy Friday, which was made for $3.5 million and grossed $27.4 million at the box office. Gray also directed this year’s The Italian Job, which has seen more than $100 million in box office sales. He is currently directing the MGM film Be Cool, which stars John Travolta and is scheduled to be released in 2004.
Dave Chappelle
Comedian & Executive Producer Age: 2
9
The star of the critically acclaimed Chappelle’s Show, which airs on the Comedy Central cable television network, didn’t just want laughs, he wanted control. Thought by some to possess certain artistic characteristics of comedic legends Richard Pryor and George Carlin, Chappelle’s ambition and brand of in-your-face humor produced one of cable TV’s biggest hits. He is adroitly leveraging his success and turning himself into one of the hottest brands in comedy. In addition to his cable TV show and his growing popularity on the big screen, his comedy tour Dave Chappelle is Blackzilla, is one of this year’s best-selling comedy tours. It sold out in 65 markets and grossed $3.5 million.
Melissa “Missy Misdemeanor” Elliott
Recording Artist & Music Producer Age: 32
Missy is a multitalented executive who has worked with everyone from Whitney Houston to Justin Timberlake. She’s produced and wrote a slew of diverse hits for other superstars, including Destiny’s Child, Janet Jackson, and Christina Aguilera. The two-time Grammy award winner is a platinum-plus recording artist in her own right and released her fifth studio album, This is Not a Test, in November. Missy’s career took off after she wrote seven tracks for Aaliyah’s 1996 album One in a Million, which went multiplatinum. Elektra Entertainment CEO Sylvia Rhone quickly offered Missy a production deal and a label of her own, The Goldmind Inc. Missy also takes time to give back to the community as the national spokesperson for Break the Cycle, a nonprofit organization working with young people between the ages of 12 and 22 to end domestic violence.
Colin Hill
Scientist Age: 31
This scientist-cum-entrepreneur is on the front line in the war against cancer. As CEO of Gene Network Sciences, Hill and his team use data from the human genome project to create data-driven computer simulations of the disease. His company’s innovative research allows pharmaceutical companies to forecast the effects of new drugs before clinical trials, saving billions of dollars in revenue.
Jesse Jackson Jr.
U.S. Representative (D-Ill.) Age: 38
Since being elected in 1995, Jackson has emerged as a powerful young leader and staunch advocate for equality in healthcare and education. He’s used his position to create the National Center on Minority Health and Health Disparities, considered one of the most important pieces of civil rights legislation in four decades. He has also fought against moves to undermine affirmative action and cuts to education and energy assistance.
Michael Hill
Baseball Executive Age: 32
A year after joining the Florida Marlins, Hill’s team went to the 2003 World Series, having defeated the Chicago Cubs in a decisive Game 7. In his ninth season in a front-office job, this assistant general manager demonstrates his own power-hitting skill by handling waiver and rule compliance, roster management, and contract research and negotiation.
O’Shea “Ice Cube” Jackson
Film Producer / Entrepreneur Age: 34
From hard-core rapper to film star to director, Ice Cube has been a success. His Friday movies grossed $118 million and Barbershop raked in $75 million. The CEO of Cube Vision Productions, he recently signed on to produce and star in a minimum of three films for Revolution Studios. He has two films scheduled for release in early 2004. Also look for him in the XXX sequel. These days, every day is a good day.
Mellody Hobson
Fund Company President Age: 34
Hobson joined Ariel Capital Management Inc. at age 21, still a wet-behind-the-ears intern. Now, she steers the direction of the investment management firm, totaling $13.88 billion in assets under management. As president, she’s responsible for firmwide management, overseeing virtually all of the company’s operations, except research and portfolio management.
Melissa James
Investment Banker Age: 39
James, a Yale and Harvard alumna, manages Morgan Stanley’s relationship loan portfolio. She’s currently working in a joint venture between institutional equities, fixed income, and investment banking where Morgan Stanley is acting as a lender to its major corporate clinets. James facilitated the $3.6 billion initial public offering of Agere Systems and its spin-off from Lucent — one of the largest technology company IPOs in U.S. history.
Gregg A. Gonsalves
Investment Banker Age: 35
Since 1999, Gonsalves has headed up the Aerospace and Defense Group at Goldman Sachs & Co. He is also a managing director for Goldman Sachs’ Industrial and Natural Resources Group. Armed with a B.S. from Columbia University in mechanical engineering and an M.B.A. from Harvard University, Gonsalves routinely advises companies during billion-dollar transactions. He assisted TRW in their $12 billion sale to Northrop Grumman, advised Northrop in the acquisition of Litton Industries for $5.2 billion, and was involved in the $1.1 billion sale of General Motors’ Defense Business to General Dynamics. Outside of Goldman, he is a member of the boards of A Better Chance foundation and the Jackie Robinson foundation’s Alumni Association.
David C. Johnson, M.D.
Orthopedic Surgeon Age: 34
Ever since his older brother passed away from a lymphoma, Johnson knew he wanted to practice medicine. The orthopedic surgeon, who specializes in sports medicine at Mount Vernon Orthopedics and Sports Medicine, specifically arthroscopic surgery for the shoulder, elbow, and knee, has sutured many athletes during his training. In 2001, he won a one-year fellowship to the famed Steadman Hawkins Clinic in Vail, Colorado, where many professional athletes seek treatment. “The goal is to create a state-of-the-art practice that caters to elite athletes as well as recreational athletes,” says Johnson.
Karl Kani
Entrepreneur Age: 35
For more than a decade, Kani (born Carl Williams) has been a major player in the fashion scene. His company, Karl Kani Infinity Inc., has earned more than $1 billion in net sales since 1994. In February, Kani teamed up with Cash Money Records’ co-CEO Bryan “Baby” Williams for a new clothing line, which he expects to pull in $40 million in sales by the end of 2004. The company is No. 49 on the BE INDUSTRIAL SERVICE 100 list with $71.2 million in sales.
Walter Latham
Entrepreneur Age: 32
Latham is laughing all the way to the bank as CEO of Latham Entertainment (LE) which grossed $10 million in 2002. The comedy tour promoter, who’s responsible for promoting Chris Tucker, Martin Lawrence, and Bernie Mac, launched the Kings of Comedy tour in 1997, which grossed $39 million in the first three years. Latham brought the tour to the big screen in The Original Kings of Comedy, directed by Spike Lee. Budgeted for $3 million, the film grossed more than $38 million and was nominated for an NAACP Image Award. In early 2003, the company partnered with Miller Lite to produce a 13-episode reality search television program titled The Miller Lite Kings and Queens of Comedy Search.
Alfred C. Liggins III
CEO Age: 38
Liggins has been spearheading new business ventures for Radio One Inc. (No. 8 on the BE INDUSTRIAL/SERVICE 100 list with $335.8 million in revenues), the seventh-largest radio broadcasting company and the largest targeting African American and urban listeners. As CEO, he took the company public in 2000 and engineered the expansion of Radio One which operates 66 radio stations in 22 urban markets. Most recently, the company entered into a deal with cable giant Comcast to form TV One L.L.C., a cable network targeted at African American viewers which is scheduled to launch in January 2004.
William Lighten
Investment Banker Age: 39
Lehman Bros. tapped him as managing director to elevate its profile in global structured finance business. The firm went from having no pres
ence in global structured finance business to being No. 1 in The Wall Street Journal‘s 2003 third-quarter results. Lighten manages more than $100 billion in new-issue structured bonds and recently managed a $6 billion deal for Ford Motor Credit Corp.
Kwame M. Kilpatrick
The youngest mayor of any major city in U.S. history is revving up the Motor City. Since his election in 2001, he’s balanced a city budget that once had a $196 million deficit, and his restructuring of the police department and its improved response time has reduced crime by roughly 6%. And that’s not all. His administration has brokered six hotel deals, initiated construction of more than 4,000 new low-, moderate-, and high-end housing units, and green-lighted the development of Detroit’s east riverfront into a multi-use area to feature businesses, shops, a large state park, and residential units.
Mayor of Detroit Age: 33
Aaron McGruder
Comic Strip Creator Age: 29
Since its syndication in 1999, The Boondocks, a daily comic strip focusing on the lives of two young black boys living in white suburbia, has satirized everything from the policies of President George W. Bush to Black Entertainment Television. It has become one of the most successful comic strips ever, appearing in more than 350 news publications worldwide. McGruder recently inked several deals that will jettison his creation to new heights. The Boondocks has transcended print journalism and can be found on the covers of books, emblazoned as art on T-shirts, animated in a television pilot, and will eventually be projected onto the silver screen.
Kevin Liles
Record Company Executive Age: 35
Liles joined Def Jam Recordings in 1992 as an intern and today oversees the daily operations of DefJam/Def Soul Records, which features artists such as L.L. Cool J, Redman, and DMX. After becoming president at age 30 in 1998, he grew the label through joint ventures with Roc-A-Fella Records and Murder Inc. and the addition of Def Soul, the label’s R&B label. Such moves helped build the company into one of the industry’s biggest players.
Anna McGowan
Did you dream of space travel as a kid? McGowan lives that dream as program manager of the $12 million Morphing Program at NASA’s Langley Research Center. She leads dozens of researchers as they develop new “smart” materials for the next generation of spacecrafts. Some of these materials can respond intelligently to touch, while others can heal themselves when punctured, or restore themselves to their original shape.
Vanessa Morrison
Film Studio Executive Age: 34
In moviemaking, there are executives who bring in the material and develop it until it’s movie-ready. That’s when Morrison, senior vice president of Production of Twentieth Century Fox, comes in. “It’s my responsibility, along with other production executives, to shepherd the movie through the pre-production, production, and post-production process,” she says. She’s currently overseeing the live action/computer generated image film Garfield and Cheaper by the Dozen, starring Steve Martin.
Art Mbanefo
Investment Banker Age: 38
Mbanefo is a managing director of Credit Suisse First Boston, a leading global investment bank serving institutional, corporate, and individual clients. He also serves as global head of the firm’s prime banking department, which is comprised of the firm’s equity finance, securities prime brokerage and alternative capital areas. Mbanefo holds a degree in applied mathematics from the University of London and is a visiting lecturer at Carnegie Mellon University.
Dana “Queen Latifah” Owens
Actress & Entrepreneur Age: 33
Latifah is an entertainment conglomerate. The rapper-turned-actress earned Academy Award and Golden Globe nominations, in 2003, for her role in Chicago. This year she starred in and co-executive produced the Disney comedy Bringing Down the House, which debuted at No. 1 at the box office, earned $31 million in one weekend, and $133 million total. Look for her in Barbershop 2 in 2004. She is currently filming the movie The Cookout, which she co-wrote for her company, Flavor Unit Entertainment.
James McLurkin
Research Scientist Age: 31
As NASA launched two Mars rovers this summer, McLurkin, a graduate student at MIT’s computer science and artificial intelligence lab, toiled on something bigger: programming 4.5 inch microbots to carry out cooperative tasks, including exploring the Red Planet. As senior lead research scientist on the Swarm project for iRobot, McLurkin developed the robots to emulate bees, with the ability to cluster, disperse, and orbit. “Swarms of robots are the future,” says McLurkin. “Robots will become more useful, and, as they do, many of the tasks they are good at, multiple robots will do better.”
Michael A. Ray
Investment Trader Age: 38
Ray manages all aspects of trading for Legg Mason Funds Management Inc., which has five equity mutual funds and approximately $26 billion in equity assets. He completed an 18 million share transaction in the NASDAQ-100 Index Tracking Stock, the largest single print transaction in the history of exchange-traded funds. Ray is one of BE’s “Top 50 African Americans on Wall Street.”
Tarrus L. Richardson
Financier Age: 34
Richardson is managing director and co-founder of ICV Capital Partners LLC, a $130 million private investment firm focused on investing in inner city and ethnic minority companies. He’s an active member of the board of directors of ICV’s five portfolio companies, which collectively have more than $200 million in revenue. The Harvard M.B.A. graduate also co-founded Gold Coast Securities, an investment bank in Ghana, and handled mergers and acquisitions at Salomon Smith Barney.
L. Londell McMillan
Attorney & Entrepreneur Age: 37
Passion drives McMillan to the halls of justice everyday, “advocating for change within an industry that has made $65 billion, largely off the backs of our talent,” says the negotiator and litigator, who co-founded the Artist Empowerment Coalition to promote artists’ rights. McMillan’s high-profile clients, such as Stevie Wonder and Roberta Flack, represent a $4.5 billion client brand value. He negotiated the $120 million deal when Prince changed his name to a symbol. Instrumental in the formation of the WNBA, he lobbied the NBA on behalf of star athletes to create the franchise and handles intellectual property issues for The New York Times. Currently in expansion, The McMillan Firm & NorthStar Business Enterprises Inc. is a full-service enterprise, where business and law meet politics and media.
Michael Russell
CEO Age: 38
Russell was named CEO of H.J. Russell & Company (No. 11 on the BE INDUSTRIAL/SERVICE 100 list with $300 million in revenues) in October 2003, upon the retirement of his father, Herman J. Russell. The younger Russell was previously executive vice president and responsible for operating and managing the Construction Division. This division generated 90% of the company’s 2002 revenues.
Jeffrey Scott
Financier Age: 33
As managing director of Black Enterprise/Greenwich Street Corporate Growth Partners (No. 9 on the BE PRIVATE EQUITY FIRMS list with $91 million in assets under management), which invests in minority-owned or managed companies, Scott is responsible for the origination, structuring, execution, and monitoring of investments in companies like Source Enterprises and Glory Foods. Previously, he was a vice president of private equity at Citigroup and an analyst at Goldman Sachs.
Tavis Smiley
Entrepreneur Age: 39
Under the umbrella of The Tavis Smiley Group, Smiley is a branding powerhouse. He has found his niche in working to uplift, inform, and inspire
African Americans through The Tavis Smiley Show, which airs on National Public Radio, and various businesses including The Tavis Smiley Foundation, Smiley Books, and Tavistalks.com. Also, listeners can hear his commentary on “The Smiley Report,” broadcast on nearly 60 radio stations nationwide.
Andrea Nelson Meigs
Motion Picture Talent Agent Age: 35
You could say acting is in her blood. As a child actress, Nelson Meigs says her dad told
Will Smith
Actor, Producer & Recording Artist Age: 35
From Grammy award winning recording artist to top-grossing actor, Smith’s career and influence in Hollywood have skyrocketed. He made $20 million per film, plus a percentage of the total gross, for his roles in Men in Black II and Bad Boys II. One of his latest endeavors with his company, Overbrook Entertainment, is executive producing All of Us, a prime-time sitcom.
Three Doctors Foundation
Physicians Ages: 30
Growing up on the tough streets of Newark, New Jersey, Sampson Davis, M.D.; Rameck Hunt, M.D.; and George Jenkins, D.M.D., made a pact to stick together and earn medical degrees. They formed the nonprofit organization The Three Doctors Foundation Inc. in 2000 to inspire other inner-city children, through education, mentoring, and volunteerism to persevere and be successful in their endeavors.
Omar Wasow
Website Director Age: 32
Unlike other Web ventures that rose, crested, crashed, and burned, Wasow’s BlackPlanet.com has weathered the storm. Today, it’s one of the busiest corners of cyberspace for news, chats, and networking. BlackPlanet.com is consistently rated the top Website for African Americans. Wasow, dedicated to bridging the digital divide, also maintains a regular presence in the media as a technology guru.
Pharrell Williams
Music Producer & Entrepreneur Age: 30
Among the hip-hop set, Williams is considered a hit factory. He and partner, Chad Hugo, co-founders of Star Trak Entertainment, who call themselves The Neptunes, have produced top-selling tunes in myriad of musical genres for chart-topping acts like Nelly, Jay-Z, Britney Spears, Mystikal, Usher, Snoop Dogg, and Busta Rhymes. In 2002, Virginia Beach, Virginia-bred Williams and Hugo brought their Star Trak label to Arista Records and designed a deal where they sign and develop talent. In August of the same year, The Neptunes were named producers of the year at The Source Awards and the Billboard Awards. The multi-faceted Williams, just doesn’t produce, his band N*E*R*D has been certified gold for its latest CD The Neptunes Present … Clones. Look out this month for the straight-to-video hip-hop musical Dude We’re Going to Rio starring Williams.
Kenny Williams
Baseball Executive Age: 39
Since 2000, Williams has been a front-office power hitter for the Chicago White Sox, handling every aspect of baseball operations from developing marketing strategies to player negotiations. As senior vice president and general manager, he acquired Carl Everett from the Texas Rangers and Roberto Alomar from the New York Mets this year, and saved the team more than $17 million in the process.
Serena Williams
Professional Tennis Player Age: 22
Ranked Sports Business Daily’s No. 1 most marketable female athlete this year, Williams counts Puma, Avon, Wrigley, McDonald’s, and Unilever among her endorsement deals. Since her professional debut in September 1995, Williams has won six singles Grand Slam titles and she’s earned more than $10 million from tournament winnings through 2002. Ranked No. 3 by the WTA as of Oct. 13, Williams is also pursuing careers in acting and fashion.
Venus Williams
Professional Tennis Player Age: 23
Since her professional debut in October 1994, Williams has won four singles Grand Slam titles and is ranked at No. 6 by the WTA as of Oct. 13. Her tennis career netted more than $11 million through 2002, but endorsements have added millions more, including a reported $40 million five-year deal with Reebok. Last year, Williams started an interior design company, V Starr Interiors, which projects $1 million in gross sales by year-end.
Eldrick “Tiger” Woods
Professional Golf Player Age: 27
Since launching his professional career in August 1996, Woods has won 52 tournaments, 39 of them on the PGA Tour. As of October, his world ranking was No. 1 and he has earned more than $41 million from tournaments through 2002. Woods has also scored millions in endorsements, including a five-year $100 million Nike contract and deals with Buick, American Express, and Accenture. He established the Tiger Woods Foundation in 1996.
Andre “Dr. Dre” Young
Music Producer /Entrepreneur Age: 38
After nearly two decades, Dr. Dre has left an indelible stamp on rap music. His company, Aftermath Entertainment, launched a multiplatinum roster of artists including Eminem, who has sold 20 million albums in the U.S., and 50 Cent, whose debut album sold a record 872,000 copies its first week. Although both protégés have formed their own labels, Dre still enforces his creative input as a producer.
Jide J. Zeitlen
Investment Banker Age: 39
Zeitlen recently became COO of the investment banking division at Goldman Sachs. The former merger banker spent a dozen years at that post before co-heading the firm’s healthcare practice. A Harvard alumnus, Zeitlen sits on the boards of several committees including those of Amherst College and Montefiore Medical Center. He is also a member of Goldman’s Pine Street Board.
Additional Reporting by Tanisha A. Sykes, Robert Anthony, Siobhan Benet, Cliff Hocker, Tamara Holmes, Alan Hughes, Tykisha Lundy, Christina Morgan, Maya R. Payne & Marcia Wade