The enterprising spirit of African American women remains unwavering. From the turn of the 20th century to present day, black women have made great strides in the business world–carving out considerable niches in a broad scope of industries as financiers, haircare distributors, advertising mavens, and entertainment moguls.
Since its premiere in 1970, Black Enterprise has highlighted the achievements of black female entrepreneurs, some of whom have graced our magazine cover, from insurance company pioneer Ernesta Procope, the first female CEO to appear on the be 100s list, to Oprah Winfrey, the first female talk show host to produce and own her own television program and the first black woman self-made billionaire. As of 2008 women owned 50% of some 10.1 million firms according to reports from the research firm Catalyst, of which about 13% were owned by African American women.
African American women have also made inroads within corporate America. The climb has been long and hard for most, with only a few making it to the very top ranks at major corporations. African American women represented roughly 1.1% of all corporate officers as of 2004. Ursula Burns of Xerox Corp. is the first and only black female CEO at one of the nation’s largest publicly traded companies. Moreover, black women represent just 1.9% of all corporate board directors.
Still and all, African American women have garnered a prominent place in history. The following timeline explores African American women in business and corporate America since the early 1900s.
Maggie Lena Walker
1903 Walker creates the St. Luke Penny Savings Bank, and becomes the first woman in the U.S. to become president of a bank. It later merges with two other black-owned banks to form Consolidated Bank and Trust Co.
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Mary McLeod Bethune
1904 Bethune starts the Daytona Beach Literary and Industrial School for Training Negro Girls, today known as Bethune-Cookman College. In 1923 she is one of the founders of the Central Life Insurance Co. and in 1935 forms the National Council of Negro Women.
Madam C.J. Walker
1905 America’s first female self-made millionaire (born Sarah Breedlove) creates a hair treatment, later establishing the Madam C.J. Walker Manufacturing facility and Walker College of Hair Culture. By 1917, the business had 20,000 sales agents and $500,000 in annual revenues.
Sarah Spencer Washington
1920 Washington starts Apex News and Hair Co., later owning extensive business properties including Apex Auditorium, Apex Drug Store, Apex Warehouse, several apartments, a beauty school, Apex Rest Tourist Retreat, a country club, and a nine-hole golf course.
Rose Morgan
1942 Morgan owns and operates the largest African American beauty parlor, the Rose Meta House of Beauty in New York City, later adding a wig salon and cosmetics line. In 1965 she is one of the founders of Freedom National Bank.
Ernesta Procope
1953 Procope creates E.G. Bowman, becoming the first female CEO included on the be 100s list when it premiered in 1973. E.G. Bowman is the first minority-owned insurance brokerage firm to be located on Wall Street in 1979.
Patricia Roberts Harris
1971 Harris is named to the board of directors at IBM, becoming the first African American woman to hold a corporate board seat. Other breakthroughs include first black woman to serve as a U.S. Cabinet secretary, first black woman to serve as a U.S. ambassador and the first to head an American law school (Howard University).
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Caroline R. Jones
1977 Jones becomes the first black female vice president of a major advertising agency: BBDO. She is also the co-founder of Mingo-Jones Advertising, where she created the catchphrase “We do chicken right†for Kentucky Fried Chicken. In 1986 she opens Caroline Jones Advertising.
Janice Bryant Howroyd
1978 Howroyd starts ACT-1 Personnel Services as a single-office operation that evolves into the ACT-1 Group, a global organization and leader in the human resources industry. In 2011 ACT-1 holds the No. 3 spot on the be industrial/service companies list of the nation’s largest black-owned companies, with $1.4 billion in revenues, becoming the first billion-dollar company owned by a black woman on our list.
Dorothy E. Brunson
1979 Brunson buys WEBB-AM Radio in Baltimore, becoming the first African American woman to own a radio station. In 1986 she buys WGTW-TV in Philadelphia.
Cathy L. Hughes
1980 Hughes establishes Radio One Inc., which grows from one to 70 radio stations in 22 urban markets. In 1999 she takes Radio One public, one of a few black-owned companies on NASDAQ, making her the first African American woman to head a publicly traded firm. In 2004, she aligns with Comcast to create the cable network TV One. Radio One ranks No. 13 and TV One ranks No. 32 on the be industrial/service companies list with $279 million and $106.5 million in revenues, respectively.
Suzanne de Passe
1981 de Passe, noted for discovering the Jackson 5, is named president of Motown Productions, where she gains recognition for producing the television special Motown 25 and the drama series Lonesome Dove. In 1992, she forms de Passe Entertainment, creating situation comedies Sister, Sister and Smart Guy and the miniseries The Temptations and The Jacksons: An American Dream.
Jacqueline L. Edgar
1983 Edgar purchases a Chevrolet dealership, making her the first African American woman to be the sole owner of a new car dealership. In 1985 she buys a Ford dealership.
Aulana L. Peters
1984 A partner at the law firm Gibson, Dunn & Grutcher, Peters becomes the first African American commissioner–and the third woman–of the Securities Exchange Commission, the financial body regulating the securities industries.
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Carol H. Williams
1986 The first ever African American creative director in the U.S. launches her namesake advertising agency. She is credited with the iconic slogan “Strong enough for a man, but made for a woman,†which catapulted Secret antiperspirant to the top spot. In 2011, her agency ranked No. 5 on the be advertising agencies list with $17.8 million in revenues.
Oprah Winfrey
1986 The Oprah Winfrey Show is nationally syndicated and Harpo Inc. is formed. After establishing Harpo Productions, Harpo Studios, and Harpo Films, in 2000 Winfrey launches O, The Oprah Magazine and in 2011 OWN: Oprah Winfrey Network. The legendary businesswoman and humanitarian has assets worth an estimated $2.7 billion and Harpo Inc. is No. 12 on the be industrial/service companies list with $289 million in revenues.
Barbara Bowles
1989 Bowles, the first African American female equity manager in Chicago, establishes the Kenwood Group. In 1996 she becomes the first African American woman to launch a mutual fund with the debut of the Kenwood Growth and Income Fund.
Jennifer Lawson
1989 Lawson’s appointment as executive vice president, programming and promotion services at PBS makes her public television’s first chief programming executive.
Yvette Lee Bowser
1993 Cosby protégée and A Different World television writer-producer, Bowser lands a deal with Warner Bros. Television, making her the first African American woman to develop her own prime-time series–Living Single, starring Queen Latifah on the Fox network. Her company, Sister Lee Productions, later produces the sitcom Half & Half.
Ann Fudge
1993 Fudge is named president of the Maxwell House division of Kraft General Foods, making her the highest-ranking black woman in corporate America and one of the most powerful in the food industry. In 2003 she becomes Chairman and CEO of Young & Rubicam Brands and Y&R Advertising, the first African American to head a major ad agency.
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Sylvia Rhone
1994 Rhone’s appointment as chairman and CEO of the Elektra Entertainment Group establishes her as the only African American and the first woman in the recording industry to attain the dual title. She is named president of Motown Records in 2004 and president of Universal Motown Records in 2006, overseeing an artist roster that includes Lil Wayne, Nicki Minaj, Drake, and Erykah Badu.
Debra L. Lee
1996 Lee is named president and COO of BET Holdings Inc., replacing departing founder, Robert L. Johnson. She has been executive vice president, general counsel, and, as of 2005, CEO at the African American-targeted network that reaches 90 million viewers. Lee is the highest-ranking African American woman at Viacom Inc., BET’s parent company after its acquisition in 2000.
Pamela Thomas-Graham
1996 Graham becomes a partner in the world’s largest management consulting firm, McKinsey & Co. In 2001, she’s named CEO and president of CNBC, establishing her as the highest-ranking African American in the cable news industry. In 2010 she joins Credit Suisse AG and its executive board as head of talent, branding, and communications.
Myrtle Stephens Potter
1998 Potter is named president of Bristol Myers Squibb’s $3 billion Cardiovascular/Metabolics unit, making her the first black woman to head a division of a major pharmaceutical company. In 2000, she becomes COO and executive vice president of commercial operations of Genentech, one of the leading biotechnology companies in the world.
Brenda J. Gaines
1999 Gaines is named president and CEO of Diners Club North America, the $30 billion Citigroup subsidiary, with more than 1 million cards in circulation.
Renetta McCann
2004 McCann becomes CEO of Starcom Americas, one of the largest media agencies in the world.
Sheila C. Johnson
2005 BET’s co-founder buys ownership in the WNBA’s Washington Mystics basketball team where she serves as vice chairman, president, and managing partner. Johnson makes history as the first African American woman to be an owner or partner in three professional sports franchises: the other two are the Washington Capitals (NHL) and the Washington Wizards (NBA).
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Ursula M. Burns
2009 Burns is named CEO of Xerox Corp., anointing her as the first African American woman to head a major corporation. Burns is appointed chairman the following year, marking a 30-year career tenure that began as a summer internship at the $22 billion company.
Valerie Carter Daniels
2011 Daniels is the first African American woman to join an NFL board of directors with the Green Bay Packers. As president and CEO of V&J Holding Cos., started in 1982, she operates the largest black-owned restaurant franchise in the U.S., with 100 Burger King and Pizza Hut units. Her firm ranks No. 39 on the be industrial/service companies list with $90 million in revenues.
Laurel Richie
2011 The former chief marketing officer for the Girl Scouts changes the landscape of professional sports by becoming the first African American woman named president of a U.S. professional sports league, the Women’s National Basketball Association (WNBA). BE