Its rapid growth has attracted the attention of venture capital firms, who have invested almost $10 million in the company. OK, let’s switch gears again and go to a recent startup that’s been making waves in the media world since its founding in 2014. for much of the 20th century and is still thriving today, with assets of over $160 million, according to Wikipedia. North Carolina Mutual was the largest black-owned business in the U.S. One of those founders, John Merrick, was born into slavery and then built up a successful barbershop business with branches throughout the Durham area before moving into insurance. Since this is Black History Month, let’s go back in time now to 1898, when North Carolina Mutual Life Insurance Company was founded by a group of black social leaders who pooled their own resources to create an insurance company for the underserved African-American community. 2. North Carolina Mutual Life Insurance Company Company founder John C. Today, his net worth is estimated at almost $4 billion, and his company topped this year’s BE 100s list of the nation’s largest black-owned businesses. #Big business owner movieThe company’s success is a long way from the poverty and discrimination he grew up with: “I vividly remember segregation-separate schools, sitting in the balcony at the movie theater, being barred from the public swimming pool.” Steward founded the company in St Louis, Missouri, back in 1990, and he’s still its chairman today. With more than $10 billion in annual revenue and over 5,000 employees, WWT is one of the largest private companies in the U.S.ĭavid L. If we’re talking successful black-owned businesses, it makes sense to start with the IT behemoth World Wide Technology. In this roundup, we’ll look at successful companies and their owners and founders from around the world, from large, historic companies to fast-growing small businesses run by young black entrepreneurs. This list of black-owned businesses will showcase the contributions of the black community in the business world, and the stories of the black entrepreneurs featured here may also give you some inspiration to start a business of your own. and Canada, so let’s celebrate by looking at some examples of successful black-owned businesses. February is Black History Month in the U.S.
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