Black female-owned businesses are the fastest-growing economic force in the world. More and more black women are owning businesses, and there has been a long legacy of black women who were passionate about their businesses.
Examples of such women are Madam C.J., Ursula M. Burns, and Cathy Hughes, who walked so that modern-day businesswomen like Oprah Winfrey, Dara Aaron Kennedy,Rihanna, and Issa Rae could run.
From innovative startups to corporate giants, these women exemplify resilience, creativity, and unwavering determination, proving that success can transcend race and gender. Below are some great black women who paved the way for young black entrepreneurs to follow their blueprint to becoming successful.
Madame C.J. Walker
The crown for “inspiring black businesswoman” would definitely go to Madam C.J. Walker, the queen herself. Born to former slaves, she went against the grain to become the first self-made female African-American millionaire by revolutionising the way we style textured hair.
This lesser known entrepreneur was born Sarah Breedlove in 1867 in Louisiana and later became a pioneer of the modern hair care and cosmetic industry, she was a master of marketing and she trained thousands of African Americans to be her sales associates, helping them become financially independent.
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Maggie Lena Walker
Entrepreneur and social activist Maggie Lena Walker was the first American woman—of any race—to be a bank president. Walker was a trailblazer. She inspired many African-American men and women to become self-sufficient entrepreneurs.
In 1903, Maggie Lena Walker chartered the Saint Luke Penny Savings Bank in Richmond, Va., making her the first black woman to charter a bank in the United States.
Ursula M. Burns
Ursula Burns’ story is a true “rags to riches” tale. She was raised in the tumble of public housing projects on the Lower East Side of Manhattan and eventually found her way to the top of Xerox.
In 2009, Ursula Burns made history as the first black woman to lead a Fortune 500 company when she was named chief executive officer of Xerox. Before her historic rise to leadership, Burns started her career as a mechanical engineering summer intern for Xerox.
While leading the Xerox team, President Barack Obama appointed Burns to the forefront of the White House National STEM program in 2009.
Lillian Lincoln Lambert
In 1969, Lillian Lincoln Lambert became the first black woman to earn a master’s degree from the Harvard School of Business.
Lambert’s journey paved the way for diversity in subsequent Harvard School of Business classrooms and has since inspired generations of students.
After graduation, she went on to launch a career in the building maintenance industry, becoming an entrepreneur who accrued $20 million before selling her company, per Forbes. Today, Lambert is an author and public speaker sharing her success story and learnings around the country.
Cathy Hughes
Cathy Hughes is the ultimate media mogul who went from a teen mom to founding one of the biggest media companies in the world. Cathy is the first black woman to lead a publicly traded media company on the U.S. Stock Exchange.
Hughes began her career in radio before becoming a lecturer in the early years of Howard University’s School of Communications. Beyond the classroom, she served as vice president and general manager at the university’s radio station, WHUR, making her the first woman to hold these roles at a station in Washington, D.C.
Cathy has since been recognized for her work by the NAACP, the Congressional Black Caucus, the American Advertising Federation Hall of Fame, and many more.
Sheila Johnson
The cable network was led by Sheila, executive vice president for corporate affairs, and its goal was to reach out specifically to black audiences.
During her tenure, Sheila spearheaded a number of initiatives, including the show Teen Summit, which ran from 1989 to 2002 and spoke directly to the experiences of black teenage viewers.
Following the couple’s divorce in 1999, Sheila later sold the rest of her shares in the company for $3 billion and created Salamander Hotels and Resorts, a collection of hotels ranging from Middleburg, Va., to Montego Bay, Jamaica.
Aurora James
Aurora James is the creative director and founder of Brother Vellies, a luxury accessory brand that not only celebrates cultural history but also strives to keep African artisanship alive by creating jobs across the globe.
Her brand has been worn by a number of celebrities, including Solange, Beyoncé, Zendaya, etc., and in the midst of the 2020 lockdown and racial uprising, Aurora founded a nonprofit advocacy organization designed to diversify retail shelves called the Fifteen Percent Pledge.
Sarah Bond
In 2023, Sarah Bond became the president of Xbox at Microsoft, making her the first black woman to hold the title at a major multinational gaming company, according to Black Girl Gamers.
Before being appointed as president, Bond joined Microsoft in 2017 as the corporate vice president of gaming partnerships and business development. In her vice presidential role, she also leads diversity and inclusion initiatives at Microsoft, working as an executive sponsor of the employee resource group “Blacks @ Microsoft.”
Mellody Hobson
Mellody Hobson is the president and co-CEO of Ariel Investments, one of the nation’s oldest black-owned firms with over $16 billion in assets.
Sitting on the board of several major corporations like JPMorgan Chase and previously leading other major entities like DreamWorks and Estée Lauder,
In 2017, Hobson became the first black chair of the Economic Club of Chicago in its 90-year history. Similarly, she made history at her alma mater, Princeton University, when the Ivy League renamed its residential college after her in 2020.
Eunice Johnson
Businesswoman Eunice Johnson forged a path for black women in not only the beauty sector but also fashion. After establishing Ebony Magazine with her husband, John Johnson, Eunice pioneered an initiative to introduce the black middle class to luxury fashion.
The Ebony Fashion Fair was an annual fashion show that traveled from coast to coast, showcasing haute couture garments.
Becoming one of the most sought-after events of the year amongst black women, the event offered a unique runway for black models and designers like Stephen Burrows, Patrick Kelly, Willi Smith, L’Amour, and more to showcase their talents.
The Ebony Fashion Fair ran from 1958 to 2009, but in 2017, the Chicago History Museum curated “Inspiring Beauty: 50 Years of Ebony Fashion Fair,” an exhibition of Johnson’s sartorial collection highlighting the biases she overcame during her quest to bring high fashion to black audiences.
Oprah Winfrey
This list would not be complete without acknowledging this jack of all trades and number three on the list of the richest self-made women in America.
A talk show host, actress, philanthropist, businesswoman, and overall queen of media is ranked as the most successful African-American philanthropist in American history.
Despite her rough childhood living in poverty and suffering abuse, Oprah was able to revolutionize daytime TV and create her own empire.
