Top Moments In Black History: Bob Johnson Becomes 1st African-American Billionaire

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This Black History Month, NewsOne takes a look back at the top African-American moments from 2000 to 2012. Some will make you happy while others will undoubtedly make you angry and/or sad. Either way, here’s to the last 12 years of our living history. Enjoy!

Moment: Bob Johnson Becomes First  African-American Billionaire

Bob Johnson, founder and former chairman and executive chief officer of Black Entertainment Television (BET), is noted as the first African-American billionaire. Johnson built the BET network and brand with ex-wife, Shelia Johnson, and then later took the company public.

After buying back all of the publicly traded stock, Johnson sold BET to Viacom for $3 billion. The move landed Johnson in “Forbes” magazine as the first Black American to be listed as one of the world’s top earners.

Another of Johnson’s many business achievements is becoming the first principal owner of a North American major-league sports franchise. The Charlotte Bobcats and its WNBA counterpart, the Sting, were owned primarily by Johnson’s investment group, which included former NBA superstar Michael Jordan. Johnson continues to make waves in the business world with his RLJ Companies brand and media investments.

SEE ALSO: Top Moments In Black History: Disney Introduces 1st African-American Princess

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