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Robert L. Johnson ’s journey from a young man with a vision to a media magnate and philanthropist is a story of perseverance, strategy, and relentless pursuit of success. As the founder of BET (Black Entertainment Television), Johnson became the first African American billionaire, cementing his place as one of the most influential figures in the media industry. His journey, however, was not without its challenges. Here’s a closer look at how Johnson built his empire and made a lasting impact as a businessman and philanthropist. Early Life And Education Born on April 8, 1946, in Hickory, Mississippi , Johnson grew up in a family that valued education and hard work. His parents were both educators, and their influence instilled in him a desire to succeed academically and professionally. Johnson attended the University of Illinois, where he earned a Bachelor of Arts degree in History. Afterward, he went on to obtain a Master of Public Affairs degree from Princeton University. His time...
Retirement isn’t normally a high priority on young workers’ lists. But this 41-year-old single mother not only secured her bag but did so in the biggest way possible. CNBC has the story of Lakisha Simmons, who retired with almost $1 million in her retirement fund ($850,000 to be exact), having worked since she was 14-years-old. Although she comes from a working-class family, Simmons worked as an associate professor at Belmont University in Nashville, TN. Between her full-time job and her side hustles, Simmons was able to bring in $150,000 in 2020. But Simmons had set a goal for herself: retire by the time she was 45-years-old. So, she deployed what’s known as the FIRE Method — “financial independence, retire early” — which is also popularly known as an extreme saving method. Simmons sold her home (to get rid of her mortgage of $2,400/month), cut down on all her expenses (switched to a prepaid cell phone plan, made meals at home), and saved $100,000 in the first year. “Simmons keeps...
Laurieann Gibson is here to make the world dance! The renowned Emmy Award-nominated director, producer, author, choreographer and pop culture innovator has joined forces with Cinedigm to launch the BOP (Born Out Of Passion) Network. It will be the first multimedia streaming service offering an all-inclusive slate of global dance-related programming. “Not only is BOP a dream come true, but it is born out of passion,” said Gibson in an exclusive interview with AfroTech. “BOP is all things dance. It is a new, global network streaming service, an entertainment value that has yet to be established and experienced. It is the joy that dance brings, the hope and aspirational aspect of it, the whole razzle-dazzle.” Laurieann Gibson started out as a dancer, however, throughout her career she has built superstars — from Diddy to Megan Thee Stallion to Alicia Keys and beyond. She’s even cultivated international superstars on hit reality shows like “Beyond the Spotlight,” “Dance Moms,” “Making...
BET’s founder is demanding a change when it comes to Black wealth! Robert Johnson, also the founder of The RLJ Companies, has proposed a new program that would change the way Black-owned businesses gain access to capital. The Better Opportunity and Outcomes for Socially Disadvantaged Talent (BOOST) Act is based on the FCC Tax Certificate Policy which was created in the 1970s as an effort to increase minority ownership of media properties, according to PR Newswire. It is a response to the historic problem of attracting capital, specifically “strategic equity” capital, that Black business owners and socially disadvantaged minorities face — something that has long affected them since before the COVID-19 pandemic. “The biggest challenge to racial equality in our nation is the glaring wealth chasm between Black and white American families,” said Johnson in a news release. “To close that gap, there must be a commitment to finding a workable solution to the lack of capital in the Black...
In 1980, media moguls Bob Johnson and John Malone partnered together to launch prominent cable network, BET (Black Entertainment Television). Now 40 years later, they’ve reconnected to team up for a new business venture. According to Black Enterprise, serial entrepreneur Johnson started RLJ Cos., his portfolio of businesses that include the Retirement Clearinghouse L.L.C. — a company in which businessman Malone is now an investor in. Citing this renewed partnership as a “meeting of like minds,” both Johnson and Malone announced the latter party has purchased a minority stake in Retirement Clearinghouse to help shrink the wealth and retirement savings gap for minorities, a news release reports. “I invested alongside Bob when he launched Black Entertainment Television. When Bob approached me to talk about his work with 401(k) auto portability, I recognized an opportunity to extend that work into practical ways to achieve inclusive capitalism,” Malone shared in a statement . He also...
Although the 2020 election is nearly one year away, BET founder Robert L. Johnson has already predicted the outcome. In a recent CNBC interview, the billionaire entrepreneur and philanthropist projected President Donald Trump’s win based on the President’s strategic ability to turn the tide of news cycles and to make himself the lead story . In the past, Johnson has also touted the President’s economic success. In July, Johnson discussed the upward economic trend with CNBC, indicating record lows of black unemployment . More recently, in an interview with CNBC’s “Squawk Box,” Johnson spoke about his ability to speak with President about various issues, aiming to give credit where credit is due, “ …when I see a president doing positive things, particularly for African Americans. ” When asked if a particular 2020 presidential candidate had clenched his vote, Johnson clarified, “ I don’t think it’s fundamentally in the best interests of African Americans to be locked up in one party. ”