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Famous Amos is a Black-founded brand that’s brought smiles to our faces since 1975. To survive this long, they’ve had to undergo many changes in the past nearly 50 years – mostly in terms of ownership. The visionary behind the cookie company, Wally Amos , found quick success after opening a shop in Los Angeles, but he was faced with financial and personal challenges leading him to walk away. Since their lowest point, the Famous Amos net worth has grown considerably. Despite the ups and downs, they remain one of America’s favorite cookies. The Wally Amos Days (Photo by Diana Walker/Getty Images) Before opening his flagship location, Amos made history as the first-ever Black talent manager, working out of William Morris Agency. When meeting with record labels and signees he would bring in fresh baked cookies after uncovering a love for baking while living with his aunt in New York. Word got out about the “famous Amos” cookies, leading his friends Marvin Gaye and Helen Reddy to gift...
The Famous Amos cookie company is an American cultural icon. Each year, millions of delicious confections made by the company founded by Wally Amos are sold in stores nationwide. But despite early investments from his celebrity friends — including a soul legend — Wally Amos couldn’t keep Famous Amos afloat. Amos was an experienced Hollywood talent broker, but he didn’t know his way around the corporate world. What’s more, Amos — known for his perpetually sunny, upbeat demeanor — has no regrets about how it all went down. “If you sit around starting to feel sorry for yourself, and blaming everyone else for your position in life, it is like being in quicksand,” he said to the New York Times. “In quicksand, if you start flailing all about and panicking with each movement you go in deeper, but if you just stay calm and look about, chances are you’ll see a twig or something you can reach to pull yourself out. Or, if you stay there long enough someone will come and rescue you.” Let’s take...
Marvin Gaye is one of the greatest lyricists of all time. As part of the legendary Motown lineup, Gaye made songs that your grandparents love to this very day. From “Sexual Healing” to “What’s Going On,” he was truly the soulful voice of a generation. And his passing in 1984 shook the world on every level. And while he — like many celebrities — faced some financial difficulties along the way, his legacy is secured and cannot be denied. But did you know that Marvin Gaye is also partially responsible for the existence of Famous Amos cookies? That’s right: before celebrities made headlines for investing in companies that would then go on to achieve unicorn status, Gaye was helping out a longtime friend by investing in his then-fledgling cookie company. The R&B legend’s investment was even featured in History’s hit television series, “The Food That Built America.” Now, with the news that Famous Amos is paying that initial investment forward by giving $150,000 to three Black...
When Wally Amos founded Famous Amos Cookies in 1975, he was navigating one of the most challenging times of his life. Newly divorced and struggling with the tides of pursuing Hollywood success, he went on to find major success in sweet treats. However, his success was not a solo effort. With early backing from celebrities like Marvin Gaye, Amos was able to sell approximately $300,000 worth of cookies in his inaugural year. The cookie brand is now paying it forward with the second round of entrepreneurial grants. In a May 19 press release, Famous Amos announced a partnership with the National Black Chamber of Commerce to launch the second cycle of the Famous Amos Ingredients for Success Entrepreneurs Initiative . The entrepreneurial program is designed to offer grants and mentorship as essential tools and resources to assist Black business owners. Participants will engage in a pitch contest that provides a high-level overview of their business, why it will become a successful...