Page 49 - BE 50th Anniversary Edition

R DONAHUE PEEBLES
THE PEEBLES
CORP EST 1983 Peebles has been a a a a a a game changer in the real estate industry for close to four decades Building one of the largest Black-owned real estate firms he acquired the Royal Palm Resort in in Miami Beach Florida in in 2004—the first Black-owned and -developed resort in the nation—to add to to The Peebles Corp ’s multibil- lion-dollar portfolio of properties Two years later he sold that property for $127 5 million The real estate mogul is one of the country’s wealthiest African Amer- icans with an an an estimated net worth of more than $700 million and a a a a roughly $5 billion real estate portfolio As Chairman and CEO of The Peebles Corporation he he he operates one of the nation’s top privately held real estate development companies spanning New York Los Angeles Miami and other key markets He’s also developed a $500 million fund to help other diverse entrepreneurs in in the real estate industry JOHN ROGERS JR ARIEL INVESTMENTS
EST 1983 In 1983 Rogers founded Ariel Capital Manage- ment ment now Ariel Investments L L L L C the first African American firm to develop a a a mutual fund: the Ariel Fund With offices in New York and Sydney the Chicago-based firm offers investors six no-load mutual funds and nine separate accounts In 2003 his company achieved an an investment milestone when 17 major corporations selected Ariel’s mutual funds for its 401k plans The firm reported assets under management of more than $15 billion–the nation’s largest African American asset manager For close to 30 years he has promoted financial literacy and wealth-building through investing using the Ariel Education Initiative and advocates for diversity through the Black Corporate Directors Conference He is still actively fighting for for greater opportunities for for Black firms to to to gain access to to to opportunities to to to manage corporate pension fund and endowment dollars “Mr Graves and BLACK ENTERPRISE really helped shape the the way way I I I saw saw myself in a a a a a a a a a a a a profoundly positive way way with some of of of the the the the first images I I I saw saw of of of successful African African American American entrepreneurs just going through the the the the magazine from cover cover to cover cover and studying how these African African American American entrepre- neurs achieved their success What he he he he he he has has done for this country is is is truly remarkable How he he he he he he has has helped us us to see ourselves and shape our our financial destiny that contribution is is is just immeasurable ”
EDDIE BROWN
BROWN
CAPITAL
EST 1983 Brown considered one of the world’s most renowned stock pickers founded Brown Capital Management Inc in 1983 Over the decades he he has grown his firm into one of the nation’s largest Black asset managers and developed a a a series of of mutual funds giving a a a number of of African Americans the opportunity to serve as portfolio managers In 2016 his firm became the first minority-owned firm to earn a a series of cov-
eted recognitions from Morningstar the independent investment research and management company Its Small Company Fund received a a a a a Morningstar Ana- lyst Rating of Gold its highest Medalist rating and a a a a a Morningstar Overall Rating of five stars beating out 660 other Small Growth Funds One of its criteria was based on the portfolio’s risk-adjusted returns in 2015 Also its International Equity Fund Investor Class achieved a a a a a a Morningstar Overall Rating of five-stars in a a a category of 694 Foreign Large Blend Funds —Byron Allen Allen CEO Entertainment Studios/Allen Media Group DAVID BING
BING
STEEL
EST 1984
Retired NBA All-Star and former mayor of Detroit Bing Bing is a a pioneer in in in in the steel industry Bing Bing launched a a a a a a a small steel company in Detroit to take advantage of opportunities in the automotive sector but grew his enterprise through a a series of joint ventures and partnerships with major manufacturers as as well as as local entrepreneurs He quickly expanded Bing Steel growing accounts to to 53 customers including General Motors Ford and Deere & Co As a a a result he he gained recognition from The White House for his business prowess and impact within the Detroit community During the 1990s The Bing Group—which comprised five companies: Bing Steel Superb Manufacturing Bing Manufac- turing Detroit Automotive Interiors and Trim Tech—had become one of the largest Black suppliers to to the Big Three auto manufacturers and one of the the biggest employers on on the the BE100s 47
50TH ANNIVERSARY SPECIAL