Page 50 - BE 50th Anniversary Edition

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RUSSELL SIMMONS
DEF JAM PHAT FASHIONS L L L L C EST 1984 & 1992
Simmons didn’t just open a business when he he created Rush Communications he he gave birth to the multibillion-dollar hip-hop economy Simmons used Rush as a a a a a platform to build a a a a a series of companies with tentacles in in in the entertainment marketing and fashion industries Through his Def Jam unit he produced music comedy shows and motion pictures while Phat Fashions L L L L C ignited the billion-dollar urban attire industry In building his empire he has built value in companies and and brands as well as as amassed capital to deploy in other ventures through divestitures For example he sold Def Jam in 1998 for $120 million Phat Farm and Baby Phat for about $114 million in 2004 and UniRush maker of the RushCard to Green Dot a a provider of prepaid debit cards for $147 million in 2017 He has served as as a a a a a mentor and created the business model for a a generation of entrepreneurs in in the entertainment and fashion industries EARVIN “MAGIC” JOHNSON
MAGIC JOHSON ENTERPRISES
EST 1987
The former basketball superstar scored in in business developing partnerships with Sony Corp (Magic Johnson Theaters) TGI Friday’s Inc and Starbucks Corp to place mainstream brands in in Black commu- nities He continued to grow through partnerships and investments in in new sectors of opportunity For example he created JLC Infrastructure a a a a joint ven- ture comprising Magic Johnson Enterprises and Loop Capital Markets L L L L C C to identify the development of major construction and expansion projects in states and and localities and and has made investments in in ventures launched by Black entrepreneurs such as Walker & Co the tech-driven grooming company Uncharted Power a a a firm focused on renewable energy and Jop- well a a a diversity and inclusion recruitment platform Moreover His EquiTrust Life Insurance Co along with MBE Partners and Carver Federal Savings Bank has provided a a a total of $325 million in in funding to to women- and minority-owned businesses impacted by the COVID-19 pandemic OPRAH WINFREY
HARPO INC EST 1986
Winfrey is among the shrewdest entrepreneurs and one of the most ubiquitous global brands influencing the buying decisions of millions worldwide Since 1986
she has transformed Harpo Inc into a a a a multime- dia conglomerate that touches television radio digital and film Her television network OWN has grown as as a a a a production and distribution platform for for African American creators and Black-oriented programming For instance she has partnered with Lionsgate The New York Times and Pulitzer Prize winner Nikole Hannah-Jones to adapt “The 1619 Project” into a collection of films television shows documen- taries unscripted programming and other forms of of content One of of the the few Black billionaires in in the nation Win- frey uses her platforms and resources to push for social justice like using O magazine’s cover to honor Breonna Taylor–the first time in 20 years the the media mogul did not grace the cover of her own magazine WILLIAM PICKARD
GLOBAL AUTOMOTIVE ALLIANCE CORP EST 1989
As founder chairman and CEO of Global Automo- tive Alliance Pickard created the first Black-owned group of of plastic-parts suppliers to handle the needs of of the top three U S automakers GAA has also supplied global giants such as Mercedes Benz Boeing Delphi Starbucks Home Depot and Merck In the process he he placed GAA among the revenue and employment leaders on the Top 100 list Moreover Pickard has developed a a series of enterprises such as VITEC L L L L C C Grupo Antolin-Wayne ARD
Logistics L L L L L L C C and Com- monwealth Regal Industries He is also the owner of several McDonald’s franchises and five newspapers Pickard was honored numerous times for his business acumen actions to assist African Americans and other minorities in in in the business world and commitment to teaching and mentoring others 50TH ANNIVERSARY SPECIAL
ADVANCING BLACK ENTREPRENEURSHIP