Sheila C. Johnson is America’s first Black woman billionaire.
This is a remarkable feat, as Black women often face insurmountable challenges to reach their goals.
But she did it.
According to Forbes, Sheila C. Johnson’s parents got her into an all-white Kentucky school.
Sheila C. Johnson Has Always Had A Passion For Music
Johnson developed a love for music at this school–she became a high school concert pianist.
In college, Johnson attended the University of Illinois and got a bachelor’s degree in music.
She also fell in love with Robert Johnson, her business partner and first hubby.
After graduating, Johnson pursued a music career.
She wrote music textbooks, founded her student orchestra, and taught lessons.
Her husband also lobbied for cable TV companies and soon entered the business.
The pair combined their passions and founded Black Entertainment Television in 1980.
The cable station launched successfully and, by 1984, had gained 18 million subscribers.
In 1991, BET went public and reached an impressive $470 million value.
In an interview with AARP, Sheila C. Johnson revealed her approach to BET.
“I wanted to ensure we had the best programming out there. I thought the video market and the way it was portraying women was horrific. I didn’t want young women to think they had to behave like that in these videos for men. I fought that.”
How Johnson Became A Billionaire
In 2001, Viacom bought the Black-owned company for an eye-watering $3 billion.
Through this sale, Sheila C. Johnson instantly became a billionaire.
However, she didn’t stop there.
After settling her divorce from Robert, Johnson invested in Virginia and Florida real estate, hotels, and horses.
In 2013, Johnson launched the Salamander Resort & Spa, named after her spirit animal.
The Resort & Spa was so successful that it boosted the local economy’s sales tax revenue by 30% in five years.
Johnson also expanded her real estate ventures by partnering with Henderson Park, a global private equity manager.
And that’s not all.
Sheila C. Johnson also became the co-owner of three Washington professional sports teams: the NBA’s Wizards, the NHL’s Capitals, and the WNBA’s Mystics.
“There is no way in the world to move forward without knowing who you are. As I got to know myself better, I was able to go on another path but keep the foundation of my art career. Now I’m in Act 3 of my life, as a 70-plus-year-old woman. And this is the best part of my life because not only do I really know who I am, I have a vision of my future.”
In 2023, Johnson released her memoir, “Walk Through Fire: A Memoir of Love, Loss, and Triumph.”
“Learn to take risks. Also, failure is OK. That’s how you learn, no matter what age you are. I still fail at things every day. But I’m, like, ‘OK, let’s try to go in a different direction. It’s all right.'”
