“It gives me a great sense of well-being to know that I can make a difference in people’s lives.”
— Sheila Johnson
Born January 25, 1949, Johnson co-founded BET with her husband at that time, Robert Johnson, in 1980. Although BET became a household name and continues to flourish as the network for Black people and Black culture, it was sold in 2001 to Viacom for 3 billion dollars.
Sheila Johnson is the first Black billionaire in America. Building an empire that services various businesses—from luxury hotels to film production—she also co-founded one of the largest television networks to ever exist, BET. Sheila Johnson made her fortune long before streaming and digital media came about.
She continues to be a blueprint for business elites today. Even though the exact amount Johnson received as a stakeholder and co-founder of the company was never publicly announced, it is safe to say a bag was secured. Although Johnson had reached a monumental surge in her career, she was just getting started.
Taking her earnings from the BET sale, she reinvested her money, this time venturing into luxury hospitality, sports, and film production, to name a few. At the same time, she engaged in philanthropic endeavors that included leadership development courses as part of Salamander Hotels and Resorts, where she is the CEO.
As if her resume weren’t impressive enough, Johnson made her mark in the sports entertainment world by becoming the first Black woman to own or have a stake in three key U.S. sports teams: the Washington Mystics in the WNBA, the Washington Wizards in the NBA, and the Washington Capitals in the NHL.
By all accounts, Sheila Johnson has carved out a lane for herself that many can only dream about or hope to accomplish. Her business savvy has guided her in making financial choices that have become a blueprint for others looking to start a business or multiple businesses. Sheila Johnson is a woman who became successful not because she didn’t face struggles or difficulties, but because she became successful in spite of them.
— By Candis Johnson
