All articles tagged with #black owned business
George E. Johnson, founder of Johnson Products Company, a Chicago-based Black-owned cosmetics firm known for pioneering hair-care brands, has died at age 99, leaving a lasting legacy in entrepreneurship and representation in the beauty industry.
Revolt has announced a new ownership structure where current employees will become the largest shareholder group after founder Sean "Diddy" Combs stepped down as chairman and his shares were redeemed. The company remains Black-owned and aims to enhance employee incentives and morale. This change follows Combs' exit amid multiple allegations of sexual misconduct.
Fawn Weaver founded Uncle Nearest to honor Nearest Green, the formerly enslaved master distiller who taught Jack Daniel. In seven years, she has built it into a $1.1 billion Black-owned liquor empire, focusing on ownership and avoiding institutional investors. Weaver's distillery in Tennessee features extensive facilities and attractions, and she plans to expand into other spirits. Her long-term vision includes buying out investors and eventually bequeathing the business to Green's descendants.
After a California bakery claimed that Tesla failed to pay for a $6,000 order of 4,000 mini pies, Elon Musk promised to "make things good" and the outstanding $2,000 bill has now been settled. The bakery owner, Voahangy Rasetarinera, expressed disappointment at Tesla's cancellation of the order and the impact it had on her small business. Following media coverage, the bakery received an outpouring of support, with hundreds of customers lining up to buy pies, and Rasetarinera remains determined to continue serving her community with integrity and pride.
Tesla placed a $16,000 order for 2,000 mini pies from a Black-owned bakery to celebrate Black History Month, then abruptly cancelled it, leaving the small business owner out of pocket and unable to recoup costs. Despite a miscommunication claim from Tesla, the bakery owner expressed her disappointment and highlighted the impact on her business, emphasizing the resilience required as a Black woman entrepreneur.