Get All Access for $5/mo

5 Things You Should Know About America's First Black Billionaires BET co-founders and former spouses Robert and Sheila Johnson could teach us all a thing or two about versatility.

By Nina Zipkin

L. Cohen | Getty Images

In 1979, husband and wife team Robert L. Johnson and Sheila Johnson co-founded Black Entertainment Television (BET). In 2000, with the sale of the company to Viacom for $3 billion, the Johnsons were the first African American man and woman to become billionaires in the country. After the sale, the Johnsons, who divorced in 2002, weren't content to rest on their laurels and swiftly moved forward to the next chapter of their varied careers.

Read on for five fascinating facts about the Johnsons.

Related: 10 of the Most Influential African-American Inventors

Play to win

Robert made history in the arena of professional sports in 2003 when he became the first African American to become the majority owner of a professional sports organization, the NBA's Charlotte Bobcats. He also has a stake in the WNBA's Charlotte Sting. Sheila is the first African-American woman to have an ownership stake in three professional sports teams with the WNBA Mystics, the NBA Wizards ad the NHL Capitals. She is also the president and managing partner of the Mystics.

Be our guest

In 2004, Robert founded RLJ Companies, an investment firm that works in a wide variety of industries, including hotel real estate investment, asset management, financial services, car dealerships, sports and entertainment and gaming. That same year Sheila founded Salamander Hotels & Resorts. As CEO she oversees a growing number of luxury properties and hotels in Virginia, Florida, Louisiana and South Carolina.

Breaking ground

BET became the first African American-owned business listed on the New York Stock Exchange in 1991. With RLJ Companies, and RLJ Entertainment, Robert has taken three companies public.

Creative drive

Since the sale of BET, the Johnsons have kept up with the entertainment industry. Sheila is the founder and chair of the Middleburg Film Festival, which she launched in 2013. The following year, Robert founded a digital subscription video-on-demand venture called the Urban Movie Channel.

Pay it forward

In 2016, Sheila co-founded WE Capital, a venture capital firm dedicated to supporting and funding businesses led by female entrepreneurs who are focused on furthering social change. In 2007, Robert launched the Liberia Enterprise Development Fund to help entrepreneurs in the country get their businesses off the ground.

Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Business Process

How CEOs Can Take Control of Their Emails and Achieve Inbox Zero

Although there are many methodologies that leaders can use to manage their emails effectively, a consistent and thought-through process is the most effective way to systemize and respond to emails and is a step of stewardship for the effective leader.

Science & Technology

5 Automation Strategies Every Small Business Should Follow

It's time we make IT automation work for us: streamline processes, boost efficiency and drive growth with the right tools and strategy.