Black Fortunes: The Story of the First Six African Americans Who Escaped Slavery and Became Millionaires

Summary (from the publisher): The astonishing untold history of America’s first black millionaires—former slaves who endured incredible challenges to amass and maintain their wealth for a century, from the Jacksonian period to the Roaring Twenties—self-made entrepreneurs whose unknown success mirrored that of American business heroes such as Henry Ford, John D. Rockefeller, and Thomas Edison.

While Oprah Winfrey, Jay-Z, Beyoncé, Michael Jordan, and Will Smith are among the estimated 35,000 black millionaires in the nation today, these famous celebrities were not the first blacks to reach the storied one percent. Between the years of 1830 and 1927, as the last generation of blacks born into slavery was reaching maturity, a small group of smart, tenacious, and daring men and women broke new ground to attain the highest levels of financial success.

Black Fortunes is an intriguing look at these remarkable individuals, including Napoleon Bonaparte Drew—author Shomari Wills’ great-great-great-grandfather—the first black man in Powhatan County (contemporary Richmond) to own property in post-Civil War Virginia. His achievements were matched by five other unknown black entrepreneurs including:

Mary Ellen Pleasant, who used her Gold Rush wealth to further the cause of abolitionist John Brown; Robert Reed Church, who became the largest landowner in Tennessee; Hannah Elias, the mistress of a New York City millionaire, who used the land her lover gave her to build an empire in Harlem; Orphan and self-taught chemist Annie Turnbo-Malone, who developed the first national brand of hair care products; Madam C. J Walker, Turnbo-Malone’s employee who would earn the nickname America’s "first female black millionaire;" Mississippi school teacher O. W. Gurley, who developed a piece of Tulsa, Oklahoma, into a "town" for wealthy black professionals and craftsmen" that would become known as "the Black Wall Street."

 

A fresh, little-known chapter in the nation’s story—A blend of Hidden Figures, Titan, and The Tycoons—Black Fortunes illuminates the birth of the black business titan and the emergence of the black marketplace in America as never before.

 

Review: I received a copy of this book from HarperCollins.

 

This work of non-fiction tells the story of the first black millionaires in America's history. These include six entrepreneurs including Mary Ellen Pleasant, who capitalized on the Gold Rush; Robert Reed Church who made his wealth off of landowning; Hannah Elias, who received most of her wealth from her wealthy white lover; O.W. Gurley who developed a section of Tulsa, Oklahoma into a town for prosperous black professionals; and Annie Turnbo-Malone, and Madame C.J. Walker who both made their fortunes off of black hair care products. This book covers the years between 1830 and 1927 and these individuals are remarkable because they were able to achieve significant wealth despite being part of the last generation of blacks born into slavery.

 

The individuals covered in this book are remarkable and fascinating. I particularly enjoyed reading about Robert Reed Church, who started his working life as a slave on his white father's riverboat and yet worked his way to wealth and prosperity. I also enjoyed Annie Turnbo-Malone's story of her childhood passion for fixing hair that turned into a life calling of helping black women through making and selling hair products tailored to them at a time when no one else was doing so.

 

Despite the significance of these individuals' stories, I was disappointed in the writing. Specifically, the book seemed disorganized and lacking in editorial support. For example, Annie is introduced in the book as Annie Turnbo, her maiden name. Abruptly in the next chapter, (which focuses on a different individual), the author refers to her as Annie Malone, without having yet covered her marriage (201). In the next chapter, she jumps back to Annie Turnbo again (203). This is a glaring continuity error that should have been caught by the editor. Additionally, Wills does not come across as a natural storyteller; sometimes the stories lack details or historical background that would have provided context and clear understanding. The chapters jump from focusing on one individual to another with no transition or seeming rationale, giving the book a disjointed feel. I was also somewhat surprised at the inclusion of Hannah Elias in this tale. Although technically a millionaire, it seems a stretch to call her an 'entrepreneur' like the others, since she earned her wealth by being the mistress of a wealthy man.

 

The six individuals detailed in this book are remarkable and an important piece of our national history and I commend the author for providing us with these formerly untold tales. However, I do wish the execution of this book had been a bit more thorough and well edited.

 

Stars: 3