As a capitalist country, America features its share of extremely wealthy people. However the number of Black people, specifically Black women billionaires is small. Before Oprah became a billionaire in 2003 at 49, and Rihanna followed suit making headlines in 2021 as a billionaire, there was Sheila Johnson.
Johnson is America’s first Black female billionaire, but there’s not much information on her except being the co-founder of BET. If you’re interested in the legend’s journey to the epitome of class and riches, here’s a closer look.
Where Did Sheila Johnson Grow Up?
Born Jan. 25, 1949, Sheila Johnson grew up in McKeesport, Pennsylvania. Her parents had aspirational careers: her mom an accountant and dad a neurosurgeon.
As a Black doctor in the 50s, Johnson’s father was no stranger to adversity; not allowed to practice in white hospitals. This experience, which caused their family to constantly move around and her father to ultimately abandon his family, shaped Johnson’s approach to racism.
“I just got tired of not being able to move forward,” she told PBS in 2023. “So it was just important that I just — these doors would open. And I said, why can’t I go through them? And I decided I was going to go through every door that came my way.”
When Did Sheila Johnson Become A Billionaire?
Johnson’s rise to billionaire status first started in 1979. That year, she and her now ex-husband Robert Johnson founded Black Entertainment Television (BET). The conglomerate was one of the first cable networks for Black people, showcasing music, original shows, and movies.
Throughout BET’s evolution, Johnson wore many hats, including working as the company’s executive vice president for corporate affairs. In 2001, Viacom bought the company for a whopping $3 billion and in 2022 Johnson sold her BET shares.
BET has changed a lot since its creation. Johnson has expressed to many outlets her disdain for the portrayal of Black women in music videos and other forms of entertainment.
“I wanted to make sure that 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. That was one of the fires I went through,” she said to AARP in 2023.
Sheila Johnson’s Home Life / Personal Relationships
Before Johnson and her husband Robert were business partners, they were lovers. The former couple met while in undergrad at the University of Illinois. The pair went on to wed in 1969. Johnson is the mother to two children, a son named Brett and a daughter named Paige.
After a rocky marriage which translated to hardships at work, she split with Robert in 2002. However, Johnson found love again in 2005, marrying Arlington, Virginia judge William T. Newman. Funnily enough, Newman was the judge who presided over Johnson’s divorce to Robert.
“He [told me], ‘You’re carrying a lot of baggage right now. But I’ll help you work through it.’ That impressed me. He knew more about what was going on in my life than I even knew. And I said, ‘You know what? I’ll give it another try.’ And I just fell madly in love with him. I felt safe for the first time in my life,” she told AARP in 2023.
Those who want to know more about Johnson’s personal life should pick up her 2023 memoir “Walk Through Fire.”
Sheila Johnson’s Business Ventures
As America’s first Black female billionaire, Johnson has many sources of wealth. Part of keeping her billionaire status is being business savvy and embracing smart money practices. Like most billionaires, Johnson is invested in many companies.
In 2005, she founded the Salamander Hotels & Resorts. The 340-acre resort in Middleburg, Virginia prompts guests to enjoy luxury while still being comfortable. Details of the space, which is a Forbes Five-Star rated resort, includes a spa, restaurants, and an equestrian center. The resort has since expanded to include 5 more properties across the world.
Additionally, Johnson also owns shares in three professional sports teams: the NBA team Washington Wizards, the NHL team the Washington Capitals, and the WNBA team the Washington Mystics. This is historic, as she’s the first Black female with principal shareholder stakes in three teams.
Sheila Johnson’s Net Worth and Future Plans
At 76 years old, with countless lucrative investments and business interests, Johnson has no plans of slowing down. A closer look into her net worth shows she’s still a billionaire. According to Forbes, Johnson’s estimated net worth was $1 billion in 2024.
In terms of next steps, the high-class socialite has seemingly continued to do what she does best: follow her instincts.
“The doors are still starting to open up again. I’d like to get a couple more properties in my collection. It’s just whatever comes towards me. And, instinctively, if it’s the right thing, I will embrace it. I just don’t want life to be over, because I’m enjoying it more than ever now,” she told PBS in 2023.