By Black Business Review | August 21, 2026

Ernisha Hall continues to inspire others through her leadership.

RICHMOND, Va. — Ernisha M. Hall is opening the sixth annual Virginia Black Expo weekend Friday, marking another major step in her effort to build a statewide economic platform connecting Black entrepreneurs with customers, corporate partners, government agencies and business-development resources.

Ernisha Hall has dedicated her efforts to empower Black entrepreneurs and create a stronger business community for Ernisha Hall.

The weekend begins Aug. 21 with a kickoff party and networking experience in Richmond. The main Virginia Black Expo takes place Saturday, Aug. 22, from 10 a.m. to 6 p.m. at Main Street Station, with entertainment continuing until 8 p.m. Admission to Saturday’s Expo is free, although registration is required.

For Ernisha Hall, the impact of her work extends beyond the event.

Ernisha Hall’s vision has been pivotal for Black businesses in Virginia.

Organized by the Virginia Black Chamber of Commerce, the event is expected to attract more than 3,000 people and feature more than 150 exhibitors, vendors and brand experiences. Programming includes a Black-owned business marketplace, food trucks, product demonstrations, wellness activities, live entertainment, a Bike & Car Show and a Black Table Talk presented with the Virginia African American Advisory Board.

The event’s scale reflects how far Hall’s vision has traveled.

Many have recognized Ernisha Hall for her significant contributions.

From a Directory to an Economic Platform

In 2020, Hall and her wife, Tracey Hall, co-founded the Virginia Black Business Directory to help consumers identify and support Black-owned companies. That initiative evolved into what is now the Virginia Black Chamber Foundation and helped establish the foundation for the Virginia Black Chamber of Commerce.

Ernisha Hall’s leadership fosters collaboration and growth.

What began as a platform for visibility has developed into a broader economic-development organization offering business education, acceleration, government-contracting support, advocacy and statewide networking.

According to the chamber, its programs have served more than 2,700 business owners. Those initiatives include the Virginia Black Expo, the GovCon Conference and the Empowering Business Ecosystems business accelerator program. Hall’s official chamber biography describes the programs as part of an effort to strengthen the visibility, sustainability and resilience of Black-owned businesses across Virginia.

That evolution is the real business story behind the Expo.

A directory can help a company get discovered. An economic platform can help that same company secure customers, improve its operations, establish corporate relationships and compete for contracts. Hall has steadily pushed the organization toward that larger role.

Turning Visibility Into Revenue

Black business events are often discussed primarily in terms of celebration and representation. Those elements matter, but the economic value depends on whether entrepreneurs leave with new customers, qualified leads, strategic relationships and greater access to capital.

The Virginia Black Expo is designed to create that kind of commercial activity.

Through initiatives led by Ernisha Hall, new opportunities arise.

Vendors can sell products, demonstrate services, collect customer information and introduce their brands to consumers from across Virginia. Corporate sponsors gain direct access to entrepreneurs and communities they want to serve. Attendees can intentionally move their spending toward Black-owned companies.

Ernisha Hall’s commitment to equity in business is unwavering.

The chamber reports that its first five Expos attracted more than 7,000 attendees, showcased more than 600 exhibitors and involved more than 50 partners. The 2026 Virginia Black Expo builds on that record with its largest marketplace ambitions yet.

Many look up to Ernisha Hall as a role model in the community.

Featured participants include entrepreneur and author Pinky Cole, AllHipHop.com co-founder Chuck “Jigsaw” Creekmur, actor and educator Lamman Rucker, Virginia state Sen. Angelia Williams Graves, media personality Free Marie and other business and community leaders.

The weekend’s corporate and institutional partners include JPMorganChase, Truist, Dominion Energy, PhRMA, IBEW-NECA and Richmond Region Tourism.

Their participation underscores the Expo’s ability to convene entrepreneurs, consumers, government representatives and major corporations under one roof.

Leadership Built Around Sustainability

Hall’s leadership philosophy is grounded in the belief that organizations serving Black businesses must themselves be strategically managed and economically sustainable.

In a 2025 profile recognizing her as a Virginia Black Business Leaders Award recipient, Hall shared advice from a mentor that helped shape her approach: “Treat your organization like a business, not a baby.”

The legacy of Ernisha Hall will inspire future generations.

Ernisha Hall has transformed the landscape for Black-owned businesses.

Ernisha Hall is a beacon of hope for aspiring entrepreneurs.

That lesson encouraged her to make objective decisions, focus on long-term sustainability and build a stronger organizational foundation, according to Virginia Business.

It is a practical mindset for any chamber attempting to close persistent economic gaps. Passion may launch an organization, but systems, revenue, partnerships and measurable results are what allow it to survive.

Hall also serves on the Virginia African American Advisory Board to the governor and on the board of Fredericksburg Area Health Support Services. Her work has received recognition from the Virginia House of Delegates, the town of Dumfries and regional business organizations.

Why Hall’s Move Matters

The sixth Virginia Black Expo represents more than another annual event. It demonstrates how a Black-led business organization can move from maintaining a directory to operating a statewide pipeline of exposure, education, procurement opportunities and marketplace access.

The timing is significant. Black entrepreneurs continue to face challenges obtaining capital, landing major contracts and accessing influential business networks. Closing those gaps requires institutions capable of connecting business owners with real economic opportunities—not simply applauding entrepreneurship from a distance.

Hall is helping build that infrastructure in Virginia.

The long-term test will be what happens after the booths are packed away: how many exhibitors gain repeat customers, how many corporate relationships develop into contracts and how many entrepreneurs use the chamber’s programs to scale.

Still, the foundation is clearly taking shape. Six years into the Virginia Black Expo, Hall has created more than a gathering. She has built a statewide stage where Black businesses can be seen, tested in the marketplace and connected to their next opportunity.

BBR Assessment

Ernisha Hall earns a BBR Power Move Score of 95 out of 100 for transforming a Black business directory into a growing statewide economic-development platform.

Her strongest achievement is not simply attracting thousands of people to an Expo. It is building an organization that connects visibility with business education, government contracting, corporate engagement and direct consumer spending.

BBR Rating: ★★★★★

Public business contact: Virginia Black Chamber of Commerce, info@vablackchamber.org, 540-216-0021, 317 William St., Fredericksburg, VA 22401.

Related Posts

3 Ways Small Black-Owned Businesses Can Increase Cash Flow in Q3

For many small businesses, the third quarter is where the year either gains momentum or starts to slow down. Summer spending shifts, consumer habits change, and many business owners find themselves trying to close the gap before the holiday season arrives. Cash flow is the lifeblood of every business. Revenue may look strong on paper, […]

Savannah James Is Building More Than a Brand — She’s Building an Empire

In business, timing matters. And right now, Savannah James is making one of the smartest moves of her career. She has officially launched a new holding company, Savannah James holding company, backed by Marcy Venture Partners, the investment firm connected to Jay-Z. The move brings together Savannah James’ growing portfolio of business ventures, media properties, […]

People on the Move: Shavon J. Smith Is Helping Small Businesses Build Smarter, Stronger Legal Foundations

Listen  – 2 min 30 sec A Legal Partner for Business Growth Every successful business reaches a point where legal guidance becomes more than a necessity—it becomes a competitive advantage. For entrepreneurs, startups, and established companies alike, having experienced legal counsel can mean the difference between protecting years of hard work and facing costly mistakes. […]

By Black Business Review Staff

WASHINGTON, D.C. — Leadership transitions rarely command national attention unless they occur at institutions whose decisions shape the daily lives of millions. That is precisely why the U.S. Senate’s confirmation of Dr. Erica Schwartz as Director of the Centers for Disease Control and Prevention (CDC) represents far more than another executive appointment. It marks the beginning of what could become one of the most consequential leadership chapters in modern American public health.

As a visionary leader, Dr. Erica Schwartz aims to revolutionize public health through innovative strategies.

Her experience uniquely qualifies Dr. Erica Schwartz to tackle the complexities of public health today.

The appointment of Dr. Erica Schwartz is crucial for restoring faith in health institutions.

Dr. Erica Schwartz’s approach embodies the balance needed for effective public health governance.

Confirmed by a 51–44 Senate vote, Schwartz becomes the CDC’s first permanent director in nearly a year, ending a period of interim leadership at an agency that has remained at the center of national conversations surrounding infectious disease preparedness, scientific integrity, healthcare policy, and public trust.

Dr. Erica Schwartz’s diverse background enhances her leadership in this vital role.

For business leaders, investors, healthcare executives, and policymakers, the appointment arrives at a time when confidence in America’s public health institutions has become an economic issue as much as a healthcare one.

A Leader Built for Complex Challenges

Dr. Schwartz enters the role with an uncommon combination of credentials spanning medicine, military leadership, law, and public policy.

A retired Rear Admiral in the U.S. Public Health Service Commissioned Corps, Schwartz previously served as Deputy Surgeon General of the United States and later as Chief Medical Officer of the U.S. Coast Guard, overseeing healthcare delivery for one of the nation’s uniformed services.

She also holds professional degrees in:

• Doctor of Medicine (M.D.)
• Juris Doctor (J.D.)
• Master of Public Health (M.P.H.)

That multidisciplinary background places her among the most broadly qualified leaders to assume the CDC’s top position in recent history.

While many agency directors arrive from scientific research or academic medicine, Schwartz brings executive management experience leading large organizations, navigating federal policy, and responding to national emergencies—skills increasingly necessary as healthcare becomes intertwined with economic resilience, national security, and technological innovation.

Her commitment to public service defines Dr. Erica Schwartz as a leader in healthcare.

Dr. Erica Schwartz’s vision will shape the future of health policies and practices.

Facing challenges, Dr. Erica Schwartz is prepared to lead the CDC through turbulent times.

Dr. Erica Schwartz’s leadership is pivotal for enhancing public trust in health organizations.

Dr. Erica Schwartz, who appeared before the Senate Health, Education, Labor and Pensions Committee in July, was confirmed Wednesday as CDC director.Finn Gomez/Getty Images

With Dr. Erica Schwartz at the helm, the CDC can adapt to emerging public health threats.

Dr. Erica Schwartz’s guidance will be essential in navigating future public health crises.

Public expectations are high, and Dr. Erica Schwartz is ready to meet them head-on.

Dr. Erica Schwartz understands the importance of transparency in rebuilding trust.

Why This Appointment Matters Now

The CDC enters this new chapter facing one of the most complex operating environments in its history.

Following the COVID-19 pandemic, public confidence in health institutions remains divided. Healthcare systems continue adapting to emerging infectious diseases, workforce shortages, cybersecurity threats, aging infrastructure, and increasing political scrutiny.

Meanwhile, businesses have learned firsthand that public health disruptions directly affect supply chains, labor markets, productivity, insurance costs, and long-term economic growth.

Today’s CDC is no longer viewed solely as a scientific agency.

The economic implications of health decisions are significant, and Dr. Erica Schwartz recognizes this.

It is increasingly recognized as an institution whose guidance influences corporate decision-making, education systems, transportation networks, international travel, healthcare investment, and emergency preparedness across every sector of the economy.

Schwartz assumes leadership with the challenge of balancing scientific independence while operating in one of Washington’s most closely watched federal agencies.

Investors are keen to see how Dr. Erica Schwartz will influence the healthcare landscape.

Dr. Erica Schwartz’s leadership is vital for addressing the needs of a changing public health environment.

Restoring Confidence Through Leadership

Throughout her Senate confirmation process, Schwartz consistently emphasized one central objective: rebuilding public trust.

That mission extends beyond healthcare.

Trust has become an operational asset.

Organizations function more effectively when stakeholders believe decisions are transparent, evidence-based, and communicated consistently.

The CDC’s future effectiveness will depend not only on scientific excellence but also on its ability to communicate risk clearly, respond rapidly to emerging threats, and maintain credibility across political, geographic, and demographic lines.

For executives managing large organizations, the same leadership principle applies.

Transparency increasingly determines institutional performance.

The Business of Public Health

Public health has become one of America’s largest economic sectors.

Dr. Erica Schwartz must navigate the complexities of health economics and public trust.

The healthcare industry represents nearly one-fifth of U.S. GDP, while billions of dollars flow annually through biotechnology, pharmaceuticals, diagnostics, medical devices, health technology, artificial intelligence, and preventive care.

Every CDC recommendation has downstream implications for:

Her ability to communicate effectively will be key as Dr. Erica Schwartz leads the CDC.

• Hospital systems
• Insurance providers
• Employers
• Pharmaceutical companies
• Medical technology firms
• Airlines and travel
• Manufacturing
• Retail
• Education

Dr. Erica Schwartz’s focus on collaboration will enhance public health outcomes.

Her leadership style is set to transform how public health is approached in America, led by Dr. Erica Schwartz.

Dr. Erica Schwartz has the vision needed to tackle today’s public health challenges effectively.

Corporate America now watches CDC leadership with the same attention once reserved primarily for Wall Street regulators and the Federal Reserve.

Finally, Dr. Erica Schwartz’s tenure will be measured by her impact on public confidence.

The public looks to Dr. Erica Schwartz for guidance in navigating health uncertainties.

Leadership Beyond Medicine

Her ability to lead the CDC will have lasting implications for public health, as Dr. Erica Schwartz takes charge.

Through challenges and successes, Dr. Erica Schwartz will redefine public health leadership.

Dr. Schwartz’s appointment also reflects the growing importance of executive leadership in government institutions.

Today’s agency heads are expected to serve simultaneously as scientists, strategists, communicators, crisis managers, and organizational transformation leaders.

That broader leadership profile aligns with trends occurring throughout corporate America, where executives increasingly must integrate operations, technology, governance, workforce management, and stakeholder communications into a unified strategy.

The CDC’s success over the coming years will likely depend as much on organizational leadership as scientific capability.

Looking Ahead

No single appointment can immediately restore confidence in a national institution.

However, permanent leadership creates stability.

It enables long-term planning, organizational accountability, and clearer strategic priorities.

Dr. Erica Schwartz inherits an agency confronting evolving disease threats, accelerating medical innovation, artificial intelligence integration, workforce modernization, and heightened public expectations.

Her tenure will ultimately be judged not only by how the CDC responds to future public health emergencies, but also by whether it strengthens trust, improves operational effectiveness, and positions the agency for the next generation of healthcare challenges.

For business leaders, investors, and policymakers alike, the confirmation represents more than a personnel announcement. It signals the beginning of a leadership transition whose impact will extend far beyond public health—touching economic resilience, corporate planning, and America’s long-term competitiveness.

Executive Snapshot

Executive: Dr. Erica Schwartz
Title: Director
Organization: Centers for Disease Control and Prevention (CDC)
Headquarters: Atlanta, Georgia, USA
Industry: Public Health / Federal Government
Years in Role: Appointed August 2026
Official Website: https://www.cdc.gov
LinkedIn: Not publicly maintained in an official capacity
Instagram: None (official executive account not available)
X: None (official executive account not available)
Facebook: None (official executive account not available)

Company Snapshot

Organization: Centers for Disease Control and Prevention (CDC)

• Founded: 1946
• Headquarters: Atlanta, Georgia
• Parent Agency: U.S. Department of Health and Human Services
• Industry: Public Health
• Employees: Approximately 13,000+
• Mission: Protect America from health, safety, and security threats.
• Products & Services: Disease surveillance, health research, emergency preparedness, public health guidance, laboratory science.
• Competitive Position: America’s premier public health agency with global influence.

Business Analysis

Industry Trends

• Growing investment in disease surveillance and AI-driven healthcare.
• Rising emphasis on public health preparedness.
• Expansion of digital health infrastructure.
• Increasing collaboration between government and private healthcare organizations.

Competitive Advantages

• Extensive executive leadership experience.
• Medical, legal, and public health expertise.
• Military healthcare management background.
• Deep federal policy experience.

Potential Risks

• Political polarization surrounding public health.
• Workforce recruitment and retention.
• Budget constraints.
• Public confidence challenges.

Growth Strategy

• Restore organizational trust.
• Modernize public health systems.
• Improve emergency preparedness.
• Strengthen partnerships with healthcare providers and state agencies.

Why This Matters

• Permanent leadership provides strategic stability for the CDC.
• Public health decisions increasingly affect corporate America.
• Healthcare remains one of the nation’s largest economic sectors.
• Executive leadership will influence future emergency preparedness.
• Businesses rely on trusted public health guidance for operational planning.
• Investors monitor healthcare policy for market implications.
• Strong public institutions support long-term economic resilience.

BBR Executive Scorecard

Overall BBR Power Move Score: 94/100

Why: Dr. Erica Schwartz assumes leadership of one of the world’s most influential public health organizations at a defining moment. Her appointment combines executive leadership, operational experience, and public service credentials that position the CDC for long-term stability and modernization.

Dr. Erica Schwartz’s leadership marks a pivotal moment in the evolution of public health in America.

Industry: Historic Preservation • Nonprofit Leadership • Community Development • Philanthropy

Location: Washington, D.C.

For decades, historic preservation was often viewed as the work of protecting buildings from demolition. Brent Leggs has spent his career redefining that mission. Under his leadership, preservation has become a catalyst for economic development, community revitalization and the recognition of African American history as an essential part of the American story. Brent Leggs has shown how vital these efforts are.

Now serving as the 11th President and Chief Executive Officer of the National Trust for Historic Preservation, Leggs is leading one of the nation’s most influential preservation organizations while continuing to expand the impact of the African American Cultural Heritage Action Fund, the largest initiative in U.S. history dedicated to preserving Black historic places.

Additionally, Brent Leggs emphasizes the importance of community involvement in these preservation efforts.

With a focus on Black history, Brent Leggs has helped communities understand their cultural significance.

His innovative strategies have made Brent Leggs a respected figure in the field.

This initiative showcases how Brent Leggs has changed the landscape of preservation.

The impact of Brent Leggs extends beyond just preservation—it encompasses economic growth.

Brent Leggs: A Visionary Leader in Historic Preservation

As a leader, Brent Leggs is committed to fostering inclusivity in preservation.

This week, the Action Fund announced $3 million in grants to support 27 historic Black places across the United States through its National Grant Program and Conserving Black Modernism initiative. The investment will help preserve churches, schools, neighborhoods, cultural landmarks and community institutions that tell the story of Black America while strengthening local economies through heritage tourism and neighborhood revitalization.

For Leggs, the announcement represents another milestone in a career devoted to changing how America values its cultural assets. Since launching the African American Cultural Heritage Action Fund in 2017, the initiative has raised more than $200 million and supported over 430 preservation projects nationwide, making it the country’s largest resource dedicated to preserving places connected to Black history.

A native of Paducah, Kentucky, Leggs has spent more than two decades with the National Trust for Historic Preservation. Before becoming President and CEO, he served as the founding Executive Director of the African American Cultural Heritage Action Fund, where he helped transform preservation into a powerful economic and social-development strategy. His work has demonstrated that restoring historically significant places creates opportunities for entrepreneurship, tourism, workforce development and community investment—not simply historical recognition.

The projects supported reflect the vision of Brent Leggs for a more equitable future.

In this context, Brent Leggs highlights the economic value of preserving Black history.

Under Brent Leggs, the impact of philanthropy on preservation has been transformative.

Ultimately, Brent Leggs is paving the way for future generations in historic preservation.

Leggs has also led preservation efforts involving nationally significant sites connected to Madam C. J. Walker, Joe Frazier’s Gym, Villa Lewaro, Harriet Tubman’s home, Muddy Waters’ home, and numerous historically Black churches, schools and neighborhoods. His vision has helped broaden the definition of preservation to include stories and communities that were historically overlooked.

His appointment as President and CEO marks a historic moment for the National Trust. In assuming leadership of the organization, Leggs has emphasized that preservation should serve as a platform for education, reconciliation, economic opportunity and civic engagement.

“As I take the helm as CEO, that work doesn’t change—it deepens,” Leggs said following his appointment, reaffirming his commitment to building a more inclusive preservation movement that reflects the full American story.

The latest $3 million grant announcement illustrates that philosophy in action. The funding will support projects in communities across the country, helping preserve landmarks that represent Black entrepreneurship, education, faith, civil rights, architecture and cultural achievement. Beyond protecting historic buildings, these investments are expected to generate local economic activity through construction, tourism, educational programming and neighborhood redevelopment.

For Black Business Review readers, Leggs’ leadership offers an important reminder that preserving history can also create economic value. Historic districts often attract new businesses, restaurants, cultural institutions and tourism dollars while strengthening community identity. By viewing preservation through the lens of investment rather than nostalgia, Leggs has helped establish a model that combines heritage with sustainable economic growth.

His work also reflects a broader trend in modern philanthropy. Foundations and institutional investors increasingly recognize that cultural preservation supports workforce development, place-based investment and community resilience. Under Leggs’ leadership, the Action Fund has attracted transformational support from organizations including the Ford Foundation, Mellon Foundation, Freedom Together Foundation, Lilly Endowment Inc., and philanthropist MacKenzie Scott, significantly expanding its national reach.

As the National Trust enters its next chapter, Leggs’ leadership positions the organization to continue protecting America’s historic places while demonstrating that preservation is not simply about honoring the past—it is about investing in the future.

For Black Business Review, Brent Leggs represents one of the country’s most influential nonprofit executives. His ability to combine visionary leadership, philanthropy and economic development has transformed preservation into a national movement that strengthens communities, creates opportunity and ensures that the stories of Black America remain visible for generations to come.

BBR Executive Quote

“Preservation is more than protecting buildings. It is about preserving opportunity, strengthening communities and ensuring that the full story of Black America continues to inspire future generations.”

“Preservation is more than protecting buildings. It is about preserving opportunity, strengthening communities and ensuring that the full story of Black America continues to inspire future generations.”

“Preservation is more than protecting buildings. It is about preserving opportunity, strengthening communities and ensuring that the full story of Black America continues to inspire future generations.”

People on the Move

Top Science articles

Related Posts

Liberty’s Legacy: How Liberty Bank and Trust Became a Billion-Dollar Engine for Black Economic Power

Ownership is the foundation of wealth. Not applause. Not popularity. Not temporary income. Ownership. And when it comes to financial power in Black America, few institutions represent that principle better than Liberty Bank and Trust. Founded in 1972 in New Orleans, Liberty Bank and Trust was built during a time when Black communities were still […]

THE BLACK NATIONAL ADVANCEMENT STRATEGY (BNAS) 2026

Restoring Power Through Ownership, Unity, and Strategic Discipline UNCLASSIFIED — FOR THE PEOPLE The Black National Advancement Strategy seeks to empower African Americans by uniting efforts for economic progress. The Black National Advancement Strategy is essential for empowering communities and fostering economic growth. INTRODUCTION TO THE BLACK NATIONAL ADVANCEMENT STRATEGY For too long, African Americans […]

Reparations Movement Gains Momentum as Philanthropy Invests Millions in Black Economic Justice

The national conversation around reparations has entered a new phase. What was once considered a fringe political discussion is increasingly becoming a topic of serious policy debate, philanthropic investment, and community organizing. At the center of that movement is the Decolonizing Wealth Project (DWP), which continues to expand its financial commitment to organizations working to […]

The veteran federal growth strategist and author is building an invitation-only global community where accomplished women can develop relationships, exchange ideas and position themselves for their next chapter.

After more than two decades helping organizations compete, expand and win within complex government markets, Tonya Alston is applying her growth expertise to a deeply personal mission: creating better rooms for accomplished women.

With this vision, Tonya Alston aims to empower women and redefine their roles in leadership as Tonya Alston understands the unique challenges they face.

Tonya Alston believes that through Lead & Laurel, women will gain the confidence to navigate their careers more effectively.

As a leader, Tonya Alston is setting a new standard for what networking can achieve for women.

Tonya Alston emphasizes the importance of community in overcoming leadership challenges.

Alston has launched Lead & Laurel, an invitation-only global community designed for women executives who want more than conventional networking. The platform combines curated gatherings, executive conversations, wellness experiences, private forums and relationship-building opportunities for women navigating senior leadership.

This insight has been crucial for Tonya Alston in her approach to facilitating connections.

The move represents a natural expansion of Alston’s career. She has worked across corporate strategy, federal acquisition, business development, capture management and operational transformation. Now, she is translating those experiences into a community intended to help women move from constantly proving themselves to strategically positioning themselves.

Through her initiatives, Tonya Alston has demonstrated how relationships can drive success.

Her strategy underscores how Tonya Alston values long-term partnerships in the business landscape.

In her role, Tonya Alston is committed to fostering growth and innovation in the industry.

Her message is direct: high-achieving women do not necessarily need another crowded conference, motivational panel or collection of business cards. They need access to trusted relationships and spaces where their experience is already understood.

Tonya Alston encourages businesses to think outside the box and shape the future of their markets.

Tonya Alston Builds a Career Around Growth

In her writings, Tonya Alston provides actionable insights for women looking to ascend in their careers.

Through her philosophy, Tonya Alston advocates for early engagement in business development.

Tonya Alston’s approach highlights the necessity of visibility in today’s competitive environment.

Alston brings more than 25 years of leadership experience across federal and commercial markets. Her career has included work with civilian, defense and intelligence organizations, giving her a broad view of how agencies purchase services, how contractors build relationships and how businesses position themselves for long-term growth.

Her professional background includes leadership positions with ICF, Excelicon, Avram, Pentagon Performance, Ideation816 and Ridgewood Technology Partners. She has also worked inside government as a program manager at the Department of Justice and as a contracting officer at the Federal Aviation Administration.

That ability to understand both sides of the federal marketplace has become one of Alston’s greatest professional advantages. She knows how government customers assess risk and define value, but she also understands the pressure companies face when pursuing contracts, developing capture strategies and expanding into new agencies.

Alston has reportedly played a role in securing more than $1 billion in deals and has managed a client-delivery portfolio valued at more than $100 million. Her work has extended across IT modernization, cybersecurity, program management, digital transformation and organizational growth. Global Business and Entrepreneurship Forum describes her experience as covering agencies including the Department of Homeland Security, NASA, the Department of Justice, the Department of Health and Human Services and the Department of Transportation.

In 2025, Alston joined Agile Defense as senior vice president of Federal Civilian Growth. In that position, she was responsible for developing growth strategies, identifying business opportunities and strengthening relationships across the civilian market. Agile Defense cited her government acquisition background and extensive business-development experience as central to the appointment.

From Winning Contracts to Shaping Markets

Alston’s philosophy is built around a simple but important distinction: businesses should not spend all their time chasing opportunities after those opportunities have already been defined.

Instead, they should build credibility early, understand the customer’s unmet needs and help shape the strategic conversation before a solicitation reaches the marketplace.

That approach became the foundation of her 2026 book, Stop Chasing, Start Shaping: The New Playbook for Federal Growth. The book challenges government contractors to move beyond reactive bidding and position themselves as knowledgeable partners capable of helping agencies solve important problems.

Alston draws on three decades of experience across government and industry to explain why contractors often struggle despite investing significant time and money in business development. Her argument is that growth does not begin with responding to more requests for proposals. It begins with becoming valuable to the customer long before the formal competition starts.

Through her initiatives, Tonya Alston is redefining leadership growth in contemporary business.

Ultimately, Tonya Alston seeks to cultivate a generation of women leaders who are prepared to influence their fields.

The philosophy also reflects a larger lesson from Alston’s career: positioning creates leverage. Whether a company is pursuing a federal contract or an executive is preparing for her next opportunity, strategic visibility matters.

Lead & Laurel Creates a Different Kind of Room

Lead & Laurel brings that positioning philosophy into women’s executive development.

The community is being built around selective access, curated relationships and experiences designed to combine professional connection with personal well-being. Its membership model includes private forums, priority access to events, preferred event pricing and executive coaching with Alston.

Lead & Laurel’s planned experiences extend beyond the usual conference ballroom. Alston has described intimate executive roundtables, wellness-centered gatherings and invitation-only events in markets including Washington, North Carolina, Miami, New York, Atlanta, Los Angeles, London and Paris.

The concept addresses a persistent problem in corporate leadership: women can reach senior positions while still lacking spaces where they can communicate candidly with peers who understand the expectations, isolation and scrutiny that often accompany executive responsibility.

Lead & Laurel is not positioned as another broad professional association. It is intended to be a relationship-driven community where achievement is recognized at the door and conversations can move immediately toward growth, alignment and opportunity.

That distinction could become especially valuable for women transitioning into board service, entrepreneurship, consulting, investment or higher corporate leadership.

An Executive Expanding Her Influence

Alston’s evolution from federal contracting leader to author and community builder illustrates a broader shift among experienced executives. Increasingly, senior leaders are turning decades of institutional knowledge into intellectual property, advisory platforms and communities that can influence an industry beyond a single corporate position.

Through The Alston Group, Lead & Laurel and her nonprofit work with Healing the Living, Alston is assembling a portfolio that connects business strategy with executive development and community impact.

She is also expanding the definition of growth. Revenue and contract awards remain important, but Alston’s latest work recognizes that sustainable leadership is also built through trusted relationships, personal alignment and access to the right rooms.

What Comes Next for Tonya Alston

The next phase of Alston’s leadership journey will center on growing Lead & Laurel into a global executive community while expanding the reach of Stop Chasing, Start Shaping among government contractors and growth teams.

If the platform succeeds, its impact will be measured by more than membership numbers. Its real value will appear in the collaborations created, board appointments secured, businesses launched and leadership decisions strengthened through the relationships built inside the community.

Tonya Alston has spent much of her career teaching organizations how to stop waiting for opportunity and start shaping it. With Lead & Laurel, she is giving accomplished women a space to apply that same principle to their own careers—and to help one another enter the next room with greater clarity, confidence and influence.

Related Posts

Black Women Entrepreneurs Continue Reshaping America’s Economic Future

Across America, Black women entrepreneurs are continuing to build businesses, create jobs, generate wealth, and expand their influence across nearly every sector of the economy — leaving a powerful and undeniable imprint on the nation’s business landscape. From technology and healthcare to media, beauty, finance, real estate, logistics, education, and professional services, Black women-owned businesses […]

Janice Bryant Howroyd: How She Built America’s Largest Black Woman-Owned Company

Few entrepreneurial journeys in American business history are as inspiring as that of Janice Bryant Howroyd. Janice Bryant Howroyd’s entrepreneurial journey is not just a personal success story; it is a blueprint for aspiring business leaders worldwide. With a fierce determination to succeed against the odds, her story encapsulates the essence of resilience and innovation. […]

Gwen Arrington Expands Her Impact Through AI Innovation and Technology Leadership

As artificial intelligence continues reshaping industries across the globe, Gwen Arrington AI Innovation is proving that successful innovation requires more than excitement about emerging technology—it requires experience, discipline, and execution. Arrington, founder and CEO of Arrington Innovative Solutions (AIS), has built a reputation as a trusted AI execution strategist helping organizations transform ideas into practical, […]

A Legal Partner for Business Growth

Every successful business reaches a point where legal guidance becomes more than a necessity—it becomes a competitive advantage.

For entrepreneurs, startups, and established companies alike, having experienced legal counsel can mean the difference between protecting years of hard work and facing costly mistakes.

That is exactly where Shavon J. Smith, founder of The SJS Law Firm, has built her reputation.

Serving as both a Business Attorney and Fractional General Counsel, Smith works alongside business owners to help them make informed decisions before challenges become legal disputes. Her practice centers on providing ongoing legal strategy rather than simply reacting when problems occur.

It’s an approach that mirrors the role of an in-house legal executive—without requiring businesses to hire a full-time general counsel.

Why Mid-Year Legal Reviews Matter

As businesses move into the second half of 2026, Smith is encouraging owners to pause and evaluate the legal health of their organizations.

Halfway through the year is an ideal time to review contracts, update policies, assess compliance, and ensure that agreements signed months—or even years—ago continue to protect the company’s interests.

Business conditions evolve quickly.

Markets change.

Partnerships expand.

New employees join organizations.

Each of these developments can expose companies to unnecessary risk if legal documents haven’t kept pace.

Don’t Ignore the “Entire Agreement” Clause

One of the topics Smith recently highlighted in her monthly client newsletter is the importance of the “Entire Agreement” clause—a section that many business owners overlook when signing contracts.

While it may seem like standard legal language buried near the end of an agreement, the clause can have significant consequences.

Generally, an Entire Agreement provision establishes that the written contract represents the complete understanding between the parties. It can prevent earlier emails, conversations, verbal promises, or side agreements from being considered if a dispute arises later.

For business owners, that means assumptions or informal discussions may carry little legal weight if they are not reflected in the final signed agreement.

Smith encourages entrepreneurs to carefully review every contract—not just the pricing and deliverables, but the legal provisions that ultimately determine how disputes are resolved.

Fractional General Counsel: A Growing Trend

One of the fastest-growing legal models today is the use of Fractional General Counsel.

Instead of hiring a full-time attorney, businesses retain experienced legal counsel on an ongoing basis, receiving executive-level legal guidance while controlling costs.

This approach allows companies to receive advice on:

• Contract negotiations
• Employment issues
• Corporate governance
• Compliance
• Risk management
• Vendor agreements
• Business expansion strategies

For many growing companies, it provides sophisticated legal support without the expense of building a full legal department.

Smith has embraced this model, giving entrepreneurs direct access to strategic legal insight as they scale their businesses.

Sharing Legal Knowledge Beyond the Courtroom

Beyond serving clients, Smith continues educating business owners through newsletters, speaking engagements, and podcast appearances.

Beyond serving clients, Smith continues educating business owners through newsletters, speaking engagements, and podcast appearances.

She recently joined a business podcast to discuss legal issues entrepreneurs frequently overlook—from entity formation and contract negotiations to reducing liability and building businesses that are legally prepared for long-term growth.

Her message is consistent:

Legal planning should be integrated into business strategy—not treated as an afterthought.

BBR Take

Great companies aren’t built only with vision.

They’re built with protection.

Every successful entrepreneur eventually discovers that contracts, governance, compliance, and strategic legal planning become just as important as sales and marketing.

Shavon J. Smith understands that reality.

By helping business owners anticipate challenges before they become expensive problems, she has established herself as more than an attorney—she is a strategic business advisor focused on helping entrepreneurs build companies that are positioned to thrive.

For business leaders entering the second half of 2026, her advice is both practical and timely: review your legal foundation today, because the strongest businesses are built on more than great ideas—they’re built on solid agreements.

Follow Shavon J. Smith

📍 X (Twitter): @thesjslawfirm
📍 Instagram: @ShavonJSmith
📍 Facebook: Your Small Business General Counsel

BBR Leadership Rating: 9.2/10 ⭐⭐⭐⭐⭐

BBR Take: Shavon J. Smith exemplifies the modern business attorney by combining legal expertise with strategic business insight. Her proactive approach to legal counsel empowers entrepreneurs to focus on growth while reducing risk, making her one of this year’s standout leaders featured in Black Business Review’s People on the Move.

Why She Scores High

Shavon J. Smith has positioned herself where legal strategy meets business growth. Rather than serving as an attorney businesses call only when problems arise, she operates as a trusted strategic advisor, helping entrepreneurs proactively navigate contracts, compliance, employment matters, and risk management. Her focus on preventative legal counsel makes her an invaluable resource for growing companies.

BBR Black Wealth & Business Summit

Read – Episode 1: Ownership Over Consumption

Related Posts

3 Ways Small Black-Owned Businesses Can Increase Cash Flow in Q3

For many small businesses, the third quarter is where the year either gains momentum or starts to slow down. Summer spending shifts, consumer habits change, and many business owners find themselves trying to close the gap before the holiday season arrives. Cash flow is the lifeblood of every business. Revenue may look strong on paper, […]

State of African-American Owned Businesses

Black Entrepreneurship Continues to Rise Despite Ongoing Challenges African American entrepreneurs are continuing to make major strides across the small business landscape, building companies, creating jobs, and expanding economic influence despite facing ongoing financial and structural barriers. According to research highlighted in recent small business reports, many Black business owners remain optimistic about their ventures […]

10 Crucial Reasons Why Businesses Crash: Safeguarding Success through Avoidance

(BBR) Building a successful business requires immense dedication, strategic planning, and a thorough understanding of potential pitfalls. Unfortunately, not every entrepreneurial venture achieves the desired level of success. Business crashes can occur due to various factors, and it is crucial for entrepreneurs to identify and address these issues to prevent a catastrophic outcome. In this article, […]

In business, the most consequential moves are often the quietest.

The Sheila Johnson Salamander Marriott deal showcases a transformative moment in the hospitality sector.

Specifically, the Sheila Johnson Salamander Marriott deal exemplifies strategic foresight.

They are not announced with spectacle or wrapped in the noise of public celebration. Instead, they unfold behind boardroom doors, through private negotiations, strategic partnerships, and carefully timed decisions that only reveal their true significance over time. To the casual observer, they may appear to be little more than rebranding’s or management shifts. But to those who understand wealth, institutional capital, and long-term positioning, these moments often signal something far greater.

The implications of the Sheila Johnson Salamander Marriott deal are vast, influencing both local and national markets.

Understanding the Sheila Johnson Salamander Marriott deal is crucial for those in the industry.

Ultimately, the Sheila Johnson Salamander Marriott deal will set new benchmarks for excellence.

This shift in the industry is largely attributed to the Sheila Johnson Salamander Marriott deal.

Moreover, the Sheila Johnson Salamander Marriott deal symbolizes a significant evolution in luxury hospitality management.

The success of the Sheila Johnson Salamander Marriott deal will likely encourage more collaborations.

For many, the Sheila Johnson Salamander Marriott deal represents a prime example of strategic growth.

The potential of the Sheila Johnson Salamander Marriott deal is being closely monitored across industries.

The Sheila Johnson Salamander Marriott deal encourages a reevaluation of luxury assets.

In essence, the Sheila Johnson Salamander Marriott deal is about more than just business; it’s about legacy.

The ramifications of the Sheila Johnson Salamander Marriott deal will be felt for years to come.

Ultimately, the Sheila Johnson Salamander Marriott deal will redefine luxury standards.

The Sheila Johnson Salamander Marriott deal highlights the power of strategic alignments.

In conclusion, the Sheila Johnson Salamander Marriott deal is a pivotal moment for the hospitality landscape.

As we look ahead, the Sheila Johnson Salamander Marriott deal will serve as a case study for future ventures.

The ongoing significance of the Sheila Johnson Salamander Marriott deal cannot be underestimated.

The Sheila Johnson Salamander Marriott deal exemplifies the intersection of luxury and strategy.

Ultimately, the Sheila Johnson Salamander Marriott deal will benefit everyone involved.

With the Sheila Johnson Salamander Marriott deal, the future looks promising.

The Sheila Johnson Salamander Marriott deal is a testament to strategic foresight in business.

In retrospect, the Sheila Johnson Salamander Marriott deal will be seen as a milestone.

The Sheila Johnson Salamander Marriott deal will inspire future leaders to think boldly.

As a result, the Sheila Johnson Salamander Marriott deal represents a new era.

Finally, the Sheila Johnson Salamander Marriott deal encapsulates innovation in hospitality.

The Sheila Johnson Salamander Marriott deal remains a focal point for discussion among industry experts.

In essence, the Sheila Johnson Salamander Marriott deal will influence industry standards moving forward.

In conclusion, the Sheila Johnson Salamander Marriott deal is a significant event in luxury hospitality history.

The Sheila Johnson Salamander Marriott deal represents a melding of tradition and innovation.

That is precisely what may be unfolding now between Sheila Johnson, London-based Henderson Park, and Marriott International.

Insights on the Sheila Johnson Salamander Marriott deal

The discussions surrounding the Sheila Johnson Salamander Marriott deal highlight a strategic shift in the hospitality industry.

As these talks develop, the implications of the Sheila Johnson Salamander Marriott deal will shape the future of luxury hospitality in America.

Reports that Salamander Washington DC may soon transition into Marriott’s management ecosystem have stirred conversation throughout hospitality and investment circles. On the surface, it appears to be a straightforward story: a luxury hotel in the nation’s capital, currently operated under Johnson’s Salamander Hotels & Resorts brand, could soon align itself with one of the largest hospitality systems in the world. Yet beneath that surface lies a far more important story—one about asset strategy, capital evolution, and the quiet sophistication of modern Black ownership.

To understand the significance of this moment, one must first understand Sheila Johnson herself—not simply as a billionaire, but as a builder of systems.

Long before Salamander became a respected name in luxury hospitality, Johnson had already secured her place in American business history as the co-founder of BET. BET was not merely a television network; it was a cultural institution that transformed Black media representation in America. When BET sold to Viacom in 2001 for approximately $3 billion, Johnson became America’s first Black female billionaire.

For many entrepreneurs, a liquidity event of that scale would have marked the finish line. For Johnson, it became a beginning.

She understood something old-world wealth builders have always known: capital must be repositioned into durable assets if it is to survive beyond the founder. Cash flow can create comfort, but hard assets create legacy. Real estate, land, hospitality, and lifestyle infrastructure have long been the backbone of generational wealth because they outlast markets, trends, and personalities.

This understanding shaped the creation of Salamander Hotels & Resorts in 2005.

Salamander was never designed to compete on volume. It was designed to compete on intimacy, exclusivity, and experience. The brand carved out a distinct place in the luxury market by focusing on high-touch service, wellness, equestrian culture, golf, and curated experiences that appealed to affluent travelers and institutional decision-makers alike. Over time, its portfolio expanded to include flagship properties such as Salamander Middleburg in Virginia, Innisbrook Resort, Aspen Meadows Resort, and the legendary Half Moon.

Each of these properties represented more than hospitality. They represented ecosystems of influence.

Luxury hospitality has always been about proximity to power. Golf courses, spas, executive retreats, and private dining spaces are often where business relationships are cultivated and deals quietly begin. Johnson understood this early. Her move into hospitality was never random diversification. It was strategic placement.

That strategy reached a new level in September 2022 when Salamander Hotels & Resorts partnered with Henderson Park to acquire the former Mandarin Oriental Washington, DC for $139 million. The acquisition represented far more than a luxury hotel purchase; it was a deliberate move into one of the most strategically important hospitality markets in the world. Positioned on the Southwest waterfront near The Wharf and the National Mall, the 373-room property gave Sheila Johnson a visible foothold in the nation’s capital, a city where policy, capital, and influence intersect daily.

Washington is unlike any other American market. It is not simply driven by tourism or leisure. It is powered by government, diplomacy, law, and lobbying. The people moving through its hotels often shape national policy, control institutional money, and influence international affairs. To own a trophy asset in that environment is to place yourself directly inside an ongoing ecosystem of decision-making and capital circulation.

At the time of the acquisition, Johnson was clear about her vision for the property. “Salamander Washington DC is already a grand luxury hotel and we intend to introduce the warm and inviting feeling that guests enjoy at other Salamander properties.”

At the time, the quote felt like a simple statement of intent. In hindsight, it reads like a strategic blueprint.

It was not about replacing the building’s luxury identity. It was about layering Salamander’s own hospitality DNA onto an already established asset and making it culturally distinct.

That vision quickly materialized through a $35 million renovation strategy. This was not a surface-level facelift. It was a complete repositioning. Guest rooms were redesigned. Public spaces were modernized. A two-level Salamander Spa was introduced, deepening the brand’s emphasis on wellness as a luxury pillar.

Perhaps most significantly, ownership introduced Dōgon, the Afro-Caribbean culinary concept led by Kwame Onwuachi.

This was not simply another hotel restaurant.

It was a statement of identity.

In today’s luxury market, dining is often the anchor of relevance. Travelers increasingly seek cultural authenticity alongside premium accommodations. Dōgon gave Salamander Washington DC something many luxury properties struggle to create: a reason for people to visit even when they are not staying overnight.

That matters because the strongest hospitality assets today function as ecosystems. They generate revenue from lodging, dining, wellness, events, and local engagement. They become destinations rather than merely accommodations.

This repositioning has significantly enhanced the property’s profile, and now, less than four years later, a new chapter may be beginning.

Marriott.

Reports indicate that Henderson Park and Salamander are exploring a management transition that would place the property under Marriott’s operational umbrella, likely within its Autograph Collection.

That distinction is critical.

This does not appear to be an outright sale.

It appears to be a management conversion.

That changes everything.

Under such a structure, Henderson Park would likely retain ownership of the real estate while Johnson could maintain equity or strategic involvement. Marriott would assume operational oversight, plugging the property into its global reservation systems, corporate relationships, and the massive Bonvoy loyalty ecosystem.

That ecosystem now includes more than 200 million members worldwide.

The significance of that cannot be overstated.

Independent luxury brands, no matter how strong, often face natural limitations in distribution. Marriott removes those limitations instantly. More bookings. Higher occupancy. Better corporate penetration. Increased international traffic. Improved retention through loyalty incentives.

These are not cosmetic advantages.

They are valuation drivers.

And in commercial real estate, valuation is ultimately tied to performance.

The math tells the story.

The property was acquired for $139 million. Ownership invested another $35 million into its transformation, creating a total basis of approximately $174 million. With the renovations complete, Dōgon driving cultural traffic, and Marriott potentially entering as an operational partner, market estimates suggest the property’s valuation could reasonably rise into the $210 million to $260 million range.

That represents a paper gain of $36 million to $86 million in less than four years.

That is not accidental.

That is disciplined execution.

For Henderson Park, it is textbook private equity. Acquire. Improve. Stabilize. Institutionalize. Increase net operating income. Expand valuation multiples. Create optionality.

Simple.

For Sheila Johnson, however, the implications go beyond return metrics.

This potential Marriott transition may signal the next evolution of the Salamander brand itself.

Operating luxury urban hotels is complex. Cities like Washington carry operational burdens shaped by labor costs, political cycles, convention schedules, and unpredictable economic shifts. Even the strongest boutique operators can benefit from scale.

Marriott offers scale.

By allowing Marriott to assume management, Johnson may be making one of the most intelligent wealth-preservation decisions of her career.

Keep ownership.

Reduce operational complexity.

Increase performance.

Protect brand equity.

Expand future possibilities.

This is how legacy wealth has always moved.

Too many entrepreneurs confuse ownership with operational control. But the wealthiest families and institutions have long understood that true control often lies in equity, not management. Sometimes the smartest move is not to run the machine, but to own it while someone else optimizes it.

That may be exactly what is happening here.

And if successful, this model could influence Salamander’s broader strategy moving forward. Future partnerships. Branded residences. Private member clubs. International expansion. Institutional joint ventures.

All are now within reach.

Hospitality itself is evolving. The strongest luxury assets are no longer simple hotels. They are integrated ecosystems combining lodging, residences, wellness, culinary experiences, and exclusive memberships. These hybrid models create recurring high-margin revenue streams and deeper customer loyalty.

This is where the future of luxury wealth is heading.

And Sheila Johnson appears positioned directly within that future.

For Black business leaders, there is an important lesson here. Ownership is not always about keeping your name on the front door. Sometimes it is about understanding when to align with larger systems to increase value without surrendering equity.

That is not compromise.

That is strategy.

Johnson has already proven she can build. BET proved that. Salamander proved that.

What she may now be proving is something even more important—that legacy is not simply about creation. It is about evolution.

If this Marriott transition moves forward, it will not mark the end of Salamander’s presence in Washington. It will mark the beginning of a new phase—one built on stronger institutional alignment, greater asset performance, and expanded strategic leverage.

In the highest rooms of business, the loudest moves are rarely the most powerful. More often, it is the quiet repositioning—the moves few understand until years later—that create the greatest long-term wealth.

And if history has taught us anything about Sheila Johnson, it is that she has never been interested in merely making history.

She has always been focused on building what comes next.

BBR People on the Move

BBR Black Wealth & Business Summit

(BBR) In a momentous leap towards progress and equality, the United States Marine Corps has achieved a significant milestone with the appointment of General Michael Langley as its first Black four-star general. This historic event not only marks a triumph for General Langley but also stands as a testament to the Marine Corps’ commitment to diversity and inclusion within its ranks.

General Langley’s journey to this esteemed position has been characterized by dedication, resilience, and exemplary leadership. His rise through the ranks serves as an inspiration to countless individuals, regardless of their background, reaffirming the principle that hard work, skill, and determination can shatter barriers and pave the way for groundbreaking achievements.

Langley’s achievement is a significant step forward in the Marine Corps’ ongoing efforts to foster an environment that values diversity and promotes equal opportunities for all its members. His appointment highlights the organization’s commitment to recognizing and promoting talent irrespective of race, thereby setting a powerful example for other branches of the military and institutions worldwide.

This groundbreaking accomplishment holds profound implications for the broader context of American society. General Langley’s ascension to the rank of four-star general challenges preconceived notions, dispels stereotypes, and underscores the importance of embracing diversity in all aspects of public service. His success sends a resounding message: the United States Armed Forces are committed to reflecting the rich tapestry of the nation they serve and protect.

General Langley’s achievement also serves as a source of pride and inspiration for the African American community, showcasing that barriers can be broken, and ceilings shattered through unwavering determination and exceptional performance. His story resonates far beyond the military sphere, reminding everyone that no dream is too grand, and no goal is unattainable with hard work and perseverance.

Furthermore, General Langley’s appointment is a significant stride towards building a more inclusive future for all individuals, irrespective of their race, color, or creed. It reinforces the idea that diversity is not just a buzzword but a cornerstone of a thriving, harmonious society. By recognizing and celebrating the talents and capabilities of individuals from all backgrounds, societies can tap into a wealth of perspectives, ideas, and experiences, fostering innovation, understanding, and unity.

In conclusion, General Michael Langley’s groundbreaking achievement as the Marine Corps’ first Black four-star general is a momentous occasion in the annals of American military history. It signifies not only a personal triumph but also a collective victory for diversity, equality, and inclusion. His story serves as a beacon of hope, illuminating the path towards a future where merit knows no boundaries and where every individual has the opportunity to rise, excel, and make history.

(BBR) The business empire of Los Angeles Lakers legend Magic Johnson has just grown by leaps and bounds.

He wasted no time in distancing his new regime, which includes billionaire investor Josh Harris, from the old regime headed by the controversial Daniel Snyder. He let it be known that team employees will be treated with respect and that they’ll be safe at work, two things that weren’t true under Snyder.

In an interview with Craig Melvin of NBC’s “Today,” Johnson choked up while talking about setting a positive example for the African-American community.

 “I would look at it, for sure. Listen, breaking these barriers, just going through these doors, is important to me. As a proud Black man — you’ve got me choking up now,” he said, fighting back tears.

“This is a great opportunity. I don’t know why God blessed me with these opportunities, but I’m going to excel, not only for myself, but my family, but for all African Americans, making sure we can see (ourselves) in these seats. And I want people to know that we can do the job.”

Through his business empire, the five-time NBA champion has created plenty of opportunities for Black individuals, especially those who are from disadvantaged backgrounds. Through it all, he has been a huge inspiration and a beacon of positivity and hope.

(BBR)  Companies that went public and how they’re doing

Which are the top Black-owned businesses in the United States today? With many successful businesses privately held—and not required to report detailed information to the Securities and Exchange Commission (SEC)—this report focuses on publicly traded companies.

 KEY TAKEAWAYS

• Of the 5.8 million employer businesses in the United States in October 2020, 140,918 were Black-owned.
• Ninety-six percent of Black-owned businesses were nonemployer firms, compared to 80% of all small businesses. Thirty-two percent of Black-owned employer firms were in the healthcare and social services sector.
• Black entrepreneurs face obstacles such as a limited access to startup capital, less managerial and industry experience, and operating in lower-revenue industries.
• RLJ Lodging Trust, one of the largest publicly owned Black businesses, reported total assets of $5.92 billion in June 2020.

Public vs. Private

Many of the world’s most successful businesses are publicly traded companies, such as Amazon, which originally went public in 1997 and has a net worth of $982.62 billion as of Jan. 26, 2022.12 That said, some very successful companies chose to stay private to avoid the scrutiny and regulations that come with going public. Cargill, for instance, has been in operation and remained private since 1965; as of 2022, the global food corporation has already pulled in $165 billion in revenue.34 Granted, this operational privacy comes at the cost of not being able to sell stock on a public exchange, which could help a company grow even further.

 

As privately held companies aren’t required to meet the SEC’s strict filing requirements, it can be difficult to get specific information about the success of a privately held business. Public companies, however, must comply with SEC rules; this allows us to learn a lot more about them. Unfortunately, the SEC only requires businesses to disclose financial performance data, which wouldn’t include the shareholder demographics needed to ascertain whether or not a company is minority-owned.

 

In another demonstration of the long-term economic effects of systemic racism, only an estimated 140,918 of the approximately 5.8 million employer businesses in the United States in November 2022 were Black-owned. That’s around 2.44% of employer businesses.5 Yet the 41.1 million Black people living in the U.S. at the end of 2020 comprised 12.4% of the total population.6

 

When you get to public companies, the numbers are even smaller: Of the 4,300 public companies in the U.S. reported by American Council for Capital Formation in June 2022, we found seven Black-owned companies. That comes to approximately 0.16% of public companies.7

 

What Makes a Business Black-Owned?

One complication with classifying the ownership of any public company is that it has stockholders. What makes a public company—or any business—Black-owned? The National Minority Supplier Development Council (NMSDC) defines a minority business enterprise (MBE) as a “business [that] is at least 51% owned by [United States citizens who are Asian, Black, Hispanic, and/or Native American] or, in the case of a publicly owned business, at least 51% of the stock is owned by one or more such individuals.” Simply put, the management and daily operations should be controlled by the minority owner(s)/shareholder(s). The NMSDC further clarifies that a Black-owned business is one whose owner is a “U.S. citizen of African descent,” which would include both African Americans and African immigrants.8

 

 

Despite defining what constitutes a minority-owned public company, the NMSDC doesn’t offer any concrete data on the number of active Black-owned public companies in the U.S., nor is that information readily available from other official sources. All companies were included in this article based primarily on self-reporting themselves as Black-owned public companies.

“I would make a caveat for a situation where somebody owns less than 51% of the shares, but they were equal partners,” says Shomari Wills, a journalist and the author of Black Fortunes, one of Ebony magazine’s True Read picks of 2018. “Also, I would make a caveat for situations where somebody was a minority stakeholder—not the owner, but they were operating as the managing partner of the company.”

 

And here are two other terms that help define the market:

 

1. Based on the most recent U.S. Census Survey of Business Owners, 96% of Black-owned businesses were nonemployer firms, compared to 80% of all small businesses.9 Nonemployer firms are defined as “businesses that that have no paid employees and are subject to federal income tax.” As these firms are generally small and have minimal economic impact, they are left out of most other Census Bureau business statistics, making it difficult to acquire a full picture of the Black business landscape in the U.S.1011
2. The remaining 4% of Black-owned businesses are employer firms.12 According to the Census Bureau’s Annual Business Survey, 29.5% of Black-owned employer firms were in the healthcare and social services sector.5

 

“I think [the healthcare and social services sectors] lend themselves to community-based businesses, which have a pretty extensive history… Providing local services or community-based services is something that goes back all the way to segregation when you couldn’t necessarily go and open a business downtown if you were a Black person, so you had to look at businesses that you could operate within your own community,” Wills explains.

 

Some of those community-based businesses have grown into major companies, and two of the seven top Black-owned public companies that we identified are in the healthcare sector.

 

Particular Challenges Facing Black-owned Businesses

In 1992, there were 621,912 Black-owned businesses in the U.S.13 By 2012, that number rose to 2.58 million, before decreasing to 1.1 million by 2020 (pre-pandemic).14 Two months later, this number had fallen to 640,000.15 Periods of ups and downs are common to all businesses. However, Black entrepreneurs continue to encounter unique obstacles that make it difficult to reach the same level of success as many of their competitors, such as a limited access to startup capital, fewer useful connections, and operating in lower-revenue industries.16

 

 

Black Metropolis: A Study of Negro Life in a Northern City, published in 1945 by two American sociologists, is considered a foundational work on the subject of African American sociology and cultural studies. It influenced generations of scholars and activists and is a key resource for investigating the impact of redlining, racial bias in medical-care decision-making tools, and the history of lending discrimination in the United States.

Capital

Approximately 44% of Black business owners rely on cash to fund their business, compared to 37% for the average small business owner.17 Cash is a riskier means of financing a business, as it dips into funds also needed for essential items and paying bills, whereas a commercial loan allows business owners to retain much of their liquid assets. But getting access to loans isn’t easy.

 

In 2018, the likelihood of large banks approving at least some financing for White-owned firms was 64.8%, compared to 44.8% for their Black-owned counterparts.18 Additionally, in 2017, banks were also three times as likely to follow up with White applicants than with more qualified Black business owners.19 In 2014, 28.4% of Black entrepreneurs found that their profits were negatively impacted by their access to capital, while 22.6% were themselves negatively impacted by the actual cost of capital.20

 

 

As reported by The Business Journals, since peaking prior to the 2007–2008 financial crisis, the annual number of loans to Black-owned businesses through the U.S. Small Business Administration’s 7(a) program decreased by 84% in 2020, compared to a 53% decline in 7(a) loans awarded overall. The report found an overall trend of significantly less lending to businesses in Black-majority neighborhoods, compared to White-majority ones. Orv Kimbrough, chief executive officer (CEO) of Midwest BankCentre, referred to this issue as “corporate redlining.”21

Connections

Black business owners have less access to the types of mentor and peer networks that can help grow a business—and they are less likely to have family connections who can help. In a 2017 survey conducted by Prosperity Now, 23.3% of White firm owners gained prior work experience as part of a family member’s business, compared to 12.6% of Black entrepreneurs.22

 

Cash Flow

Black firms are more frequently found in industries with a lower earning potential, including beauty salons, childcare, home healthcare services, janitorial services, and barbershops. And even in these sectors, White businesses still tend to earn more than competing Black-owned businesses.23

 

Meanwhile, Black businesses in more lucrative sections—including physician and mental health offices, plumbing and heating/air conditioning contractors, offices of lawyers, and full-service restaurants—also earn less than White counterparts.23

 

Overall, Black-owned firms averaged $58,000 in revenue in 2017, while White businesses averaged $546,000.24

 

Publicly Traded Black-owned Businesses

Amid—and despite—these challenges, some Black-owned businesses have become substantial public companies. Below are some of the biggest publicly traded Black-owned businesses, organized according to total assets.

 

They operate in a variety of sectors: healthcare, finance, broadcasting, and technology. One was founded in 1921, two were founded in the 1940s, two in 1979–1980, and the rest are 21st century companies.

 

RLJ Lodging Trust

• Total Assets (September 2022): $4.97 billion25
• Total Revenue (September 2022): $891.47 million26
• Earnings per Share (September 2022): $0.1026
• Year Founded: 200027
• Headquarters: Bethesda, Md.28

 

The most successful company listed here, RLJ Lodging Trust (RLJ), is a real estate investment trust with a portfolio consisting of 96 hotels across 23 states and the District of Columbia. Founded by Robert L. Johnson and Thomas J. Baltimore Jr. in 2000 as RLJ Development, RLJ Lodging focuses on “premium-branded, focused-service and compact full-service hotels” to capitalize on their upside potential. RLJ wasn’t publicly traded until 2011. In 2017, it completed a merger with FelCor Lodging Trust, allowing it to acquire 37 additional properties. The company’s portfolio includes several well-known brands, such as Courtyard by Marriott, Residence Inn by Marriott, Hilton Garden Inn, Homewood Suites by Hilton, Embassy Suites by Hilton, Hyatt Place, and Wyndham.27

 

Urban One

• Total Assets (September 2022): $1.25 billion29
• Total Revenue (September 2022): $352.56 million30
• Earnings per Share (September 2022): $0.0930
• Year Founded: 197931
• Headquarters: Silver Spring, Md.32

 

Originally founded by Cathy Hughes as Almic Broadcasting in 1979, Radio One started out with just a single station: WOL-AM in Washington, D.C. In 1987, Radio One added an FM station to its roster: WMMJ, also in Washington, D.C. Twelve years later, Radio One sold its first shares of common stock, making Hughes the first African American woman to head a publicly traded company. From 1999 to 2000, Radio One purchased an additional 35 radio stations. By the time the company changed its name to Urban One (UONE and UONEK) in 2017, it had expanded into a multimedia conglomerate, with brands including a television network (TV One, launched in 2004), two radio groups—one local, one syndicated (the latter, Reach Media, was acquired in 2005), a digital media company (One Digital, launched in 2007), and a branded content agency (One Solution, created in 2008).31 It would later add a television-focused digital magazine, CLEO TV, in 2019.33

 

Broadway Financial Corp.

• Total Assets (September 2022): $1.17 billion34
• Total Revenue (September 2022): $25.61 million35
• Earnings per Share (September 2022): $0.0635
• Year Founded: 194736
• Headquarters: Los Angeles37

 

Broadway Financial Corp. (BYFC) is the holding company for City First Bank, a federally chartered savings bank.38 Broadway Federal Bank was founded in 1947 as the Broadway Federal Savings and Loan Association by a group of Los Angeles civic leaders, including real estate broker H.A. Howard and dentist Dr. H. Claude Hudson. In 2021, Broadway Federal Bank merged with City First Bank, which made it the largest Black-owned minority depository institution (MDI) in the U.S. The Treasury Department has designated the bank as a Community Development Financial Institution (CDFI), due to its dedication to serving those who otherwise would be locked out of the financial system.36

 

Ping Identity Holding

• Total Assets (June 2022): $1.13 billion39
• Total Revenue (June 2022): $156.72 million40
• Earnings per Share (June 2022): $(0.81)40
• Year Founded: 200241
• Headquarters: Denver42

 

Founded by Andre Durand in 2002, Ping Identity Holding (PING) specializes in a wide variety of digital and online identity protection services through its trademarked Ping Intelligent Identity platform, including multifactor authentication, intelligent access controls, and identity data management.4344 Vista Equity Partners bought out the company in 2016 and later took it public in 2019.41 Ping Identity Holding has an impressive clientele, which includes five of the top North American retailers, seven of the largest healthcare companies, and 13 of the largest U.S. banks.44

 

Carver Bancorp

• Total Assets (September 2022): $755.72 million45
• Total Revenue (September 2022): $13.10 million46
• Earnings per Share (September 2022): $(0.43)46
• Year Founded: 194847
• Headquarters: New York City48

 

Much like Broadway Financial Corp., Carver Bancorp (CARV) is the holding company for Carver Federal Savings Bank, another federally chartered savings bank and CDFI. Founded by a group of community leaders and small business owners in 1948, Carver offers consumer and business banking products and services to traditionally underserved African American communities.49

 

Axsome Therapeutics

• Total Assets (September 2022): $338.96 million50
• Total Revenue (September 2022): N/A51
• Earnings per Share (September 2022): $(3.17)52
• Year Founded: 201253
• Headquarters: New York City54

 

The largest company in the healthcare sector on this list, Axsome Therapeutics (AXSM), is a biopharmaceutical firm. Founded in 2012 by Dr. Herriot Tabuteau, Axsome focuses on the development of novel therapies for managing central nervous system (CNS) disorders, for which treatment options are limited.55 The conditions that Axsome Therapeutics’ products are designed to treat include migraines, narcolepsy, fibromyalgia, major depressive disorder (MDD), and Alzheimer’s disease-related agitation, in addition to smoking cessation treatment.56

 

American Shared Hospital Services

• Total Assets (September 2022): $43.41 million57
• Total Revenue (September 2022): $14.71 million58
• Earnings per Share (September 2022): $0.1758
• Year Founded: 198059
• Headquarters: San Francisco60

 

American Shared Hospital Services (AMS) operates within the technological side of the healthcare industry by providing equipment to hospitals and medical centers.61 Although predecessor and California limited partnership Ernest A. Bates, M.D., Ltd. (d/b/a American Shared Hospital Services) was originally formed in 1980, American Shared Hospital Services wasn’t incorporated until 1983.59 The company offers several different financing solutions so that medical institutions can afford the state-of-the-art medical technology that ordinarily might be out of their reach.62 American Shared Hospital Services specializes in leasing radiosurgery, proton beam radiation therapy (PBRT), and intensity-modulated radiation therapy (IMRT) and image-guided radiation therapy (IGRT) equipment.63 Through its GK Financing subsidiary, American Shared Hospital Services is also the worldwide leader in Gamma Knife unit ownership, with the associated financing model having been expanded to incorporate the financing of other technology solutions, such as IMRT and PBRT.62

 

How many Black-owned companies are publicly traded?

According to our research, there are currently seven Black-owned public companies in the U.S.: RLJ Lodging Trust, Urban One, Broadway Financial Corp., Ping Identity Holding, Carver Bancorp, Axsome Therapeutics, and American Shared Hospital Services. Some Black-owned companies that were previously publicly traded are now subsidiaries of other businesses, such as such as Global Blood Therapeutics, which was acquired by Pfizer in October 2022.64

 

What is the largest Black-owned public company?

With total assets of $4.97 billion as of September 30, 2022, real estate investment trust RLJ Lodging is the largest Black-owned public businesses in the U.S.25

 

What is the oldest Black-owned company?

Founded in 1881, E.E. Ward Moving & Storage Co. is the oldest African-American-owned business in the U.S. Based in North Carolina, E.E. Ward is owned by husband and wife Brian and Dominique Brooks.65

 

The Bottom Line

If you’re looking for an alternative way to support Black-owned businesses outside of purchasing goods and/or services, consider one of these companies for your portfolio.

 

Directories of Black-Owned Businesses

For more information on the vast number of businesses with Black ownership, consult the following websites:

 

• Official Black Wall Street
• The Buy From a Black Woman Directory
• Black-Owned Market
• Black-owned Etsy Shops
• BankBlackUSA
• Black Enterprise BE 100s: The Nation’s Largest Black Businesses
• Bon Appétit’s Black-Owned Restaurant Lists Circulating the Internet, Organized by City