Did you know America's first black billionaire was from East Baltimore?
BALTIMORE — Reginald F. Lewis was a visionary entrepreneur, philanthropist, and most notably - the first African American to build a billion-dollar company, TLC Beatrice International Holdings Inc.
Lewis was born on December 7, 1942, and grew up in East Baltimore.
By the age of 10, Lewis had set up his own delivery service that he used to distribute the Afro-American Newspaper. By the age of 12 he was able to sell his paper-route after growing it to over 100 customers.
Later, Lewis would attend Dunbar High School in West Baltimore where he would excel in football, basketball, and baseball.
After graduating from high school in 1961, he went on to attend Virginia State University where he had been awarded a football scholarship. He earned a degree in economics at VSU, before being invited to attend Harvard Law School in 1965. He was the only student in the history of the institution to be admitted without applying.
After college, Lewis worked for several law firms before starting his own law practice that focused on corporate law, mergers, and acquisitions.
In 1984, he made history by acquiring TLC Beatrice International Holdings Inc., a multinational food company, in a leveraged buyout worth $985 million. This made Lewis the first African American to build a billion-dollar company.
Under Lewis' leadership, TLC Beatrice International Holdings became one of the largest black-owned businesses in the world, with operations in more than 30 countries. Lewis was known for his innovative business strategies and investments, and was considered a successful and visionary entrepreneur.
Aside from his business achievements, Lewis was also a philanthropist. He established the Reginald F. Lewis Foundation to support education, culture and economic development. He also donated millions of dollars to various educational institutions, including his alma mater, Virginia State University.
Reginald F. Lewis passed away on January 19, 1993, at the age of 50. He left a lasting legacy as a successful businessman and philanthropist, and continues to inspire future generations of entrepreneurs and business leaders. He is widely regarded as one of the greatest African American business leaders of all time, and his life and work serve as a testament to the power of hard work, determination, and vision.
