Robert L. Johnson

Robert Louis Johnson founded BET — Black Entertainment Television — in 1980 and built it into the first cable network targeting Black audiences, eventually selling it to Viacom in 2001 for approximately $3 billion. The sale made him the first Black billionaire in American history. BET changed the media landscape by proving that Black audiences were not a niche market but a massive, underserved one.

Born in Hickory, Mississippi, in 1946, the ninth of ten children, Johnson earned his undergraduate degree from the University of Illinois and a master's from Princeton's Woodrow Wilson School. He worked as a lobbyist for the National Cable Television Association before launching BET with a $15,000 bank loan and a $500,000 investment from cable pioneer John Malone.

BET launched on January 25, 1980, initially broadcasting only two hours per week. Johnson expanded it into a 24-hour network that included music videos, news, comedy, and original programming. The network became a cultural institution — the place where Black music, comedy, and culture were centered and celebrated. After selling BET, Johnson became the first Black majority owner of a major professional sports team (the Charlotte Bobcats, now Hornets). His RLJ Companies now spans hotels, banking, and private equity.