Photo Credit: TN
America's Biggest Black-Owned Businesses in 2019
Black Enterprise has released their annual report of the most successful Black-owned businesses in 2019. The list encompasses everything from technology and manufacturing to food services and media, highlighting innovative companies that represent the revenue and employment leaders of Black business. The 100 businesses listed have demonstrated economic influence by producing more than $25 billion in revenues and employing more than 70,000 people. BE’s also compiled lists of the 40 Black-owned auto dealerships across the country as well as financial services companies that range from Black-owned banks to asset managers and private equity firms.
BE has been releasing these lists for more than 45 years, providing the most comprehensive information on the state of Black-owned businesses across industrial, automotive, and financial sectors. To ensure accuracy, the BE research team collected surveys from hundreds of companies as well as information from government agencies, industry associations, entrepreneurs, and corporations. The information includes total revenues for the 2018 calendar year, detailed descriptions of business activities, historical ownership data, and substantiation that the business is at least 51 percent Black-owned or that Black people own at least 51 percent of the controlling shares in the case of publicly traded entities.
Crowning the top 100 list is World Wide Technology, Inc., which boasts annual revenues of over $11 billion and over 7,000 employees. Well-known corporations on the list include a family-owned, independent Coca-Cola bottler in Florida and Salamander Hotels & Resorts, which brought in $1.3 billion and $212 million in revenue in 2018, respectively. The nation’s oldest Black-owned, female-run construction company McKissack & McKissack makes the list at number 64 with $50 million of reported revenues in 2018. Black Enterprise even made its own list, coming in at number 89 with $15 million in revenue.