Early Life and Education
Robert L. Johnson was born on April 8, 1946, in Hickory, Mississippi, as the ninth of ten children. He graduated from the University of Illinois in 1968 with a bachelor's degree in social studies. Later, he earned a master's degree in public affairs from Princeton University in 1972.
Rise to Success
After graduating from Princeton, Johnson worked in Washington, D.C., which introduced him to the television industry. He served as the public affairs director for the Corporation for Public Broadcasting and later became vice president of government relations at the National Cable and Television Association (NCTA). In 1979, Johnson founded Black Entertainment Television (BET) with a $15,000 loan. BET launched in 1980 and became the first Black-owned company to be listed on the New York Stock Exchange in 1991. He sold BET to Viacom for $3 billion in 2001, becoming the first African American billionaire.
Key Business Strategies
Johnson's key strategies included recognizing and addressing the lack of programming for African Americans. He secured investments from industry leaders and took advantage of the growth of cable television. He expanded BET's programming to include a wide range of content. After selling BET, Johnson founded The RLJ Companies, a holding company with diverse investments in hotel real estate, private equity, and other sectors.
Philanthropy
Johnson has been involved in philanthropy, raising funds for hurricane relief in the Bahamas and supporting the charitable organization Malaria No More. In 2007, he created the Liberia Enterprise Development Fund with a $30 million investment.