When it comes to tracking dollars, few people can make sense of the restless financial market, let alone turn a profit. But African-American financial wizards are more common than you might think. In fact, black financial advisers and strategists are some of the most sought after in their competitive profession. Here’s our list of top African-American financial gurus:
Mellody Hobson
When Mellody Hobson was growing up, money was a troubling issue. She was the youngest of six kids raised by a single mother, and the lack of money made Hobson want to become a student of finance. Her attempts to understand money fueled her ambition in becoming one of the most respected financial gurus in the business. Hobson is president of the Chicago based investment management firm Ariel Investments, LLC. She is also the chairman of the board of trustees for the company, which manages billions of dollars in assets. Her financial wizardry goes beyond her work at Ariel. Hobson is a nationally recognized advisor on financial literacy and investor education. She is a regular financial contributor on ABC’s “Good Morning America”, and a regular columnist for Black Enterprise. Hobson is also a director of three public companies: DreamWorks Animation SKG, Inc., Estée Lauder Companies, Inc. and Starbucks Corporation.
Chris Gardner
Thirty years ago, it would have been difficult to believe Chris Gardner had the makings of an investment guru. Not because he lacked the knowledge to do so, but he seemed to lack the necessary tools. That’s because thirty years ago Gardner was homeless. His heart-wrenching story from homeless single dad to financial superstar became the basis for the film, “The Pursuit of Happyness” starring Academy Award nominee Will Smith. Despite major setbacks in life, Gardner was able to earn a spot at the competitive financial company Dean Witter, and from there, his career in money management took off. He eventually founded Gardner Rich in 1987. The company reportedly has close to $1 billion in assets under it’s management.
Michelle Singletary
Michelle Singletary knows how to navigate the some times troublesome waters of finance. She learned how to do so from her grandmother. In her book, “Spend Well, Live Rich: How to Get What You Want with the Money You Have,” she explains how her grandmother, who was on an annual salary that never exceeded $13,000, ended up owning her own home, paying off a car loan, and had a savings account that supplemented her Social Security check and small pension. That early financial education set the tone for Singletary’s “mama knows best” advice–advice that can be found in The Washington Post column, “The Color of Money,” which is now carried in more than 100 newspapers across the country, including, the Atlanta Journal Constitution, Miami Herald, Boston Globe, and Philadelphia Inquirer. Singletary is also a media personality as she has appeared on the “Diane Rehm Show,” “Oprah,” “NBC’s Today Show,” “The Early Show on CBS,” “Nightline,” and CNN.
Dr. Boyce Watkins
Dr. Boyce Watkins has been preaching the gospel of economic empowerment and financial responsibility for some time now. That message has pretty much landed him a platform to offer his advice and financial commentary on national media outlets, including CNN, Good Morning America , MSNBC, FOX News, The Today Show and The Tom Joyner Morning Show. The Finance Professor at Syracuse University has an impressive educational background to support his guru status. Dr. Watkins earned BA and BS degrees with a triple major in Finance, Economics and Business Management. In college, he was selected by the Wall Street Journal as Outstanding Graduating Senior in Finance. He went on to earn a Masters Degree in Mathematical Statistics from The University of Kentucky and a PhD in Finance from The Ohio State University.
Kelvin Boston
Kelvin Boston (left)
A product of the public housing projects of South Wilmington, DE, Boston returned to his old neighborhood shortly after graduating from Lincoln University (PA.) and organized a housing counseling service to help low- income families become homeowners. Since that time, he’s amassed even more financial wisdom to share and does just that as the executive producer and host of the “Moneywise with Kelvin Boston” public television series. He is also the author of the best-selling book, “Smart Money Moves For African Americans,” and “Who’s Afraid to Be A Millionaire?”.
Bob Johnson
Though Bob Johnson is known for his contributions to media, he’s also known for his fortune, which earned him the title of the nation’s first African-American billionaire. But in 2006, he began to focus on the world of financial business. He launched RLJ Equity Partners, a middle-market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses. RLJ originates, structures and invests in traditional buy-outs, recapitalizations and growth capital infusions. RLJ primarily invests in North American companies with enterprise values between $50 million and $250 million.
Gerald B. Smith
Gerald B. Smith (right)
Gerald B. Smith’s long career in investments and finance has given him an opportunity not only to make money, but to also help people do the same. He has more than 30 years of experience in the fixed-income markets. He currently serves as the Chairman and Chief Executive Officer of Smith, Graham & Company Investment Advisors, L.P. The global investment management firm specializes in managing fixed-income and equity domestic and global investment portfolio strategies for institutional clients. Smith is a member of the firm’s Investment Policy Committee. Before forming the company, he was Senior Vice President and Director of Fixed Income for Underwood Neuhaus & Company. Smith also serves on the Board of Directors for The Charles Schwab Family of Funds, one of the largest mutual fund complexes in the country. Smith is also a founding member of the New York Futures Exchange where he worked with institutional investors hedging their interest rate risk using financial futures.
