I’m reflecting on the book Black Fortunes: The Story of the First Six African Americans Who Escaped Slavery and Became Millionaires by Shomari Wills, which recounts the stories of the first six African American millionaires who emerged from slavery. One of these figures, hailing from the Caribbean, was of mixed heritage—half black and half white—and passed as white during his early years.

Uncovering Intriguing Patterns in the Text

As I delve into the text, I’m noticing intriguing patterns. However, I’m uncertain about the identity of the second person discussed in the book, particularly while listening to the audio version. I recall details about a woman who married a white captain and later inherited a considerable sum, possibly around a million dollars in today’s currency. Her life spanned only 46 years, which was considered old for a black individual during that era, given the harsh conditions of slavery.

Perils Faced by Enslaved Individuals

Enslaved individuals faced numerous perils, from tetanus caused by rusty farm tools to maternal mortality due to inadequate care during childbirth. They also contended with insect-borne diseases like those transmitted by mosquitoes, along with the overall harsh working and living conditions inherent to slavery.

Key Takeaways from “Black Fortunes”

Regarding key takeaways from the book, there’s an interesting anecdote in the prologue. I can’t recall if the author was referring to one of the book’s subjects or someone he personally knew—I’ll need to revisit that section. Nonetheless, the author recounts the story of a man, possibly a grandfather of sorts, who initially launched a business, akin to a trucking or shipping enterprise in his time. As this venture turned profitable, he reinvested his earnings into acquiring assets like warehouses and even invested in a Negro Baseball League team, illustrating a smart financial approach of reinvesting profits into new ventures.

The Blueprint for Growing Wealth

I was explaining to a friend that the concept of growing wealth is actually quite straightforward, though not necessarily easy. It involves starting with one business and diligently working until it becomes profitable. Then, using the profits from that venture to invest in something new, allowing your wealth to grow and diversify over time. It’s a simple blueprint, albeit challenging to execute.

Challenges Faced by the First Black Millionaire

Now, returning to the story of the first black millionaire discussed in the book, it’s notable that he wasn’t a descendant of enslaved African Americans. However, despite his mixed heritage, he faced the same prejudices in America as native Black individuals. For a significant period, he passed as white and was even engaged to a woman from a privileged white family. However, when he disclosed his racial background, he had to flee for fear of his life. The woman informed her father and was instructed never to see him again.

Wealth Accumulation and Political Connections

So, as for how he amassed his wealth, initially, he lived in California during a period when it was part of Mexico. He was granted a substantial amount of land there, which he developed by building a large house. His estate became a significant gathering place, functioning almost as an embassy for Mexico and the United States, attracting influential political figures.

I recall reading about how he strategically leveraged his position to further increase his wealth over time. By the time of his passing, his estate was valued at around $38 million in today’s currency.

The Controversial Legacy of the First Black Millionaire

However, upon his death, with no wife or children to inherit, the California government, which by then was under US control, approached his only living relative, his mother. They offered her $2 million in exchange for signing over the rights to his estate, which was worth far more. This transaction, as the author argues, represents how the wealth of America’s first black millionaire was essentially taken from his family after his death.

Inheritance and Life After Slavery

It sounds like the second story involves a young woman, who became involved with a wealthy ship captain. From what I gather, she was initially purchased as a slave to provide companionship to the captain while he was on voyages. Eventually, she became his mistress, and they had children together. It seems there are several layers to this narrative.

As I understand it, the ship captain passed away, and then the woman inherited his wealth. This sequence of events appears to be how she acquired her fortune.

The Changing Landscape of Wealth and Gender

So, she became a millionaire through inheritance, which continues to be a common path to wealth for many women today—receiving fortunes from parents or spouses. However, this trend is slowly changing as more women enter the workforce and gender norms evolve.

Challenges Faced by Orphaned Children

After inheriting her wealth, she married another man, likely white as well. It seems this was her first relationship after the ship captain, although not necessarily a formal marriage. They had a child together. Unfortunately, she passed away at the age of 46, having survived through slavery and childbirth, which was perilous during those times and still remains challenging, especially for black women and other races today. Although conditions have improved, this progress is worth acknowledging and celebrating. Her death left her child, Robert or Bob, orphaned without a mother.

After the mother’s death, the boy was taken in by his father and ended up working on a ship instead of attending school as planned. He became one of the few boys on board, likely gaining valuable experience in maritime work. This seems to be where the story currently stands in the book, with the anticipation that he may become one of the next wealthy Black individuals mentioned.

The Next Generation of Wealth

It’s interesting to note that Madam C.J. Walker is often recognized as the first black American millionaire because she openly displayed her wealth. This was unlike others who, in the past, had been targeted for their prosperity, leading many to keep their financial success private to protect themselves from violence and theft. These incidents served as lessons for many individuals to maintain a low profile about their wealth, even among those who were less than honorable.

Overcoming Racism: How Black Entrepreneurs Navigated Discrimination

Due to discrimination and racism, many black individuals had to use white proxies to amass wealth for their businesses and investments. This tactic was a necessity for their safety and success. Madam C.J. Walker stands out as the first openly wealthy black millionaire, as she boldly displayed her financial prosperity despite the risks. It’s important to recognize that there were likely others before her who achieved similar success but chose to keep a low profile due to the dangers of racism and violence.

Preserving History: Challenges of Documenting Wealth Amid Adversity

Additionally, historical figures who accumulated wealth under difficult circumstances often left behind limited written records about their lives and achievements. Without written accounts, their stories risk being lost to history. Authors like Wills often have to piece together details from sources like newspapers, clippings, and journal entries to reconstruct these narratives.

Proximity to Whiteness: A Factor in Success Stories

It’s becoming evident that a notable factor in the success stories discussed is the proximity to whiteness, either in the individuals themselves or in their associations. For instance, the first person mentioned was of mixed race and passed as white during his early years, while the woman inherited wealth as a mistress to a white man. The boy, likely the next subject in the narrative, is also described as half white.

Colorism and Success: Exploring Complex Narratives

This observation highlights the role of colorism in shaping the success of black individuals. Generally, the closer one is perceived to whiteness, the less prejudice they may face—a phenomenon that adds an interesting layer to these stories.

Unconventional Paths to Success: The Role of External Associations

Moreover, the first black millionaire’s initial success stemmed from his connections with Mexico, outside of the US system. I’m still processing these thoughts, but this pattern of association and background is intriguing.

Wealth Creation in the Face of Adversity: Insights from “Black Fortunes”

Overall, this book offers a fascinating exploration of wealth creation in the face of racism, prejudice, and discrimination. It provides insights into how these individuals achieved success and what factors contributed to their accomplishments during such challenging times.

Original draft written in October 2019