Earl Gilbert Graves, Sr.
Founder of Black Enterprise Magazine , 1935
Earl Graves always had a head for business. As a child he sold Christmas cards door-to-door for his uncle. Unfortunately, his profits were limited because he wasn’t allowed to cross the street. In college, Graves capitalized on Homecoming Week by cutting deals with local florists and selling the flowers on campus during the event. While serving on the Small Business Administration advisory board, he realized the need for more minority businesses, that need inspired him to create Black Enterprise magazine. In August 1970, the first issue hit newsstands and it has been profitable since its 10th issue. Black Enterprise has a paid circulation of 500,000 with a readership of 4 million. Most of the subscribers are African-American professionals, executives, entrepreneurs, and policy makers. Today, the magazine is the nationally recognized authority on black business development. Graves has expanded his empire to include a number of divisions including marketing, radio and television and special events. Black Enterprise hosts the Women of Power Summit, the Entrepreneur Conference and the Golf and Tennis Challenge. In 1972, Graves was named one of the 10 most outstanding minority businessmen in the country by the president of the United States and was given the National Award of Excellence. In 2002, Fortune magazine named him one of the 50 most powerful and influential African-Americans in corporate America. And in 2007, Graves was inducted into the U.S. Business Hall of Fame.
