When it comes to wealth creation and legacy building, business exits — the moment when a company is sold to a buyer or goes public — are often the ultimate milestone. For Black entrepreneurs, these exits not only represent personal success but also monumental achievements in representation, ownership, and generational wealth.
From billion-dollar tech buyouts to culturally iconic brand acquisitions, here are some of the most notable and highest-valued business exits in Black history:
Beats by Dre – $3 Billion (2014)
In one of the most high-profile exits in business history, Apple acquired Beats Electronics for a staggering $3 billion.
One major lesson that can be learned is to never count your money until the deal is done. In 2022, nearly a decade after the acquisition, it was revealed that $200 million from the initial offer was lost after Dr. Dre (alongside singer Tyrese) shared a video rejoicing about being “the first billionaire in Hip Hop”—which nearly costed him the entire deal. Ultimately, the cards fell in his favor.
As co-founder, Dr. Dre did indeed become one of the wealthiest figures in hip-hop overnight. The deal included both Beats headphones and the Beats Music streaming service, and it helped cement Apple’s entry into audio and streaming dominance. Dre reportedly walked away with over $700 million from the sale.
Robert L. Johnson – BET – $3 Billion (2001)
Robert L. Johnson made history when he sold Black Entertainment Television (BET) to Viacom for nearly $3 billion in 2001. Founded in 1979 with his then-wife Sheila Johnson, BET became the first Black-owned company to be listed on the New York Stock Exchange. The network revolutionized Black media representation and became a cultural cornerstone. The sale not only cemented BET’s legacy but also made Johnson the first African American billionaire. Since then, he has remained an influential figure in business, politics, and philanthropy.
Oprah Winfrey – OWN (Oprah Winfrey Network) – $70 Million Stake Sale (2020)
Founder: Oprah Winfrey
As one of the most powerful figures in media, Oprah Winfrey expanded her empire with the launch of the Oprah Winfrey Network (OWN) in 2011—a joint venture between her company Harpo, Inc. and Discovery Communications. In 2020, Discovery purchased an additional 24.5% stake in OWN from Harpo for $70 million, increasing its ownership to 95%. While Winfrey retained an influential role at the network, the deal reflected her ability to build, scale, and profit from a media brand rooted in purpose and storytelling. OWN has become a platform for diverse voices and narratives, further cementing Oprah’s legacy as a business icon.
George Foreman – Foreman Grill – $137.5 Million (1999)
Legendary boxer and entrepreneur George Foreman turned a simple kitchen appliance into a household name—and a personal fortune. While serving as the face of the George Foreman Grill, he reportedly earned over $200 million from the product’s success through licensing and royalties. In 1999, Foreman finalized a deal to sell the rights to his name and likeness to Salton, Inc. for $137.5 million. The payout included $113.75 million in cash spread over five years, plus $23.75 million in Salton stock. It remains one of the most lucrative endorsement deals ever for an athlete.
TIDAL – $297 Million (2021)
Jay-Z made headlines yet again when he sold a majority stake in TIDAL, the artist-owned streaming platform, to Jack Dorsey’s fintech company Square for $350 million. Jay-Z originally bought TIDAL for $56 million and later brought on several artists as co-owners. With the sale, Jay-Z reportedly netted over $150 million, all while remaining involved in the company’s leadership.
Charlotte Hornets – $3 Billion Valuation (2023)
In 2023, Michael Jordan sold his majority ownership in the Charlotte Hornets for an estimated $3 billion. Jordan originally purchased the team in 2010 for $275 million. Although it’s a sports franchise rather than a traditional business, the exit marks one of the largest and most profitable sales by a Black owner in U.S. history.