The inaugural ForbesBLK-inspired list will reveal the Black community’s most influential names, from the wealthiest individuals to rising entrepreneurs and community leaders driving economic impact.
Do you know where Silicon Valley is?
Billionaire and World Wide Technology chairman David Steward once asked his niece this question. Her response may come as a surprise, and here’s a clue: it’s not in California. “‘I know exactly where it is,’” Steward recalls his niece answering. “‘[Silicon Valley] is in St. Louis.’ I said, ‘Do you know why you said that? Because I’m in St. Louis. World Wide Technology is in St. Louis.’”
This month, Forbes revealed its annual list of the 400 richest people in America, and it estimates Steward is worth $11.4 billion. That makes him the richest Black person in America. The thing is, not many people in the Black community knew this – until now.
It’s another reason we’re excited to announce public nominations for the inaugural ForbesBLK 50 list, which intends to amplify millionaires and billionaires like Steward. The list’s theme matches Forbes’ pillars: power, wealth, and impact. It will identify 50 individuals America needs to know in the Black community, and it will do so annually. Candidates for the list can include C-suite executives, entrepreneurs, and community leaders.
The 50 finalists will be selected using a methodology consisting of internal Forbes data, input from financial institutions, and suggestions from ForbesBLK community members and advisors.
Here are the list’s categories:
Power: Individuals in this category should hold high-ranking roles in business, community, or government.
Wealth: Candidates must be worth at least $100 million for consideration.
Impact: Entrepreneurs with startups attempting to solve a critical problem who have raised at least $50 million in capital; C-Suite business executives (CEO, COO, CFO/CRO positions only); community members, leaders of thriving non-profits, etc).
Individuals like Honey Pot Company cofounder Beatrice Dixon are examples of who we’re looking to include in the ForbesBLK 50. In January, Dixon sold a majority stake in her feminine care company to investment firm Compass Diversified for $380 million.
Other examples include CEOs like Damola Adamolekun. In September, the 35-year-old was appointed CEO of Red Lobster, the largest seafood restaurant in the U.S. Adamolekun is now tasked with restoring Red Lobster after the chain filed for bankruptcy in May. Adamolekun is the former CEO of P.F. Chang’s and led that brand to nearly $1 billion in sales in 2023.
In May 2023, Forbes launched ForbesBLK as a global community and news platform that champions Black entrepreneurs, professionals, leaders, and creators who drive systemic change in business, culture, and society. Since its launch, ForbesBLK has hosted two business summits in Atlanta and drives storytelling with its Journey To ForbesBLK Summit series and through Forbes’ partnership with the Nasdaq MarketSite.
The ForbesBLK 50 list adds to the platform’s robust content, and we will celebrate the listers at our annual ForbesBLK business summit. Like the Forbes 400 and the Next Billion-Dollar Startups series, The ForbesBLK 50 will identify and celebrate the next generation of self-made Black millionaires and billionaires.
Nomination Guidelines
- Nominations will be vetted by Forbes staff with assistance from ForbesBLK advisors. Semifinalists will be contacted for any additional material and to confirm information.
- For founders and CEOs of for-profit businesses, we’re looking for businesses with a minimum of $5 million in annual revenue.
- We do not allow self-nominations.
- We welcome nominations from family, friends and colleagues.
- Fill out this form, ensuring all the information is accurate and, most importantly, highlighting why your nominees should be on this list.
- The deadline to submit all nominations for the U.S. list is 11:59 p.m. ET on Sunday, November 10, 2024.
Fill out form below or click here.