Earl Gilbert Graves Sr. | |
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 Graves in 2004 | |
| Born | Earl Gilbert Graves (1935-01-09)January 9, 1935 Brooklyn,New York City, U.S. |
| Died | April 6, 2020(2020-04-06) (aged 85) White Plains, New York, U.S. |
| Alma mater | Morgan State University |
| Occupations |
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| Known for | Founder ofBlack Enterprise magazine |
| Spouse | Barbara |
| Children | 3, includingEarl G. Graves Jr. |
Earl Gilbert Graves Sr. (January 9, 1935 – April 6, 2020) was an Americanentrepreneur,publisher, businessman,philanthropist, and advocate ofAfrican-American businesses. A graduate ofMorgan State University, he was the founder ofBlack Enterprise magazine and chairman of the media company Earl G. Graves, Ltd. He was the director forAetna andExecutive Board member of theBoy Scouts of America.[1] He was the father ofEarl G. Graves Jr.
Born inBrooklyn, New York, to Earl Graves, an immigrant from Barbados, and Winifred (Sealy) Graves, who was from Trinidad. Graves grew up in theBedford-Stuyvesant section ofNew York City. A member ofOmega Psi Phi fraternity, he received aBachelor of Arts degree in economics in 1958 fromMorgan State University.[2] He was anROTC graduate and attendedAirborne andRanger Schools.[1]
Having written a letter to theDemocratic National Committee, he became a volunteer for the 1964 presidential campaign ofLyndon B. Johnson. His work with the party gave Graves the opportunity to be administrative assistant to newly elected SenatorRobert F. Kennedy in 1965. Following the assassination of the senator, Graves would land a seat on the advisory board of theSmall Business Administration (SBA) in 1968.
He undertook his first job at the age of seven selling boxed Christmas cards for his uncle. His territory was severely limited due to his father's rule that he could only sell to people living on their side of the block.
While at Morgan State University, Graves made a name for himself as an entrepreneur. Realizing that there was a big market for flowers during Homecoming Week, he went to two competing local florists and cut deals with both to sell flowers on campus. For a percentage of the profits, the florists provided the flowers while Graves covered the campus.
His time on the SBA's advisory board and his direct work with the agency would lead Graves to his belief in the need for advice to businesses in economic development and urban affairs, which convinced him to create an annual newsletter that would chronicle issues relevant to black business people, and raise awareness of the importance of black consumer power. At the suggestion of then SBA DirectorHoward J. Samuels, Graves would expand the concept of a newsletter into a full-fledged magazine.[3]
Graves started Earl G. Graves, Ltd, and under that holding company he began the Earl G. Graves Associates management consulting firm. In August 1970, the first issue ofBlack Enterprise magazine hit newsstands. Earl G. Graves, Ltd, grew to include a number of divisions, including publishing, marketing, radio, television and event coordinating arms. The firm is the co-owner of the private equity fund Black Enterprise Greenwich Street Corporate Growth Fund, an equity partnership formed with Travelers Group, Inc. The fund aims to invest and promote minority operated businesses.[4]
In 1990, Graves andMagic Johnson purchased thePepsi Cola bottling franchise inWashington D.C., and Graves was CEO until 1998, when he sold his ownership to Pepsi.[5][6] He held board and director memberships with a number of other corporations, includingAMR Corporation,Daimler AG,Federated Department Stores andRohm and Haas, as well as board member of theAmerican Museum of Natural History andHayden Planetarium in New York City. He was also a member of the Board of Trustees ofHoward University.[7][8]
Graves received theSilver Buffalo Award from theBoy Scouts of America in 1988, and was theNational Commissioner from 1985 to 1994. He received theNAACP'sSpingarn Medal in 1999. In 2002, Graves was named as one of the 50 most powerful and influential African Americans in corporate America byFortune magazine.
Graves was appointed by the administration ofGeorge W. Bush to be on the Presidential Commission for theNational Museum of African American History and Culture. On April 26, 2007, Earl G. Graves Sr. was inducted into the Junior Achievement U.S. Business Hall of Fame. In 2009, he became the recipient of the 2009NCAA Silver Anniversary Award.
In his honor,Morgan State University's business school was named Earl G. Graves School of Business and Management. It was opened in 2015.
A "special thanks" to Mr. Graves is included inBayer Mack's 2019 documentaryNo Lye: An American Beauty Story.[9]
Graves died inWhite Plains, New York, on April 6, 2020, from complications ofAlzheimer's disease at the age of 85.[10][11][12]
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