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Capital Visionaries
Black History Month invites a broader look at howeconomic power has been built, denied, and reclaimed in the United States. During their respective eras, these three leaders helped reshape who couldbuild wealth and influence the nation’s financial institutions.
Born Sarah Breedlove in 1867 to formerly enslaved parents,Walker turned a homemade hair treatment into a national enterprise. After developing what became known as the “Walker System,” she built a sales network that, by 1919, included some 25,000 agents, many of them Black women who gained rare access to steady income and business training. Headquartered inIndianapolis, her company became one of the most successful Black-owned firms of its era. Walker also directed her wealth towardcivil rights and education.
Andrew BrimmerBrimmer became the first Black governor of theFederal Reserve in 1966, serving during a turbulent period forinflation,interest rates, andglobal markets. The son of Louisianasharecroppers, he earned a Ph.D. ineconomics fromHarvard University and built a career inpublic service andcentral banking. At the Fed, he helped shape U.S.monetary policy and broadened Black representation infinancial regulation. He later taught at Harvard and served for decades on the board ofTuskegee University.
Mellody HobsonHobson grew up inChicago, where her family moved frequently and struggled financially, before going on to lead Ariel Investments, one of the nation’s largest Black-ownedasset management firms. She joined the company just after college and became co-CEO in 2019. Hobson also became the first Black woman to lead theboard of directors of anS&P 500 company when she was named chair ofStarbucks. Her work has centered onlong-term investing,corporate governance, andfinancial literacy.
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- Encyclopædia Britannica, Inc.
- Encyclopædia Britannica, Inc.
- Encyclopædia Britannica, Inc.
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