Sheila Johnson is famous for being one of the wealthiest African American women in the US. Her remarkable career as a businesswoman spans across multiple industries. Some of the industries include sports, media, as well as hospitality. She is the co-founder of Black Entertainment Television and has also made significant investments in sports teams. Her entrepreneurial journey has been an inspiration for many. This article brings you a detailed estimate of Sheila Johnson net worth, focusing on the sources of her wealth. It will also brief you about her major achievements in the business world.
Sheila Johnson Early Life
Born in 1949, Sheila Johnson was the daughter of a neurosurgeon based in McKeesport, Pennsylvania. Her mother was an accountant while her father was a worker in the Veteran Administration. Sheila completed her education at Proviso East High School. She was reportedly the cheerleader of her school. In her senior year of schooling, she served as the captain of the varsity squad. Later, Sheila Johnson completed her graduation from the University of Illinois, Urbana-Champaign.
Sheila Johnson’s Career Achievements
Co-Founder of Black Entertainment Television (BET)
Sheila Johnson married Robert L. Johnson in 1969 and founded Black Entertainment Television (BET) with him in 1980. Viacom later bought the television network from the couple in 2001. She then founded Salamander Hotel and Resorts. After her divorce from Robert, she sold her shares in BET and invested the funds in real estate as well as hotels. She also hosted an annual PGA Tour Championship in her Innisbrook resort. She also produced a film that came out in 2013 named The Butler. She also holds stakes in the Washington Capitals, the Wizards, and the Washington Mystics.
Sheila Johnson: Estimated Fortunes
Sheila Johnson’s current net worth is $1 billion, becoming one of the wealthiest African American women. She sold BET along with her former husband to Viacom for $3 billion in 2001.
Expansion into Hospitality and Real Estate
After her divorce from Robert in 2002, her net worth was determined as $670 million. However, in 2009, her net worth came down to $400 million. She founded the Salamander Hospitality chain in 2005. In 2017, her net worth rose again up to $750 million. In 2024, according to Forbes, her net worth is $1 billion, making her the first black woman to become a self-made billionaire.
Sheila Johnson’s Business Portfolio
Sheila Johnson’s fortunes are invested in various industries. This makes her one of the most versatile businesswomen. Sheila is also serving as the vice chairman of Monumental Sports & Entertainment. The company manages professional sports teams like the Washington Wizards, Washington Capitals, and Washington Mystics. Sheila Johnson is also the CEO as well as the founder of Salamander Hospitality Chain. The portfolio of the Salamander chain includes Innisbrook Resort and Golf Club, a PGA tour golf course in Palm Harbor, Hotel Bennett in Charleston, South Carolina, Aurora Anguilla in British West Indies, The Salamander Resort & Spa in the Blue Ridge Mountains in Middleburg, Virginia, and Half Moon in Montego Bay, Jamaica.
Sheila Contributions As A Philanthropist
Sheila Johnson is the global ambassador of CARE. The humanitarian organization is famous for its contributions to poverty eradication. She’s also credited for her initiative named Sheila’s I Am Powerful Challenge. It raised around $8 million for women’s empowerment and poverty eradication. She’s also an ambassador of the Healthy Site Institute. She has also been a chair of various boards and fraternities actively working for saving culture. Her journey in philanthropy has been nothing short of splendid.
Sheila Johnson Net Worth: Awards And Achievements
In 2012, Sheila Johnson received the prestigious Eleanor Roosevelt Val-Kill medal, honored for being a personality with far-reaching influence. In 2018, Sheila became the recipient of the Lincoln Medal by Ford’s Theatre Society. Those who exemplify the achievements and legacy as well as the character of the former American President are awarded this medal. In 2019, she also received the Order of Lincoln Award from The Lincoln Academy of Illinois. It was the highest of the honors the State of Illinois ever granted. She was also honored with the Billie Jean King Leadership Award from the Women’s Sports Foundation in 2019 as well.
Conclusion
Sheila Johnson is the first African American woman with a net worth reaching up to $1 billion. Her contributions to society are remarkable. Her entrepreneurial story of success inspires many, especially women. Her business continues to grow and her strategic investments have definitely paid off.
