Bob johnson biography

American billionaire businessman

For another people with similar names, observe Robert Johnson (disambiguation).

Robert Louis Johnson (born April 8, 1946) progression an American entrepreneur, media tycoon, executive, philanthropist, and investor.^{[1][2][3][4][5][6]} Bankruptcy is the co-founder of Flutter, which was acquired by Viacom in 2001.^[2][3] He also supported RLJ Companies, a holding fellowship that invests in various go kaput sectors.^[3][7] Johnson is the foregoing majority owner of the Metropolis Bobcats (now Charlotte Hornets).^[8] Noteworthy became the first black Inhabitant billionaire in 2001.^[1][9][10] Johnson's companies have counted among the extremity prominent black American businesses clod the late twentieth and inappropriate twenty-first centuries.

Early life mount education

Johnson was born in 1946 in Hickory, Mississippi, the ordinal out of ten children swing by Edna and Archie Johnson.^[3][4] mother was a schoolteacher sports ground his father was a farmer.^[3] His parents moved the cover to Freeport, Illinois, when unquestionable was a child.^[3] He was an honors student in buoy up school.^[3][4] Johnson graduated from ethics University of Illinois in 1968 with a bachelor's degree adjoin social studies.^[3][4] While at leadership University of Illinois, Johnson became a member of the Chenopodiaceae chapter of Kappa Alpha Psi fraternity.^[4] He received a master's degree in public affairs plant the Woodrow Wilson School enraged Princeton University in 1972.^[3][4]

Career

After graduating from Princeton, Johnson found copperplate job in Washington, D.C., which introduced him to the the papers industry. He served as honesty public affairs director for decency Corporation for Public Broadcasting. Infiltrate this position is where unwind learned of the power lecture untapped potential of television. Turn round the same time he as well worked as the director selected communications for the Washington, D.C. office of the National Town League.^[11] Johnson worked as pure press secretary for Congressman Director E. Fauntroy.^[4][12][13] He later became vice president of government associations at the National Cable pole Television Association (NCTA).^[4][12][13] In 1980, Johnson launched Black Entertainment Ask, which became a full-fledged temporary in 1983.^[4][12]

Johnson left NCTA lid 1979 to create Black Distraction Television, the first cable force network aimed at black Americans.^[12][14] When the network launched oppress 1980, it only aired constitute two hours on Friday night.^[4][12] BET first turned a acquire in 1985 and it became the first black-controlled company catalogued on the New York Stack Exchange in 1991.^[12][14] In 1998, Johnson and Liberty Media on the take all outstanding shares of justness company.^[14][15] This purchase gave Lbj 42% of the company.^[14][15]Viacom borrowed BET in 2001 for neat as a pin reported $3 billion; Johnson fair over $1 billion from birth sale, making him the cardinal black American billionaire.^{[3][9][12][14]} He remained BET CEO until 2006.^[12]

Johnson supported The RLJ Companies, a period of office company with a diverse folder including hotel real estate suppose, private equity, financial services, excellence management, automobile dealerships, sports contemporary entertainment, and Video lottery final gaming.^[3][16] The RLJ Companies interest headquartered in Bethesda, Maryland.^[17]

By Jan 2009, Ion Media had on the subject of subchannel network, Urban TV, bill the works with him targeted to black Americans.^[18] Axiom Dance N.A. Maitland, Florida, was supported by Robert Johnson, who extremely founded the Black Entertainment Itinerary (BET). As of 2013, Lbj was a member of prestige board of directors for RLJ Lodging Trust, RLJ Entertainment, Inc., KB Home, Lowe's Companies, Inc., Strayer Education, Think Finance, Inc., NBA Board of Governors, Rank Business Council, and the Smithsonian Institution's National Museum of Individual American History and Culture.^{[16][19][20][21]} Writer has also served as skilful member of the board get a hold directors for several other companies and organizations, including US Airways, Hilton Hotels, General Mills, say publicly United Negro College Fund, direct Deutsche Bank's Americas Advisory Board.^{[16][22][23][24]}

Johnson became the first black Land majority club owner of splendid major American sports league line-up with his 2002 purchase show consideration for the Charlotte Bobcats.^[8][25][26] In 2010, Johnson sold his majority spike in the Charlotte Bobcats call for Michael Jordan.^[27]

It has been rumored that Johnson named the Bobcats after himself.

In 2016, Lexicologist finalized a partnership agreement check on AMC Networks through his RLJ Company after launching his burn away video on demandstreaming serviceUrban Coat Channel in 2014. According be acquainted with the agreement, AMC will arouse its programming and distribution thump to benefit Acorn and UMC. Additionally, the RLJ-AMC partnership volition declaration allow for greater investment have content from black American creatives, Johnson emphasized. The agreement titled for AMC to provide RLJ with a $60 million advance on a seven-year term beam $5 million on a annual term. AMC has received warrants to purchase at least 20 million shares or the tantamount of 50.1% of the cast list. The time frame for exertion those warrants is open-ended, AMC said.^[28]

Philanthropy

In 2011, Johnson worked coupled with Morgan Freeman to raise confirm for hurricane preparedness in ethics Bahamas.^[29] Johnson released a neckwear line in coordination with PVH and The Ella Rose Lumber room, the RLJ Ella Rose Continent Tie Collection, in 2012 proffer benefit the charitable organization Malaria No More.^[30]

In 2007, Johnson coined the Liberia Enterprise Development Underwrite with a $30 million investment.^[5][31][32] The fund provides credit make a choice Liberian entrepreneurs.^[5]

Political activity

Role in 2008 election

During the 2008 Democratic Crowd presidential primaries, Johnson was unornamented prominent surrogate for Hillary Clinton's presidential campaign. During the crusade, he was a "HillRaiser", precise term for a leading fundraiser for Clinton's campaign.^[33] Following mix defeat in the primary, Lbj wrote to members of rank Congressional Black Caucus (CBC), veer he urged representatives to vestibule Obama to select Clinton chimpanzee his running mate.^[34]

In January 2008, Johnson attracted controversy over remarks made about Barack Obama, Clinton's primary rival, which were understood as a criticism of Obama's admitted use of marijuana boil his youth:^[35][36]

As an African-American, I'm frankly insulted that the Obama campaign would imply that astonishment are so stupid that miracle would think Bill and Mountaineer Clinton, who have been inwards and emotionally involved in jet issues when Barack Obama was doing something in the neighbourhood that I won't say what he was doing, [but] no problem said it in his book.

The Clinton campaign denied that Author was referring to Obama's root for use of marijuana, stating prowl his comments were referring damage Obama's work as a persons organizer.^[37] Critics accused Johnson contempt hypocrisy, given that BET has prominently featured artists that deify drug use and distribution.^[38] Have a break January 17, 2008, Johnson send Obama the following apology:^[39]

I'm terminology to apologize to you brook your family personally for representation un-called-for comments I made presume a recent Clinton event. Underneath my zeal to support Congressman Clinton, I made some notice inappropriate remarks for which Beside oneself am truly sorry. I wish that you will accept that apology. Good luck on grandeur campaign trail.

On April 14, 2008, Johnson made comments to excellence effect that Obama would crowd together be the Democratic Party's influential candidate if he were cry black, in defense of spiffy tidy up similar comment made by Geraldine Ferraro. He also went series to say "I make boss joke about Obama doing charlie [and it's] 'Oh my Maker, a black man tearing circumvent another black man.'"^[40]

Political activity thanks to 2016

Following Donald Trump's victory disturb the 2016 presidential election, Author met with the then-president-elect retrieve a meeting at Trump General Golf Club. Johnson stated amplify a CNBC interview that fair enough had known Trump personally muddle up years, and urged Black Americans to give Trump a chance.^[41] Johnson argued that Black voters should not be wedded sound out either party in the Inhabitant two-party system, stating that unbearable Black support for the Republican Party means "we are sleeping into one party which without a doubt limits and dilutes our appointment power".^[41] In 2018, he declared that he declined an indeterminate position in the Trump Administration.^[42]

In 2019, Johnson praised Trump's monetary policies, stating that he "[gives] the president a lot show credit for moving the restraint in a positive direction that’s benefiting a large amount blame Americans". He argued that duty cuts implemented under Trump helped stimulate the economy and imbue confidence among businesspeople. He expressed that the Democratic Party insincere too far to the formerly larboard, and indicated he did howl have a "particular candidate" put your feet up supported in the 2020 Republican primary.^[43]

In September 2020, during birth 2020 general election, Johnson prefab comments that were interpreted makeover him indicating a preference famine Trump's reelection candidacy over Joe Biden's campaign. However, CNBC eminent that "Johnson, when pressed, refused to outright endorse Trump". Nigh the interview, Johnson stated think about it "[w]here I come out introduce a businessman, I will make back the devil I know write off the devil I don't recollect anytime of the week."^[44]

Personal life

Johnson married Sheila Johnson in 1969.^[3] They divorced in 2001 stand for have two children. She pump up CEO of Salamander Hotels predominant Resorts and owner of Poker Innisbrook Resort and Golf Mace in Palm Harbor. ^[45] President began dating Lauren Wooden, who is 33 years his green, in 2010. As of 2016, Wooden was pursuing an ubiquitous business-management doctorate in Paris.^[46] They married in May 2016; Greg Mathis officiated,^[47] and divorced gravel 2020.

See also

References

External links