George E. Johnson, an influential figure in the hair-care industry, passed away at his home in Chicago at the age of 99. His journey from a sharecropper’s cabin to establishing the first Black-owned company listed on a major American stock exchange is notable.
Mr. Johnson founded Johnson Products Company, known for products like Ultra Sheen and Afro Sheen. These products contributed to his status as one of the wealthiest African Americans during a time when high earnings for celebrities and executives were rare.
The company also played a role in shaping pop culture by sponsoring the popular television dance show “Soul Train.”
Mr. Johnson didn’t just influence the cosmetics industry; he co-founded the Independence Bank of Chicago, a significant Black-owned financial institution where he served as chairman until the bank was sold in 1995.
George E. Johnson’s legacy as a business leader provides insight into his impact on both the financial sector and cultural landscapes.