Earl G. Graves, Sr., the man who created Black Enterprise magazine and advocated for entrepreneurship, has died from Alzheimer’s disease in White Plains, New York. He was 85.
Graves passed away at 9:22 p.m. on April 6, according to his son and Black Enterprise CEO Earl Graves Jr. The Brooklyn-raised entrepreneur and philanthropist started Black Enterprise, also known as the Black Business Bible, in 1970 with the intention to give a platform to black-owned businesses.
He jumpstarted the magazine with a $250,000 loan and increased readership by providing free copies of the magazine to black business professionals. Today, the brand celebrates 50 years in business.
“The publication was committed to the task of educating, inspiring and uplifting its readers,” said Graves. “My goal was to show them how to thrive professionally, economically and as proactive, empowered citizens.”
Graves studied business at HBCU Morgan State University before enlisting in the Army. After his service, he worked as a community organizer for the John F. Kennedy Administration.
He would go on to create Black Enterprise, making him a multi-millionaire. Throughout his life, he has served on several corporate boards, including Daimler AG, Aetna and American Airlines, and was CEO of Pepsi-Cola of Washington, DC for eight years.
He also wrote an award-winning book in 1997 called How to Succeed in Business Without Being White.
He is survived by his three sons, Michael, John and Earl Jr. and leaves behind a brother, two sisters and eight grandchildren. His wife of several decades died in 2012.
“A man who helped define and document the strides [that] Black people [made] in American business,” said Al Roker in a Twitter post. “A pioneer in business himself, @blackenterprise magazine is the Bible for business achievement for people of color.”
“Thank u for showing us how we could still make a crazy, good and honest living without having to become an entertainer or ball player,” said DeMarco Morgan. “You showed us through powerful images how we could become the damn boss!” RIP to a legendary businessman.
