REGINALD F. LEWIS (1942-1993) was a businessman and corporate attorney. He was the first black person to build a billion dollar company and also a prominent philanthropist.
Lewis was born December 7, 1942, in East Baltimore. His family encouraged him to “be the best that you can be” and stressed the value of education at an early age.
In high school, Lewis was elected vice president of the student body. He was also a hard-working student and quarterback of the football team, shortstop on the baseball team, a forward on the basketball team and was team captain of all three.
After graduating in 1961, Lewis attended Virginia State University on a football scholarship. An injury cut his football career short and he focused on school and work. While working as a photographer’s sales assistant, he generated so much business that he was offered a partnership. Lewis declined because he bad bigger things in mind for the future — a handwritten schedule he kept stated: “To be a good lawyer, one must study HARD.” And he did, graduating on the dean’s list his senior year.
In 1965, the Rockefeller Foundation funded a summer school program at Harvard Law School to introduce a select number of black students to legal studies.
Lewis was accepted and he made such an impression that he was invited to attend Harvard Law School that fall — the only person in the history of the school to be admitted before applying. During his third year at Harvard Law, Lewis discovered the direction his career would take as the result of a course on securities law. His senior year thesis on mergers and acquisitions received an honors grade.
Following graduating, Lewis landed a job practicing corporate law with a prestigious New York law firm. But within two years, he and two others had established Wall Street’s first black law firm — Murphy, Thorpe & Lewis.
Lewis wanted to “do the deals myself”, so he established TLC Group, L.P. in 1983. His first successful venture was the $22.5 million dollar leveraged buyout of McCall Pattern Company, a struggling business in a declining industry. Lewis streamlined operations, increased marketing and led the company to two of the most profitable years in McCall’s history. In the summer of 1987, he sold the company for $65 million, making a 90 to 1 return on his investment.
Lewis then purchased the international division of Beatrice Foods (64 companies in 31 countries) in August 1987. After closing the deal in December 1987, Lewis re-branded the corporation as TLC Beatrice International, Inc. At $985 million, the deal was the largest offshore leveraged buyout ever by an American company. As Chairman and CEO, Lewis moved quickly to reposition the company, pay down the debt and vastly increase the company’s worth. With revenues of $1.5 billion, TLC Beatrice made it to Fortune’s 500 and was first on the Black Enterprise List of Top 100 African-American owned businesses. It also became the first black-owned company to have more than $1 billion in annual sales.
Lewis chose to donate to his most cherished causes.
In 1987, he created the Reginald Lewis Foundation which donated $10 million to various non-profit organizations. He also made an unsolicited gift of $1 million to Howard University, an institution he never attended. His 1992 gift of $3 million to Harvard University Law School was the largest single donation in its history. The gift created the Reginald Lewis Fund for International Study and Research and the Reginald F. Lewis International Law Center.
He had also expressed a desire to support a museum of African-American culture. In 2002, the Maryland State Legislature allocated $32 million dollars for a museum of Maryland African-American history and culture. The Foundation donated $5 million to the endeavor to support education programs and when the museum opened in June 2005, it was named the Reginald F. Lewis Museum of Maryland African American History and Culture.
Unfortunately, Lewis never saw his desire come to fruition. He died unexpectedly at the age of 50 of a cerebral hemorrhage related to cancer on January 19, 1993, in New York. He was interred at New Cathedral Cemetery in his hometown of Baltimore. His headstone includes his personal mantra, “Keep going, no matter what.”
Once called “the Jackie Robinson of deal making”, Lewis took issue with that description. He responded by saying:
“To carry around the notion that if I fail it’s going to mean that no other black person will ever have a similar opportunity, or that if I succeed, it’s going to open a floodgate of opportunity for other black Americans, misses the point.
If our work is perceived as an indication of how we can function in a global, competitive situation, that’s nice. But I’ve always believed that anyway.”
“Why Should White Guys Have All the Fun?”: How Reginald Lewis Created a Billion-Dollar Business Empire was published in 1994, based on Lewis’ unfinished autobiography and interviews from his family, friends, colleagues and employees.
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Concrete Loop features ‘CL History Spotlights’ each week honoring individuals who have played pivotal roles in history. submissions are welcome.
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Baltimore Stand up..lol I need to take a trip to the museum a.s.a.p.
i love these posts. great article, CL!!!
THANK YOU so much for focsing Mr. Lewis!!! I have been to his museum and will have to read his book..Thank you again!!
thanks for posting this!
the book looks like a good read…i’m going to have to check it out!
Im from Maryland and its nice to see that he got recognition on this site though people like me that live here know about him and he’s also featured in the Black Wax Museum in Baltimore which has plenty of others too but he definitely is an inspiration to African Americans because what he did was unprecedented for a African American back then so definitley makes me happy to see that he’s getting the spotlight on here…..
These stories are always such a breath of fresh air.
We’re not just actors, rappers, and ball players.
Good job.
RIP Mr. Lewis.
Angel — I see great things in YOUR future lady! You’re talking about a 90:1 roi for Dr. Lewis, what about a similar one for you?!? 80K unique’s a day! Someone’s going to buy you out, and we’ll all be here to cheer you along.
And when you start your next venture, You know, that where you go, we’re going to follow you – you’ve got fans for life! Keep working hard Angel (et al).
dg
@ 7….
I understand your supporting the owner of this website but J Dakar made this post and wrote this article…but I am sure Angel AND J Dakar will be thankful for your support
Haha @ “Why should white guys have all the fun”.
I’m so happy that you make Black History year round instead of just 1 month.
Thank you so much for doing a spotlight on Reginald. He is one of my biggest role models, and he reppin Bmore in a great way. Proves that even coming from a rough city like this you can accomplish anything in life. I love that museum on Pratt St. I also am glad you highlighted all his philanthropic pursuits. He was a very special man and definitely apart of black history, a great example that we can do anything if we put our minds to it and work hard, and also how we should be giving back. Keep up the good work CL!
BMORE all day everyday!!
I was born and raised in Baltimore but now I am in miami… but that Musuem is very very nice. If anyone visits Baltimore, they should make sure to visit it.
that museum and the great blacks in wax (if it is still open)
Bmore stand up!!! Ilove these posts. I learn something new or i get my memory refreshed.
I should realize by know that there is just a vast majority of influential african americans that I’ve never heard of before, but each time I read one of these posts I’m blown away. Thanks to both J.Dakar and CL for posting these “spotlights”, much respect.
Great read!!! I’m from Baltimore and I never knew his background. Good to learn his amazing accomplishments!
Very good article. I enjoy all the Black History Spotlights!
Thanks!
I’m so happy that you make Black History year round instead of just 1 month.
^^^^^^^^^^^^^^^^^
I agree YumYo!
Another inspiring B.H. Spotlight.. Thank you!!
***Great, Awesome, Outstanding article CL you go guys, I so enjoyed this. I am
***just surprised that he was so young when he passed I mean 50 yrs. old, that is
***young. You know I have a friend that was born on the same day Dec. 7, he is
***smart and very outgoing, he is an artist and want to take his art very far, he wants
***to design on computers though, sort of like an Engineer, I tell him keep on going
***and do not stop until you achieve what you set out to, he has the same kind of
***drive too, and now I have this article to share with him. I know he will enjoy it.
****These posts are really appreciated. The men and women that are featured on ****your spotlight blogs are the REAL celebs. Been to the museum in Baltimore. ***Just amazing. Fun and educational. Need to pick up the book…
Why did this brainy, magnificent Black man have to die so early. Why couldn’t it have been some ignorant, gun-toting thug jailbird instead. I love intelligent Black men but I hate thugs.
Geat Post!
—–The ‘Rockefeller Foundation” is a front for the Boule to hone the mindset of the
—–”talented tenth” of blacks, hispanics, and native americans (predominately
—–blacks) to cater to the construct of America and set up certain blacks as idols
—–for the masses of black people to esteem to. As soon as I saw “billion dollar
—–empire”, I knew what the deal was with this guy, lol.
Thanks Judah, I was thinking the same thing. You always come explicit and direct with your lyrics. As soon as I scrolled down and saw Rockefeller. I said, oh, no wonder. And I guess it’s a requirement that they get turned out before they get the serious money. Damn shame.
I remember doing a report on him my senior year of high school! (I am a Baltimore native). My cousin attends Reginald F. Lewis High School
He’s a great man!
NEVER HEARD OF THIS MAN BUT THANKS FOR THE INFO CL! IDK ABOUT THE BUSINESS SIDE, BUT I TOO WANT TO BE A PHILANTROPIST WHEN I GROW. I DON’T THINK IT IS ANYTHING MORE GRATIFYING THAN GIVING BACK!
It’s so inspirational to hear about positive black people that not only excelled at their craft but were also on the TOP of their game!!! This post really puts a stamp on the fact that I WILL be a prominent African American woman that will go down in history!! I just don’t know doing what…. YET!! lol…
Most excellet article.
American History should be all of our history not just Europeans conquering this country illegally, brutally and by any means necessary at the price of humanity to those of a different race and belief system (not Christian).
I LOVE IT! This is another IMPORTANT fact for my son. Thanks, CL.
Well, you know where that talented tenth mindset came from don’t you? From those W.E.B. Dubois NAACP Negroes. I have never understood their way of looking at things. They have always believed it was enough to pull up ten percent of us so that that segment should have the devine right to think and speak for us. If anything it should have been the talented 90%, pulling up the last ten.
We share the same b-day (not yr), I knew he was special.
wow…i will be a billionaire in the future…i’m glad that he gave me inspiration
——@THEY WERE ALWAYS WRONG
——To understand their way of thinking you’d have to be a negro that was set up to
——manipulate the people as Du Bois was. You’ll notice that if you go into the
——history of most of the so-called “great black leaders” of the late 19th to early 20th
——centuries, they were all indoctrinated and sent out by whites to propagate
——assimilation into white society. One thing about the white elite, they think in
——advance and they knew that after they let the slaves go, they couldn’t allow them
——to meander about America on their own accord because they would become
——autonomous. It has been the modus operandi of the white man from the time of
——the Greeks to set up puppet leaders of a certain race to rule over that race in lieu
——of an actual white leader so that the people will see a familiar face and won’t
——rebel. All they have to do is indoctrinate that puppet to their ways and keep him
——fed. This nonsense that we see with Obama is only an extension of that
——mentality (black face/white backing) and only white trash are angry that Obama
——is in power because they are not in the know.
Thank You Cl!!!! I really enjoy reading these articles!!!!
@27, I used to think that the talented tenth was a superior v. inferior concept and not a productive means to uplift our community but in actuality there are many in our community who do not aspire to be any more then who others believe they are, and for that reason I cannot believe it is my obligation to breathe the will or desire in them. It is not my job nor my responsibility. Do not get me wrong, I decided a long time ago that I would put in the work to assist those who want to become more then where they may have come from. I did it and now I am able to reap the rewards. When others laughed at me when I went to study instead of party they are now asking me how can they go back to school. It was called then and is still called now delayed gratification. Many of us do not understand that concept. I will help those who also desire to be more then their current station in life or circumstance but for those who have the “I was born here, I live here and I am going to die here” attitude, I cannot help you. If people in our community would learn to live as Martin, Malcolm, Fannie, Shirley, Coretta, Mary M. Bethume, Thurgood, and others wanted us to live we would have a talented 100 not 10. In actuality it seems more like 5%. In this country, in this day and age, its a choice to not succeed. Last time I check self determination did not have a “white only” sign on it anymore. We make excuses, but we need to place the blame on ourselves. Ask yourself this, what was the last gift you bought a child age 5-16, was it a book or a Xbox, or whatever game is out there. If it was a book, I take back my comment, if it wasn’t, my theories stand. Library books are free, yet many of our children do not have a card, but they have video games, tvs, cds and dvds. Yep blame it on the talented tenth, that makes sense.
Excellent post J! I heard about this book yesterday listening to the Michael Baisden show…gotta get now for sure! What an inspiring story…sorry to say, I just heard about him this week…amazing man!
I cannot abide the NAACP. They have never believed that Black people were capable of anything unless white people sanctioned it. lowed themselves to be handled and dictated to for the last 100 years because they always wanted integration , when the focused on financial independence. Bussing for example: it would have made sense to spend all those millions on improving community schools, paying higher wages to teachers, renovating crumbling schools and after school tutoring problems. But Naw, the NAACP just had to have our children sitting next to the white kids to apply themselves to excel. And Dubois and his ilk had the nerve to talk trash about Booker T.
Sorry, mad too many mistakes trying to type and clear the work load on my desk at the same time. Anyway, I hate the NAACP, Al Sharpton, Jesse Jackson and all the rest of them. They have never spoken for me that’s for sure.
This was inspiring, informative, and down right uplifting!!
i hope this inspires black men
so we can use our minds to contribute to the world
and not waste it in prison and gangs and drugs
I am so proud of you! please people keep the faith be INSPIRED and when you make it dont sell out but stay within your race and procreate to preserve our beautiful history and culture.
now this is inspirational stuff. thanks for posting.
#33 was that even necessary? I know ignorance is bliss, but come on seriously. But I do enjoy the spotlight on many of our heros who have made major moves not only for younger generations, but for everybody to learn and aspire from awesome accomplishments. Big ups to CL!!
great post. thanks!
THANK YOU SO MUCH for this post!!! It’s a shame more people don’t know his story.
*******Toot. Toot CL! Gone on head with your bad selves. Please keep the spotlights coming, I love learning new stuff or refreshing my memory about out history.
*****that’s our not out****
He is also a member of the prestigious organization: Kappa Alpha Psi Fraternity Incorporated.
This is one of the best history spotlights yet.
Thanks to J. Dakar for the post.
Big ups Bmore!!!
Thanks J Dakar this is a nice post.
im inspired
To read this write-up, which I know is one of many on this man, makes his accomplishments seem so care-free and with ease. Man, I wonder how long he had to study on the day to day basis or if he was a ‘natural talent’ at his career. In some way I admire people who have ‘made’ it in their personal spectrum, but in another I semi-despise them for making it look so easy. As the saying goes, “…if it were easy then everyone would do it…” Personally, I would like to see someone make the day to day intricate decisions they do to become ‘the top’. I wish people would highlight their struggle so that people reading, watching, listening etc would better know the paths of ‘making it’.
-if only.
very good article!
can we get some black history posts on black CANADIANS.
i enjoy the posts really i do, but id like to hear about black people who accomplished something OUTSIDE of america.
not to discredit any african american but it is BLACK history not AFRICAN AMERICAN history
just sayin my 2 cents. have a nice day folks
OH AND I HAVE EMAILED YOU STORIES J! like the one about Her Excellency the Right Honourable Michaëlle Jean, who is Canada’s first Black Governor General…
Thank you for going beyond the traditional names we hear during Black History Month. I’m from Baltimore, so I know about Mr. Lewis’ awesome accomplishments (RIP), but a lot of others may not have. Keep up the good work!
I do love these post…THANX!
I’m happy to say I met this guy before
I live in B-more and there’s a school named REGINALD F. LEWIS ,but I never knew the history behind it. Thanks CL !!!