Hidden Figures in Entrepreneurship: Black Women Who Built Legacies

Throughout history, Black women have navigated systemic barriers to build businesses, create jobs, and generate wealth. Yet, many of their contributions remain overlooked.

We spotlight some of these hidden figures—trailblazers who defied the odds and laid the foundation for future generations.

Annie Turnbo Malone (1869–1957) – The Beauty Mogul Before Madam C.J. Walker

One of the first Black women millionaires in the U.S., Annie Turnbo Malone revolutionized Black haircare. She developed and sold her own line of products, including the famous “Wonderful Hair Grower.”

Her deep understanding of chemistry and hair science allowed her to create products tailored specifically for Black women, addressing a market that had long been neglected by mainstream beauty brands. In 1918, she founded Poro College, a training institute and manufacturing company that employed thousands of Black women as sales agents across the country.

Poro College was more than just a business; it was a cultural and economic institution that provided Black women with financial independence through employment opportunities and business training. The college also served as a social hub, offering classes in etiquette, finance, and business ownership. Malone’s leadership and vision set the stage for the expansion of Black entrepreneurship, particularly in the beauty industry.

Despite facing legal battles and competition, she continued to expand her business empire and remained committed to philanthropy, donating significant portions of her wealth to Black educational institutions and community programs. Her business model influenced future beauty empires, including Madam C.J. Walker’s, and her legacy continues to inspire entrepreneurs today.

Bridget “Biddy” Mason (1818–1891) – From Enslavement to Real Estate Tycoon

Born into slavery, Biddy Mason secured her freedom in California and became a self-made real estate mogul in Los Angeles. She invested in property, accumulating significant wealth and using her resources to establish schools, housing, and aid for Black communities.

One of the first Black women to own land in California, Mason’s impact on Los Angeles’ development is significant. She defied legal restrictions placed on formerly enslaved individuals and fought for economic independence, purchasing land in what would become downtown Los Angeles.

Her investments grew in value, and she used her fortune to provide food and shelter for the poor, establish the First African Methodist Episcopal Church, and advocate for the rights of Black residents. Despite facing racism and gender barriers, Mason’s business acumen and philanthropy made her a cornerstone of early Los Angeles’ Black community.

Mary Ellen Pleasant (1814–1904) – The Investor Who Funded the Underground Railroad

Mary Ellen Pleasant was a businesswoman and abolitionist who amassed wealth through investments in real estate, mining, and restaurants in San Francisco.

Operating under white business partners’ names to navigate racial discrimination, she used her fortune to fund abolitionist efforts, including supporting the Underground Railroad and backing legal battles for Black rights.

She played a crucial role in financing the legal defense of enslaved individuals seeking freedom, using her wealth to hire top lawyers and advocate for civil rights. Beyond her investments, Pleasant was a silent yet powerful force in political activism, leveraging her influence to shape policies that benefited Black communities.

Despite facing opposition and racial prejudice, she continued to build her fortune and used her financial resources to support progressive causes. Her contributions helped lay the groundwork for economic empowerment among African Americans in California and beyond.

Esther Afua Ocloo (1919–2002) – Pioneer of Microfinance in Ghana

Esther Afua Ocloo started her first business with a small loan and turned it into a thriving food processing company in Ghana. Recognizing the barriers women faced in accessing capital, she became a champion of microfinance, co-founding Women’s World Banking. Her efforts empowered countless women to start their own businesses.

Ocloo’s entrepreneurial journey began in the 1940s when she secured a small loan to start producing and selling marmalade and other food products. She quickly expanded her business, eventually founding Nkulenu Industries, one of Ghana’s leading food processing companies. As she grew her business, Ocloo realized that many African women struggled to access financing, limiting their ability to achieve financial independence. This insight led her to become a pioneer in microfinance, advocating for small loans and financial training for women in developing nations.

Her commitment to women’s economic empowerment extended beyond finance. She worked tirelessly to educate and mentor women entrepreneurs, emphasising the importance of self-sufficiency and sustainable business practices. Through Women’s World Banking, she helped create financial networks that continue to support female entrepreneurs globally.

Ocloo’s legacy is one of resilience, innovation, and a commitment to using business as a tool for economic justice and social change.

Esther Afua Ocloo

Madam C.J. Walker (1867–1919) – The Self-Made Millionaire Who Built an Empire

Madam C.J. Walker’s story remains one of unparalleled entrepreneurial achievement. She developed a groundbreaking line of haircare products for Black women and created a direct-sales model that provided economic independence for thousands of Black women.

Walker’s journey to success was marked by determination and strategic business acumen. She started as a sales agent for Annie Turnbo Malone’s products before developing her own line of haircare solutions tailored to Black women’s needs.

She built a massive sales force of women who sold her products door-to-door, creating an economic network that provided financial independence for thousands of Black women across the U.S., the Caribbean, and beyond.

Beyond her business, Walker was a dedicated philanthropist, donating large sums to Black educational institutions, civic organizations, and anti-lynching campaigns. She also built a mansion, Villa Lewaro, as a symbol of Black wealth and success, inspiring future generations. Despite facing racial and gender discrimination, Walker broke barriers and laid the foundation for Black entrepreneurship in the beauty industry. Her influence continues to resonate, with her business strategies serving as a model for modern direct sales and network marketing enterprises

Lessons from These Incredible Women

The lives of these women teach us the importance of resilience, innovation, and community impact. Many of them faced systemic discrimination but persisted in building their businesses and legacies. They identified gaps in the market and created solutions that transformed industries. Beyond financial success, they uplifted others through job creation, philanthropy, and advocacy.These hidden figures in entrepreneurship teach us valuable lessons:

These women were more than just business owners—they were visionaries, strategists, and community builders who defied societal expectations. Their contributions continue to inspire generations of Black women and women of colour. They motivate us to pursue entrepreneurship, build wealth, and create opportunities in their communities.