
World’s first Black billionaire Robert L. Johnson’s REIT hits $1.3 billion in revenue
RLJ Lodging Trust’s revenue hit $1.37 billion in 2024, but net income dropped 11.2% due to rising costs, despite strategic acquisitions and capital allocation.
RLJ Lodging Trust’s revenue hit $1.37 billion in 2024, but net income dropped 11.2% due to rising costs, despite strategic acquisitions and capital allocation.
Using the proceeds from the sale of BET, he has invested in new ventures, leveraging his expertise to construct a varied portfolio of companies through The RLJ Companies.
In 2001, Johnson made history by selling BET to Viacom for an astonishing $3 billion, making him the first Black billionaire.
In 2001, Johnson made history by selling BET to Viacom for an astonishing $3 billion, becoming the world’s first Black billionaire.
As the founder and former chairman of BET, Johnson built America’s first Black-owned cable television network.