Black History Month has often been a celebration of well-known African-American men, but many women were no less accomplished in breaking historic barriers, including in the economic arena.
Many people know about Madame C.J. Walker, born Sarah Breedlove, who founded her own hair care company and was the first female African-American millionaire in our nation. Most don't know about Maggie Lena Walker, the first woman to charter a bank in the USA. She founded the St. Luke Penny Savings Bank in 1903. In 1929, the bank was merged with two other African-American-owned banks in Richmond, Va., and Walker stayed on as chairman of the board.
Many people know about Madame C.J. Walker, born Sarah Breedlove, who founded her own hair care company and was the first female African-American millionaire in our nation. Most don't know about Maggie Lena Walker, the first woman to charter a bank in the USA. She founded the St. Luke Penny Savings Bank in 1903. In 1929, the bank was merged with two other African-American-owned banks in Richmond, Va., and Walker stayed on as chairman of the board.
When people think about African Americans and the economy, we rarely think of black economic history, of those African Americans who, despite a tilted playing field, managed to both survive and thrive. Others included Sadie Tanner Mosell Alexander, the first black woman to get a Ph.D. in economics, and Mary Ellen Pleasant, a San Francisco millionaire, and many more.
The point is not to regale riches but to remind Americans that though the economic game has been rigged, it is a game African Americans have played and won despite the barriers.
