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    The TRAGIC Family Behind Johnson Products' $500 Million Black Beauty Empire. Born in a three-room sharecropper's shack in Mississippi and dropping out of high school to survive, George Ellis Johnson faced poverty so severe he had to lie to a bank to secure a $500 loan. Yet, from that simple lie, George and his wife Joan built Johnson Products—the first Black-owned firm traded on the American Stock Exchange, peaking at a massive $500 million valuation. Discover the incredible rise, the groundbreaking products, and the tragic family civil war that tore Johnson Products apart: - The $500 Vacation Lie: Desperate for capital to launch a new hair relaxer, George walked into a Chicago bank and requested a $250 business loan, which was flatly denied. Days later, he walked into a different branch and asked for $250 for a "family vacation to California"—the loan was approved. - Ultra Sheen & Afro Sheen: The company exploded after Joan rebranded their product to "Ultra Sheen," a hair straightener marketed directly to women for safe, at-home use. As the Black Power movement embraced natural hair, Johnson launched "Afro Sheen," backing it with groundbreaking advertising that portrayed Black men and women as professionals. - The First on Wall Street: Listed on the American Stock Exchange in 1971, Johnson Products became the first Black-owned company in history to trade on a major exchange. At its peak, the company controlled nearly 80 percent of the Black hair care market. - The Family Civil War: Following George and Joan's divorce in 1989, Joan took majority control of the company. Their son Eric successfully steered the business back to profitability as CEO, but an intense power struggle erupted when his younger sister Joan M. Johnson joined the firm demanding more authority. Their mother sided with her daughter, forcing Eric to resign. - The Controversial Sale: In 1993, Joan B. Johnson controversially sold the company to Ivax Corporation—a firm with no Black ownership—for $67 million, marking a tragic end to nearly forty years of family control and Black ownership. Subscribe to The Black Wealth Explainer for more cinematic deep dives into the secret empires, tragic collapses, and inspiring journeys of Black history's most prominent figures! #JohnsonProducts #BlackHairCare #TheBlackWealthExplainer #GeorgeEllisJohnson #BusinessDocumentary #GenerationalWealth
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