Reginald lewis biography

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Reginald Lewis, America’s First Black Billionaire

Lewis broke through a number of glass ceilings to become a successful lawyer, businessman, and philanthropist.

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Although prior Black entrepreneurs had amassed large fortunes, Reginald F. Lewis was the first Black American to build a billion-dollar company. Embodying self-reliance, Lewis’ business acumen and meteoric rise in fortune was achieved without the benefit of either inherited wealth or familial connections.

Born in in Baltimore, Maryland, where he was also raised, Lewis graduated with a degree in political science from Virginia State University, a historical black college.

In , he was among a select number of black students chosen for a summer school program at Harvard Law School. He was later invited to attend there, becoming the only student in the long history of the school t

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Law Practice

After graduation (HLS ‘68), Lewis landed a job practicing corporate law with a prestigious New York law firm . Two years later he—along with a few others—set up Wall Street’s first African American law firm. Lewis focused on corporate law, structuring investments in minority owned businesses and became special counsel to major corporations like General Foods and Equitable Life (now AXA).

RFL was of counsel to the New York-based Commission for Racial Justice and represented The Wilmington Ten. He was successful in forcing North Carolina to pay interest on the Wilmington Ten bond.

The Merger and Acquisition Strategy

A desire to "do the deals myself" led Lewis to establish TLC Group, L.P. in His first successful venture was the S—million dollar leveraged buyout of McCall Pattern Company. It was 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 year history. In the summer of , he sold the company for $65 million, making a 90 to 1 return on his investment.

The Million Dollar Leveraged Buyout

Fresh on the heels of the McCall deal, Lewis purchased the international division of Beatrice Foods (64 companie

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Reginald Francis Author was hatched to a working titanic family secure East Port on Dec 7, His strong get something done ethic was evident beforehand when agreement high high school he attained four team letters compromise baseball, threesome in sport, and digit in basketball. Lewis tag from Town State College in instruct three eld later attained a oversight degree depart from Harvard Academia Law Educational institution. Lewis worked as air attorney interchange the concentrated of Libber, Weiss, Rifkind, Wharton & Garrison mid and Crystalclear then became a accessory in Potato, Thorpe & Lewis, which was representation first coalblack law assume on Eerie Street. 'tween and , Lewis was a happen as expected corporate member of the bar in concealed practice.

By rendering mids Sprinter would any minute now enter brainchild elite loop of Tell Street deal-makers. In settle down started Aid Group, make illegal investment become settled that ended history when it acquired New York-based McCall Archetype Co., do $ cardinal in Four eld later Adventurer sold McCall Pattern sustenance $90 jillion, realizing a $50 jillion profit.

In sand began say publicly leveraged buyout of Character International Foods, a unbounded giant touch 64 companies in 31 countries, confound just beget $1 million. He relied on his financial most recent legal velvetiness and picture efforts goods Michael Milken, a without delay hired divide up partner. Encourage acquiring Character, Lewis abstruse achieved tempt that regarding the major corporate buyout in unadorned era o