George E. Johnson Sr., the pioneering entrepreneur who transformed the Black hair care industry and founded the first Black-owned company to trade on the American Stock Exchange, died Monday at his home in downtown Chicago. He was 99. His family confirmed the death, noting his profound influence on business and civil rights.
From Humble Beginnings to a Multimillion-Dollar Empire
Born in 1927 in Richton, Mississippi, George E. Johnson Sr. moved to Chicago with his mother, Priscilla. These early years instilled in him a work ethic that would define his later career.
As a teenager, Johnson dropped out of high school to work for Fuller Products, a Black-owned cosmetics firm. It was there, under the mentorship of founder S.B. Fuller, that Johnson learned the business of chemistry and production. When his employer declined to pursue a hair-straightening formula developed by a local barber, Johnson saw an opening. In 1954, he and his first wife, Joan, launched Johnson Products Company on Chicago’s South Side with a $250 loan.
Securing that initial capital was a feat of strategic maneuvering. As the Chicago Sun-Times detailed, Johnson was rejected for a business loan at the first bank he approached. He returned to a different branch of the same bank and told the loan officer he needed the funds for a family vacation to California.
I knew this request wouldn’t rattle his belief that he was superior to me. Nor would it challenge his stereotypes of Black men as subservient or unintelligent. Thirty minutes later, I walked out with a check in my hand. — George E. Johnson Sr., in his 2025 memoir, “Afro Sheen: How I Revolutionized an Industry with the Golden Rule, from ‘Soul Train’ to Wall Street.”
Revolutionizing Black Hair Care and Marketing
Johnson Products Company grew rapidly, filling a void in a market largely ignored by major national brands. The company’s portfolio—which included Ultra Sheen, Afro Sheen, and Classy Curl—became fixtures in Black households. By 1971, the company achieved a historic milestone, becoming the first Black-owned business to be listed and traded on the American Stock Exchange, as reported by CNBC.
Beyond the products themselves, Johnson pioneered marketing techniques tailored specifically to the Black experience. He was a primary driver behind the success of “Soul Train,” serving as the program’s first national sponsor. This partnership helped the local dance show reach a national audience, cementing the brand’s place in American culture.
The company’s evolution mirrored the changing social landscape of the era. While early products focused on straightening, the company adapted to the “Black is Beautiful” movement by introducing Afro Sheen, which catered to natural textures.
Legacy of Philanthropy and Business Leadership
Johnson’s influence extended well beyond the cosmetics industry. He founded Independence Bank to improve access to capital for minority entrepreneurs and served as the first African American director on the board of Commonwealth Edison. His commitment to education was equally significant; the George E. Johnson Educational Fund awarded more than 1,000 college scholarships.
The family statement, shared by AOL, emphasized that Johnson viewed entrepreneurship as a tool for social progress rather than mere profit. “George was a visionary business leader who built a haircare empire, broke barriers on Wall Street, and helped fuel the fight for civil rights,” the statement read.
Johnson is survived by his second wife, Madeline Murphy Rabb.
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