TheReallyRich.com

Bob Johnson
Founder of BET
Black Entertianment Televison

Net Worth 1.3 Billion

Bob Johnson, the Black Entertainment Television founder with a personal net worth of $1.3 billion, is a powerful man.  He has used his high profile status as one-half of all African American billionaires (the determinedly non-partisan Oprah Winfrey is the other half) to advance the most politically perilous item on the GOP agenda: privatization of Social Security.

Robert Johnson was born in Hickory, Mississippi in 1946. He was the ninth of ten children born to Archie and Edna Johnson. Searching for a better life, the Johnson's moved to Freeport, Illinois. Robert attended the University of Illinois where he met his wife Sheila Crump. He graduated from the university in 1968 and then earned a Master’s degree in public administration from Princeton University. Robert then moved to Washington D.C. where he launched his career in television.
 

How the Business Started: Since Johnson’s Princeton days, he knew the power of television could help promote black businesses and culture. With his interest in broadcasting growing, Johnson landed a job as a lobbyist for the National Cable Television Association (NCTA). In 1978, he began developing his innovative plan to produce television programs targeted to black viewers. To help launch this effort, Tom Wheeler, president of the NCTA, gave Johnson $15,000 as an initial investment. Johnson later convinced John Malone, the president of Tele-Communications, Inc., to invest $500,000 in the project. In what proved to be a fortunate break, Johnson met with Bob Rosencrans, the president of UA-Columbia Cablevision, at an NCTA annual convention. Eager to help make Johnson’s dream a reality, Rosencrans said he owned slots on a cable TV satellite that Johnson could use for his new channel. With all of the parts in place to begin, Johnson named his nascent business venture, Black Entertainment Television (BET). At 11 p.m., on January 8, 1980, BET officially aired its maiden program and eventually became the first and largest black-owned broadcasting company on cable television.

Click here to marry rich
  in 2008 .

Cool Links     Marry Rich In 2008
copyright 2008 Internet Media & Entertainment Inc.