The Billionairess, the Judge and the Fortune

Sheila Crump Johnson is America's first Black female billionaire. She is the former wife of Robert L. Johnson, with whom she co-founded Black Entertainment Television. When they sold the business in 2000, it netted them nearly $3 billion. Two years later, they were in court working out the terms of their divorce. The presiding judge was William Newman, Jr., a friend of Mrs. Johnson's from 30 years earlier. He made the decision to split the $3B fortune down the middle, and then three years later, made the decision to marry the former Mrs. Johnson. Now, every story you read will tell you that Mr. and Mrs. Johnson "co-founded" BET, but let's look a little into the Johnson's history.

Robert L. Johnson graduated from Princeton with a master's degree in international affairs. He had earned his B.A. in political science from the University of Illinois. Naturally, he went to DC to find work. This was in the '70s, during the expansion of cable television. He found work as a lobbyist for the National Cable & Telecommunications Association, and after a few years, decided to take out a loan and start his own channel. He had recognized an empty niche and sought to fill it. It only took five years for BET to become profitable. Around 15 years later, BET became the first Black owned and operated company to be traded on the New York Stock Exchange. Johnson made the decision to buy it back in 1998 before selling it to Viacom in 2000. He remains the CEO, and BET remains profitable.

Sheila Crump Johnson graduated from the University of Illinois with a degree in music. She plays the violin.

Co-founders. Riiiiight.

It's not who you are, it's who you knew in college 30 years ago.