Legacy of George E. Johnson: A Pioneer in Black Business

George E. Johnson, a notable figure in the hair-care industry, passed away on Monday at his Chicago residence. He was 99 years old. His wife, Madeline Murphy Rabb, confirmed his death, citing respiratory illness as the cause.

Johnson’s journey from modest beginnings in a sharecropper’s cabin to leading a successful enterprise stands as a testament to his entrepreneurial spirit. He established the Johnson Products Company, recognized as the first Black-owned firm on a major American stock exchange. Through products like Ultra Sheen and Afro Sheen, he amassed significant wealth and became one of the wealthiest African Americans in the country.

During a period before substantial earnings in sports and entertainment became commonplace, Johnson Products not only excelled financially but also impacted American culture. The company’s sponsorship of the famous dance show “Soul Train” played a crucial role in its success.

Additionally, George E. Johnson was instrumental in founding the Independence Bank of Chicago, one of the nation’s largest Black-owned banks. He served as chairman until the bank’s sale in 1995.

George E. Johnson’s contributions extend beyond business, leaving an indelible mark on both commerce and culture.

Robert D. Hershey Jr., who extensively covered finance for The Times, passed away in 2024. Ash Wu provided additional reporting for this article.