When discussing black wealth in America, names like Oprah, Jay-Z, and LeBron often come to mind.

However, long before their rise to fame and fortune, a hidden class of black elites had already established their empires.

In an era of brutal oppression, these pioneers created generational wealth through real estate, finance, and industry, laying the groundwork for a lasting black legacy in America.

These are not mere rags-to-riches stories; they are dynasties forged in fire.

Prepare to uncover the untold history of America’s original black elite, beginning with James Forton, a man born a free citizen in Philadelphia in 1766.

Forton became a titan of industry and patriarch of one of the first and most powerful black families in America.

His story transcends wealth; it embodies patriotism, innovation, and a deep commitment to the abolitionist cause that would define his family’s mission for generations.

### James Forton: A Legacy of Wealth and Activism

Growing up during the American Revolution, Forton joined the fight for independence at just 14 years old.

He served on the warship Royal Louie but was captured by the British and held on a brutal prison ship.

Even as a teenager, his character was unbreakable, as he turned down an offer for a comfortable life in England to remain loyal to the United States.

Upon his release, Forton returned to Philadelphia and began an apprenticeship in shipbuilding, where he quickly demonstrated his genius.

Dissatisfied with outdated methods, he invented a new type of sail that provided ships with greater speed and control.

This innovation became his key to fortune.

When his boss retired in 1798, Forton purchased the business and transformed it into one of Philadelphia’s most successful enterprises.

At a time when segregation was rampant, Forton’s workshop was unique; he employed an integrated workforce of both black and white craftsmen.

By the early 1800s, Forton had amassed a fortune estimated at around $100,000, a staggering sum equivalent to millions today.

### Forton’s Commitment to Abolition

Forton’s legacy extends beyond financial success; he used his wealth as a weapon in the fight for freedom.

He generously funded the abolitionist movement, supporting newspapers and anti-slavery organizations.

The famous American Anti-Slavery Society was even organized in his home, which became a crucial stop on the Underground Railroad, providing refuge for those escaping the South.

James and his wife, Charlotte, instilled a strong sense of activism in their children, raising them as soldiers in the war for equality.

His sons took over the family business and continued their father’s legacy of activism, while his daughters married into another prominent abolitionist family, creating a multi-generational dynasty of social justice advocates.

### Robert Reed Church: The First Black Millionaire of the South

Moving from the abolitionist North to the post-Reconstruction South, we find Robert Reed Church, born into slavery in 1839.

Church’s journey to becoming the South’s first black millionaire is a tale of resilience.

After gaining his freedom during the Civil War, he moved to Memphis in 1865 and began building his life, starting with small businesses like a saloon and restaurant.

However, Church became a target during the horrific Memphis riot of 1866, where a white mob attacked his establishment, leaving him for dead.

Yet, in an incredible act of defiance, he refused to leave Memphis, vowing to build his empire in the city that had tried to destroy him.

His big break came during the yellow fever epidemics of the 1870s.

While others fled in terror, Church seized the opportunity to buy up land at rock-bottom prices.

When the plague ended and people returned, Church owned a significant portion of a revitalized Memphis, establishing a fortune estimated at over a million dollars by the early 1900s.

### Creating Community and Empowerment

Church understood that money equaled power, and he used his wealth to uplift his community.

With black citizens banned from public parks, he built one himself, creating a cultural and political sanctuary that hosted notable figures, including President Teddy Roosevelt.

In 1906, he founded the Solvent Savings Bank and Trust Company, the first black-owned bank in Memphis, revolutionizing access to loans for black families and business owners.

The Church family’s legacy continued through generations, with his daughter, Mary Church Terrell, becoming a national icon and co-founder of the NAACP.

Jeremiah G. Hamilton: Wall Street’s First Black Millionaire

As we shift to Wall Street in the mid-19th century, we find Jeremiah G. Hamilton, the first black millionaire in the financial district.

Hamilton’s origins are shrouded in mystery, but he first appeared in historical records after running a counterfeit coin scheme in Haiti.

Upon his return to New York, he entered the chaotic world of finance, where he thrived amidst wild speculation and corporate warfare.

A master speculator, Hamilton built his fortune through insurance scams and lawsuits, often buying stock from companies devastated by disasters and suing for full payouts.

His aggressive tactics made him a direct rival to Cornelius Vanderbilt, the era’s most powerful tycoon.

Hamilton’s legacy is one of financial conquest, proving that a black man could dominate the predatory arena of American business.

### Elizabeth Gloucester: A Real Estate Mogul

Across the river in Brooklyn, Elizabeth Gloucester emerged as one of the wealthiest black women in America by the time of her death in 1883.

Born a free woman in Virginia, she moved to New York with her husband and found her true calling in real estate.

Gloucester managed a portfolio of boarding houses, catering primarily to a white clientele, showcasing her business acumen.

Her estate was valued between $200,000 and $500,000 at her death, a significant fortune that supported the abolitionist cause.

She provided financial backing to key figures in the anti-slavery movement, including John Brown, and established the Colored Orphans Asylum in Brooklyn.

### The Legacy of Black Wealth

As we explore the stories of these remarkable families, we see that their legacies extend beyond their fortunes.

They built institutions that empowered their communities and fought for justice.

From James Forton’s abolitionist efforts to Robert Reed Church’s community-building initiatives, these pioneers laid the foundation for future generations.

While many of their fortunes have faded, their contributions to society remain invaluable.

The spirit of these families lives on in modern black business titans who continue to build wealth and uplift their communities.

The stories of America’s original black elite are crucial chapters in our history, revealing the resilience and genius of those who overcame tremendous obstacles to achieve greatness.

Their legacies remind us that black wealth is not merely a modern phenomenon but a rich tapestry woven into the fabric of American history.

As we uncover these hidden histories, we honor the pioneers who paved the way for future generations and continue to inspire the ongoing struggle for equality and justice.