Hopefully, Bob Johnson rings a bell. He was the original founder of BET before it was handed over to Viacom for an estimated $3 billion. It catapulted Johnson to become the first black billionaire. Then he screwed up his marriage doing dumb stuff, and a significant portion of his wealth went to his wife, Sheila Johnson.
Overlooking the personal problems, there’s no denying the brilliance of Bob Johnson on the business end. So, what has been his winning factor? According to his company website, it’s this:
The RLJ Companies seeks to target undiscovered or underserved markets; then exercise solid management to achieve results.
Basically, they discover opportunities in underserved markets and create services around it.
What all does RLJ Companies have their hands in?
Another mastery seen in Bob Johnson’s business acumen is the ability to diversify his business dealings in various fields. Let’s take a peek at what the company website reports:
• RLJ Development, a privately held hotel real estate investment company
• RLJ Lodging Fund II and RLJ Real Estate Fund III, both of which are private equity real estate funds; the three together have over $2 billion in combined assets and additional purchasing power of nearly $4 billion
• RolloverSystems, a financial services company providing retirement planning services based in Charlotte, North Carolina
• RLJ Equity Partners, a private equity fund that seeks expansion capital and buy out investment opportunities in six core industries
• Urban Trust Holdings, a company that holds Urban Trust Bank, a federal thrift institution with operations in Florida, Washington, D.C., and Maryland, and a nationwide credit card operation
• NBA Charlotte Bobcats and Charlotte Arena Operations
• Our Stories Films, a film production company based in Los Angeles
• Caribbean Gaming & Entertainment (CAGE), a video lottery gaming company based in Puerto Rico with operations in St. Kitts and Barbados
• RLJ-McLarty-Landers Automotive Group
Seems like his gems lie within real estate investment, real estate funds, financial services, private equity investments, banks and credit cards, film, NBA sports team, gaming, and the auto industry. Brilliant indeed.
Therefore, once you do attain large amounts of wealth, it’s time to invest it diversely into various arenas of profit, such as real estate, banks, entertainment, and financial services.
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