Only 4 Black-owned companies made more than $1 billion last year — And no, not Oprah or Jay-Z

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Black Enterprise magazine has released their 2014 annual list of the top 100 Black businesses in the country. Based on statistics from 2013, the top companies represent the best of the best in enterprise and innovation in various industries including industrial/service, auto, advertising, and financial services.

Of all the companies on the list, only 4 of them generated more than $1 billion in annual revenue. And contrary to popular belief, none of those companies are owned by Oprah or Jay-Z.

But 34 of the top Black businesses, including the 4 billionaire companies, generated annual revenues of more than $100 million.

Here’s a list of the top 10 largest Black businesses:

david-l-steward

David L. Steward

#1 World Wide Technology Inc.
Maryland Heights, MO
CEO: David L. Steward
Employees: 2,517
Industry: IT products/services
Annual Revenue: $6.4 billion

#2 ACT-1 Group
Torrance, CA
CEO: Janice Bryant Howroyd
Employees: 2,307
Industry: Staffing services
Annual Revenue: $2.25 billion

#3 Bridgewater Interiors L.L.C.
Detroit, MI
CEO: Ronald E. Hall Sr.
Employees: 1,500
Industry: Automotive parts supplier
Annual Revenue: $1.5 billion

#4 Modular Assembly Innovations L.L.C.
Dublin, OH
CEO: Billy R. Vickers
Employees: 250
Industry: Auto parts manufacturing and assembly
Annual Revenue: $1.1 billion

#5 Manna Inc.
Louisville, KY
CEO: Ulysses Bridgeman Jr.
Employees: 14,000
Industry: Quick service restaurants
Annual Revenue: $630 million

#6 The Anderson-DuBose Cos.
Lordstown, OH
CEO: Warren E. Anderson
Employees: 437
Industry: Food and paper products distribution
Annual Revenue: $545 million

pickard

William F. Pickard

#7 Global Automotive Alliance L.L.C.
Detroit, MI
CEO: William F. Pickard
Employees: 1,410
Industry: Automotive parts supplier
Annual Revenue: $520 million

#8 Thompson Hospitality
Reston, VA
CEO: Warren M. Thompson
Employees: 4,250
Industry: Food and facilities management services, quick service restaurants
Annual Revenue: $485 million

#9 Radio One Inc.
Silver Spring, MD
CEO: Alfred C. Liggins III
Employees: 1,072
Industry: Radio broadcasting
Annual Revenue: $448 million

#10 SET Enterprises Inc.
Warren, MI
CEO: Sid E. Taylor
Employees: 400
Industry: Metal processing
Annual Revenue: $390 million

Plus, here are 6 major highlights that you may not have known about:

* Black-owned auto dealers collectively grossed $8 billion versus $7.2 billion from last year – an impressive $11.4% hike.

* Black-owned advertising agencies collectively posted a solid 7.2% revenue bump, from $287.5 million to $308.2 million.

* Black-owned banks collectively produced a 2% dip in assets — $5.5 billion to $5.4 billion — and a 12.4% plunge in capital — $474 million to $415 million.

* Black-owned investment companies plummeted 32.1% in taxable securities transactions, from $821 billion to $558 billion, while tax-exempt securities deals fell 25%, from $235 billion to $177 billion.

* Black-owned asset managers’ collective growth in assets under management went from $118 billion in 2012 to $118.4 billion.

* The number of Black-owned private equity firms has increased to 15, with the addition of RLJ Credit Management, LLC (owned by Bob Johnson, founder of BET).

For more details and/or to view the full list of the top 100 Black businesses, visit http://www.blackenterprise.com/lists/be-100s-2014/

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