SERENITY SUNDAY AT THE YNOT TIMES

REGINALD F. LEWIS 1942 - 1993"The Wealthiest Black Man in History"
Toni Townsend Moody
Reginald F. Lewis was an African American born to a working class family on December 7, 1942, in East Baltimore. He was born during a time when no one had heard of Martin Luther King, Jr., or civil rights, or integration. Blacks at that time could not try on clothes or shop at many downtown stores. they couldn't eat in certain restaurants or go to certain movie theaters. From his youth Lewis was known for his drive and desire for excellence. The strong work ethic from his mother and grandfather coupled with his life-long hunger for wealth and personal glory fueled his success on the playing field, in the classroom, and in the boardroom. In High School he earned four varsity letters in baseball, three in football where he was the starting quarterback and two varsity letters in basketball. He attended Harvard Law School and became a successful corporate lawyer before remaking himself into a financier and buyer of corporations.
He ultimately moved into the elite circle of wall Street deal-makers. Lewis grew up to become the wealthiest black man in history and one of the most successful entrepreneurs of all time, reigning over a commercial empire that spanned four continents. From a blue collar youth on the streets of East Baltimore he propelled himself to the Harvard Club on 44th street. He was known as an iron-willed negotiator and brilliant business strategist in action as he finessed one phenomenal deal after another.
Lewis wasn't the very approachable but through expertise or influence or both he commanded respect. He was a proud fiercely determined man with a razor-sharp tongue--and an intellect to match. He bought the McCall Pattern Co. for $22.5 million , guided it to record earnings and later sold it for $65 million, fetching a 90-1 return on his investment.
While this can certainly be considered a great accomplishment his piece de resistance was the winning the right to buy Beatrice International Foods, a global giant with 64 companies in 31 countries, for just under $1 Billion. Lewis outbid several multinational companies, including Citicorp, who had squads of accountants, lawyers, and financial advisers.
He relied on moxie, financial and legal savvy and the efforts of a two-man team consisting o himself and a recently hired business partner. With this fete he had achieved of the more spectacular corporate buyouts in an era of such mega-deals. With single-mindedness of purpose Lewis fought the odds and won. He succumbed to brain cancer in January 1993 at the relatively young age of 50. His net worth was estimated by Forbes at $400 million, putting him on the Magazines 400 list of wealthiest Americans. In the last five years of his life, Lewis gave away more money than most people dream of earning in several lifetimes and he generally did so without fanfare.
References
"Why Should White Guys have All the Fun?" Lewis and Walker 1995 Business Week
Black Enterprise Magazine
Jet Magazine
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