Who was the first African American in Atlanta to have a million dollars?

One the best examples of such success was former slave Alonzo F. Herndon, founder of the Atlanta Life Insurance Company, located in the Sweet Auburn Historic District. Through this enterprise, Herndon became Atlanta’s first black millionaire.

Was Atlanta’s first black millionaire?

Investing his income into real estate, Herndon became the largest black property owner in Atlanta by 1900. Later, Herndon founded the Atlanta Life Insurance Company, located in the Sweet Auburn Historic District, and became Atlanta’s first black millionaire.

Who is Alonzo Atlanta?

Alonzo Franklin Herndon was an African American entrepreneur who founded and was the first president of Atlanta Life Insurance Company. In 1878, at the age of 20, Herndon left his family and moved to Jonesboro, Georgia where he opened his first barbershop. …

How much is Alonzo Herndon’s company worth?

According to our analysis, Wikipedia, Forbes & Business Insider, Alonzo Herndon net worth is approximately $1 Million – $3 Million. Before making his fortune in insurance, he established a successful barbershop and pursued a career in real estate investment.

How did Alonzo Herndon become Atlanta’s first black millionaire?

Then in 1905, he purchased a failing mutual aid association, which eventually became Atlanta Life Insurance Co. As Atlanta Life expanded into Florida, Kansas, Kentucky, Missouri, Tennessee and Texas, Herndon became Atlanta’s first black millionaire.

Who was the first African American to become a millionaire?

Born into slavery, he became one of the first African American millionaires in the United States, first achieving success by owning and operating three large barber shops in the city that served prominent white men.

Who are the richest people in Atlanta GA?

Arthur Blank Wealth $2.5 billion Arthur is the co-founder of Home Depot, the owner of the Atlanta Hawks basketball team, and well-known philanthropy in the Atlanta community. Arthur met his fellow co-founder Bernie Marcus at Handy Dan, a home improvement company. Their being fired created the drive and opportunity for them to create Home Depot.

Who was the first president of Atlanta Life Insurance Company?

Alonzo Franklin Herndon was an African American entrepreneur who founded and was the first president of Atlanta Life Insurance Company. Herndon was born on June 26, 1858 in Walton County, Georgia to Frank Herndon, a white farmer, and Sophenie, his slave.