Home » African-American mogul Sheila Johnson’s net worth increases by $30 million

African-American mogul Sheila Johnson’s net worth increases by $30 million

by Yusuf Abdulfatai
Sheila Johnson

Sheila Johnson, an African-American businesswoman who made her fortune from the sale of the cable TV channel, Black Entertainment Network (BET), has seen her net worth rise by more than $30 million since the start of the year.

The year-to-date increase in Johnson’s net worth comes as she reveals plans to double down on her interest in the hospitality industry with the addition of three new properties this year under Salamander Hotels & Resorts, her luxury hospitality management company.

According to data tracked by U.S. business magazine Forbes, the African-American businesswoman’s net worth has increased by more than $30 million this year, rising from $750 million at the start of the year to $780 million at the time of writing.

The multimillion-dollar increase in wealth figures can be attributed to the strong valuation that her hospitality management company, Salamander, received this year as it continues to capitalize on a gap in the hospitality industry by providing accessible, non-traditional luxury without sacrificing comfort.

In line with Salamander’s strategic expansion plans, the hospitality firm led by Johnson is rapidly expanding, adding three properties in 2022, bringing its portfolio to seven properties spread across Washington, D.C., South Carolina, Florida, Colorado, Virginia, Jamaica, and Anguilla.

Johnson, who cofounded the cable TV channel Black Entertainment Network in 1979 and sold it to Viacom for $3 billion in 2001, began her hospitality journey in 2002 with the purchase of a 340-acre horse farm in Virginia.

With subsequent investments, her hospitality business quickly evolved into the Salamander brand, which boasts a five-star property with 168 guest rooms and suites, a 23,000-square-foot spa, and 25 acres for equestrian activities.

In September, Salamander partnered with Henderson Park, a private equity real estate manager based in London, to manage a 373-room property formerly known as the Mandarin Oriental Washington D.C, the property has since been rebranded as Salamander DC.

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