Earl G. Graves
Encyclopedia
Earl Gilbert Graves, Sr. (born January 9, 1935) is an American
entrepreneur
, publisher, businessman, and philanthropist
. A graduate of Morgan State University
, he is the founder of Black Enterprise
magazine and chairman of the media company Earl G. Graves, Ltd. He is the current director for Aetna
and Executive Board member of the Boy Scouts of America
.He is the father of Earl G. Graves, Jr.
. A member of Omega Psi Phi
fraternity, he received a Bachelor of Arts
degree in economics in 1958 from Morgan State University
.
Having written a letter to the Democratic National Committee
, he became a volunteer for the 1964 presidential campaign of Lyndon B. Johnson
. His work with the party lead Graves the opportunity to serve as administrative assistant to newly elected Senator Robert F. Kennedy
in 1965. Following the assassination of the senator, Graves would land a seat on the advisory board of the Small Business Administration
in 1968.
While at Morgan State, Graves made a name for himself as an entrepreneur. Realizing that there was a big market for flowers during Homecoming Week, he went to two competing local florists and cut deals with both to sell flowers on campus. For a percentage of the profits, the florists provided the flowers while Graves covered the campus.
While serving on the SBA's advisory board, Graves' direct work with the agency would lead to his belief for the need of advisement for businesses in economic development and urban affairs convinced Graves to create an annual newsletter that would chronicle issues relevant to black business people and raise awareness of the importance of black consumer power. At the suggestion of then SBA Director Howard J. Samuels
, Graves would expand the concept of a newsletter into a full fledged magazine.
Graves started Earl G. Graves, Ltd., and under that holding company, he began the Earl G. Graves Associates management consulting firm. In August of 1970, the first issue of Black Enterprise
magazine would hit newsstands. Earl G. Graves, Ltd. would grow to include a number of divisions including publishing, marketing, radio, television and event coordinating arms. The firm is the co-owner of the private equity fund Black Enterprise Greenwich Street Corporate Growth Fund, a equity partnership formed with Travelers Group, Inc. The fund aims to invest and promote minority operated businesses.
From 1990 to 1998, Graves served as CEO to Pepsi Cola bottling franchise in Washington D.C. He has held other board and director memberships to a number of corporations including AMR Corporation, Daimler AG, Federated Department Stores
and Rohm and Haas
, as while as board member of the American Museum of Natural History
and Hayden Planetarium
in New York City. He is also a member of the Board of Trustees of Howard University
.
from the Boy Scouts of America
in 1988, and served as the national commissioner
from 1990 to 1995. He received the NAACP's Spingarn Medal
in 1999. In 2002, Graves was named as one of the 50 most powerful and influential African Americans in corporate America by Fortune
magazine.
Graves was appointed by the administration of George W. Bush
to serve on the Presidential Commission for the National Museum of African American History and Culture
. On April 26, 2007 Earl G. Graves Sr. was inducted into the Junior Achievement U.S. Business Hall of Fame. In 2009, Graves became the recipient of the 2009 NCAA Silver Anniversary Award.
Morgan State University's business school is named after him, Earl G. Graves School of Business and Management.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, publisher, businessman, and philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
. A graduate of Morgan State University
Morgan State University
Morgan State University, formerly Centenary Biblical Institute , Morgan College and Morgan State College , is a historically black college in Baltimore, Maryland, United States. Morgan is Maryland's designated public urban university and the largest HBCU in the state of Maryland...
, he is the founder of Black Enterprise
Black Enterprise
Black Enterprise is a monthly U.S. magazine which describes itself as "the premier business news and investment resource for African Americans" and claims a readership of 3.7 million. It was founded in 1970 by Earl G. Graves, Sr.. The publication is known for its annual listing of the largest...
magazine and chairman of the media company Earl G. Graves, Ltd. He is the current director for Aetna
Aetna
Aetna, Inc. is an American health insurance company, providing a range of traditional and consumer directed health care insurance products and related services, including medical, pharmaceutical, dental, behavioral health, group life, long-term care, and disability plans, and medical management...
and Executive Board member of the Boy Scouts of America
Boy Scouts of America
The Boy Scouts of America is one of the largest youth organizations in the United States, with over 4.5 million youth members in its age-related divisions...
.He is the father of Earl G. Graves, Jr.
Earl G. Graves, Jr.
Earl Gilbert "Butch" Graves, Jr. is an American businessman and retired basketball player. He is a Scarsdale High School graduate....
Background
Born in Brooklyn, New York, Graves grew up in the Bedford-Stuyvesant section of New York CityNew York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. A member of Omega Psi Phi
Omega Psi Phi
Omega Psi Phi is a fraternity and is the first African-American national fraternal organization to be founded at a historically black college. Omega Psi Phi was founded on November 17, 1911, at Howard University in Washington, D.C.. The founders were three Howard University juniors, Edgar Amos...
fraternity, he received a Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
degree in economics in 1958 from Morgan State University
Morgan State University
Morgan State University, formerly Centenary Biblical Institute , Morgan College and Morgan State College , is a historically black college in Baltimore, Maryland, United States. Morgan is Maryland's designated public urban university and the largest HBCU in the state of Maryland...
.
Having written a letter to the Democratic National Committee
Democratic National Committee
The Democratic National Committee is the principal organization governing the United States Democratic Party on a day to day basis. While it is responsible for overseeing the process of writing a platform every four years, the DNC's central focus is on campaign and political activity in support...
, he became a volunteer for the 1964 presidential campaign of Lyndon B. Johnson
Lyndon B. Johnson
Lyndon Baines Johnson , often referred to as LBJ, was the 36th President of the United States after his service as the 37th Vice President of the United States...
. His work with the party lead Graves the opportunity to serve as administrative assistant to newly elected Senator Robert F. Kennedy
Robert F. Kennedy
Robert Francis "Bobby" Kennedy , also referred to by his initials RFK, was an American politician, a Democratic senator from New York, and a noted civil rights activist. An icon of modern American liberalism and member of the Kennedy family, he was a younger brother of President John F...
in 1965. Following the assassination of the senator, Graves would land a seat on the advisory board of the Small Business Administration
Small Business Administration
The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses...
in 1968.
Business ventures
Undertook his first job at the age of seven selling boxed Christmas cards for his uncle. His territory was severely limited due to his father's rule that he could only sell to people living on their side of the block.While at Morgan State, Graves made a name for himself as an entrepreneur. Realizing that there was a big market for flowers during Homecoming Week, he went to two competing local florists and cut deals with both to sell flowers on campus. For a percentage of the profits, the florists provided the flowers while Graves covered the campus.
While serving on the SBA's advisory board, Graves' direct work with the agency would lead to his belief for the need of advisement for businesses in economic development and urban affairs convinced Graves to create an annual newsletter that would chronicle issues relevant to black business people and raise awareness of the importance of black consumer power. At the suggestion of then SBA Director Howard J. Samuels
Howard J. Samuels
Howard Joseph Samuels was an American statesman, industrialist, civil rights activist and philanthropist who served as U.S...
, Graves would expand the concept of a newsletter into a full fledged magazine.
Graves started Earl G. Graves, Ltd., and under that holding company, he began the Earl G. Graves Associates management consulting firm. In August of 1970, the first issue of Black Enterprise
Black Enterprise
Black Enterprise is a monthly U.S. magazine which describes itself as "the premier business news and investment resource for African Americans" and claims a readership of 3.7 million. It was founded in 1970 by Earl G. Graves, Sr.. The publication is known for its annual listing of the largest...
magazine would hit newsstands. Earl G. Graves, Ltd. would grow to include a number of divisions including publishing, marketing, radio, television and event coordinating arms. The firm is the co-owner of the private equity fund Black Enterprise Greenwich Street Corporate Growth Fund, a equity partnership formed with Travelers Group, Inc. The fund aims to invest and promote minority operated businesses.
From 1990 to 1998, Graves served as CEO to Pepsi Cola bottling franchise in Washington D.C. He has held other board and director memberships to a number of corporations including AMR Corporation, Daimler AG, Federated Department Stores
Federated Department Stores
Macy's, Inc. is a department store holding company and owner of Macy's and Bloomingdale's department stores. Macy's Inc.'s stores specialize mostly in retail clothing, jewelery, watches, dinnerware, and furniture....
and Rohm and Haas
Rohm and Haas
Rohm and Haas Company, a Philadelphia, Pennsylvania based company, manufactures miscellaneous materials. Formerly a Fortune 500 Company, Rohm and Haas employs more than 17,000 people in 27 countries, with its last sales revenue reported as an independent company at USD 8.9 billion. On July 10,...
, as while as board member of the American Museum of Natural History
American Museum of Natural History
The American Museum of Natural History , located on the Upper West Side of Manhattan in New York City, United States, is one of the largest and most celebrated museums in the world...
and Hayden Planetarium
Hayden Planetarium
The Hayden Planetarium is a public planetarium, part of the Rose Center for Earth and Space of the American Museum of Natural History in New York City, currently directed by astrophysicist Dr. Neil deGrasse Tyson....
in New York City. He is also a member of the Board of Trustees of Howard University
Howard University
Howard University is a federally chartered, non-profit, private, coeducational, nonsectarian, historically black university located in Washington, D.C., United States...
.
Other accomplishments
Graves received the Silver Buffalo AwardSilver Buffalo Award
The Silver Buffalo Award is the national-level distinguished service award of the Boy Scouts of America. It is presented for noteworthy and extraordinary service to youth on a national basis, either as part of, or independent of the Scouting program...
from the Boy Scouts of America
Boy Scouts of America
The Boy Scouts of America is one of the largest youth organizations in the United States, with over 4.5 million youth members in its age-related divisions...
in 1988, and served as the national commissioner
Commissioner Service
Commissioner Service is the group within the Boy Scouts of America that provides direct service to each Scouting unit . Commissioners are experienced Scouters who help chartered organizations and unit leaders to achieve the aims of Scouting by using the methods of Scouting...
from 1990 to 1995. He received the NAACP's Spingarn Medal
Spingarn Medal
The Spingarn Medal is awarded annually by the National Association for the Advancement of Colored People for outstanding achievement by an African American....
in 1999. In 2002, Graves was named as one of the 50 most powerful and influential African Americans in corporate America by Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
magazine.
Graves was appointed by the administration of George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
to serve on the Presidential Commission for the National Museum of African American History and Culture
National Museum of African American History and Culture
The National Museum of African American History and Culture is a Smithsonian Institution museum established in 2003. It will be built on the National Mall in Washington, D.C.. In 2006, the Smithsonian's Board of Regents selected a site near the grounds of the Washington Monument and the...
. On April 26, 2007 Earl G. Graves Sr. was inducted into the Junior Achievement U.S. Business Hall of Fame. In 2009, Graves became the recipient of the 2009 NCAA Silver Anniversary Award.
Morgan State University's business school is named after him, Earl G. Graves School of Business and Management.