George E. Johnson, a leader in the hair-care industry, passed away on Monday at his home in Chicago. He was 99 years old. His wife, Madeline Murphy Rabb, confirmed that the cause of death was a respiratory illness.
Johnson’s journey to success began in a sharecropper’s cabin and led to the creation of the Johnson Products Company. It was noted as being among the first Black-owned companies listed on a major American stock exchange. Products such as Ultra Sheen and Afro Sheen contributed to his wealth and recognition, marking him as one of the nation’s wealthiest African Americans.
The impact of Johnson Products Company extended into popular culture through its sponsorship of the television dance show “Soul Train.” This involvement connected the brand with a broader audience and influenced cultural trends at the time.
Beyond his accomplishments in the hair-care industry, George E. Johnson played a significant role in the financial sector. He helped establish the Independence Bank of Chicago, one of the first major Black-owned banks. He served as its chairman until the bank was sold in 1995.
George E. Johnson’s life illustrates a story of perseverance and success, with his contributions leaving a lasting imprint on both the business world and cultural history.
Robert D. Hershey Jr., who reported for The Times on finance and economics, passed away in 2024.
Ash Wu contributed additional reporting.
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