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Reginald F. Lewis
Reginald F. Lewis Reginald F. Lewis


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Reginald F Lewis (December 7, 1942 – January 19, 1993), was an American businessman, who was one of the most successful business leaders during the 1980s He was the richest African American man in the 1980s Born in Baltimore, Maryland, he grew up in a middle class neighborhood He won a football scholarship to Virginia State College (now Virginia State University), graduating with a degree in economics in 1965 He graduated from Harvard Law School in 1968 He was also a member of Kappa Alpha Psi In 1992, Forbes magazine listed Lewis among the 400 richest Americans with a net worth estimated at $400 million He also was the first African American to build a billion dollar company He died at age 50, from brain cancer.

Recruited to top New York law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP immediately after law school, Lewis left to start his own firm two years later After 15 years as a corporate lawyer with his own practice, Lewis moved to the other side of the table by creating TLC Group LP, a venture capital firm, in 1983 His first major deal was the purchase of the McCall Pattern Company, a home sewing pattern business for $225 million Lewis learned from a Fortune magazine article that one of the Norton Simon companies that Esmark planned to divest was McCall Pattern Company, a maker of home sewing patterns founded in 1870 With fewer and fewer people sewing at home, McCall was seemingly on the decline—though it had posted profits of $6 million in 1983 on sales of $519 million At the time, McCall was number two in its industry, holding 29.

7 percent of the market, compared to industry leader Simplicity Patterns with 394 percent He managed to negotiate the price down and then raised $1 million dollars himself from family and friends and borrowed the rest from institutional investors and investment banking firm First Boston Corp Within one year, he turned the company around by freeing up capital tied in fixed assets such as building and machinery, finding a new use for machinery during downtime by manufacturing greeting cards, and he then started to recruit managers from rival companies He further strengthened McCall by containing costs, improving quality, beginning to export to China, and emphasizing new product introductions This new combination led to the company's most profitable year in its history With the addition of McCall real estate worth an estimated $6 million that they retained ownership of, he later sold the company at a tremendous profit for investors a 90-1 return Lewis's share was 817 percent of the $90 million In 1987 Lewis bought Beatrice International Foods from Beatrice Companies for $985 million, renaming it TLC Beatrice International, a snack food, beverage, and grocery store conglomerate that was the largest African-American owned and managed business in the U.

S The deal was partly financed through Mike Milken of the maverick investment bank Drexel Burnham Lambert In order to reduce the amount needed to finance the LBO, Lewis came up with a plan to sell off some of the division's assets simultaneous with the takeover When TLC Beatrice reported revenue of $18 billion in 1987, it became the first black-owned company to have more than $1 billion in annual sales At its peak in 1996, TLC Beatrice International Holdings Inc had sales of $22 billion and was number 512 on Fortune magazine's list of 1,000 largest companies.



 
My Influence...Cold-Blooded REGINALD LEWIS
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the Reginald Lewis Story
first black millinonare,i did all the music for this documentary.
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Reginald Lewis, Guiding People on their Life Purpose
Psychic medium Reginald Lewis is back and uses his gift to provide guidance to STEVE audience members. The talented medium also discuss being an ordained Non-Denominational Minister SUBSCRIBE...
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Psychic Medium Reginald Lewis Talks with Toni Braxton’s Grandfather
Reginald Lewis is able to communicate with Toni Braxton's grandfather and relays messages of hope and love. SUBSCRIBE to get the latest #STEVETVShow: Connect with STEVE online! Visit the...
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Reginald F. Lewis Museum on BMORE Lifestyle
Reginald F. Lewis Museum is dedicated to Maryland's African American history and culture. There's so much to learn and a lot to see!
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The Reginald F. Lewis Museum Intro
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Baltimore Made Reginald F Lewis
Keep going! No matter What!
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Reginald F Lewis Americas First Black Billion Dollar Businessman
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Congressman Cummings on Reginald F. Lewis Part 3
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African American Legends: Loida Lewis on Reginald Lewis
Reginald Lewis' wife discusses her husband's creation of his international business. (Taped: 01/22/1996) African-American Legends profiles prominent African-Americans in the arts, in politics,...
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School makes cancer survivors wish come true
All Michael Gardner wanted to do was play in a football game, but the 10th-grade student at Reginald F. Lewis High School is a cancer survivor and had one of his legs amputated as a child....
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Book review on Reginald F. Lewis, Donahue Peebles and Dr Randal Pinkett
Elife Media - Captured Live on Ustream at http://www.ustream.tv/channel/SZXbMLMbTCH.
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Forest Park vs Reginald Lewis Baltimore High School Football
SportsMajors.com Twitter @SportsMajors Forest Park host Reginald Lewis school in a Class 1A match-up. The Foresters are coming off a 26-6 victory over Lake Clifton. Lewis is looking for their...
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Game Changers: Jackie Copeland (Reginald F. Lewis Museum)
Guest Jackie Copeland, Director of Education and Visitor Services for the Reginald F. Lewis Museum and Co-Curator of "Maryland Collects: Jacob Lawrence"
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RFL Game 1 Changing The Culture
Game 1 2016 Lewis Football Lewis 20- Patterson 0.
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Dundalk High School vs Reginald Lewis High School Basketball Highlights
https://www.sportsmajors.com https://twitter.com/SportsMajors https://www.instagram.com/sportsmajors_com Baltimore County vs Baltimore City School match-up in the Dundalk Holiday Invitational...
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Reginald F. Lewis 75th Birthday Celebration!!
R​EGINALD F. LEWIS 75TH BIRTHDAY CELEBRATION!! If you missed it, this short slide show is the next best thing to having actually been there. Those who knew him as a family member, high school/col...
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Black History Celebrated At Reginald F. Lewis Museum
Rick Ritter reports.
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Congressman Cummings Speaks About Reginald F. Lewis
As Mrs Carolyn Fugett (RFL's mother) and Loida Nicolas Lewis (RFL's widow) look on. 30th Anniversary of the TLC Beatrice Deal.
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Reginald F Lewis Voiceover Video CD Release Party
Eric Marner's CD release advertisement....
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