Black Enterprise

In May 2026, a report by the Chicago Crusader alleged that the magazine had laid off all 15 of its freelance writers while only retaining editors, with its report also claiming that the cuts were to renewed focus on digital publications from physical prints as well as decreased advertising revenue. ²

Background

Black Enterprise is a media outlet and magazine founded in 1970 by Earl Graves, Sr. to report on business and entrepreneurialism among and involving Black Americans. The outlet was initially founded through a $250,000 loan from Chase Manhattan (later renamed JP Morgan Chase).  ²

The magazine’s initial board of advisors included U.S. Rep. John Lewis (D-GA); Shirley Chisholm, the first person of color to seek a party nomination to run for U.S. president; and former NAACP chair Julian Bond. In 1973, it began producing its annual list of the 100 largest Black owned businesses. As of 2026, the magazine also published lists of “Most Powerful Women in Business,” “Entrepreneurial All Stars,” and the “Top 40 Business Leaders Under 40.”  ²

During its 50th anniversary in 2020, the magainze transitioned from print to digital publication. ²

DEI Reporting

On its website, Black Enterprise has a “Diversity, Equity, Inclusion” (DEI) header listing pro-DEI stories and relations between DEI policies and the African American community. ³

In July 2026, the magazine published an article titled, “Black Women’s Equal Pay Day Sparks Push for Workplace Reform” that claimed wealth disparities with African-American women were caused by them working in lower-paying careers. The story also advocated for racial equity to promote policy to require equal pay rates in certain career fields as well as protections for employees who “discuss compensation.” ⁴

In June 2026, the magazine published an article titled, “A Battle for Wealth Equity: Inside the Push for Real Reparations” that advocated in favor of the NAACP’s proposal for a federally funded reparations policy, calling the proposal a “mandatory correction for centuries of economic pillaging. ⁵ The NAACP reparations proposal included land grants of 40 acres for descendants of slaves or African American families with unknown lineages as well as lowering the age and income thresholds for social services and Medicare for Black Americans. ⁶

Activities

Black Enterprise hosts a “Black Men Xcel Summit,”  an annual conference with panels discussing business and enterprise-related successes within Black American communities on topics including wealth management, executive leadership, and employee networking.  ⁷

“Energizing Equity Day” is an annual event hosted by the magazine that advocates for financial and energy policies to support racial equity initiatives. Its 2025 event discussed saving money on utility bills through environmentalist methods such as reducing heat loss in the winter. ⁸

Leadership

Earl G. Graves Sr. was the founder of Black Enterprise, founding the group in 1970 and later worked as its CEO until 2006. Prior to this, from 1989 to 2013, Graves Sr. also served on the Howard University board of trustees. ⁹ He served in the Army after college for two years, spent three years as then-U.S. Senator Robert F. Kennedy’s (D-NY) administrative assistant, and launched Black Enterprise following Sen. Kennedy’s assassination. ² In April 2020, Graves passed away from Alzheimer’s diesease. ¹⁰

Earl “Butch” Graves Jr., son of Earl Graves, Sr., became president and COO of the magazine in 1998 and took over as CEO in 2006. ²