Investing has seemingly been a hot topic and gaining much more interest within the Black community. Companies like Apple, Tesla, Coca Cola, and Nike, just to name a few, have generally been among the most common names you hear about when discussing investment portfolios, and that's understandable, they're big whales with a lot of value to our current society.
It's rare to hear about any Black owned publicly traded companies. Perhaps they simply aren't marketed as such, or maybe they aren't being sought after. Either way, they do exist.
Ranging from finance, healthcare, tech, and broadcasting, if you are looking for an additional way to support Black owned businesses, then here are 7 that you can add to your portfolio:
1. RLJ Lodging Trust
Founded by Robert L. Johnson and Thomas J. Baltimore Jr. in 2000, RLJ Lodging Trust is a real estate investment trust. Their portfolio consists of 103 hotels ranging across almost half of the U.S. The company's portfolio includes several well-known brands, such as Courtyard by Marriott, Residence Inn by Marriott, Hilton Garden Inn, Homewood Suites by Hilton, Embassy Suites by Hilton, Hyatt Place, and Wyndham.
2. Urban One
Urban One as originally founded by Cathy Hughes as Almic Broadcasting in 1979. They began as a single station station (WOL (AM) in Washington, D.C. In 1999 Radio One sold it's first share of common stock which made Cathy Hughes the first African-American woman to head a publicly traded company. Since then, Radio One has gone on to purchase 35 additional radio stations, in 2017 the name was changed to Urban One. They have expanded into a multi-media conglomerate, with other brands such as TV One, Reach Media, One Digital, and One Solution just to name a few.
3. Global Blood Therapeutics
Sickle Cell disease has been plaguing our community. 1 out of every 365 Black children is born with this genetic disorder. Global Blood Therapeutics is ahead of curve by developing several treatments and therapies. Global Blood Therapeutics' Voxelotor is the first treatment approved by the FDA to target an underlying cause of Sickle Cell disease.
4. Carver Bancorp
Headquarters: New York, N.Y.
Founded by a group of community leaders and small business owners in 1948, Carver Bancorp is the holding company for the Carver Federal Savings Bank. It is a federally chartered savings bank. Carver offers consumer and business banking products and services to traditionally underserved African-American communities. Starting out in Harlem, Carver now has 8 branches and many more 24/7 ATM Centers. Due to it's dedication of serving these particular communities, the U.S. Treasury Department has designated the bank as a Community Development Financial Institution.
5. Broadway Financial Corp.
Broadway Financial Corp. also is focused on serving low-to-moderate income communities by offering loan and deposit products. Broadway Financial Corp was founded in 1946 as Broadway Federal Savings and Loan Association by a group of Los Angeles civic leaders, H.A. Howard, and Dr. H. Claude Hudson.
6. Axsome Therapeutics
Founded in 2012 by Dr. Herriot Tabuteau, Axsome is the next largest company in the healthcare sector behind Global Blood Therapeutics. Axsome focuses on the development of novel therapies for managing central nervous system disorders. Their products are designed to treat migraines, narcolepsy, fibromyalgia, Major Depressive Disorder (MDD), and Alzheimer's Disease-related agitation, in addition to smoking cessation treatment.
7. American Shared Hospital Services
American Shared Hospital Services deals with the technological end of the healthcare industry. They provide equipment to medical centers and hospitals. They also offer financing solutions for state of the art medical tech that typically would not be as affordable.
It's always recommended that you do your own due diligence when considering where to invest your capital, but this does go to show that you can support Black owned businesses with the opportunity to also turn a profit in the process.
What are your thoughts? Please leave a comment below.
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