The founder of Black Entertainment Television and owner of the NBA's Charlotte Bobcats stated in a speech Tuesday that businesses must "level the playing field" to increase minority representation.
Robert Johnson, one of a few black billionaires according to Forbes Magazine, spoke to about 150 people in Geneen Auditorium as part of the Fuqua School of Business's Distinguished Speaker series.
"The end result of it is that we need to create more Magic Johnsons, Bob Johnsons, Oprah Winfreys," Johnson said. "And that means that society as a whole has to recognize that we as a country can only be competitive, truly competitive in a global economy, if we put everybody on the economic field of play. Everybody has to have an opportunity to contribute."
Johnson said the disparity between black representation in the upper levels of NBA management and on the basketball court is indicative of the need to increase black entrepreneurship.
Unless efforts are taken to increase minority opportunities in business, the potential for a stratified society will continue, he said.
"We, unfortunately, as African Americans have not been a part of that big process-being in the deal world, getting access to opportunities and accumulating capital," Johnson said.
He added that becoming rich doesn't require one to be exceptionally smart or talented-it is often a matter of knowing the right people and making the most of business opportunities.
"I think we have the notion that there's some superior talent you must possess to make money and I'm standing before you telling you, 'you don't,'" he said. "You have to be focused, you have to be driven, you have to have integrity, but it's not something that's not available to a whole lot of people."
Johnson described the path that led him to create BET, especially issues he faced raising sufficient capital and creating a positive image. He credited John Malone, a media mogul, with supporting and financing BET.
"If you can create a relationship based on values, based on a belief that you share the same objectives, you can build business relationships across a wide spectrum of business opportunities," Johnson said.
He added that Malone's support gave BET credibility and allowed the channel to get off the ground. Johnson emphasized that it wasn't talent or intelligence that made him successful, but his success was due to an innovative business idea and networking.
"When I started BET, it wasn't so much that I had this drive to really be a major player in the programming business.... It was because I felt that someone ought to start a cable network that targets content and information to African Americans," he said.
Some audience members said they thought Johnson's speech was insightful and inspiring. "I think that he gave an excellent speech, and the fact that he's been able to develop and grow his own business while maintaining a core belief in social responsibility [shows] that he's truly a leader of the community and has a strong vision for the society as a whole," said Damian Kassack, a first-year student in Fuqua.
But others said Johnson should have spent more time describing how to create wealth in a socially responsible way.
"Most of what he was saying was that he wanted to create wealth in black communities and low income communities, but I just didn't see him really explain how to do that," junior Yonas Tewodros said.
Get The Chronicle straight to your inbox
Signup for our weekly newsletter. Cancel at any time.