The ancestors not only dreamed of a day when Black people in America would be able to be afforded the full measure of citizenship — including voting rights, employment equity, and equal access to public and private spaces — they also saw clearly the need to control capital. The ability to leverage money and other resources is the foundation for growing businesses and accumulating the kind of wealth that causes generational transformation for families and communities. From hair care pioneer Madam C. J. Walker to BET founders Robert Johnson and Sheila Johnson to legendary investor Reginald Lewis, the quest for capital has been a quieter but incredibly important part of the Black community’s journey for full participation in American society. While Black Americans still control a fraction of the capital controlled by those from other backgrounds, progress has been made. 

For the second year in a row, Forbes published its list of the 50 most powerful and wealthiest Black Americans in alternative investments this month. The ForbesBLK 50 Money Makers list includes four titans of industry who are Howard alumni: JoAnn Price (B.A. ’71), Laurence Morse, Ph.D. (B.A. ’73), Levoyd E. Robinson (BBA '87), and Jewel Burks Solomon (BBA ’10). The quartet join well known financial pioneers such as Robert Smith, Jay Z, and Serena Williams who have used smart and creative investments to build enviable business empires.  

In 1994, Price suggested to Morse that they create a firm that pools capital to invest in investment funds managed by other managers. Called a “fund of fund” firm, this investment method allows for diversification and leverages the expertise of an array of fund managers. It was the first-such firm managed by Black investors. They started with $100 million, and today the Connecticut-based firm and its 26 employees manage over $9 billion.  

Before starting Fairview Capital, Price had a multifaceted career. After working for the Pennsylvania State Legislature, she became the president of the American Association of Minority Enterprise Small Business Investment Companies. Morse also had a diverse career as a labor economist, earning his Ph.D. in economics from Princeton University before working for UNC Ventures and TSG Ventures.