History Got America's First Black Millionaire Wrong

The first Black female millionaire in America probably isn't who you think.

Most people recognize Madam C.J. Walker as the pioneering entrepreneur who built a beauty empire in the early 1900s. The history books celebrate her achievements. Museums display her legacy. Students learn her name.

But the documented records tell a different story.

Annie Turnbo Malone built her fortune first, grew it larger, and created a business model that Walker herself studied and replicated. By 1920, Malone held $14 million in assets from her beauty and cosmetic enterprises. Four years later, she paid nearly $40,000 in income tax, reportedly the highest in Missouri at that time.

The numbers matter because they reveal a pattern of historical erasure that extends beyond individual recognition to broader questions about whose achievements get remembered and why.

From Orphan to Industrial Pioneer

Born in 1869 in Metropolis, Illinois, to formerly enslaved parents, Malone faced circumstances that would have crushed most ambitions. She was the tenth of eleven children. Both parents died when she was young, leaving her orphaned. Frequent illness prevented her from completing high school.

Yet she discovered chemistry.

By age 20, Malone had developed her own scalp and hair products, which she sold from a buggy throughout Illinois. The formulas addressed a critical health crisis in Black communities, where women experienced severe hair loss and scalp injuries from improper techniques using animal fats and high heat. Her "Wonderful Hair Grower" and Poro products revolutionized hair care methods for African Americans. More significantly, they filled a market gap that mainstream businesses had completely ignored.

The scale of Malone's achievement becomes clear when examining what she built. In 1918, she established Poro College, a $350,000 facility spanning three acres. The complex included a manufacturing plant, retail store, business offices, a 500-seat auditorium, dining and meeting rooms, a roof garden, dormitory, gymnasium, bakery, and ice cream parlor.

This wasn't simply a beauty school. Poro College employed over 175 people and served as a crucial meeting place for African American organizations like the National Negro Business League, who were denied access to most public spaces during segregation. When a devastating tornado struck in 1927, Malone opened Poro College's doors to shelter, clothe, and feed up to 5,000 people affected by the storm.

The business model proved remarkably scalable. By 1930, the Poro Company had grown to include 75,000 representatives worldwide, with products selling in the United States, Philippines, the Caribbean, and multiple African countries. Poro College expanded to thirty-two locations in every major city throughout the United States.

Thousands of African American women gained economic independence through this network during an era of severe discrimination.

The Walker Connection

Sarah Breedlove, who later became known as Madam C.J. Walker, was one of Malone's selling agents. She enrolled at Poro College for training before starting her own competing business.

Historical evidence suggests Walker took the original Poro formula and created her own brand. Malone responded by trademarking her products under the "Poro" name to prevent fraudulent imitations. Walker became more famous, partly because her family preserved her records and legacy more effectively. But historians now recognize that Malone developed her products and distribution system first, making her the true pioneer of the African American beauty industry.

The relationship between these two women illustrates how historical memory forms, recognition often depends less on achievement than on documentation, advocacy, and narrative control.

Despite living modestly, Malone donated an estimated $100,000 throughout her career, equivalent to over $1.5 million in today's purchasing power. She supported Howard University, Tuskegee Institute, and the Black YMCA. From 1919 to 1943, she served as president of the board of directors for the St. Louis Colored Orphans Home. The facility was eventually renamed in her honor and became the Annie Malone Children and Family Service Center, which continues serving the community today.

Her philanthropic approach reflected a broader philosophy about wealth and responsibility. Business success created opportunities for community advancement and economic empowerment, not merely personal enrichment.

Why the Erasure Matters

The question isn't simply about correcting one historical record, Malone's story represents a pattern where pioneering achievements by Black women entrepreneurs get overshadowed or forgotten entirely.

Understanding this pattern matters because it shapes how we think about innovation, entrepreneurship, and who gets credit for building industries. When the first becomes invisible, the narrative about possibility and precedent changes. Malone identified a market need, developed innovative products, built a distribution network, created educational institutions, employed thousands, and gave away substantial wealth for community benefit. She did this during an era when Black women faced compounded discrimination based on both race and gender.

The documented evidence of her achievements exists. The business records, tax payments, property holdings, and philanthropic contributions can be verified. Yet most people have never heard her name. Historical accuracy requires acknowledging that Annie Turnbo Malone built America's first Black female-owned million-dollar enterprise. She created a business model that others studied and replicated. She transformed an entire industry while providing economic opportunities for thousands.

The facts support these conclusions. The question remains why it took so long for them to receive proper recognition.