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Rags to Riches

In: Social Issues

Submitted By steveclus
Words 1640
Pages 7
6 rags to riches
From Oprah Winfrey to Steve Jobs to J.K. Rowling, entrepreneurial success stories are the stuff from which American dreams are made. Much like these famous names, the six self-made millionaires we’re profiling have one thing in common: Thanks to hard work, determination and sound advice from mentors, friends and family, they’ve been able to build thriving businesses from the ground up.

The rise to the top can be bumpy. In fact, some of the entrepreneurs we talked to were homeless during the early years of their companies. That’s why they all agree that it’s important to help others in need. All, including Radio One’s Catherine L. Hughes and Life is good co-founder Bert Jacobs, give back to the community by volunteering time, donating to charitable organizations or running their own charities.

Catherine L. Hughes
Age: 64

Occupation: Founder and chairperson, Radio One

Advice to young entrepreneurs: "Sometimes the ones who love you the most will give you the worst business advice."

By conventional standards, Hughes wasn’t destined to build a successful multimillion-dollar media company. She was a teen mom by 16 and never graduated from college, but had brief stints at area universities in her hometown of Omaha, Neb.

Despite her limited formal education, Hughes, who credits publishing legend John H. Johnson as one of her mentors, worked her way up at Omaha’s KOWH radio starting in 1969 before heading to the nation’s capital to become a lecturer at Howard University. In 1975, she became general manager for the university’s radio station, WHUR-FM. By 1979, she bought her first radio station, WOL-AM in D.C., with her then-husband and founded Radio One a year later.

Those early years were rough. Hughes, who was divorced by then, slept with her son on the floor of her radio station because she couldn’t afford to live anywhere…...

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