Black Excellence : Reginald F. Lewis

Reginald F. Lewis's journey from modest beginnings to becoming a trailblazer in American business is a pure example of determination and vision. Born on December 7, 1942, in East Baltimore, Maryland, Lewis grew up in a neighborhood he later described as "semi-tough." Despite the challenges, his family instilled in him the values of hard work and ambition. His grandmother, emphasizing the importance of being careful with money, taught him the importance of saving, even fashioning a makeshift safe from a tin can to protect his earnings.

From a young age, Lewis exhibited entrepreneurial flair. At ten, he established a newspaper delivery route for the "Afro-American" newspaper, expanding his clientele from ten to over a hundred within two years before selling the route profitably. His grandfather, serving as a headwaiter and maitre d' at a private country club, taught him: "Know your job and do it well." This advice, coupled with stories of Paris during World War I, sparked in Lewis a lifelong appreciation for French culture.

At Dunbar High School, Lewis distinguished himself both academically and athletically, earning multiple varsity letters across baseball, football, and basketball, and serving as team captain in all three sports. His leadership extended beyond the field, as he was elected vice president of the student body. Balancing his commitments, Lewis worked nights and weekends at a local country club, funding his own clothing and eventually purchasing a car.

In 1961, Lewis secured a football scholarship to Virginia State University. Unfortunately,an injury cut his sports dream short., redirecting his focus to academics and work. Demonstrating his business acumen, he excelled as a photographer's sales assistant, generating substantial business and even being offered a partnership—which he declined as he had bigger dreams.

Lewis's legal journey began in 1965 when he participated in a Rockefeller Foundation-funded summer program at Harvard Law School, designed to introduce African American students to legal studies. His exceptional performance led to an unprecedented invitation to attend Harvard Law School that fall, making him the only person in the institution's 148-year history to be admitted before applying. He graduated in 1968, with his senior thesis on mergers and acquisitions receiving honors.

After a brief tenure at a prestigious New York law firm, Lewis co-founded Wall Street's first African American law firm, focusing on corporate law and structuring investments in minority-owned businesses. His clientele included major corporations like General Foods and Equitable Life (now AXA). Notably, he served as counsel to the New York-based Commission for Racial Justice and represented The Wilmington Ten, successfully advocating for North Carolina to pay interest on their bond.

Transitioning from law to business, in 1983, Lewis founded TLC Group L.P., a venture capital firm. His first major deal was the $22.5 million acquisition of the McCall Pattern Company, a home sewing pattern business. Through strategic restructuring and innovative management, he revitalized the company, leading to its most profitable year and eventually selling it for $90 million, yielding a 90-to-1 return on investment.

In 1987, Lewis achieved a historic milestone by purchasing Beatrice International Foods for $985 million, renaming it TLC Beatrice International Holdings Inc. This acquisition marked the largest leveraged buyout of overseas assets by an American company at that time, establishing TLC Beatrice as the first black-owned company to surpass $1 billion in annual sales.

Beyond his business triumphs, Lewis was a committed philanthropist. In 1987, he established the Reginald F. Lewis Foundation, which donated approximately $10 million to various non-profit organizations during his lifetime. His notable contributions included an unsolicited $1 million grant to Howard University and a $3 million donation to Harvard Law School, the latter being the largest in the school's history at that time, leading to the naming of the Reginald F. Lewis International Law Center.

Tragically, Lewis's life was cut short when he succumbed to brain cancer on January 19, 1993, at the age of 50. His legacy endures, not only through his groundbreaking achievements in business but also through institutions like the Reginald F. Lewis Museum of Maryland African American History & Culture in Baltimore, which opened in 2005 with the support of a $5 million grant from his foundation. The museum stands as a testament to his enduring impact, celebrating African American culture and history.

Reginald F. Lewis's story is a powerful reminder of what can be accomplished through vision, tenacity, and an unwavering commitment to excellence.