On July, 4th 1892 Arthur George Gaston checked into the game of life. Although the rules were designed for him to lose and he was facing a heavily favored opponent, he made no excuses.
One-hundred years and millions of dollars later, the game had long since been a blowout and A.G. Gaston, still playing as hard as ever, was crowned Entrepreneur of the Century by Black Enterprise.
An impoverished grandson of slaves, Gaston was born during the pre-affirmative action, pre-civil rights, Jim Crow era.
Undaunted by these dark times, he still opened the Booker T. Washington Insurance Co. (with $500) in 1923. In 2005 BTW Insurance Co., worth $56.2 million at the time, was named one of the top 5 Black Enterprise Insurance companies.
BTW Insurance was the pillar of Gaston’s real estate, communications, and insurance empire estimated to be worth more than $130 million.
It’s no coincidence that this giant of an entrepreneur was born on Independence Day. His life is the epitome of freedom- financial freedom.
Gaston never made it past the 10th grade.
But he still understood the power education. When Autherine Lucy went to register as the first black student to attend the University of Alabama she received financial aid from Gaston.
At one point in time, Gaston was having trouble finding clerks and typists for his business. Adhering to the mantra of all successful entrepreneurs- find a need and fill it- Gaston opened the Booker T. Washington School of Business. He didn’t expect to make any money but “during the war it turned out to be a lucrative investment.”
He didn’t have an economics degree but he founded the Citizen’s Federal Saving’s Bank. He didn’t have a communications degree but he owned two radio stations. He didn’t have a master’s in business but he built an empire and left a legacy.
What’s on your agenda?
One-hundred years and millions of dollars later, the game had long since been a blowout and A.G. Gaston, still playing as hard as ever, was crowned Entrepreneur of the Century by Black Enterprise.
An impoverished grandson of slaves, Gaston was born during the pre-affirmative action, pre-civil rights, Jim Crow era.
Undaunted by these dark times, he still opened the Booker T. Washington Insurance Co. (with $500) in 1923. In 2005 BTW Insurance Co., worth $56.2 million at the time, was named one of the top 5 Black Enterprise Insurance companies.
BTW Insurance was the pillar of Gaston’s real estate, communications, and insurance empire estimated to be worth more than $130 million.
It’s no coincidence that this giant of an entrepreneur was born on Independence Day. His life is the epitome of freedom- financial freedom.
Gaston never made it past the 10th grade.
But he still understood the power education. When Autherine Lucy went to register as the first black student to attend the University of Alabama she received financial aid from Gaston.
At one point in time, Gaston was having trouble finding clerks and typists for his business. Adhering to the mantra of all successful entrepreneurs- find a need and fill it- Gaston opened the Booker T. Washington School of Business. He didn’t expect to make any money but “during the war it turned out to be a lucrative investment.”
He didn’t have an economics degree but he founded the Citizen’s Federal Saving’s Bank. He didn’t have a communications degree but he owned two radio stations. He didn’t have a master’s in business but he built an empire and left a legacy.
What’s on your agenda?
Gaston was publicly called an Uncle Tom for disagreeing with some of the methods of Dr. Martin Luther King, Jr. and other civil rights leaders.
This was primarily because Gaston, like his role model Booker T. Washington, believed that long-term economic development was a more pressing matter than short-term civil rights struggles.
Although he focused on the economic status of blacks, Gaston was by no means accepting of Jim Crow laws. He put his money where his mouth was by directly and indirectly providing substantial financial support to Dr. King and the Civil Rights Movement.
Unlike so many leaders before and after him, in the face of adversity and extreme criticism, Gaston made no excuses. He put aside the philosophical differences. He understood that although they were traveling on different roads, they were still headed to the same place.
So, when Commissioner Eugene “Bull” Connor arrested Dr. King for marching without a permit, who went to the Birmingham City Jail with $5000 to bail him out? A.G. Gaston.
When King and other civil rights leaders needed a place stay and free meeting space, where did they go? They went to the motel and offices of A. G. Gaston.
As a result, unknown individuals blew up a part of Gaston’s motel where Dr. King and Rev. Ralph Abernathy were staying. Also, Gaston’s house was fired bombed when he returned from a state dinner at the White House with President John F. Kennedy.
While building his business during the 1920’s (more than 40 years before the Voting Rights Act) Gaston became an advocate for voter registration.
This was primarily because Gaston, like his role model Booker T. Washington, believed that long-term economic development was a more pressing matter than short-term civil rights struggles.
Although he focused on the economic status of blacks, Gaston was by no means accepting of Jim Crow laws. He put his money where his mouth was by directly and indirectly providing substantial financial support to Dr. King and the Civil Rights Movement.
Unlike so many leaders before and after him, in the face of adversity and extreme criticism, Gaston made no excuses. He put aside the philosophical differences. He understood that although they were traveling on different roads, they were still headed to the same place.
So, when Commissioner Eugene “Bull” Connor arrested Dr. King for marching without a permit, who went to the Birmingham City Jail with $5000 to bail him out? A.G. Gaston.
When King and other civil rights leaders needed a place stay and free meeting space, where did they go? They went to the motel and offices of A. G. Gaston.
As a result, unknown individuals blew up a part of Gaston’s motel where Dr. King and Rev. Ralph Abernathy were staying. Also, Gaston’s house was fired bombed when he returned from a state dinner at the White House with President John F. Kennedy.
While building his business during the 1920’s (more than 40 years before the Voting Rights Act) Gaston became an advocate for voter registration.
One day, standing inside First National Bank, he saw a “Whites Only” sign above the water fountains. The sign was immediately taken down when Gaston threatened to close his account.
"Money is no good unless it contributes something to the community, unless it builds a bridge to a better life. Any man can make money, but it takes a special kind of man to use it responsibly." -A. G. Gaston
Gaston reached the pinnacle of high achievement and leadership during a time when he was preordained to fail. He is a stellar example of why we should laud and admire our great entrepreneurs as much as our educational, political, and religious leaders.
A. G. Gaston provided anyone who wants to do something with their life a timeless and empowering lesson on making excuses.
It’s not about the obstacles or the circumstances; it’s all about what you do. Period.
A. G. Gaston provided anyone who wants to do something with their life a timeless and empowering lesson on making excuses.
It’s not about the obstacles or the circumstances; it’s all about what you do. Period.
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