On Jan. 11, Monique Rodriguez, founder and CEO of multi-million-dollar natural hair care brand Mielle Organics, announced she had sold her company to P&G Beauty, sending Black Twitter into a frenzy. Though Rodriguez and her husband will remain CEO and COO of the brand, some consumers are upset to see that it’s no longer Black-owned.
“I don’t wanna hear nothing about supporting Black businesses because the second Black companies get all the support they need from the Black dollar they hand everything over to the person with the biggest check,” said one Twitter user.
For Black founders, success in business can be a double-edged sword. Some would consider selling your company — often for millions — to be a major accomplishment, but Black founders are continually scrutinized by their peers and customers for making this choice.