George E. Johnson Sr., a trailblazer in the Black hair care industry and founder of the first Black-owned company to be listed on the American Stock Exchange, died Monday at his home in Chicago. He was 99. His death was announced by his family, who did not disclose the cause.

Johnson and his late wife, Joan, launched Johnson Products in 1954 with a $250 loan, establishing their business on Chicago's South Side. The company grew into a significant enterprise, creating popular brands such as Afro Sheen and Ultra Sheen, which primarily served the Black community. Johnson Products was also a national sponsor of the television show "Soul Train" during the 1970s.

"Johnson Products became a fixture in homes and salons around the world and a source of pride throughout Black America," his family said in a statement.

Born in Richton, Mississippi, in 1927, Johnson's early life was marked by hardship. During the First Great Migration, his mother moved him and his brother to Chicago seeking better opportunities. Johnson and his brother engaged in various entrepreneurial activities to help support their family, including collecting and selling cigarette foil and shining shoes.

Johnson began his professional career working for Fuller Products Co., a Black-owned business in Chicago. He developed his own hair care product after identifying a need for a less irritating scalp-straightening formula for men, eventually securing a bank loan by initially presenting it as a vacation fund request for his wife. This venture evolved into Johnson Products.

In addition to fostering business growth, Johnson prioritized his employees, offering above-market salaries, profit-sharing, and healthcare benefits at a time when such provisions were uncommon. Johnson Products was sold in 1993 to a pharmaceutical company for over $60 million.

Following the sale of his hair care business, Johnson founded Independence Bank and became the first Black person to serve on the board of directors for Commonwealth Edison, Illinois' electric utility. His commitment to education led to the establishment of the George E. Johnson Educational Fund, which has awarded more than 1,000 college scholarships. His memoir, "Afro Sheen: How I Revolutionized an Industry with the Golden Rule, from Soul Train to Wall Street," was published in 2024.