Companies that got rich from Slavery

History has consistently shown that slavery has diminished the quality of life for African Americans and simultaneously enhanced the quality of life for White Americans. From institutionalized racism to blocked social and economic opportunities, African Americans are often excluded of African Americans.

Apologies cannot compensate an entire race of people for all of the social and economic ills they face as a result of their enslavement. They cannot address the residual effects of slavery. They cannot provide job opportunities to a race of people who are experiencing high unemployment rates. Apologies without action from the very systems they helped to create. Had it not been for slave labor, many corporations would not be where they are today and for these companies to acknowledge their involvement in slavery and then simply say ‘Oh, I’m sorry”, is to downplay their role in perpetuating the degradation are nothing more than a futile attempt to correct a wrong by pacifying the wronged. Instead of apologies, these companies could give back to the African American community by donating to HBCUs, investing in minority businesses, offering more minority scholarships, or launching initiatives to increase their number of minority employees. These companies include:

1. New York Life

New York Life found that its predecessor (Nautilus Insurance Company) sold slaveholder policies during the mid-1800s.

2. Tiffany and Co.

Tiffany and Co. was originally financed with profits from a Connecticut cotton mill. The mill operated from cotton picked by slaves.

3. Aetna

Aetna insured the lives of slaves during the 1850’s and reimbursed slave owners when their slaves died.

4. Brooks Brothers

The suit retailer started their company in the 1800s by selling clothes for slaves to slave traders.

5. Norfolk Southern

Two companies (Mobile & Girard and the Central of Georgia) became part of Norfolk Southern. Mobile & Girard paid slave owners $180 to rent their slaves to the railroad for a year. The Central of Georgia owned several slaves.

6. Bank of America

Bank of America found that two of its predecessor banks (Boatman Savings Institution and Southern Bank of St. Louis) had ties to slavery and another predecessor (Bank of Metropolis) accepted slaves as collateral on loans.

7. U.S.A. Today

U.S.A. Today reported that its parent company (E.W. Scripps and Gannett) was linked to the slave trade.

8. Wachovia

Two institutions that became part of Wachovia (Georgia Railroad and Banking Company and the Bank of Charleston) owned or accepted slaves as collateral on mortgaged property or loans.

9. AIG

AIG purchased American General Financial which owns U.S. Life Insurance Company. AIG found documentation that U.S. Life insured the lives of slaves.

10. JPMorgan Chase

JPMorgan Chase reported that between 1831 and 1865, two of its predecessor banks (Citizens Bank and Canal Bank in Louisiana) accepted approximately 13,000 slaves as loan collateral and seized approximately 1,250 slaves when plantation owners defaulted on their loans.

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62 thoughts on “Companies that got rich from Slavery

  1. I avoid all those companies anyway. As far as banks go, I switched to a local credit union that is run by the community. I had enough of that nonsense.

      • From their website:

        “Who owns a credit union?
        Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors”

  2. Hey Prince!! Why do you wanna live in the past? Just forget about it? I didn’t own any slaves, and nobody you know were slaves. The thing about you darkies is you refuse take responsibility for your own fails whilst blaming the man.


    this is of course from the advocate the represents the devil.

    • I’m just kind of curious. How did you find my blog? I’ve been getting a lot of traffic for this post lately. My share button shows its been shared on Facebook over 2,000 times. Did you see this on Facebook? If so,could you tell me what page?

      • i know you didn’t ask me but just to answer your question anyway.
        i found your blog on Facebook, a friend of mine shared it, who shared it from one of their friends, but i can’t see where she got it from, cause i aint friends with her.

        but what might make you happy is, that i live in germany, so your blog is being read world wide right now 😉

        anyway thanks for posting this. black folks need to learn about this stuff world wide 😉

  3. Yeah, its all true. But we as a people need to stop askin for reparation. We need to break away from these white devils like Marcus Garvey told us over 50 yrs ago. Reparation from white folks is never comin so stop expectin it. They got what they got cus they took it. All u niggas lookin for reparations, are u ready to take it back, and if so u must be ready to die for it so that your future off spring can have it betta.

    • Thank you for your heartfelt comments. You do make some valid points. We all need to take what you in consideration. I really do appreciate the comments. Drop by anytime. Peace.

    • You wouldn’t/shouldn’t want reparations anyway. What you should want is that $25 million gold debt to be paid back. Which in all reality would be impossible to pay back since it’s been at least 200 years since slavery “ended” in the sense of bondage, but there is this little thing called HJR 192 and I think everyone should look it up. For the most part though we as “Americans” have infinite credit due to the inability of that loan to be paid off and the “powers that be” don’t want us to know that and why is that you wonder? Well the reason is pretty simple Currency or (money as you know it as is nothing, but a debt bearing/ promissory note that was in place so we can obtain the gold for the value of the note right? So when the gold standard was phased out in 1968 that dis-continued the ability to redeem silver or gold with the notes altogether and then the “dollars and cents” became the only fiat currency acceptable, but if the “dollars are debt bearing notes then how is the debt supposed to be paid off right” That’s where HJR 192 comes in with HJR 192 you would do what is called a “debt bounce” and this “debt bounce” is basically a way of bouncing debt from one party to another. check out this link for a better understanding.

  4. Pingback: Boycott! - 21 Major Corporations that got rich from Slavery - RasTafari TV™ | 24/7 Strictly Conscious Multimedia Network

  5. I already know about all of this and I get a little pissed for my ancestors & myself all the time..but I still appreciate it floating around and as a constant reminder..this needs to stay in the limelite forever…why hide the truth? they dont hide their lies!!

  6. Greetings,

    I found your blog through Claire’s Electra in the Desert.

    The nuances of slavery are unrecognized by most. While evident to blacks who have suffered obviously and disproportionately, brutally and continually and unjustly so, slavery has evolved to quite a level of sophistication, keeping only but a few unaware of their own servitude. The fact is we are all slaves to the gods and their elite forces, to some degree or another. And while some slaves enjoy rank and its privileges, and yes, they are predominately white, they too are nonetheless enslaved. Mostly willingly, as the benefits are irresistible to the average human, of any color.

    I hope this article isn’t suggesting that the quality of all whites is improving at the expense of blacks that would be ludicrous, or simply shortsighted. Granted there are large numbers of whites who benefit, and in a big way and in large numbers. But not all, while whites have dominated the upper and middle classes, the middle class is in rapid decline, many of whom find themselves in the ranks of the impoverished, experiencing that which blacks have long lived. And this is no accident.

    I’m white, but too I am an activist of equal rights for all regardless of race or species. Yes, I take the fight for equality that far.

    There is no greater weapon in the elite’s arsenal of oppression than to keep the masses divided, conquered, racist, envious, and ignorant, and a fine job they do of it. Only when we garner our forces and stand united do we stand a chance. And for this to even be possible that unity must include the rights of the whole of sentient life. Without that, it is destined to fail as it has always failed.

    And this too, as someone alluded above, we are all of black ancestry as all human life originated out of Africa. Enslave one and you enslave us all. And they have.

    Peace to you.

  7. There’s international complicity here, Great Britain , France, Holland , Spain Spain and Portugal also benefited mightily from the International slave trade
    European coffers were filled with revenue from arms sales, international trade, and finished goods ,ship design and raw material
    The availability of massive of raw materials in the United States and relative peace in Western Europe help spur the Industrial Revolution.
    This list of US companies while not exhaustive is a jumping off point for a more thorough examination focused on the microeconomics of slavery .

  8. …Wonderfully Informative Post, Kin Kushite!
    & As They Are Intent On Remaining Reparations Offenders, & Generational Skin Sinners- Let’s Rejoice In Counting Down The Remaining Time Left For This Decaying Matrix; Then Start Building From The Ether Come Down…

  9. LA Poppy the Irish slave trade was roughly 11 years. Most Irish were indentured, and able p to buy their way out of servitude. Black Slavery in America lasted 390 years. We were enslaved on our own land, us Ibo’s or African Americans were here before Columbus. We were here before the American Indian. We Africans created everything known to man, yet were treated as sub human, and it is no different in 2016. During the Irish servitude, were the men and women rapped. Men castrated, children sold, families sold, beat into submission, killed for sport, babies feed to alligators, experimented in like a lab rat. We were also prosecuted on skull island by Hitler. These same Irish slaves became overseers when, blacks became the new slaves. So don’t try to compare the two, or trivialize the enslavement of a race of people because the albino, was a theif, lazy, and was definitely envious of the Original Man. The Black Man

  10. The whole economic system, they did us like a dope dealer, they got their money up, and created business,, and shut us out, than have the nerves to call us lazy, but they would still be in the cave of Europe, if I’we ancestors don’t civilized them.

  11. God …is always so touchy to read about slavery ….especially when I read ” children for sale”…
    Sorry for what my people did….
    Time to pay…just like jews and everybody else…repartation

  12. I got to change my banking institution! Or do I? Aren’t hey all the same at he end of the day. I need a black owned bank

  13. Just like the Germans accepted their guilt for the Holocaust at the end of WWII, whites do need to accept responsibility for the past and ongoing oppression of people of color… and restore what they can. At the same time, if the demands are so high that offenders go out business, are at risk of physical harm, or are unable to support their families, then just like the Germans at the end of WWI, resentment will lead to an increase, not a decrease, in hostilities.

    We need to find a way to build bridges between our communities so mutual respect and trust can be restored. White people need to make the first step. Will our brothers and sisters in the Black, Hispanic, Asian, and Native American communities be open to it? What would be a good and convincing first step?

  14. @the Prince, though I have to co-exist with whites and other races that are what I call “white identified,” I believe that in receiving reparations that we would “break the bank” so to speak. Simply put, unlike other races that have been persecuted followed by reparations, white supremacy does not want US To receive reparations because we have never been perceived as “inclusive” in this country although WE helped to build this country. To this day, whites are not “genuinely sorry” for the acts throughout history that this race has perpetrated on us. All we have have to do is look at the discrimination and disparity in ALL areas of people activity. And a few trinkets and coins will not do by way of not wanting to change the social order of things or the status quo if you will. Until this occurs, any pseudo apology will continue to fall on deaf ears.

    • You’re right it would break the bank. They all know what we are owed. But they want us as second class citizens. All other groups get reparations. And I agree that they are far from genuinely sorry. I also don’t think they believe in divine karma. But regardless it’s coming.

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