Greetings HFN Fam! Today, we’re delving into another Hidden Figures story: the amazing Sarah Rector, the first Black female millionaire. Let’s uncover how this young African-American girl became a millionaire at the tender age of 11. Buckle up as we dive into her incredible journey!
Early Life
Sarah Rector was born in 1902 in Indian Territory, now known as Oklahoma. Her parents were African American members of the Muscogee Creek Nation, who had previously been enslaved by the tribe before gaining their freedom. Sarah’s family lived in a modest cabin and had very little in the way of material possessions. But hold on to your hats, because everything changed for Sarah in 1913.
Striking Oil
At the age of 11, Sarah was granted ownership of a piece of land. This land turned out to be a goldmine—well, an oil mine, actually—in the oil-rich region of Oklahoma. Suddenly, this young girl started receiving large royalty payments from oil companies drilling on her land. She quickly became one of the wealthiest African American children in the United States. Imagine going from counting pennies to counting thousands of dollars overnight!
Challenges and Guardianship
However, Sarah’s story wasn’t all smooth sailing. Despite her newfound wealth, she faced numerous challenges. Her parents had passed away, and a white man named T.J. Porter became her guardian. Porter was supposed to manage Sarah’s finances, but there were serious concerns about him mismanaging her wealth and possibly spending the money on his own interests. Talk about a guardian gone rogue!
National Sensation
Sarah’s case quickly drew the attention of the press, turning her into a national sensation. Civil rights activists rallied to her cause. Her situation eventually led to changes in laws governing the guardianship of Native American and African American children. Not only was Sarah breaking bank accounts, but she was also breaking barriers.
Growing Wealth
As Sarah grew older, her wealth continued to flourish. By the time she turned 18, she was one of the wealthiest African American women in the country, with a net worth of several million dollars. She owned multiple properties, including a grand mansion in the all-black community of Taft, Oklahoma, which she built in 1921. Sarah didn’t just sit on her fortune—she used her wealth to support charitable causes and advocate for civil rights. She donated large sums of money to African American schools, churches, and hospitals, becoming an influential figure in the fight for racial equality.
Historical Context
Now, for a bit of historical context: Sarah Rector and Madam C.J. Walker both became millionaires during the early 20th century, but Sarah Rector became a millionaire first. She was granted ownership of her valuable land in 1913 at the age of 11, making her one of the wealthiest African American children in the U.S. at the time. Meanwhile, Madam C.J. Walker achieved her millionaire status in the mid-1910s through her successful hair care and beauty products business.
The Power of Generational Wealth
So, what’s the takeaway from Sarah Rector’s amazing journey? Her legacy continues to inspire people to this day. She reminds us of the immense power of generational wealth and how it can provide financial security and opportunities for future generations. Sarah Rector, the first Black female millionaire, exemplifies how inherited wealth can change lives.
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Stay savvy, my friends!
Emma Knows Money