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Black Woman Whose Whiskey Brand Made History Crossing $100M In Sales Now Owns A Bank

 

Fawn Weaver lived in three homeless shelters before turning 19 years old. She spent time reading biographies of successful entrepreneurs like Andrew Carnegie, Henry Ford, Charles Schwab, Andrew Mellon, J.D. Rockefeller, and J.P. Morgan in between living in shelters and buying her own house.

Weaver began her entrepreneurial journey in 1991, when she was only 18 years old, with the purchase of a condo. She worked three jobs while in school to save up for her first home. She had saved enough money by 2000 to purchase two duplexes.

Since then, she and her husband, Keith Weaver, have been flipping multiple properties, which has become their primary source of wealth over the last two decades. She also founded the whiskey brand Uncle Nearest Premium Whiskey, which recently announced sales of more than $100 million through October 2022, making it one of the world’s most successful Black-owned distilleries. The whiskey company expects to more than double that figure by the end of 2023.

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After selling nearly 1.5 million bottles of its sought-after super-premium whiskey, the brand became the best-selling African-American-owned and founded spirit brand in the United States in 2021. According to a statement, the company’s whiskey portfolio of seven offerings is available at its distillery in Shelbyville, Tennessee, as well as in all 50 states, territories, and districts across the country.

Weaver founded Uncle Nearest Premium Whiskey to honor the memory of Nearest Green, an enslaved African American who assisted Jack Daniel in starting his distillery.

“To reach this and every other milestone on our horizon, we continue to push nonstop. Every penny this company has earned has gone back into the business, as well as to put Nearest Green’s college-age descendants through college and to invest in minority-owned businesses and entrepreneurs through our Black Business Booster program (BBB), the Nearest and Jack Advancement Initiative (NJAI) and Uncle Nearest Ventures,” said Weaver.

The serial entrepreneur is now a co-owner of a bank. In a recent post on Instagram, Weaver announced that she has bought a bank located in Tennessee.

“So…we bought a bank,” Weaver said in her caption. “Actually, even better, we bought the building and became the landlord of Keith’s parent’s bank.”

 

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Written by How Africa News

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