Junior Bridgeman, Former EBONY Owner And Billionaire Businessman, Dies At 71
Billionaire businessman and philanthropist Ulysses Lee “Junior” Bridgeman has died at the age of 71. After a well-respected 12-year career in the NBA, Bridgeman built a successful fast-food empire of over 450 restaurants and later acquired EBONY and Jet Magazine.
Bridgeman’s death
On March 11, Bridgeman suffered a medical emergency at a fundraising luncheon in Louisville, Kentucky. He later died.
Bridgeman’s daughter Eden Bridgeman, EBONY CEO said “It is with profound sadness that I share the news of my father’s passing. During this time, my family and I respectfully request privacy as we grieve the loss of our beloved father, grandfather, husband, and extraordinary family patriarch—a man whose strength, wisdom, and love touched so many lives.”
Bridgeman’s Career
Born in East Chicago, Indiana, Bridgeman played in the NBA for 12 seasons, 10 of them with the Milwaukee Bucks and two with the LA Clippers. From 1985 to 1988, he also served as president of the National Basketball Players Association.
After his basketball career, he grew a fast-food empire. According to Forbes, his first investment of $100,000 was a Wendy’s in Brooklyn in 1987. By 2015, Bridgeman owned more than 450 Wendy’s, Chili’s and Pizza Hut franchises at its peak. He sold most of his franchises the following year for an estimated $250 million. In 2016, he also purchased the Coca-Cola bottling company for an estimated $290 million. Additionally, Bridegman bought a 10% stake in the Milwaukee Bucks.
In 2020, Bridgeman also bought EBONY and Jet magazines, two of the most prominent publications in Black culture, and invested in NBA Africa.
“Mr. Bridgeman was instrumental in continuing EBONY’s legacy, having acquired the publication in 2021, and his visionary leadership and commitment to excellence have left an indelible mark on our organization. Our thoughts and deepest condolences are with Eden and the entire Bridgeman family during this difficult time,” EBONY media said in a press statement.
Image: Brian Bohannon/Imagn Images
