Black Wealth Magazine

Michael and Steven Roberts

ST. LOUIS, Missouri (CNN) — Michael and Steven Roberts didn’t have two quarters to rub together a couple of decades ago. Now, the two African-American business leaders estimate their holdings — from hotels to TV stations — are worth $1 billion. One St. Louis hotel they own once barred black people.

“Black folks need legacy. We have to have examples of successes in order for us to be able to let the generations to come know that many of the successes that occurred by African-Americans in this country can be seen and pointed out and can be emulated,” says Michael Roberts, the chairman and CEO of The Roberts Companies.

Michael and his brother Steven, who is three years younger, stroll through their office, complete with wood-paneled doors, large leather chairs and a pool table fit for a king. Their office sits along a busy street in St. Louis called Kingshighway.

“They used to call us the Kings of Kingshighway, because we own so much on this street,” Michael Roberts says.

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