Change of Fortune
During the 1950s, Fuller was probably the richest African American man in the United States. His cosmetics company had $18 million in sales and a sales force of five thousand (one third of them white). It gave training to many future entrepreneurs and other leaders. “It doesn’t make any difference,” he declared, “about the color of an individual’s skin. No one cares whether a cow is black, red, yellow, or brown. They want to know how much milk it can produce.”
Despite his opinion, the White Citizens Councils organized a boycott of Fuller's Nadal products line during the 1950s, when they learned an African American owned the company. This would be the beginning of a turn of fortune for Fuller's business interests that would affect his activities throughout the 1960s.
In 1963 Fuller was the first African American inducted into the National Association of Manufacturers. During his acceptance speech he stated that "a lack of understanding of the capitalist system and not racial barriers was keeping blacks from making progress." In an interview that same year with U.S. News and World Report he said, "Negroes are not discriminated against because of the color of their skin. They are discriminated against because they have not anything to offer that people want to buy." Afterwards his company suffered severe setbacks as many of his comments were reported out of context. Major national black leaders reacted angrily and called for a boycott of Fuller Products.
In 1968, Fuller sold unregistered promissory notes in interstate commerce for which he was charged with violating the Federal Securities Act. After pleading guilty, being placed on five years' probation, and ordered to repay creditors $1.6 million, Fuller Products entered bankruptcy in 1971. Although the company reorganized, reported profits of $300,000 in 1972, and the cosmetics portion of the old company was rebuilt, it never returned to the firm's previous levels of size or profitability.
In 1976, Fuller, as a result of health problems, asked his top distributor, Joe Louis Dudley, Sr., to move to Chicago and become President of the Fuller Products Company. Dudley ran both Fuller Products Company and Dudley Products Company from 1976 until 1984. In 1984, Fuller Products Company was purchased by Dudley.
Fuller was eighty-three years of age when he died at St. Francis Hospital in Blue Island, Illinois from kidney failure.
Read more about this topic: Samuel B. Fuller
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