In Buckhead (Atlanta), the biggest of celebrities attended The Our Golden Future reception, a celebration of the reintroduction of Atlanta Life Insurance Company. Atlanta Life Insurance is one of the long remaining Black-founded and owned life insurance companies in Atlanta, established in 1905. It was founded by Alonzo Herndon, a formerly enslaved man who is known as a successful businessman and Atlanta’s first Black millionaire.
Former NBA player and business mogul Earvin “Magic” Johnson is reemerging the company under new leadership nearly 120 years since it was first founded. Johnson will be in partnership with Atlanta Life Insurance with his very own insurance company, EquiTrust Life Insurance Company.
“Anytime a Black man can go from slavery to becoming a Black millionaire here in Atlanta, to become an entrepreneur, it’s a story that should be told and I’m glad that we’re able to take this historical brand and company and revitalize it, and really bring it back to the people of Georgia,” Johnson said at the event Monday in Buckhead.
Johnson said he first learned about the storied Atlanta Life company through rapper Killer Mike. Now, Johnson’s life insurance company EquiTrust, which has $25.7 billion in assets, is rolling Atlanta Life into its portfolio, he said.
“Atlanta Life currently has $350 million in assets”, said Atlanta Life executive vice president, Ryan Smith. Over the past 15 years, Atlanta Life had been a provider of employee benefits for employers, but now with Johnson and EquiTrust, Smith plans to go back to the retail market as well as scale the employee benefits side of the business.
Atlanta Life Insurance Company’s Our Golden Future reception was hosted in Atlanta by Earvin “Magic” Johnson and company executives, and attended by celebrities, local business leaders, and elected officials, such as Atlanta mayor Andre Dickens, Ludacris, Jermaine Dupri, Kandi Burruss, Cynthia Bailey, NeNe Leakes, Big Tigger, and more.