Lecester “Bill” Allen, who was nicknamed “The Wiz” and founded the New Black Wall Street Market in suburban Atlanta, has died after a long illness. He was 80 years old.
Allen came to regional and national renown as a brilliant businessman and creator the New Black Wall Street Market in Stonecrest, Ga., a burgeoning town about 17 miles east of Atlanta. The market was created in 2021 to pay homage to and emulate the original Black Wall Street that thrived in the Greenwood section of Tulsa, Okla., until it was destroyed by a White mob in a 1921 race massacre.
The family confirmed Allen’s passing, on Saturday, June 22, in a statement.
“Last week, our family was deeply saddened yet grateful to be alongside a truly remarkable businessman and passionate community servant as he passed at the age of 80,” it read. “As a staple and beloved figure by the constituents of Stonecrest, Ga., Mr. Lecester “Bill” Allen was a pioneer and iconic businessman who served as an inspiration for countless entrepreneurs throughout the state of Georgia and across the nation.
“Known locally as ‘The Wiz,’ Mr. Allen was a visionary who saw potential when others saw obstacles. He created a multitude of platforms for African American and minority entrepreneurs to build and grow their businesses, foster economic independence and develop community resilience.”
Allen was a prolific philanthropist and real estate developer
In addition to the New Black Wall Street Market, Allen also donated more than $100 million to Historically Black Colleges and Universities. He launched the Allen Entrepreneurial Institute which provided mentorship, networking opportunities, and invaluable resources for marginalized communities.
The Allen family is the largest landowner in Stonecrest, 17 miles east of Atlanta, holding 300 acres of real estate and property. New Black Wall Street houses more than 100 African-American business owners and vendors in an enterprise specifically designed for entrepreneurs.
“He developed worldwide support on his initiative to rebuild the legacy of the New Black Wall Street and bring economic development to an entire City,” the statement read.
Jamal-Harrison Bryant, senior pastor at the New Birth Missionary Baptist megachurch only three miles from New Black Wall Street, lauded Allen as a “once-in-a-generation trailblazer” as part of his tribute to the legendary businessman.
“Aside from his obvious success in business, Mr. Allen was rich in wisdom and humility,” Bryant said in a statement. “He had a deep love for our people and truly committed himself to the empowerment of Black families and communities through education and wealth-creation. As a New Birth board member, he served our church well with his enthusiasm for God and his dedication to the people of GOD. He believed passionately in our mission to transform the lives of those in our local community as well as our potential to have profound impact around the globe.”
