William L. Adams (businessman)
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William L. "Little Willie" Adams (January 5, 1914 – June 27, 2011) was a prominent
Early life
William L. Adams was born on January 5, 1914, in
Business career
Adams used the profits from his illegal lottery to finance a number of legitimate businesses, including a real estate firm[3] and a tavern.[1] He owned Carr's Beach, a popular amusement park in Annapolis, MD,[4] Since most banks would not lend to black-owned businesses at that time, Adams found opportunity investing in such businesses.[1] His most successful investments included Parks Sausages and Super Pride supermarkets.[3] By the late 1970s, Adams' wealth was estimated at $40M.[3]
Legal issues
In 1951, Adams was subpoenaed to testify before Congress during an investigation into organized crime. At that time, he admitted to having run an illegal lottery in Baltimore, and the State of Maryland subsequently charged him with that crime. His conviction was overturned by the Supreme Court on the grounds that the state had violated Adams' Fifth Amendment rights by using his Congressional testimony.[3]
In 1980, Adams was again charged with running an illegal lottery. He was found not guilty of these charges.[1]
Political and community involvement
Adams was instrumental in the election of Maryland's first black US Representative,
References
- ^ a b c d Rasmussen, Frederick (June 28, 2011). "Obituary: William Lloyd "Little Willie" Adams, prominent venture capitalist". The Baltimore Sun.
- ^ Hobson, Courtney C. "William "Little Willie" and Victorine Q. Adams Residence | Explore Baltimore Heritage". Explore Baltimore Heritage. Retrieved 2017-11-15.
- ^ a b c d e f "The Legendary 'Little Willie' Adams, Dead at 97". AFRO. June 30, 2011.
- ^ Pietila, Antero. "Numbers runner, venture capitalist – and booster of Baltimore's black middle class | Baltimore Brew". Baltimore Brew. Retrieved 2017-11-15.