Sarah Chancellor was born in 1902 as a descendant of slaves in the United States. Although her childhood was filled with prejudice and racism, the little girl went from nothing to having everything thanks to an amazing discovery that made her a millionaire. In this way he led a life of luxury, fame and success until he invested in the stock market and other companies.
the grandparents of Sarah Chancellor They were born slaves as part of Muscogee Creek, a Native American community then known as Indian Country.
But after the civil war and because of the Dawes law (or General Assignment Law) it was agreed that the descendants of slaves would receive land as compensation.
With that in mind, Sarah Rector received 160 acres of land in the middle of the Glenn Pool oil field and was initially valued at US$550, but the family was surprised to discover the land was unproductive.
Tired of paying annual dues of around $30, Sarah’s father decided to put the land up for sale. Unfortunately nobody wanted to buy it and only Standard Oil Company was willing to rent the property for a reasonable price.
How did you become a millionaire?
What initially looked like unproductive land was an oil well that made it possible Standard Oil Company and Sarah Rector’s family to produce 2,500 barrels per day. By 1913, revenue exceeded $300 a day, which would be worth $8,000 a day today.
Announcement of Sarah Rector’s earnings in a local newspaper. Photo: Kansas City Star
At just 11 years old, Sarah Rector was known as The “richest colored girl in the world” and to be considered a “white citizen” by the state, but due to the prejudices that have existed over the last century, many people questioned her unexpected fortune and she was required by law to have a white-skinned guardian, TJ Porter, to administer the minor’s income.
Thanks to her parents’ intervention, Sarah has been able to manage her own money over the years and even owned one of the first black-owned car dealerships in the United States. By the age of 18, he had already graduated from high school and had a net worth of more than a million dollars, an amount that he invested in the stock market, real estate, a large house, and other businesses.
Due to the exorbitant income and her new life as a millionaire, Sarah Rector received marriage proposals from all over the world; However, she married Kenneth Campbell in 1922 and had three children.
Sarah Rector went from a life of poverty to a life of luxury and became a millionaire. Photo: Martin City Telegraph
Although she later divorced, the millionaire remarried in 1934 to William Crawford, owner of a large restaurant frequented by celebrities including jazz musicians Count Basie and Duke Ellington. In addition, it hosted large parties of the time. Sarah Rector passed away peacefully on July 22, 1967 at the age of 65.