Founder of New Black Wall Street Market in Stonecrest dies at 80

STONECREST, Ga. — A well-known, “legendary” businessman from the metro Atlanta area died last week at the age of 80.

According to his family, Lecester “Bill” Allen, also known in Stonecrest as “The Wiz,” was described as a staple and beloved figure of the city’s residents.

“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,” the family said.

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Allen had a long career in business, creating a variety of platforms for African American and minority entrepreneurs to build and grow their businesses, as well as fostering economic independence and developing community resilience, according to a statement from his family.

“The Wiz” founded the New Black Wall Street Market in Stonecrest to recreate and revitalize the spirit of the original Black Wall Street in Tulsa, Okla., the family said.

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Allen also launched an organization focused on helping marginalized communities by connecting them to resources, mentors and networking opportunities called the Allen Entrepreneurial Institute.

His family said Allen was the largest commercial landowner in Stonecrest and developed worldwide support to rebuild the legacy of New Black Wall Street.

“His devotion to African American prosperity has been unmatched. From increasing the number of minority- and women-owned establishments to contributing more than $100 million to students at Historically Black Colleges and Universities, Mr. Allen worked tirelessly to break down barriers, while also changing economic landscapes that ultimately led to increased visibility and more support for black-owned businesses,” according to the Allen family’s statement on his passing.

A news conference about Allen will be held at 11 a.m. on Wednesday at the New Black Wallstreet Market in Stonecrest.

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