According to a recent article in Black Enterprise magazine by Diamond Jeune, Fawn Weaver and her husband, Keith Weaver, appear to have started their New Year’s resolution of building generational wealth a bit early after the Uncle Nearest Premium Whiskey CEO shared that they purchased a bank in Tennessee.
This announcement comes after Fawn revealed that her whisky company had surpassed $100 million in sales in October 2022 and is expected to double that in 2023. Fawn founded Uncle Nearest Premium Whiskey in 2017. Since the company’s launch, it has become a best-selling brand and received numerous awards.
In the Instagram reel shared on December 23, Fawn disclosed why this purchase was monumental while revealing that she and Keith brought the building that his parents owned.
Fawn said, “So…we bought a bank. Actually, even better, we bought the building and became the landlord of Keith’s parent’s bank. Do you want to know how women and people of color decrease the wealth gap? Real estate.”
Further in the caption, Fawn reflected on when she was living in a homeless shelter at 19 years old and how she read biographies of numerous business professionals. Each story, she added, had an underlying theme: “significant investments in real estate.”
Fawn added, “Somewhere between living in my third homeless shelter, before the age of 19 (shout out to @covenant_house) and coming into my own, I spent a lot of time reading biographies on America’s early titans like Andrew Carnegie, Henry Ford, Charles Schwab, Andrew Mellon, J.D. Rockefeller, J.P. Morgan. You want to know what they all had in common? Significant investments in real estate.”
Also, in the post, Fawn claimed that her interest in owning real estate was further fueled by Keith, because of his previous success in the three properties he owns. Because of Keith’s guidance throughout this journey, she said, they have been able to buy and sell real estate as their “main form of net worth for nearly 20 years.”
Fawn closed the caption by encouraging others to build their generational wealth: “We are the generation that knows better. So, we can do better. The Weavers are committed to doing better so the next generation isn’t starting from scratch. Want to join us.” Since that announcement, no additional details have been released.