DALLAS (KDAF) — Fort Worth City Council members have designated June 22 as William Madison “Gooseneck Bill” McDonald Day in Fort Worth to honor the city’s first Black millionaire.

Officials chose the date June 22, because that is the day William Madison McDonald was born to enslaved parents near Terrell in 1866.

Through banking, politics and entrepreneurship, McDonald gained immense wealth and quickly became one of the first Black millionaires in the Lone Star State, according to the city’s website.

McDonald eventually moved to Fort Worth and founded the Fraternal Bank and Trust Co. Through his leadership, the bank helped grow the number of Black entrepreneurs in the area by lending them money, when white banks would not.

Officials say he died in Fort Worth on July 5, 1950, and was buried in Trinity Cemetery in Fort Worth.

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Photo courtesy City of Fort Worth