Two things were a part of my upbringing that I don't think most white Americans would relate to. First, I cannot tell you the number of times that I was told that when I was a kid, 'You know, you're gonna have to work twice as hard to get half as far.' And two, I remember almost as if it were yesterday, my grandmother, she'd say, 'Now remember, you want to be a credit to your race.' It was as if you were carrying a responsibility, not just for yourself or even your family, but for a whole category, a group of people. 
-- Richard Parsons
Born in the Bedford-Stuyvesant section of Brooklyn, Richard Parsons showed himself to be extremely bright and focused early in life. He graduated from high school when he was just 16 years old and attended college at the University of Hawaii. After graduation he was not sure what he wanted to do so at the urging of his wife Parsons attended law school at the University of Albany Law School. Parsons not only graduated at the top of the class but he also scored the highest marks of all the lawyers who took the New York State Bar exam in 1971.
Parsons was hired as an aide to Governor Nelson Rockefeller's legal staff. When Rockefeller served as Gerald Ford's Vice President, Parsons was brought to Washington as general counsel and then promoted to Associate Director of the Domestic Council. When Democratic nominee Jimmy Carter defeated President Ford in 1976 Parsons returned to New York and joined the law firm of Patterson, Belknap, Webb & Tyler,
where he became partner after only two years.
In 1988 Parsons shocked many by announcing he had accepted the position of Chief Operating Officer of the Dime Savings Bank of New York. At the time the bank had bad debts of $1 billion dollars and was facing financial ruin. He streamlined operations and restructured management, which led to a dramatic turnaround for the bank. Its debt was reduced to $335 million and in 1995 he helped orchestrate the merger between Dime and Anchor Savings Bank.
Later that year Parsons surprised the business world again when he became President of Time Warner. He was instrumental in the AOL and Time Warner Merger. In 2001 Gerald Levin, then-CEO of AOL Time Warner, announced that Parsons would be the company's next CEO. Two years later he added Chairman of the Board to his impressive resume.
Parsons was hired as an aide to Governor Nelson Rockefeller's legal staff. When Rockefeller served as Gerald Ford's Vice President, Parsons was brought to Washington as general counsel and then promoted to Associate Director of the Domestic Council. When Democratic nominee Jimmy Carter defeated President Ford in 1976 Parsons returned to New York and joined the law firm of Patterson, Belknap, Webb & Tyler,
where he became partner after only two years.
In 1988 Parsons shocked many by announcing he had accepted the position of Chief Operating Officer of the Dime Savings Bank of New York. At the time the bank had bad debts of $1 billion dollars and was facing financial ruin. He streamlined operations and restructured management, which led to a dramatic turnaround for the bank. Its debt was reduced to $335 million and in 1995 he helped orchestrate the merger between Dime and Anchor Savings Bank.
Later that year Parsons surprised the business world again when he became President of Time Warner. He was instrumental in the AOL and Time Warner Merger. In 2001 Gerald Levin, then-CEO of AOL Time Warner, announced that Parsons would be the company's next CEO. Two years later he added Chairman of the Board to his impressive resume.
