It is something that was seemingly developed simultaneously by many different cultures around the world in generally the same pattern known as the hierarchy of colour names.

• https://gizmodo.com/how-the-colors-got-their-names-1510522700

Resent research suggest the hierarchy of colour matches our reaction to said colour frequencies thus those with a stronger reaction were named earlier.

As for who precisely chose the name for each colour it seems as if it was a collaboration of evolution in languages with simple mass preference which determined the outcome of the colours name along side the original words meanings.

Quote from the link above as example

“Black derives from words invariably meaning the color black, as well as dark, ink and "to burn."

Originally meaning, burning, blazing, glowing and shining, in PIE it was *bhleg. This was changed to *blakkaz in Proto-Germanic, to blaken in Dutch and blaec, in Old English. This last word, blaec, also meant ink, as did blak (Old Saxon) and black (Swedish).

The color was called blach in Old High German and written blaec in Old English. One final meaning, dark (also blaec in Old English) derived from the Old Norse blakkr.”

Basically blacks original use was to blacken or to burn but also was the name used for ink by olde English times but today it still holds relation to the common colour of ink and the results of burning. The curious part is that through most various cultures they all seem to start with similar linguistic sounds despite being completely different languages, colour was already a universal language of sorts and origins of specifically whom decided the name are lost to time.

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