“If you are a person of color you can have as much money as you want, you are still are who you are” – Sheila Johnson (co-founder of B.E.T)
In the U.S. today, the average African-American household owns just 6 cents for every $1 of wealth held by the typical white household, and blacks make up just 1.7% of the top 1% of wealthy Americans. But there are black members of the 1% who are working to change that. Tanzina Vega investigates the historical and contemporary racial barriers to wealth creation in the U.S.
Dr. Umar Johnson speaks on the reality of rich black Americans and there refusal to help their communities.
“.. but guess who the Black Trump?” -Raekwon
After the cut I had to add his collab with Smif N Wesson aptly titled ‘Black Trump’.
Eat the rich. These are the 1% of the 1% who need to be destroyed.
Conspiracy theorists say they are the puppet masters that control the highest echelons of society from finance to music. Rumored to have occult satanic connections, secret ties to the gold trade, a dark mysterious hidden agenda and a plan for a new world order, these real families are some of the richest families in the world. In documentary form, these are the top facts on the families Rothschild, Rockefeller, Du Pont, Morgan and Bush.
Wise words from Mr. Shakur.
This week Forbes released their “Wealthiest Black Americans” list and it should be no surprise that rapper/entrepreneur Jay-Z made his way onto the exclusive list.
In no particular order, the list created by Forbes consists of about 20 prominent and well-off African Americans.
Jay-Z has managed to take himself from Brooklyn’s Marcy Projects to CEO of Def Jam Records [click to read] in a span of only a few years.
Forbes reports the 39-year-olds net worth as being $150 million which has been gained through Jay Z’s work as an entertainer and the many investments he has made throughout the years.
Jay-Z is co-owner of the 40/40 Club, partial owner of the New Jersey Nets, and he recently sold Rocawear for $204 million [click to read].
With a net worth of $110 million, Def Jam founder Russell Simmons was a few millions shy of making it onto the list.
Other well-known African Americans to make Forbes list include Oprah Winfrey, Michael Jordan, Magic Johnson, and Tiger Woods