black wealth
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Announcing Blacktag, a Platform for Black Creation, Curation and Consumption; Issa Rae and Common Among Partners
In the midst of tragedy, hardships and frustrations that came with the 2020 global pandemic, creators have been pushed to well…be creative in order to survive in this economy. Virtual content is key this year (as all of us who telework and spend a lot of time on Zoom can attest), so naturally, that applies…
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Ice Cube Is Straight Outta Sense if He Thinks Trump Would Actually Give Half a Trillion Dollars of Capital to Black Folks
Ice Cube is still saying things. The 51-year-old rapper clearly still feels a way about the pushback he’s been receiving about not only meeting with Purgatory President Donald Trump but lending any credence to whatever the fuck Trump says he’ll do for this “Contract With Black America.” “Let me get this straight, I get the…
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Gone but Not Forgotten: How This Black Woman Is Carrying on the Legacy of Her Great-Grandfather and Black Wall Street
I think there’s absolutely the potential to create another Black Wall Street. I also think it’s important to support Black-owned businesses, as well as to remove our spending from corporations that only exploit us as customers. — Raven Majia Williams, founder, A.J. Smitherman Foundation text Imagine a thriving Black community with its own hospitals, schools,…
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Cole Brown's Greyboy Illuminates the Intersection of Being Young, Wealthy and Black
Cole Brown has lived his entire 24 years of life at the intersection of privilege and Blackness. The son of a Fortune 100 exec and the grandson of the first female senator in Ethiopia, he was born into the Jack and Jill, exclusive private school, summering in Martha’s Vineyard African American elite. That might be…
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Trump Supporter Wants You to Know He Isn't Just Worth a Measly $1.3 Billion, but $3.3 Billion
Spoiler Alert: La La La Laaaa, you don’t have to wait until Kanye West gets his money right anymore. Oh, and you definitely can’t tell him nothin’. According to Forbes, Kanye’s official net worth is $1.3 billion. Forbes calculated that his stake is worth $1.4 billion, but since it is “private [and] highly illiquid]” their…
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The Racial Wealth Gap Is Dizzying. Its Best Solution, Less So
The racial wealth gap is larger today than it was when The United States passed the Civil Rights Act of 1964. The average white family currently holds about 10 times the wealth of a black one, and the average income from the labor of white families stands at about two times that of black ones…
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Ben Carson Emerges from the Sunken Place to Opine on Reparations, Dismiss Trump’s Impeachment as ‘Very Immature’
Ben Carson, whom award-winning author Kiese Laymon affectionately refers to as “Dad”, whom The Root Senior Editor Stephen Crockett Jr. refers to as “the Godfather of Mumble Rap,” and who I habitually refer to as “ain’t shit,” has a few questions about how this whole reparations thing is supposed to work. On Monday’s edition of…
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OneUnited Bank Launches BankBlack X Campaign to Tackle Racial Wealth Gap, Encourage Financial Literacy
The black dollar is big business. With $1.3 trillion in annual buying power, the influence we wield on the global economy is undeniable. Yet far too often, we’re unable to fully capitalize on our collective monetary might. Looking to break this cycle is OneUnited Bank—the largest black-owned bank in the country—with their commitment to garnering…
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The Wealthiest Black TV Characters of All Time
Was Jefferson Cleaners’ seven locations worth more than Cliff Huxtable’s basement OB/GYN practice? Would Whitley Gilbert qualify for a Pell Grant? Was Flavor Magazine struggling so badly that Khadijah James needed two roommates? These are the arguments that can ensue when the staff at The Root gets a break from the unending meetings we are…
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Racism by the Numbers: How the Internal Revenue Service Targets Poor Black Taxpayers
Every single one of the 10 counties with the highest rates of Internal Revenue Service tax audits are overwhelmingly black. The 10 counties where the IRS audits the least are disproportionately white, with very few black residents. Sometimes, there is no need to beat around the bush. According to a new report from TaxNotes by…