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    • The Top 10 Richest Black People in the World

      • Robert L. Johnson - $550 million. ...
      • Sean Combs - $550 million. He has also been known by other stage names, like Puff Daddy or Diddy or P.Diddy. ...
      • Michael Jordan - $650 million. ...
      • Mo Ibrahim - $1.1 billion. ...
      • Isabel dos Santos - $2 billion. ...
      • Oprah Winfrey - $2.8 billion. ...
      • Patrice Motsepe - $2.9 billion. ...
      • Mike Adenuga - $4.7 billion. ...
      www.therichest.com/world/the-top-10-richest-black-people-in-the-world/
  1. The State of America’s Wealthy Black People

    www.blackenterprise.com › its-lonely-at-the-top

    Nov 27, 2017 · Wealthy black people account for 4% of the nation's top-earning households and the wealth gap between them and the average black person is staggering. Here are the habits of millionaires.

  2. The Top 10 Richest Black People in the World | TheRichest

    www.therichest.com › world › the-top-10-richest

    May 11, 2013 · Robert L. Johnson is the founder, former Chairman and ex-Chief Executive Officerof Black Entertainment Television, or BET. He is considered as the first AfricanAmerican to become a millionaire after becoming the first black person fromanywhere in the world to become part of Forbes Magazine’s list of the richest peopleon earth.

    • Sammy Said
  3. Top 10: The people and places who made up a rich black ...

    www.examiner.net › article › 20100220

    Feb 20, 2010 · A Rich Heritage: A Black History of Independence, Missouri, by William J. Curtis, Better Impressions, 1985. Your Kansas City and Mine, by William H. Young and Nathan B. Young Jr., Midwest Afro ...

  4. Top 6 Countries That Grew Filthy Rich From Enslaving Black People

    atlantablackstar.com › 2013/10/01 › nations-that

    Oct 01, 2013 · According to Harper’s magazine (November 2000), the United States stole an estimated $100 trillion for 222,505,049 hours of forced labor between 1619 and 1865, with a compounded interest of 6 ...

    • The United States of America
    • England
    • France
    • Netherlands
    • Portugal
    • Spain

    Slavery transformed America into an economic power. The exploitation of Black people for free labor made the South the richest and most politically powerful region in the country. British demand for American cotton made the southern stretch of the Mississippi River the Silicon Valley of its era, boasting the single largest concentration of the nation’s millionaires. But slavery was a national enterprise. Many firms on Wall Street, such as JPMorgan Chase, New York Life and now-defunct Lehman Brothers, made fortunes from investing in the slave trade, the most profitable economic activity in New York’s 350-year history. Slavery was so important to the city that New York was one of the most pro-slavery urban municipalities in the North.

    Between 1761 and 1808, British traders hauled 1,428,000 African captives across the Atlantic and pocketed $96.5 million – about $13 billion in value today – from selling them as slaves. From 1500 to 1860, by very modest estimations, around 12 million Africans were traded into slavery in the Americas. In British vessels alone, 3.25 million Africans were shipped. These voyages were often very profitable. For instance, in the 17th century, the Royal Africa Company could buy an enslaved African with trade goods worth $5 and sell that person in the Americas for $32, making an average net profit of 38 percent per voyage. Slave-owning planters and merchants who dealt in slaves and slave produce were among the richest people in 18th-century Britain, but many other British citizens benefited from the human trafficking industry. Profits from slavery were used to endow All Souls College, Oxford, with a splendid library; to build a score of banks, including the Bank of London and Barclays; and...

    With over 1,600,000 enslaved Africans transported to the West Indies, France was clearly a major player in the trade. Its slave ports were a major contributor to the country’s economic advancements in the 18th century. Many of its cities on the west coast, such as Nantes, Lorient, La Rochelle and Bordeaux, built their wealth through the major profits of the triangular slave trade. Between 1738 and 1745, from Nantes, France’s leading slave port, 55,000 slaves were taken to the New World in 180 ships. From 1713 to 1775, nearly 800 vessels in the slave trade sailed from Nantes. By the late 1780s, French Saint Domingue, which is modern-day Haiti, became the richest and most prosperous colony in the West Indies, cementing its status as a vital port in the Americas for goods and products flowing to and from France and Europe. The income and taxes from slave-based sugar production became a major source of the French national budget. Each year over 600 vessels visited the ports of Haiti to...

    The Dutch West India Company, a chartered company of Dutch merchants, was established in 1621 as a monopoly over the African slave trade to Brazil, the Caribbean and North America. WIC had offices in Amsterdam, Rotterdam, Hoorn, Middelburg and Groningen, but one-fourth of Africans transported across the Atlantic by the company were moved in slave ships from Amsterdam. Almost all of the money that financed slave plantations in Suriname and the Antilles came from bankers in Amsterdam, just as many of the ships used to transport slaves were built there. Many of the raw materials that were turned into finished goods in Amsterdam, such as sugar and coffee, were grown in the colonies using slave labor and then refined in factories in the Jordaan neighborhood. Revenue from the goods produced with slave labor funded much of The Netherlands’ golden age in the 17th century, a period renowned for its artistic, literary, scientific and philosophical achievements. Slave labor created vast source...

    Portugal was the first of all European countries to become involved in the Atlantic slave trade. From the 15th to 19th century, the Portuguese exported 4.5 million Africans as slaves to the Americas, making it Europe’s largest trafficker of human beings. Slave labor was the driving force behind the growth of the sugar economy in Portugal’s colony of Brazil, and sugar was the primary export from 1600 to 1650. Gold and diamond deposits were discovered in Brazil in 1690, which sparked an increase in the importation of African slaves to power this newly profitable market. The large portion of the Brazilian inland where gold was extracted was known as the Minas Gerais (General Mines). Gold mining in this area became the main economic activity of colonial Brazil during the 18th century. In Portugal, the gold was mainly used to pay for industrialized goods such as textiles and weapons, and to build magnificent baroque monuments like the Convent of Mafra.

    Starting in 1492, Spain was the first European country to colonize the New World, where they established an economic monopoly in the territories of Florida and other parts of North America, Mexico, Trinidad, Cuba and other Caribbean islands. The native populations of these colonies were mostly dying from disease or enslavement, so the Spanish were forced to increasingly rely on African slave labor to run their colonies. The money generated from these settlements created great wealth for the Hapsburg and Bourbon dynasties throughout Spain’s hold on the area. But it also attracted Spain’s European rivals, prompting Spanish rulers to spend the riches from the Americas to fuel successive European wars. Spanish treasure fleets were used to protect the cargo transported across the Atlantic Ocean. The ships’ cargo included lumber, manufactured goods, various metal resources and expensive luxury goods including silver, gold, gems, pearls, spices, sugar, tobacco leaf and silk. Port cities in...

  5. The Top 1% of Americans Have Taken $50 Trillion From the ...

    time.com › 5888024 › 50-trillion-income-inequality

    Sep 14, 2020 · Price and Edwards calculate that the cumulative tab for our four-decade-long experiment in radical inequality had grown to over $47 trillion from 1975 through 2018. At a recent pace of about $2.5 ...

  6. Extensive Data Shows Punishing Reach of Racism for Black Boys ...

    www.nytimes.com › interactive › 2018/03/19

    Mar 19, 2018 · White boys who grow up rich are likely to remain that way. Black boys raised at the top, however, are more likely to become poor than to stay wealthy in their own adult households.

  7. Income Inequality - Inequality.org

    inequality.org › facts › income-inequality
    • Income Inequality
    • Wage Inequality
    • Racial Income Inequality
    • Ceo-Worker Pay Gaps

    Income includes the revenue streams from wages, salaries, interest on a savings account, dividends from shares of stock, rent, and profits from selling something for more than you paid for it. Unlike wealth statistics, income figures do not include the value of homes, stock, or other possessions. Income inequality refers to the extent to which income is distributed in an uneven manner among a population. Income disparities are so pronounced that America’s top 10 percent now average more than nine times as much income as the bottom 90 percent, according to data analyzed byUC Berkeley economist Emmanuel Saez. Americans in the top 1 percent tower stunningly higher. They average over 39 times more income than the bottom 90 percent. But that gap pales in comparison to the divide between the nation’s top 0.1 percent and everyone else. Americans at this lofty level are taking in over 196 times the income of the bottom 90 percent. The U.S. income divide has not always been as vast as it is...

    Between 1979 and 2007, according to Economic Policy Institute research, paycheck income for those in the richest 1 percent and 0.1 percent exploded. The wage and salary income for these elite groups dipped after the 2008 financial crisis but recovered relatively quickly. Between 2009 and 2018, the bottom 90 percent had wage growth of just 6.8 percent, compared to 19.2 percent for the top 0.1 percent. Productivity has increased at a relatively consistent rate since 1948. But the wages of American workers have not, since the 1970s, kept up with this rising productivity. Worker hourly compensation has flat-lined since the mid-1970s, increasing just 24 percent from 1979 to 2018, while worker productivity has increased 134 percent over the same time period, as shown by Economic Policy Institute research. One factor in the widening income divide is the decline of U.S. labor unions. As the share of the workforce represented by a union has declined to less than 11 percent since their peak i...

    In 2019, Fortune 500 CEOs, who earned approximately $14.8 million on average, included just five Black people and 17 Latinx people — less than 5 percent of the total. By contrast, these groups made up 44.1 percent of the U.S. workers who would benefit from a raise in the federal minimum wage to $15 per hour by 2025, according to the Economic Policy Institute. Blacks and Latinos comprise 31.9 percentof the U.S. population. One indicator of racial disparities at the top of the U.S. earnings scale is the threshold for entry into the top 10 percent. According to the Pew Research Center, for White families to make it into this tier of earners in their racial group, they need to have annual income of at least $117,986 — nearly twice as much as the threshold for Black families. Racial discrimination in many forms, including in education, hiring, and pay practices, contributes to persistent earnings gaps. As of the last quarter of 2020, the median White worker made 27 percent more than the...

    CEO pay has been a key driver of rising U.S. income inequality. Corporate executives head about two-thirdsof America’s richest 1 percent of households. While ordinary workers struggled in the face of Covid-19, many corporate boards fixated on shielding their CEOs from pandemic risk. The Institute for Policy Studies annual Executive Excessreport found that more than half of the 100 S&P 500 companies with the lowest median worker pay moved bonus goalposts or otherwise rigged rules to inflate CEO pay in 2020. Among these rule-rigging corporations, CEO compensation averaged $15.3 million, up 29 percent from 2019. Median worker pay ran $28,187 on average in 2020, 2 percent lower than the 2019 worker pay rate. The ratio between CEO and median worker pay averaged 830 to 1. With U.S. unions playing a smaller economic role, the gap between worker and CEO pay has exploded since the early 1990s. In 1980, the average big company CEO earned just 42 times as much as the average U.S. worker. In 20...

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