Title: Black In Business: Celebrating The Legacy Of Black Entrepreneurship
Headings: Black In Business: Celebrating The Legacy Of Black Entrepreneurship
Black In Business: Celebrating The Legacy Of Black Entrepreneurship
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Meet The Members Of The Black Billionaires Club
Robert F. Smith
Current Net Worth: $5 Billion
David Steward
Current Net Worth: $3.5 Billion
Oprah Winfrey
Current Net Worth: $2.7 Billion
Michael Jordan
Current Net Worth: $1.9 Billion
Jay-Z
Current Net Worth: $1 Billion
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Content: Black businesses were targeted and we saw a rollback in many of the advancements that were made previously,” says Tiffiany Howard, a small business and entrepreneurship fellow at the Congressional Black Caucus Foundation. The rate of black business creation continued to rise and fall throughout the 20th and 21st century, increasing in the ’90s, dipping during the 2008 recession and rising again post-recession. In recent years, the number of black-owned businesses has risen dramatically, with black women fueling much of that growth. In 2003, Oprah Winfrey, arguably the most notable black female entrepreneur, became the first black American billionaire. And in just the last five years, four other African-Americans have reached the billionaire echelon. But even with this forward momentum, black entrepreneurs still face a number of challenges: primarily, a lack of access to capital, says Ron Busby, president of the U.S. Black Chambers. “ We have the acumen, the creativity, the knowledge and even the manpower. But without access to capital, our ideas come to a standstill, are stolen or are manipulated.” Many of the black 2020 30 Under 30 listmakers echo a similar sentiment in candid video interviews with Forbes, but they also note the black community’s collective ability to persevere against all odds.