WHAT IS BLAK WEALTH?

WHAT IS

BLAK WEALTH ?

Hoard

nos·tal·gic

/hôrd/

/näˈstaljik,nəˈstaljik/ Exhibiting feelings of nostalgia.

A stock or store of money or valued objects, typically one that is secret or carefully guarded.

An ancient store of coins or other valuable artifacts.

An amassed store of useful information or facts retained for future use.

M

Hoard·er

/ˈhôrdər/

A person who hoards things.

om was a hoarder. I am nostalgic. And if the truth be told, it’s in the DNA so probably one of my children could be one or the other.

For me, it started when Dad, Mom and my brother were living in our house with the tin roof. My sister and I were not born yet. The shanty-style Florida Pine wood 4-room house was built by Grandfather Charlie, Mr. Aaron, Mr. Clyde and Daddy. The four rooms; a kitchen, two bedrooms and a sitting room, had no ceiling, screens or bathroom. So, aside from the regular small animal visitors and the monster mosquitoes, it was a really cool house.

There was just one glitch. Mom was a transplanted diva from New York City and the novelty of the paradise-story Dad had sold her had worn off and she threatened to head back to the Big Apple if Dad didn’t add a bathroom for the new baby coming. She would compromise if she could at least get a bedroom. (Yep, they had to walk down the street to Grandma’s house behind the restaurant to use it and shower.

As fate would have it, Dad bent the ear of one of the best mason’s in town to help build the 3-room addition. So, the 5 amigos built the largest living room on the street, a room large enough for two twin beds and bathroom fully equipped with a hot water heater and a linen closet. And finished just in time for the new baby and Thanksgiving.

I know this edition of One Black Tribe should be talking about Blak Wealth – just hold on – it soon come.

It wasn’t long before Mom’s hoarding became noticeable when my brother and sister could no longer see out of their bedroom window because Mom’s treasures were stacked to the ceiling. Costumes from years of the neighborhood recitals, baby clothes that were just “too good to give away” and that aluminum foil Christmas tree sprayed with artificial snow from Macy’s basement sale just because it was marked down to $10.

nos·tal·gia /näˈstaljə,nəˈstaljə/

A sentimental longing or wistful affection for the past, typically for a period or place with happy personal associations.

My Dad believed in paying “good money” for things that should last a long time – like furniture and clothes. Mom believed you should keep everything, because after all, you did pay “good money” for it and with time it would increase in value. And Mom believed that when a rich person gave you something, keep it because rich people never threw anything of value away.

Which brings me to the point of Generational Wealth.

So, we will keep receipt receipts for IRS, pictures from every backyard BBQ since 3rd grade but do we keep things of value to pass to the next generation?

A few months ago, I was making an inventory list for the insurance company as I packed for my transcontinental move and came across a music box that was given to my mother by one of those “rich” people she worked for. I also had a few pieces of grandma’s jewelry, some artifacts that I didn’t know the value, so I had to get it all appraised. Turns out my working music box is more than a century old, made by some famous European and valued in its present condition worth more than it cost to build and furnish a new house on a sizable piece of land. It also turns out that it was willed to me, so it’s an inheritance. My net worth increased 2000%! And you can best believe that after the trip to the appraiser, I looked at books, teacups… everything differently! I will admit tho that I was probably one receipt, magazine and fork away from Mom’s Hoarders Club.

Update: Mom’s tinsel Christmas tree mysteriously disappeared after 10 seasons. A worthless hand-me-down with a solo nostalgia with no value; just hoarded.

Blak people marginally have not always had the luxury to passing items of value down to the next generation.

We’ve had to pawn, sell, store it only to forfeit it for food or rent. Find that one thing tucked away in your bible, attic or grandma’s garage and get it appraised, insure it, secure in a safe place and write it in your Will for the next generation!

THE INTERACTIVE

BLOG SUBJECTS SEPTEMBER #1

WHO ARE BLAK PEOPLE? (History)

#2

WHY ARE BLAK PEOPLE FEARED? (Misperceptions)

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#3

WHAT IS BLAK WEALTH? (Finance &Currency)

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#4

WHERE ARE BLAK LEADERS? (Community)

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#5

WHEN WILL WE ACCEPT BLAK PEOPLE? (Identity)

30

MaSu

#6

WHO WILL TEACH BLAK PEOPLE? (Education)

#7

WHAT IS BLAK HEALTH?(Mental/Social Disease)

14

#8 #9

WHY ARE BLAK FAMILIES BROKEN? (Religion)

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WHERE ARE SMART BLAK PEOPLE? (Technology)

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WHAT IS BLAK WEALTH? Simply said, a person or family with a net worth of at least $1 billion (US) is considered a billionaire, his or her Afrikan ancestry defines that status Aliko Dangote The World's Richest Blak Person as Blak Wealth.

What Is Net Worth And How Is It Measured? In simple terms, it is adding up the dollar amount of all the things you own that have value (your assets) then subtracting the amount of evrything you owe (your liabilities). Your net worth detemines how much banks and loan companies will lend you. However, if you are like a few of the music artists, gamers, code writers and even cosmetic gurus who hold copyrights, patents or other intellectual property (IP), you may need to calculate your "tangible" net worth, which is the sum of all your tangible assets minus the total amount of your liabilities.

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Robert F. Smith

Poverty The US Department of Health and Human Services (HHS) sets the poverty guidelines for each household size. An American family of four with an annual income of $26,200 or less is deemed to live in poverty.

Even though the US Federal minimum wage of $7.25/hour seems low, Sierra Leone, a small country in West Afrika has the absolute lowest federal minimum wage where workers are paid just $0.03/hour. And while India is a fast growing trillion-dollar economy in the world and is the fifth-largest overall, with a minor GDP of $2.94 trillion yet is the lowest among larger economies paying a minimum wage a $0.28/hour.

In 2017 the Census Bureau reported that African Americans were worse off financially in 2016 than they were in 2000 revealing the median income of African Americans as the only racial group that was left behind White, Asian and Latino households.

1 of the 100 Greatest Minds In The World

What Is Gross Domestic Product (GDP)? GDP is a concept of how a country is ranked on how they manage their resources and judged while they are doing it. GDP determines how much money a country, can borrow and at what interest rate they can be charged. GDP applies to a jurisdiction, not a group of people living in a jurisdiction so…

“If an estimate of African-Americans' total earned income ($836 billion in 2011) is looked at how it compared to national GDPs and Black America were a country, it would be the 15th wealthiest nation in the world.”

INFLATION Is defined as a wide-ranging rise in prices compared to available goods resulting in a sizeable and continuing drop in purchasing power in an economy over a period of time. However. in 2019, the population of Afrikan American community is 47.8 million strong with a buying power that’s equal to many countries’ gross domestic products.

GENERATIONAL WEALTH Is simply assets passed down from one generation to the next. Leaving a significant inheritance or gift to your descendants.

- Larry Elder (Conservative Commentator)

Perceived Value Exceeds Traditional Value in the Blak Community A 2019 Nielsen1 report uncovers that in the Blak community, technology and culture drive Blak buying. The perceived value is a significant reason why the savvy and conscious Blak consumer will buy a product or service.

There is a multi-faceted process that the Blak community takes to buy the products they buy which is fused with their love for technology.

Blaks are more likely to say they shop at high-end stores and say they will “pay extra for a product that is consistent with the image I want to convey.”

Robert F. Smith is an investment banker, chemical engineer, philanthropist and American businessman. He is the founder and CEO of Vista Equity Partners. He was ranked at No 440 on the Forbes 2018 of world’s billionaires. In 2017 he was named as one of the 100 greatest minds in the world of business by Forbes.

Aliko Dangote is a Nigerian business mogul and the world's richest Blak person. His net worth of $10.9 billion as of July 2020, makes him the 162nd wealthiest person in the world and the richest person in Africa.

1 Graham Behlow and Desirae Jones, Precise African American Spending Power

The Nielsen Company (US), LLC, Communications, 09-12-2019

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