wealth

News & Politics

Wells Fargo Wants to See More Black Homeowners

Wells Fargo wants to see more Black homeowners and as a result, the financial institution plans to assist 250,000 African-Americans by 2027. According to a press release on its website, over the next ten years, Wells Fargo will build up a $60 million lending commitment specifically for African-Americans. This program will focus on continued support and create

Tip
News & Politics

Tip ‘T.I.’ Harris’ Open Letter to US: ‘There Are No More Excuses’

Recently, hip hop superstar Tip “T.I.” Harris penned letters to President Obama, which appeared in The New York Times and to incoming President Donald Trump, which appeared in Rolling Stone. But this time, he decided he needed to talk to the people he calls “US.” Harris has been more outspoken since the deaths of Philando Castile

Dollars
Careers & Finance

Community Building: Your Guide to Recycling Black Dollars

Want better schools, resources and services in your neighborhood? The first step is supporting businesses that are owned by people who look like you. Studies show that the lack of cooperative economics is killing the Black community—and keeping others smiling all the way to the bank. EBONY breaks down how to move past fault and

Careers & Finance

Increasing Black Wealth Takes Generational Sacrifice — It Always Has

Several months ago I heard a distinguished, older Black man, U.S. Court of Appeals Judge Damon J. Keith, speak at an event and he made many profound statements. We were all taking notes, to refer to later for our own encouragement; and, we all rushed to get a copy of his latest book, Crusader for

Careers & Finance

Operation HOPE Founder, Inspiring Change Through Financial Literacy

A native of Compton and South Central Los Angeles, John Hope Bryant was always a business-savvy kid who sold candy in his neighborhood. Even back then, he understood the value of a dollar and today is diligently trying to teach others the same values. Now, the CEO and Founder of Operation HOPE, a non-profit that

Culture & Black Life

The Emerging ‘Blackonomy’

Cha-Ching! Black folks are getting, more money, more education, and overall more equity and social building assets according to Nielsen’s recently released report “Increasingly Affluent, Educated, and Diverse: African-American Consumers –The Untold Story.” Personally, I didn’t need a report to tell me about my people. However, how many times have we all read stats that

Careers & Finance

7 Habits of Self-Made Millionaires

There are certain things that we have no control over. We have no control over when we will come out of this Great Recession and we have no control over being fired or laid off. But we do have control over our personal financial choices and our actions. In other words, even with the grimmest

A striking reminder of the link between race and poverty in America
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Blacks Much More Likely to be Poor (and Stay Poor) than Whites

New data from the Census Bureau confirms a key fact about poverty in America: many people duck in and out of it. In 2012, 23.1 percent of all Americans were in poverty for two or more months — what the Census Bureau calls "episodic poverty" — but only 8.4 percent were in poverty for all

Brazilian millionaire Cozete Gomes
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World’s 85 Richest People Have as Much as 3.5 Billion Poorest People

We’ve long known that life isn’t fair and that the world’s wealth is unevenly distributed. But the latest factoid from Oxfam on global poverty and inequality is breathtaking. In a new report, the nonprofit reports that just 85 people—the richest of the world’s rich—hold as much wealth as the poorest 3.5 billion. That’s half the

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Who’s Whiter and Richer than the GOP? Libertarians

You could call it the wealthy White fratboy wing of the GOP. Or perhaps its masters-of-the-universe subset, as exemplified by Wall Streeters who regularly rank private profits above the common good and whose credo is “get government out of my way.” Libertarians make up a small but enduring slice of the Right, a nationwide study

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Income Inequality and Education

The American Dream isn't dead. It's just moved to Denmark. Now, we like to think of ourselves as a classless society, but it isn't true today. As the Brookings Institution has pointed out, America has turned into a place Horatio Alger would scarcely recognize: we have more inequality and less mobility than once-stratified Europe, particularly the Nordic

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The Cities Where People Earn the Biggest and Smallest Paychecks

Want to make more money? Easy. Move to San Jose, Arlington, Va., or Hartford, Conn. Okay, so maybe it’s not that simple. Of course there’s no guarantee that you’ll earn a bigger paycheck in these cities—but it is more likely, as they’re among the highest-paying metro areas in the country. To find the cities where people earn the largest

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Perfect Income for Happiness Around $161,000

More than one study has tried to determine the financial price of happiness. Some look at wealth. Others look at income. One well-publicized study last year put the optimal income for happiness at around $75,000. Rising income, it turns out, produces greater happiness until you get to around $75,000. After that, there are diminishing returns,