While Black men who are millionaires are becoming more common in this day and age, there’s still a noted disparity between them and millionaires of other races. According to the Financial Samurai, there are some pretty mind-boggling statistics to consider when it comes to millionaires. For example: If you are a Black man with only a high school diploma, your chances of becoming a millionaire are only one percent. But having more education doesn’t improve your chances exponentially, because if you’re a Black man with a master’s degree, you only have a six percent chance of becoming a millionaire (A white man with a master’s degree, however, has a 38 percent chance of becoming a millionaire). These statistics alone indicate that millionaire Black men have to go through more to achieve the same thing as their non-Black counterparts. These six millionaire Black men had some invaluable advice to impart — so if you’re looking to join that rarefied strata, read on.

This year, Morehouse College’s A Candle in the Dark Gala shattered expectations, raising an unprecedented $6.8 million for scholarships that will directly impact the lives of current and future students. As one of the most prestigious fundraising events, the gala in Atlanta, GA, celebrates Morehouse’s legacy and its unwavering commitment to empowering young men and strengthening the community. Among the evening’s most compelling moments was the heartfelt address from Rashaun Williams, a Morehouse alum, investor, and philanthropist, who is a 2025 recipient of the Bennie Award and recognized as a Trailblazer. He spoke about the institution’s transformative role in his life. Williams, who has built a career investing in emerging businesses and supporting economic empowerment, credited Morehouse with stepping in when he needed guidance, structure, and a sense of belonging. “Morehouse was my first investor. You’re looking at the return on investment that you get when you invest in...

Managing your finances effectively is more important than ever, and the right budget app can make all the difference. Whether you’re trying to track your spending, grow your net worth , or make smarter investing decisions, using a well-designed budgeting tool can help you stay on top of your financial goals. With so many options available, we’ve rounded up the best budget apps for 2025 to help you find the one that fits your needs. 1. Monarch Money Rating: 4.9/5 (App Store), 4.8/5 (Google Play) Platforms: iOS, Android, Web Cost: Free trial, then $14.99/month or $99/year Monarch Money is a rising star in the budgeting space, offering powerful financial planning tools for individuals and families. It allows users to track spending, set financial goals, and even monitor investments, making it an excellent choice for those looking to grow their net worth. Unlike many free apps , Monarch provides a premium experience with a clean interface, collaboration features for partners, and...

“Houston, we have a problem” took on an entirely new meaning as AFROTECH™ Conference 2024 transformed the city into a hub of innovation and inspiration. Over 37,000 participants, 237 dynamic speakers, and 168 leading corporations came together to create a groundbreaking experience that redefined networking and collaboration. Over four electric days, Houston, TX, became the epicenter of innovation, wealth-building, and culture. From groundbreaking tech demos to impactful conversations on economic empowerment, AFROTECH™ delivers it all with unmatched innovation and purpose. Innovation At The Forefront This year’s conference lived up to its promise, showcasing the forefront of technological innovation. Attendees got a first-hand look at product demos from SnapChat, showcasing its latest hardware, and NVIDIA, which wowed the crowd with groundbreaking 3D imaging technology. The Learning Labs offered AI demonstrations and outlooks for the future, with Google unveiling its advanced Gemini...

Investing $30,000 annually is a substantial commitment that can lead to significant wealth accumulation over time. Whether you’re saving for retirement, a large purchase, or financial independence, a $30,000 yearly investment has the potential to yield impressive returns. However, determining if this amount is “good” depends on various factors, including your financial goals, income level, investment strategy, and risk tolerance. Here’s a breakdown of what makes investing $30,000 a year effective and what to consider in order to maximize your investment strategy. Potential Growth of a $30,000 Annual Investment To understand the impact of investing $30,000 a year, let’s consider some hypothetical growth scenarios. If you invest $30,000 annually and earn an average return of 7% per year (a common historical average for the stock market ), your investments would grow to around $1.02 million over 20 years. Over 30 years, the total could reach approximately $2.85 million, thanks to the...

A multi-million-dollar investment towards Black farmers is underway. As AFROTECH™ previously reported, the Black Farmer Fund, created by Karen Washington and Olivia Watkins, raised $11 million in September 2023 to support Black-owned agricultural systems through wealth-building opportunities. Since then, the New York-based nonprofit has reached its target goal in a second fund, which will deploy $20 million in capital to improve the Black food system, a press release states . It will specifically target food businesses in the Northeast region and provide support in the form of “low-interest loans and gifts.” The intention is for the awarded businesses to enable Black growers to strengthen their presence in the market and gain greater authority in the supply chain. This is timely when considering Black farmers have been faced with various challenges throughout the decades, which includes discrimination that has led to the denial of low-interest loans, grants, and further assistance,...

Phrases like “Home is where the heart is” or “There’s no place like home” are common ways to describe a person’s connection to a place based on fond memories and comfort. But for those with a robust real estate portfolio, home can be wherever their investment dollars lead them. Naomi Campbell is an example of the latter. Naomi Campbell Is Multi-Dimensional Campbell, the British supermodel perhaps best known for her signature runway walk and fashion style, has invested in several global properties, adding to her business diversity. In 2024, Campbell was honored at London’s Victoria and Albert Museum with a first-of-its-kind exhibit — Naomi: in Fashion — that opened June 22, 2024, and runs through April 6, 2025. The exhibit traces her 40-year journey from her childhood days as a dancer to the pinnacle of her modeling career in the 1990s. As MSN reported, the exhibit features her signature looks and career-defining moments. This exhibit not only celebrates Campbell and her fellow Black...

AFROTECH™ Executive is back on the road for 2024! Last year, the multi-city series made stops in Seattle, WA; Washington, DC; and Brooklyn, NY. The discussions led by tech leaders and founders ranged from finance and fintech to artificial intelligence (AI). Moreover, the likes of Starbucks CEO Laxman Narasimhan, Fearless Fund Co-Founder and CEO Arian Simone, and Esusu Co-Founder and Co-CEO Wemimo Abbey were in the room for AFROTECH™ Executive. As previously shared by AFROTECH™, in 2023, for the closing event in Brooklyn, NY, the fireside chats focused on the critical role of corporate responsibility in addressing the wealth gap and the impact that fintech has in creating new avenues for wealth-building and financial inclusion. “One thing that I really took away is that these speakers are all very authentic and just made me feel very welcomed and comfortable to be in this space,” first-time attendee Annellyse Munroe shared at the time. “And they gave us real tangible tips to be...