A first-of-its-kind initiative is set to support the advancement of Black wealth in Minneapolis-St. Paul, MN.

When we talk about wealth, sometimes it can feel like Black people are consistently excluded from the conversation. Thanks to systemic and systematic discriminatory practices, countless Black Americans are often shut out of the surest path to personal wealth — property ownership. And often, when Black wealth is touted, it’s almost exclusively limited to celebrities from actors and directors like Tyler Perry to media moguls like Oprah Winfrey, and of course countless entertainers and athletes . More importantly, when the conversation turns to billionaires , the number of Black people — male or female — that tops this list shrinks even further. But Black wealth isn’t limited to people that travel in celebrity circles. There are several Black entrepreneurs that are influencing the U.S. economy that have also accumulated quite a nest egg and reputation. In particular, the story behind the richest Black man in America is an inspiring one that shows you that our community is amazing...

There is a saying regarding the fine arts that suggests art often imitates life. And if anyone ever took this phrase seriously, it is our favorite self-proclaimed awkward Black girl, Issa Rae. As the creator of the YouTube series “The Misadventures of an Awkward Black Girl” and the cult-classic “Insecure,” Rae has been given the world a loosely based look into her life. Her characters are relatable and accurately depict the cohort of millennials she represents. What’s more, they bring the very much-needed comedic relief necessary for surviving adulthood. With an array of awards and honors under her belt, it is safe to say that Issa Rae is that girl! But before the fame and the large platform, one of the most relatable qualities about Rae was that she worked hard and got it out the mud like many future, current, and aspiring creatives. So much so that when she once lived in Harlem, New York, she went six months without paying rent and was in for the surprise of her life when the...

AfroTech Executive is still making its rounds, continuing to fuel leaders with the resources needed to not only succeed but smash ceilings, move the needle, and make room for generations to come. Before it makes its way to Los Angeles, CA, it stopped in D.C. for a sold-out event, where the room was filled with corporate executives, founders, and investors in an effort to cultivate connections and also build community. What’s more, spotlighting opportunities to cultivate Black wealth was the main course of the day on May 19, 2022, where panels included The Power Of The Black Dollar and Cultivating Capital In A Black Tomorrow. Plus, we ended the night with something sweet as DJ 5’9 set the vibes for a Networking Reception. Photo Credit: Jemal Countess

Investment firms are a necessary part of the business world. But did you know that these celebrities helm up their own? From a tennis legend to several rappers, these twelve celebs are redefining what the names and faces of investment firms look like. No longer tied to “old-money white wealth” like Goldman Sachs, JPMorgan Chase, and Bank Of New York Mellon, these celebrities have proven that investments made back into the Black community pay off in much larger dividends…and cultivate goodwill in the long run. For example, Karan Wadhera — the managing partner for Snoop Dogg’s Casa Verde — even left his position in the “traditional” investment firm world to work with the legendary Doggfather on his venture. He told TechCrunch that he was driven to do so to shift people’s focus onto things that weren’t getting enough attention at the time (in Casa Verde’s case, Black ownership and cannabis investment). “We have a decent-size checkbook and a fairly high profile in this space, so we see...

Some of the world’s biggest athletes have climbed their way to the top, not just off their stellar abilities on the court, but their prowess in the business world as well. The secret to athletes keeping their legacy going is making money moves outside of their sports careers. Nowadays, athletes having a business reputation is just as important as having a championship title to their name. Smart investments, sponsorships and partnerships go a long way in securing the bag long after their playing days are over. Between money from their sports salaries, fame as elite athletes and their many business ventures, today’s sports figures are all about stretching their wealth to build major business empires. In case you didn’t know, here are some former and current sports stars who have defied the odds to make a fortune beyond sports:

On average, Black workers are already earning $12,000 less than the median wage in the U.S. , and there are so many other barriers in their way in regards to diversity, opportunity and stability in the workplace. Jesse Walton, SVP of the Walton Group and a certified private wealth advisor at Morgan Stanley, has been fighting institutional inequities for over two decades. Walton is extremely passionate about helping  position his clients to create generational wealth and those building blocks start with financial literacy, long-term investing and saving, he says. “The biggest opportunity this country gives you is freedom and the fact that you can participate in the corporate structure,” Walton told AfroTech. “You can grow your wealth if you save and participate in the growth of this economy and you do that through stock ownership.” Here’s more of Walton’s thoughts on the racial wealth gap , how the Black community can close it, and more. Editorial Note: This piece has been edited for...

Generation Xers are emerging from the pandemic more wealthy and economically stable compared to other generations, specifically millennials. Reuters first reported this along with data collected by the U.S. Federal Reserve showing that members of Generation X saw their wealth jump more during Donald Trump’s presidential term and through the coronavirus pandemic. Generation Xers can be defined as those currently between the ages of 40 and 55; they come after the Baby Boomer generation, and right before Generation Y, also known as Millennials . Generation X hit a major turning point last year when its share of wealth, at 26.9 percent, passed its share of households which is 26.8 percent. But what does this mean? This means that Generation X’s wealth has surpassed the amount of households they account for in our population. Reuters coined Generation X as the ascendant generation because of this. When Trump took over as president in 2017, Generation Xers accounted for 34.6 million...