Wealth

 

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Wealth Gap Facts

Wealth Disparity

Chris Cuomo Touches on Justice, Wealth, and Health

The Cost of Being Black: 33 Facts About the Wealth Gap and Racial Economic Justice

We at Money talk a lot about the power of compound interest. It’s the magical way your savings builds up exponentially — or compounds — as you stash away cash and earn interest on your interest, year after year.

Net worth of White family is $170,000

Yale University

Net worth of Black family is $17,000

The black-white wealth gap is unchanged after half a century

Few Americans remember Greenwood, a once-prosperous African-American neighborhood in Tulsa, Oklahoma, that was known as Black Wall Street. In 1921 Dick Rowland, a black shoeshiner, was charged with attempting to rape a white lift-girl in a downtown office building. An incensed white mob gathered at the courthouse to lynch him, then proceeded to Greenwood for two days of rioting, looting, and murder.
City officials aided and abetted the violence. In the end, 35 blocks were destroyed, 10,000 black people were made homeless, and as many as 300 were killed. Residents reported airplanes flying overhead, dropping explosives. It was one of the worst incidents of racial violence since the civil war. Tens of millions of dollars in black wealth were destroyed or stolen. No compensation was awarded to either the victims or their descendants.

Hotel Ownership

(10 out of 54,200 are owned by African Americans as of 2019)

Ways to Close the gap

Smart Investments

(Vista Equity Partner)

Mutual funds

Annuities

Money Market

Assets to invest

Old Money 

(The Hilton’s, The Kennedy’s, The Rothchild’s)

Money amassed from 1619 – 1865 by slave owner from his or her plantation

Stimulus package ($1200)

Unemployment benefits ($600)

Amount withheld, based on number of dependents (W-2) is invested in 401K Contributions are matched by employers

Example of Returns

5 Year

10 Year

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A small $10 investment from each citizen will begin to turn the wheels of
Justice on all levels.

$10

$20

$50