Why is black wealth so concentrated in sports & entertainment?

[BlackJesus]

For the black billionaires in the US.
66% made their money in sports or entertainment.

Of White US billionaires less than 1% did so.

That is a huge difference. Its litterally concentrated in one field. I find this kind of interesting

I'm sure thecoli has equally interesting answers

 

[philmonroe]

For the black billionaires in the US.
66% made their money in sports or entertainment.

Of White US billionaires less than 1% did so.

That is a huge difference. Its litterally concentrated in one field. I find this kind of interesting

I'm sure thecoli has equally interesting answers

Why does it matter?

 

[get these nets]

For the black billionaires in the US.
66% made their money in sports or entertainment.

Of White US billionaires less than 1% did so.

That is a huge difference. Its litterally concentrated in one field. I find this kind of interesting

I'm sure thecoli has equally interesting answers

not enough of a sample size

there are maybe 10 Black billionaires in America

and by entertainment, do you mean OWNING media networks like Bob Johnson and Oprah?

That's business acumen, not singing and dancing.

 

[Mowgli]

Remember most white families are passing down money to give their kids the wiggle room to start businesses whereas black families aren't passing down shyt and can't while also having trouble creating capital out of thin air with the expenses of life draining their pockets.

Why? Slavery, Jim Crow, Redlining, Mass incarceration, not enough federal infrastructure dollars, not enough business loan dollars, private sector racism.

 

[BlackJesus]

not enough of a sample size

there are maybe 10 Black billionaires in America

and by entertainment, do you mean OWNING media networks like Bob Johnson and Oprah?

That's business acumen, not singing and dancing.

True. But when there were less than 10 white billionaires in this country they were not primarily concentrated in entertainment.

My theory is: lack of capital. Starting a business with higher margins for blacks is a neccessity not a luxury as we don't have access to borrowing or they give us higher interest rates.

 

[BlackJesus]

Why does it matter?

Its kind of a glaring difference that makes you wonder

 

[Collateral]

Too many “good ol boy” industries, like Silicon Valley.

 

[chkmeout]

 

[Surreal]

Run nikka run ..until them doors finally come down

 

[the cool]

When whites like Trout sign 400 mil contracts no one cares. When blacks sign big contracts one bad game and everyone yelling overpaid woat contract

 

[datnigDASTARDLY]

I always assumed it’s because white peoples can’t hide behind our superior athleticism and music

they can literally hide and obfuscate anything else systemically.

 

[Ya' Cousin Cleon]

Suit and Tie racism

 

[philmonroe]

Its kind of a glaring difference that makes you wonder

Doesn't make me wonder at all. Maybe more cats are interested in that that's why. Cats make it seem like their reality in most cases don't bear this out. I know you know more cats that wanted to play sports than run a business. That's probably the same regardless of race to be honest. Maybe if you have someone in that field already cats might have a different pov but in general I just think most aren't interested in that until later on in life at least speaking in general.

 

[Renegade47]

racism?

 

[BrownBunny]

One one hand, it’s fukked and I’d love to see more Black people in STEM and Business. More Black kids should dream of being a Doctor, Lawyer, etc. instead of athletes and entertainers. Black celebs shouldn’t be seen as the leaders of our community.

On the other hand, even the Ancient Egyptians, Greeks, etc. understood that the Arts were just as important as Mathematics, Science, Philosophy, etc.

No other group has done more to shape American culture in the last century and I’m proud of that