In just about every immigrant community that came to the shores of the United states in the early part of the 20th century there was a belief that not only the individual but the community as a whole should work collectively to build wealth and pursue the American dream. The African American community has heretofore pursued wealth and the American dream not collectively but individually which has hindered the upward mobility of the group. Although the values of the United States and the capitalist mantra are that of individual rights and individual pursuits, the way of the dollar, the truth is however most immigrant communities whether Jewish, Irish, Italian or Korean pursued group wealth by means more resembling socialism. They Sharing in terms of means of grants and loans to each other shopping at each other’s businesses. African American consumption is in the billions, but little of this consumption is given to African American based businesses.
The combined salaries of the top 25 African American NBA players are over $300 million dollars. The combined salaries of the NBA All stars were close to $1 Billion dollars. Oprah Winfrey was just listed on the Forbes list of billionaires becoming the first African American woman to achieve this honor. BET founder and newest NBA owner Robert Johnson is reportedly worth over $2 Billion dollars. Entertainment moguls such as Russell Simmons, Sean “P.Diddy” Combs, and Master P assets combined are worth over $1 Billion dollars. Not to mention NFL players and that famous golfer Tiger Woods.
There are many foundations and organizations working for and within black communities funded by black athletes and entertainers and from careers of all types but there needs to be more of a centralized effort amongst these groups to fund college education, fund health care clinics, food banks, alcohol and drug rehab, job training and to provide low interest loans and start up grants for businesses in the African American community.
Individually African Americans will continue to grow and prosper but if a group mentality existed more would be doing allot better faster.