Category Archives: money

Ervin Johnson Investment Fund

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Over the past 20 years, however, Johnson has proven he has the acumen for more than hoops.

Beverly Hills, Calif.-based Magic Johnson Enterprises now owns or operates gyms, Starbucks coffee shops, Burger Kings, movie theaters and other businesses in 85 cities across 21 states. His Canyon-Johnson Investment Fund has been behind nearly $4 billion in urban revitalization projects that resulted in the creation of 4.5 million square feet of retail and commercial space.

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The 40 most powerful African Americans in business-and how they shaped our world

When Black Enterprise published its first issue four decades ago, the era was marked by promise but not prosperity.

The economic evolution of the African American business class had not yet begun. A year earlier, President Richard Nixon had signed Executive Order 11458, directing the Commerce Department to coordinate the federal government’s programs “which affect or may contribute to the establishment, preservation, and strengthening of minority business enterprise.” The directive gave birth to federal set-aside programs and public financing. The dawning of a new business era always begins with the audacious and the resolute—relentless innovators and industrial disruptors who realized that industries, people, or nations could not advance by embracing the status quo.

A phalanx of entrepreneurs and executives knew that for African Americans to progress, less than full participation in the business mainstream could not be an option. They fought the odds, suffered setbacks, regrouped, and eventually emerged victorious. Through each decade they changed the paradigm—whether doing so required the political activism of the 1970s, financial engineering of the 1980s, adoption of new technology in the 1990s, or the creation of flexible business models over the past decade. Whether they conducted business from their own offices or the executive suite, their professional excellence, deal-making prowess, and unwavering advocacy converted promise into channels of prosperity and levers of power.

The 40 men and women on the following pages could easily be considered trailblazers. They are, however, more than pioneers who withstood the elements—institutional racism, resistance from the business establishment, and lack of resources—to plant a flag on their own patch of territory. They’re titans: bold leaders who shattered conventional modes of commerce. Because of their contributions over the past 40 years, the world of business has been transformed forever.
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Bureau of African Affairs

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Assistant Secretary Linda Thomas-Greenfield leads the Department of State’s Bureau of African Affairs, the division in the Department focused on the development and management of U.S. policy concerning the continent.

There are four pillars that serve as the foundation of U.S. policy toward Africa.

1) Strengthening Democratic Institutions;
2) Supporting African economic growth and development;
3) Advancing Peace and Security;
4) Promoting Opportunity and Development.

Read the full description of the pillars here: U.S. Strategy Toward Sub-Saharan Africa.

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15-Year Old Starts Tech Company, He’s Now a Millionaire

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Jaylen Bledsoe is a one-of-kind superstar. The 15-year old sophomore started his own tech company a few years ago, and has found entrepreneurship to be his calling. As a result, he is his own man, and a millionaire because of it.

Jaylen says that he started his firm when he was 12-years old, and plans to attend Harvard after he finishes high school. Jaylen’s company, Bledsoe Technologies, is now worth an estimated $3.5 million. This means that if he manages his wealth in the right way, he will be set for life.

Jaylen doesn’t spend his time memorizing lyrics from the rapper “2Chainz,” smoking weed or chasing girls on Saturday nights. Instead, he spends his time chasing paper, pursuing his dreams and positioning himself for a truly empowered existence. Personally, I’m proud of him. I can also see that he is the beneficiary of good parents and role models. Our kids are like products off an assembly line: The outcomes we see in kids Jaylen’s age are direct products of what they’ve been exposed to on a daily basis. It’s just as easy to manufacture a businessman as it is to manufacture a thug.

Jaylen’s company does web design and other forms of IT consulting for companies located mainly in the Midwest. He actually reminds me of another young person I met recently, Emerson Spartz, the founder of Spartz Media. Spartz is not African American, but both of these young men serve as powerful templates for what our boys can become if given the right guidance.

When I spoke with Emerson, we both agreed that around the age of 12, we probably had ADHD. But we also both agreed that, while ADHD gets you in trouble in school, it can actually be beneficial to have a mind that races from one good idea to the next. Personally, my short attention span caused me to struggle in school until I gained my footing in college. High school felt like prison to me, and my horrible grades reflected that sentiment.

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Ninon Marapachi, 32: Dar’s own hedge fund wunderkind

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Ninon Marapachi is a Tanzanian trailblazer whose career in finance is an inspiring story.

At only 32, she is the managing director of a $20 billion (Sh32 trillion) Hedge Fund called Merrill Lynch of the Bank of America-Global Wealth and Investment Management, in New York.

She manages a 10-member team that is charged with sourcing, structuring, negotiating and managing the Fund that is nearly twice Tanzania’s budget for the current financial year.

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14 year old investor with over $50,000 in portfolio

Damon Williams turned his passion for athletic shoes into an stock portfolio worth over $50,000. And get this… he’s only 14 years old.

This video is a courtesy of PBS show Money Track. Check out their website at http://www.moneytrack.org.

education,schools,black youth,african americans,entertainment, family,kids,wall street,stocks,bonds,tech,technology,videos,students,college,youtube,

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75 Most Powerful Blacks on Wall Street

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James Reynolds, CEO of Loop Capital Markets L.L.C. (No. 1 in taxable securities with $29.03 billion in lead issues and No. 2 in tax-exempt securities with $2.83 billion in lead issues on the BE Investment Banks list) hired nearly 25 people who had been downsized from bond departments at several large financial institutions, such as Bank of America and Goldman Sachs, that exited those lines of business.

This same staff helped Loop Capital service a broader pool of bond buyers; their expertise was critical to the firm’s landing a significant piece of business—a structured underwriting of nearly $1 billion in general obligation refunding bonds for New York City.

Black in America: The New Promised Land – Silicon Valley

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Silicon Valley’s startup scene is mostly young, male and white.

In response, the NewMe incubator brought 8 black entrepreneurs together for a two-month immersion in San Francisco.

CNN’s Black in America 4 and CNNMoney will track their journey.

Here are their stories, as told to CNNMoney’s Julianne Pepitone.

FULL STORY

The Wealth Choice: Success Secrets of Black Millionaires

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It’s no secret that these hard times have been even harder for the Black community.
Approximately 35 percent of African Americans had no measurable assets in 2009, and 24 percent of these same households had only a motor vehicle.

Dennis Kimbro, observing how the weight of the continuing housing and credit crises disproportionately impacts the African-American community, takes a sharp look at a carefully cultivated group of individuals who’ve scaled the heights of success and how others can emulate them.

Based on a seven year study of 1,000 of the wealthiest African Americans, The Wealth Choice offers a trove of sound and surprising advice about climbing the economic ladder, even when the odds seem stacked against you.

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Readers will learn about how business leaders, entrepreneurs, and celebrities like Bob Johnson, Spike Lee, L. A. Reid, Herman Cain, T. D. Jakes and Tyrese Gibson found their paths to wealth; what they did or didn’t learn about money early on; what they had to sacrifice to get to the top; and the role of discipline in managing their success.Read a few pages..

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Mercedes-Benz ([mɛʁˈtseːdəs ˈbɛnts]) is a multinational division of the German manufacturer Daimler AG, and the brand is used for luxury automobiles, buses, coaches, and trucks. Mercedes-Benz is headquartered in Stuttgart, Baden-Württemberg, Germany.

The name first appeared in 1926 under Daimler-Benz but traces its origins to Daimler-Motoren-Gesellschaft’s 1901 Mercedes and to Karl Benz’s 1886 Benz Patent Motorwagen, which is widely regarded as the first automobile.

Mercedes-Benz’s slogan is “Das Beste oder nichts” (English: “The best or nothing”).

Mercedes-Benz is part of the “German Big 3” luxury automakers, along with Audi and BMW, which are the three best selling luxury automakers in the world.

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Tiger Woods

Net worth: $600 million

Source of wealth: Golf, endorsements

Residence: Orlando, Fla.

Age: 33

Golf prodigy showed off his putting skills on The Mike Douglas Show at age 2, has dominated the links ever since. Left Stanford University after two years at age 20 in 1996 to turn pro. Has since won 66 PGA tournaments, including 14 major championships.

Now hunting Jack Nicklaus’ record of 18 major career wins. Named PGA Player of the Year nine times. Total career winnings: $84 million. Intensely marketable; annual on-course winnings represent less than 15% of his income.

Lucrative sponsorship contracts from Nike, Gatorade, Gillette, Accenture, AT&T and others earn him at least $100 million each year. Returned to competitive golf in February after rehabbing knee injury for eight months.

Dramatically won the Arnold Palmer Invitational by one shot a few weeks later. Rare comment in 1995 on his ethnic background: “The various media have portrayed me as African-American and Asian. I am both.”

Black Female Billionaire

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Isabel dos Santos, the oldest daughter of Angola’s longtime president, Jose Eduardo dos Santos, debuts on the Forbes list of the World’s Billionaires with a fortune estimated at a minimum of $2 billion.

She is Angola’s first billionaire and the richest woman in Africa.

Her first business, opened in 1997 when she was 24, was a restaurant called Miami Beach in Luanda, the Angolan capital.

Oprah-Winfrey

Oprah Winfrey

Net worth: $2.7 billion

Source of wealth: Harpo Productions

Residence: Chicago

Age: 55

The Oprah brand continues to hold its value despite the recession, as viewers tune in for money-saving tips, celebrity interviews and relationship advice.

Rural Mississippi native worked the television news circuit in Nashville, Tenn., and Baltimore, Md. Transformed faltering Chicago morning program into popular talk show.

Launched The Oprah Winfrey Show nationally in 1986; now airs in 144 countries, brings in 44 million U.S. viewers each week. Her Harpo Productions helped create the Dr. Phil and Rachael Ray shows; Dr. Oz show due out this fall.

Media matriarch planning to launch Oprah Winfrey Network early next year. Foundation recently donated to schools in Newark, N.J., and Atlanta.

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