makinitmag/blog/nw-7-reasons-hip-hop-has-no-billionaires Byron J. Brown Schvonne Mck Mckinney Take into account that of the nearly 1200 billionaires on the planet, only 9 are black, and outside of Oprah Winfrey, none are American or have built their fortunes on entertainment. One does not merely build a billion dollar net worth through hard work. Wealth at this level is the result of opportunity and strategic partnerships. But what happens when those opportunities and partnerships are denied or not offered to you because of your ethnicity or cultural background? Well… You spaz out on your friend Sway. Consider for a second that it was in fact destined for Kanye to transition into fashion becoming the next Ralph Lauren and hip-hop’s first billionaire, but the possibility was snuffed out by an industry that doesn’t respect blacks or hip hop culture. Nike will gladly let Ye design a shoe and use his brand to sell it for exorbitant prices, but it doesn’t deem him valuable enough to let him sit at the table and get a royalty on those sales. - See more at: makinitmag/blog/nw-7-reasons-hip-hop-has-no-billionaires#sthash.nOJdZB5D.dpuf
Posted on: Sun, 10 Aug 2014 20:05:12 +0000
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