Black Billionaires

[BusinessApe1906]

Brothers, friends, guests, whoever...

I have to ask the question I KNOW is being asked on every college campus in America. The question I was hearing when I came through in 1997; "what good do your organizations do, today?"

I towed the company line, folks. Spit the Alpha initiatives like I was reciting history. Involved myself in student government, social change, and economic reform(ish) activities. I attended Alpha U. in Baltimore to become the best Alpha I could possibly be; and learned how from the "experts" in Alphadom.

Oprah is the only bon-a-fide net worth billionaire in Black America. Blacks make up 12% of the richest nation on earth (that's 36 million people), but can only boast to have one of the world's billionaires?

Not one Alpha on that list. Closest we came was Bro. Johnson and I don't know if he gave back to Theta or not. But I don't see a gang of businesses springing up in Alpha part of Chicago. First of all, servants of all, we shall transcend all? What the hell are we transcending?

I understand that external variables play a part. The slave mind, disproportionate funding for public education, disproportionate funding for economic growth, social injustice and mistreatment, etc. etc. and how those variables have the African American equation slanted sharply toward STUCK; but Alpha is supposed to understand better. Where are the Skull and Bones type of endowments from successful brothers to the next generation of success in Alpha? Are there any TRULY successful brothers anymore?

When do we start financing one another's business ideas so we can create the millionaire to billionaire cycle instead of the Apes vs. Sphinxmen stepshow champion cycle? We seem to live off the laurels of the past and not focus on the building of our future.

Let me know what y'all think!

[The Cushite]

I can see you are a little frustrated by the lack of capital being simply given out to brothers for investment. But honestly, is that the goal of Alpha, and is that what you were looking for when you joined? I, for one, think that the work the Alpha does in our local communities to help the truly disadvantaged is more important that venture capitalism from a few wealthy brothers. If your business ideas are so profitable, I'm sure that there are many venture captilatists on Wall Street that would love to help you out.

Blackwatch!!!!!!

[BusinessApe1906]

it should be. What we've done, in the community, in past years was honorable, noble at best. Was it progressive? From a benchmarking perspective, maybe? From a "what makes the world go round" perspective, I think it was probably counterproductive. That's just my opinion.

I joined the Frat for various reasons. I was under the impression that the Frat would support all of them. In fact, from what I saw (success and money) I just "knew" it would. Misread it.

At this point, from what I see you're saying, if a brother is looking to forward a specific social agenda, he should look onward and upward. If a brother is looking for venture capital and/or angel investing, he should seek monies outside the Frat. Isn't the Frat one lawsuit from broke itself? Wouldn't it behoove Alpha to be a little more capitalistically inclined?

Anyway, I guess if you're right, then I was under the wrong impression of the Frat and all it had to offer. But since my Alpha opinion is as "right" as any other duly made member's, I'll continue to go on record with "the social agenda Alpha is on, has worn out its use (mostly) but since most in the Frat still find it somewhat necessary; we would probably be better served to create a more diverse base of initiatives including some financial ones."

[darling1]

in a class that i took 2 years back, i read an article about blacks and philanthropy. basically it discussed how the average person has enough to give to some philanthropic arm. the avg. man represents more wealth than the small percentage of folks who are millionaires/billionaires.

there are ways to do this. you can bequeath it in your will, set aside money every month; budgeting a certain percent of your monthly income to a favorite charity, giving through your job.

there are so many of us who are illiterate when it comes to handling money. we are more powerful than we realize.

i cant speak on your org. or your frustrations with the direction. but i am a firm believer that you can make a difference no matter how small.

Originally posted by BusinessApe1906
Brothers, friends, guests, whoever...

I have to ask the question I KNOW is being asked on every college campus in America. The question I was hearing when I came through in 1997; "what good do your organizations do, today?"

I towed the company line, folks. Spit the Alpha initiatives like I was reciting history. Involved myself in student government, social change, and economic reform(ish) activities. I attended Alpha U. in Baltimore to become the best Alpha I could possibly be; and learned how from the "experts" in Alphadom.

Oprah is the only bon-a-fide net worth billionaire in Black America. Blacks make up 12% of the richest nation on earth (that's 36 million people), but can only boast to have one of the world's billionaires?

Not one Alpha on that list. Closest we came was Bro. Johnson and I don't know if he gave back to Theta or not. But I don't see a gang of businesses springing up in Alpha part of Chicago. First of all, servants of all, we shall transcend all? What the hell are we transcending?

I understand that external variables play a part. The slave mind, disproportionate funding for public education, disproportionate funding for economic growth, social injustice and mistreatment, etc. etc. and how those variables have the African American equation slanted sharply toward STUCK; but Alpha is supposed to understand better. Where are the Skull and Bones type of endowments from successful brothers to the next generation of success in Alpha? Are there any TRULY successful brothers anymore?

When do we start financing one another's business ideas so we can create the millionaire to billionaire cycle instead of the Apes vs. Sphinxmen stepshow champion cycle? We seem to live off the laurels of the past and not focus on the building of our future.

Let me know what y'all think!

[The Cushite]

Originally posted by BusinessApe1906
it should be. What we've done, in the community, in past years was honorable, noble at best. Was it progressive? From a benchmarking perspective, maybe? From a "what makes the world go round" perspective, I think it was probably counterproductive. That's just my opinion.


... Wouldn't it behoove Alpha to be a little more capitalistically inclined?

...I'll continue to go on record with "the social agenda Alpha is on, has worn out its use (mostly) but since most in the Frat still find it somewhat necessary; we would probably be better served to create a more diverse base of initiatives including some financial ones."

Very interesting perspectives. A few questions,

1. What exactly do you mean by a "what it takes to make the world go round" perspective? are you insinuating that things like Voting rights, education, and health awareness aren't as intergral to the uplift of humanity as economic/ wealth development? (By the way, the frat does sponsor a semi-annual economic development conference, keep your ears open for it).

2. What about the legal ramifications of the non-profit status of many local chapters if they were to enter into venture capitalism?To be more capitalistically inclined would go against the "non-profit status" that many of the chapters have worked hard to establish to help with fund-raising efforts in local communities. It would be illegal to take those funds and enter into capital investment for profit. So it would be hard to, as a frat, enter into profit making enterprises (though individual brothers could do so at anytime, with anyone, but in official frat involvment could be detrimental).

3. If profit becomes the goal, what then of the non-profitable initiatives of the frat? The goal of uplift most times is non profitable. If brothers are solely motivatied by profit, they will find that many of the initiatives associated with the Jewels' philosophy of uplift are wanting. Though freedom is not free, the freedom fight calls for people to be willing to sacrifice time, talent, and treasure in order to see the desired results, which, most of the time isn't profitable.

Now, does this mean that brothers should be fiscally ignorant? Not at all, we should conduct Alpha business with a keen sense of fiscal responsibility and shrewdness. But, the overall goal of Alpha should not be fiscal prosperity, but uplift and brotherhood with fiscal soundness.

Blackwatch!!!!!!

[Professor]

this is good discussion - i'm learing - please keep posting.

[darling1]

there has been a long time debate discussion whether nonprofit organizations should incorporate for-profit ideals into their daily practices. in my opinion, it is a necessity. for some, non-profit means not accountable and that is simply not true.

it is possible for any np org. to seek out venture capital as long as they are doing so to benefit a specific community. that community amongst other things will determine the 501 (c) status. but they must clearly state what their plans are and have the appropriate documentation to back it up.

with our governmental ebbs and flows, it is imperative for nonprofits to incorporate innovative strategies to raise funds and provide the essential resources to effectively and efficiently serve their communities. no longer can we expect the government or even big business to step in to help.

also, existing nonprofits need to simply do their jobs more efficiently. invest in a proper accountant, file your taxes on time yearly and keep up to date with changes. know the appropriate fundraising strategies so that you raising funds for the organization and not for personal gain. some nonprofits have managed to squeek by and not properly document their status. that is simply unacceptable.

[BusinessApe1906]

Originally posted by darling1
in a class that i took 2 years back, i read an article about blacks and philanthropy. basically it discussed how the average person has enough to give to some philanthropic arm. the avg. man represents more wealth than the small percentage of folks who are millionaires/billionaires.

there are ways to do this. you can bequeath it in your will, set aside money every month; budgeting a certain percent of your monthly income to a favorite charity, giving through your job.

there are so many of us who are illiterate when it comes to handling money. we are more powerful than we realize.

i cant speak on your org. or your frustrations with the direction. but i am a firm believer that you can make a difference no matter how small.

Any wealth document I'd ever researched shows the top 10% owning 70% of the wealth. What's more alarming is that the top 1% owns almost 40% of the wealth.

http://www.therationalradical.com/ds...stribution.htm

There is a slight variance in another study I saw:

"These data suggest that wealth is concentrated in the hands of a small number of families. The wealthiest 1 percent of households owns roughly 33.4% of the nation's net worth, the top 10% of households owns over 71%, and the bottom 40% of households owns less than 1%."

10 out of every 100 folk own 70 out of every 100 dollars and what's more frightening is 1/4 of the black population is officially in poverty and 2/3 of the remainder are just outside the poverty line. We are effectively doing the worst of the worst. What's more is these figures are based on averages. The few entertainers and athletes making millions are pulling the averages unrealistically up. So there are probably, in effect, more black folk living in poverty than these numbers reflect...

Point is, how do Blacks produce the least, yet consume (by percentage of the population) the most? What kind of loop is that? We know how it was created. I contend we destroy it by wealth building coincided by voting, teaching and staying OFF CAMERA!

[BusinessApe1906]

Originally posted by The Cushite
Very interesting perspectives. A few questions,

1. What exactly do you mean by a "what it takes to make the world go round" perspective? are you insinuating that things like Voting rights, education, and health awareness aren't as intergral to the uplift of humanity as economic/ wealth development? (By the way, the frat does sponsor a semi-annual economic development conference, keep your ears open for it).

2. What about the legal ramifications of the non-profit status of many local chapters if they were to enter into venture capitalism?To be more capitalistically inclined would go against the "non-profit status" that many of the chapters have worked hard to establish to help with fund-raising efforts in local communities. It would be illegal to take those funds and enter into capital investment for profit. So it would be hard to, as a frat, enter into profit making enterprises (though individual brothers could do so at anytime, with anyone, but in official frat involvment could be detrimental).

3. If profit becomes the goal, what then of the non-profitable initiatives of the frat? The goal of uplift most times is non profitable. If brothers are solely motivatied by profit, they will find that many of the initiatives associated with the Jewels' philosophy of uplift are wanting. Though freedom is not free, the freedom fight calls for people to be willing to sacrifice time, talent, and treasure in order to see the desired results, which, most of the time isn't profitable.

Now, does this mean that brothers should be fiscally ignorant? Not at all, we should conduct Alpha business with a keen sense of fiscal responsibility and shrewdness. But, the overall goal of Alpha should not be fiscal prosperity, but uplift and brotherhood with fiscal soundness.

Blackwatch!!!!!!

Hey Frat:

I was aware of the economic development seminar the Frat hosted a few years ago in the Bahamas (I believe). I am also aware the frat was advertising franchise opportunites for Golden Bird Chicken (or Church's, not sure). All forward steps; but not quite was I was getting at. And, wealth have these initiatives produced?

I'm not insinuating voting rights, education, and health awareness aren't as integral to the uplift of humanity as economic/ wealth development. I think I'm just flat saying it at this point. Again, as I mentioned in my opening message. These things have value, they were a stepping stone towards, I suppose, the Black Power that manifested itself into the “begging game.” I don't believe that was the most beneficial road to take. In all of the concept initiatives, Alpha was ASKING for something. I don't like that approach. Even in Project Alpha and Go To High School Go To College, I think our message is antiquated.

I’m off track. To my point. I don't like the idea of delivering a business plan to venture capitalists or angel investment firms if there are alternative money sources. I am of the belief that you "breed" wealth. Alpha can breed wealth and success similar to Skull and Bones, etc.

I am not even talking about doing it under the name of Alpha Phi Alpha. Keep the non prof doing what it does. I'm talking simply about success breeding success. WE DO NOT DO THAT!

Having said that. If you study what the Japanese did after the bombing, what the Jews in Germany did after Nazism; they did not ASK. They simply put their heads down and went to work. They did and continue to build wealth upon wealth.

When have Black folk done that? Without superficial advertising , not begging pardons, not advertising the building of public alliances.... Just building wealth on wealth through Alpha means.

As far as "from a what makes the world go round perspective..." What makes the world go round in a capitalistic environment?

My question to you: what is "But, the overall goal of Alpha should not be fiscal prosperity, but uplift and brotherhood with fiscal soundness."

What does that look like in the grand scheme of things?

[darling1]

i agree with you!!

however....you gon' make me have to pull out my books..lol,

for those of us not in that small percentile, it about perception and realizing the kind of wealth you do have. i am sure that if you poll about 10 people almost half will not have in the budget money set aside for charity. over half will probably have distorted views on money and if they have children, have probably passed on their negative habits to them. it is also about prioritizing. it ticks me off everytime i see a mother in a sneaker store shelling out big bucks for their teenager. i live in an apartment and do you know that there are people with BMW'S. that's just ignorant. our priorities are just off. we don't know how to save; we dont take the time to plan for the future.

i think the way you increase wealth is by teaching that the importance of legacy. also, by teaching that with any amount of money you can give back to your community. money is power. im not sure if your chapter does any economic empowerment with younger children, you can always start there. kids are like sponges and if they learn the basics on what they can do with $5, it can perhaps change their lives.

i happened to catch dr. phil while my daughter was asleep and he had a woman who created a piggy bank with 3 slots, one for saving, one for charity and the last was for spending (i think). its about starting early. im not saying forget about our peers, but i haven't seen or heard anything that will get the average joe to rethink their money views except for something drastic.

Originally posted by BusinessApe1906
Any wealth document I'd ever researched shows the top 10% owning 70% of the wealth. What's more alarming is that the top 1% owns almost 40% of the wealth.

http://www.therationalradical.com/ds...stribution.htm

There is a slight variance in another study I saw:

"These data suggest that wealth is concentrated in the hands of a small number of families. The wealthiest 1 percent of households owns roughly 33.4% of the nation's net worth, the top 10% of households owns over 71%, and the bottom 40% of households owns less than 1%."

10 out of every 100 folk own 70 out of every 100 dollars and what's more frightning (1/4 of the black population is officially in poverty and 2/3 of the remainder are just outside the poverty line), we are doing the worst of the worst. What's more than that is this is based on averages. The few entertainers and athletes we have making millions are pulling the averages up. So there are probably, really, more black folk living in poverty than the numbers show...

Point is, how do produce the least, yet consume (by percentage of the population) the most? What kind of loop is that?

[BusinessApe1906]

Originally posted by darling1
i agree with you!!

however....you gon' make me have to pull out my books..lol,

for those of us not in that small percentile, it about perception and realizing the kind of wealth you do have. i am sure that if you poll about 10 people almost half will not have in the budget money set aside for charity. over half will probably have distorted views on money and if they have children, have probably passed on their negative habits to them. it is also about prioritizing. it ticks me off everytime i see a mother in a sneaker store shelling out big bucks for their teenager. i live in an apartment and do you know that there are people with BMW'S. that's just ignorant. our priorities are just off. we don't know how to save; we dont take the time to plan for the future.

i think the way you increase wealth is by teaching that the importance of legacy. also, by teaching that with any amount of money you can give back to your community. money is power. im not sure if your chapter does any economic empowerment with younger children, you can always start there. kids are like sponges and if they learn the basics on what they can do with $5, it can perhaps change their lives.

i happened to catch dr. phil while my daughter was asleep and he had a woman who created a piggy bank with 3 slots, one for saving, one for charity and the last was for spending (i think). its about starting early. im not saying forget about our peers, but i haven't seen or heard anything that will get the average joe to rethink their money views except for something drastic.

I agree with you 100%. I think what you're talking about supports the wealth mentallity. We have to produce wealth, create more wealth as a result of that production and support wealth creation with the mentallity you're talking about instilling.

There are Black millionaires not creating multiple streams of income using other human resources; contrasted by Blacks who would probably be millionaires if endowed with opportunity. Look at the top 400 richest in the world. Over 75% were not grass roots wealth. They built by either endowment or inheritence. Why don't we just follow the blue print?

[darling1]

im not sure if many of our millionaires are so because of inheritance..but you probably are correct. im thinking of oprah, russell simmons and the late reginald lewis. im not sure about lewis, but i know for a fact oprah and simmons are self-made.

[BusinessApe1906]

Originally posted by darling1
im not sure if many of our millionaires are so because of inheritance..but you probably are correct. im thinking of oprah, russell simmons and the late reginald lewis. im not sure about lewis, but i know for a fact oprah and simmons are self-made.

That, my sista, sums up my point. 75% of the richest are NOT self made. 75% followed the blue print. 100% of ours did not (well, there are some that PROBABLY have). We should begin to follow the blue print. Oprah, Michael Jordan, Bill Cosby, etc... If they can build a foundation, hand pick driven individuals and grant funds (monies set aside for wealth building - similar to what those "secret" organizations do), I think we'll begin to see a positive snowball effect in our community. Wealth building wealth.

All those orgs do is create wealth and then set aside 10% (or a fixed percentage) of their earnings to endow to their hand picked members. And the cycle goes on until you move from 10% of 1 million to 10% of 10 billion, etc. Seems like a simple wealth building strategy to me.

Ask Dubya, he's admitted benefitting from it.

[darling1]

i see what you are saying. you are correct. if you or i start from our families and them with people that we consider friends, then to our organizational affiliations, it is possible for us to change how we view money, thus changing how we give back. we wont sit back while the cosbys and oprahs of the world do the work for us.