The Trend of American Black Men Toward Creating and Maintaining Generational Wealth
The Black Community in WaterburyWaterbury has had a sizeable Black population dating back to the late 19th century when many African Americans migrated from the South to work in Waterbury's factories and brass mills. By the 1960s, Waterbury's Black community was concentrated in the Crownbrook, Willow/Plaza, and Brooklyn neighborhoods. Important civil rights leaders like Rev. James Stallworth fought against discrimination and segregation in housing, education and employment in Waterbury during this era.
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Population Growth:
Business Growth:
Education & Community:
While growth has occurred, the Black community in Waterbury still faces economic disparities and challenges characteristic of many urban centers. However, efforts are underway to foster more Black-owned business development and generational wealth-building in the city.
- In 1960, Black residents made up around 4% of Waterbury's total population.
- That percentage steadily increased over subsequent decades reaching 19.4% by 2010.
- The 2020 Census found Waterbury's Black population was 21.9%, or around 23,000 out of 107,000 total residents.
- This makes Waterbury's Black community one of the largest in Connecticut by percentage.
Business Growth:
- Exact historical data is limited, but Black entrepreneurship has grown significantly in recent decades in Waterbury.
- The Greater Waterbury Black Business Association was founded in 1984 to support Black-owned businesses.
- As of 2021, it had around 100 members representing a variety of industries and services.
- Notable Black-owned businesses in Waterbury include Paca Construction, The Black Diamond Grill, Detayled Designs, and Brandon & Lewis Realty.
- The city also houses several Black-owned beauty salons, barbershops, food trucks and professional services firms.
Education & Community:
- Waterbury has programs aimed at developing Black youth entrepreneurship like the YMCA's Entrepreneurial Training Program.
- Organizations like the Eta Xi Lambda Chapter of Alpha Phi Alpha provide scholarships and mentorship.
- Influential Black leaders and entrepreneurs from Waterbury include state legislator Larry Butler and former mayor Michael Jarjura.
While growth has occurred, the Black community in Waterbury still faces economic disparities and challenges characteristic of many urban centers. However, efforts are underway to foster more Black-owned business development and generational wealth-building in the city.
Black-Owned Businesses in Waterbury, Connecticut
The following businesses are identified at WaterburyLife.com as being Black-owned, and have been confirmed as being Black-owned businesses in Waterbury by Claude.ai:
For more information about the Black culture in Waterbury, go to Waterbury's Black American and (Black) African American History, Ethnicity, Culture, Resources, Faith, Opportunities, Leadership, Contributions, and Influence. Also, go to Waterbury's Black Owned Businesses page, or Waterbury's Black Influeners page. |
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- Barack Obama: The first African American President of the United States, serving from 2009 to 2017. Obama's presidency marked a historic moment in American politics and inspired millions of people, particularly within the Black community.
- Kamala Harris: Vice President of the United States, making history as the first woman, first Black woman, and first person of South Asian descent to hold this office. Prior to becoming Vice President, Harris served as a U.S. Senator from California.
- Al Sharpton: A civil rights activist, Baptist minister, and television/radio talk show host known for his work in addressing issues of racial injustice and police brutality. He is the founder of the National Action Network.
- Jesse Jackson: A civil rights leader, Baptist minister, and politician who played a significant role in the civil rights movement alongside Martin Luther King Jr. Jackson twice ran for the Democratic presidential nomination in the 1980s.
- Stacey Abrams: An American politician, lawyer, and voting rights activist. Abrams served in the Georgia House of Representatives from 2007 to 2017 and ran for governor of Georgia in 2018. She is widely credited with increasing voter turnout, particularly among minorities, in Georgia.
- Ta-Nehisi Coates: A prominent writer and journalist known for his works on race, culture, and social issues. Coates is the author of several acclaimed books, including "Between the World and Me" and "The Water Dancer."
- Alicia Garza, Patrisse Cullors, and Opal Tometi (Founders of Black Lives Matter): These three women co-founded the Black Lives Matter movement in response to the acquittal of Trayvon Martin's murderer in 2013. The movement has since grown into a global network advocating for racial justice and combating police violence.
- Tamika Mallory: A social justice advocate and organizer known for her work with the Women's March and other civil rights initiatives. Mallory is a prominent voice in the fight against police brutality and systemic racism.
- Van Jones: A political commentator, author, and lawyer who has been a vocal advocate for criminal justice reform and socioeconomic equality. Jones is the founder of several nonprofit organizations focused on environmental and social justice.
- Bryan Stevenson: A lawyer, social justice activist, and founder of the Equal Justice Initiative, which works to provide legal representation to individuals who have been wrongfully convicted or unfairly sentenced, particularly in cases involving racial bias.
These are just a few examples, and there are many more individuals who have made significant contributions to the Black community and the broader American society in the 21st century.
Successful Black Business Leaders
The 21st century has seen the rise of many successful Black business leaders who have made significant contributions to various industries. Here's a list of some prominent figures:
- Ursula Burns: Former CEO of Xerox Corporation, Burns made history as the first Black woman to lead a Fortune 500 company. She is recognized for her leadership in the technology sector and her advocacy for diversity and inclusion in corporate America.
- Kenneth Chenault: Former Chairman and CEO of American Express, Chenault is one of the most prominent figures in the financial services industry. He is known for his strategic vision and leadership during his tenure at American Express.
- Rosalind Brewer: CEO of Walgreens Boots Alliance, Brewer is one of the few Black women leading a Fortune 500 company. She has held executive positions at various corporations, including Starbucks and Walmart, and is recognized for her achievements in the retail and consumer goods sectors.
- Robert F. Smith: Founder, Chairman, and CEO of Vista Equity Partners, Smith is one of the wealthiest Black individuals in America. He is a prominent figure in the private equity industry and is known for his philanthropic efforts, including paying off the student loan debt of Morehouse College graduates.
- Mellody Hobson: Co-CEO and President of Ariel Investments, a leading investment management firm. Hobson is also a board member of several major corporations, including Starbucks and JPMorgan Chase, and is known for her advocacy for financial literacy and diversity in the financial services industry.
- John W. Thompson: Chairman of Microsoft Corporation, Thompson is a highly respected business leader in the technology sector. He has held executive positions at IBM and Symantec and is known for his expertise in cybersecurity and corporate governance.
- Don Thompson: Former CEO of McDonald's Corporation, Thompson is a seasoned executive in the fast-food industry. He led McDonald's through a period of significant growth and innovation during his tenure as CEO.
- Richelieu Dennis: Founder and former CEO of Sundial Brands, Dennis is a successful entrepreneur in the beauty and personal care industry. He is known for creating products specifically for people of color and for his commitment to empowering women entrepreneurs.
- Sheila Johnson: Co-founder of BET (Black Entertainment Television) and CEO of Salamander Hotels & Resorts, Johnson is a trailblazer in the media and hospitality industries. She is also an accomplished philanthropist and advocate for education and the arts.
- Tristan Walker: Founder and CEO of Walker & Company Brands, a consumer health and beauty products company. Walker is known for his entrepreneurial spirit and for creating innovative products for people of color.
These are just a few examples of successful Black business leaders in America in the 21st century, and there are many more individuals who have made significant contributions to the business world and society as a whole.
Bibliography
Books:
Academic Journals:
Organizations and Associations:
Websites and Online Resources:
Reports and Studies:
Documentaries and Films:
Podcasts and Audio:
Magazines and Publications:
Educational Programs and Courses:
Personal Finance Blogs and Influencers:
This bibliography covers a wide range of resources, including books, organizations, websites, podcasts, magazines, and educational programs focused on Black entrepreneurship, network marketing, generational wealth, and economic empowerment. These sources provide valuable insights, strategies, and practical guidance for individuals and communities striving to achieve financial success and create lasting legacies.
- "Black Fortunes: The Story of the First Six African Americans Who Escaped Poverty and Became Millionaires" by Shomari Wills
- "The Wealth Choice: Success Secrets of Black Millionaires" by Dennis Kimbro
- "Black Entrepreneur Blueprint: Pathway to Generational Wealth" by Michael A. Jones
- "The Black Millionaires of Tomorrow" by Mark F. Brown
- "The Millionaire Mindset: Strategies Used by the Wealthy" by Dr. Dennis Kimbro
- "The Millionaire Master Plan: A Spiritual Guide to Financial Freedom" by Roger Allen Green
- "Building Wealth One House at a Time" by John Schaub
- "The Black Family's Guide to Building Wealth" by Mavis W. Sanders
- "The Color of Money: Black Banks and the Racial Wealth Gap" by Mehrsa Baradaran
- "The Black Tax: The Cost of Being Black in America" by Shawn D. Rochester
- "The Wealth Choice: Success Secrets of Black Millionaires" by Dennis Kimbro
- "The Condemnation of Blackness: Race, Crime, and the Making of Modern Urban America" by Khalil Gibran Muhammad
- "From Here to Equality: Reparations for Black Americans in the Twenty-First Century" by William A. Darity Jr. and A. Kirsten Mullen
Academic Journals:
- "The Economic Impact of Black Wealth, White Wealth: A New Perspective on Racial Inequality" by Melvin Oliver and Thomas Shapiro (Journal of Economic Issues)
- "The Racial Wealth Gap: Why Policy Matters" by William Darity Jr. and Darrick Hamilton (The Federal Reserve Bank of St. Louis Review)
- "Race, Wealth, and Intergenerational Poverty: There Will Never Be a Post-Racial America if the Wealth Gap Persists" by Mehrsa Baradaran (Harvard Law Review)
- "The Determinants of Wealth for African Americans" by Robert B. Avery and Gregory E. Elliehausen (The Journal of Economic Issues)
- "The Impact of Slavery on Racial Inequality in Poverty in the Contemporary U.S. South" by Thomas Craemer (Social Science Quarterly)
Organizations and Associations:
- National Black MBA Association
- National Association of Black Accountants
- National Minority Supplier Development Council
- National Black Chamber of Commerce
- Black Entrepreneurs Dream (BED)
- Black Enterprise Entrepreneurship Institute
- Association for Enterprise Opportunity (AEO)
- Minority Business Development Agency (MBDA)
Websites and Online Resources:
- BlackEntrepreneurBlueprint.com
- BlackWealthRenaissance.com
- BlackEconomicSummit.com
- BlackEntrepreneur.com
- BlackBusinessNetwork.com
- BlackStartups.com
- BlackMoneyMindset.com
- BlackBrandedBusinesses.com
- The Institute for Policy Studies - Racial Wealth Divide
- Economic Policy Institute - Black Workers and the Racial Wealth Gap
- Center for American Progress - Racial Wealth Gap Initiative
- National Association of Personal Financial Advisors (NAPFA) - Resources on Building Wealth in Minority Communities
- National Urban League - Economic Empowerment
- https://www.videoproject.org/black-boys.html
- https://filmfestivaltoday.com/film-reviews/film-review-black-boys-powerfully-examines-systemic-racism-against-black-male-bodies
- https://www.imdb.com/title/tt11473680/
Reports and Studies:
- "The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing Out America's Middle Class" by Prosperity Now and the Institute for Policy Studies
- "The Economic State of Black America in 2020: The State of Black Wealth" by the National Urban League
- "The Color of Wealth in Boston" by the Federal Reserve Bank of Boston and Duke University
- "Umbrellas Don't Make It Rain: Why Studying and Working Hard Isn't Enough for Black Americans" by Prosperity Now
- "Closing the Racial Wealth Gap: Establishing a System of Reparations for Black Americans" by the Roosevelt Institute
Documentaries and Films:
- "The Black Power Mixtape 1967-1975" (2011) directed by Göran Olsson
- "I Am Not Your Negro" (2016) directed by Raoul Peck
- "13th" (2016) directed by Ava DuVernay
- "The House I Live In" (2012) directed by Eugene Jarecki
- "Slavery by Another Name" (2012) directed by Sam Pollard
Podcasts and Audio:
- "The Black Millionaires of Tomorrow" by Mark F. Brown
- "The Minority Millionaire" by Brandon Gonez
- "Black Wealth Renaissance" by Dr. Claude Anderson
- "Black Entrepreneur Blueprint" by Michael A. Jones
- "The Black Wealth Podcast" by Shomari Wills
- "The Millionaire Mind" by Dr. Dennis Kimbro
- "The Black Wealth Matters Podcast" by Aisha Taylor
- "The Black Millionaires of Generational Wealth" by David J. Thomas
- NPR's Code Switch Podcast
- The Black Wealth Renaissance Podcast
- The Wealth Standard Podcast - Black Wealth Matters series
- The Black and Brown Podcast by Larry McNeill
Magazines and Publications:
- Black Enterprise
- Ebony
- Essence
- The Network Journal
- Black Wealth Renaissance Magazine
- Minority Business Entrepreneur
- The Black Millionaire Mindset Magazine
- Generational Wealth Quarterly
Educational Programs and Courses:
- Black Wealth Renaissance Academy
- Black Entrepreneur Blueprint Masterclass
- The Black Millionaire Mindset Coaching Program
- The Generational Wealth Builder Course
- Black Wealth Matters Financial Literacy Program
- The Black Wealth Legacy Summit
- The Millionaire Mindset Mentorship Program
- The Black Wealth Accelerator Bootcamp
Personal Finance Blogs and Influencers:
- The Budgetnista - Tiffany Aliche
- My Fab Finance - Tonya Rapley
- The Finance Bar - Marsha Barnes
- Journey to Launch - Jamila Souffrant
- Clever Girl Finance - Bola Sokunbi
- "Black Boys" is a documentary film directed by Sonia Lowman. It explores various aspects of black male identity and the challenges faced by black boys and men in America. The film delves into topics such as racial inequality, education, criminal justice, and societal perceptions. It features interviews with prominent figures, including activists, educators, and athletes, who share their personal experiences and insights into these issues. "Black Boys" aims to provoke discussions and raise awareness about the systemic barriers that impact the lives of black males in the United States.
This bibliography covers a wide range of resources, including books, organizations, websites, podcasts, magazines, and educational programs focused on Black entrepreneurship, network marketing, generational wealth, and economic empowerment. These sources provide valuable insights, strategies, and practical guidance for individuals and communities striving to achieve financial success and create lasting legacies.