WHERE ARE ALL THE BLACK BILLIONAIRES
A few months ago I wrote a blog about the first Trillionaire. The United States has 565 Billionaires. There are 2,043 Billionaires worldwide. There are only two African Americans in the United States and nine Blacks worldwide. Why aren’t there more Black Billionaires.
To answer that question you have to investigate how billionaires become billionaires. In words of Warren Buffett Assets is better than cash. You have to own something, land, buildings, or other tangible assets with resources, or create products for goods and services. That’s where the wealth lies.
Understand “Money is not wealth”. Money facilitates the buying and selling of products and services.” 
Money is only a tool to purchase assets that will one day turn into profits. The perfect example would be McDonald’s restaurants, that started out over seventy years ago (1940) in California and now is a worldwide franchise currently headquartered in the Chicago Illinois suburbs. McDonald’s has almost forty thousand franchises and over 1.5 million employees worldwide only second to Walmart.
Eight years ago was a good time to start investing in McDonald’s, it’s share went from $53 to today’s current stock price of $146 a share. But wait if you were frugal enough and bought 100 shares when McDonald’s first went public at $22.50 in April of 1965 you would have over 70,000 shares today valued at around 8 million dollars while also receiving sixty thousand dollars every year in dividends.
McDonald’s has made thousands of millionaires but the first billionaire stockholder was created April 2011 under the IPO Arcos Dorados which owns over 1500 franchises across South America and the Caribbean.
Quoting the words of Steve Forbes again ‘the number of billionaires should be closer to 20,000. My coming articles will be deeply looking into these worldwide billionaires and why their are not more Black Billionaires.
I will attempt to discover, explore, and research why it’s important to have more Black Billionaires.
T. Harvey Sr. The Money Connection
“Follow the Money People”