Yes you read that statement correctly, going by 2021 Wordbank GDP figures by country – black Americans have a greater spending power than Australia or Spain. The GDP for Australia in 2021 was $1.551 Trillion, for Spain it was $1.427 Trillion. In 2022 CNBC reported that black Americans have a combined spending power of $1.6 Trillion USD.
BTW that spending power went up 171% since the year 2000. How can it be Black America have more spending power than two rich countries and still keep suffering such much inequities in law enforcement, health, eduction, etc?
Two words, No Unity.
Also continued lack of ownership their own IP (intellectual properties)
Black Americans the powerest/richest people on earth
Just think of this, Michael Jackson alone made over $3 Billion dollars before his death and billions since. Bob Marley (yes he’s Jamaican), Prince, Jimi Hendricks etc., continues to earn billions of dollars years after their passings.
Where is all that generational wealth building going?
The question is a very salient nowadays – where are America’s black dollars going? Not in the pockets of black Americans (they have some of lowest household wealth).
In the same period when black wealth in the country doubled, Asian household wealth quadrupled – hispanics saw their combined wealth tripled.
Black Americans: Inventors of modern culture
Black Americans are simple giving their money away for nothing in return. They created Jazz, Rock, Blues, Rap, Funk and more. How many black billionaire Rock stars do you know?
An English prime minister once bragged that Rock and Roll was England’s biggest export. Think of that – a powerful empire making money off a quintessential black American invention.
Why do you think Sir Elton John, Sting, Rolling Stones, etc are all billionaires?
