‘Black excellence’ is a term used by a large number of black Americans, who aspire to be the best in their fields, businesses, and their influence in society in the American community. The number of black American millionaires has doubled in the past 25 years and is the 2nd largest group of millionaires after the white community. The most well-known are athletes, politicians, and entertainers, but, there is a different set of black millionaires that makes up 3% of the black American population, that is 1 and a half million people. True to this 1 in 50 black families are millionaires.
Don Pebbles, an American real estate entrepreneur, is worth a net of $700 million. Having started by buying only one building, he develops and sells property and is a respected expert in the industry and elite circles. He says “I see capitalism first. The massive amount of development, the massive amount of people working and doing business… reminds you of how America was built based on capitalism, and then I see great opportunity.” Successful Black people in the American community like Peebles, are a great inspiration to the black community considering the country’s past struggles with slavery and racism.
There are other successful black Americans that, through how they started, have shown that if blacks would stick together, success is inevitable. Psyche Terry, CEO, and co-founder of a nationwide cosmetics brand is worth $10 million. They started the business with her husband from their kitchen, using everyday edible ingredients to make beauty products with their target being black American skin. Eventually, former professional baseball player Tori Hunter and his wife invested in Terry’s company, putting in $250,000.
Because the black community has been known to struggle with growth economically, politically, and socially, especially with the issue of discrimination against blacks and their businesses, education and various privilege, etc. the elite in the black community may seem like they are bragging, or secluding the rest of the American population, but contrary to this, black businesses are simply trying to make a mark in the economy, to show that they can also be as successful as the white successful race.
Psyche confesses, “We employ White people, Black people, Latino people, Asian people, we’ll take anyone who has a heart that beats the same drum as our heart.” And this goes to show, that all in all, it is just about showing the possibility of success for black-owned businesses, without bringing in the issue of race.
The number of blacks who earn $200,000 a year has tripled in just a few years, disapproving the stereo-types toward black Americans. Maggy Anderson, a prominent ‘buy black’ advocate says, “Black businesses are under-supported and if I’m not supporting, no one else will.”
Just to bring it home. Africa has been known to be the richest continent in terms of resources. The issue has always been that these resources are mismanaged, and in some cases untapped. If we would as a continent harness the power of working together and take an example of the black community in America, especially those who have proved successful in supporting their own; Africans would be rolling in success and money, without the help of donors. Imagine that!