Most people, when they hear about billionaires, will think of those like Bill Gates, Jeff Bezos and Elon Musk. However, one question that may not be on most peoples’ minds when they hear about BIPOC billionaires is whether or not their existence actually benefits the Black, Indigenous and People of Color communities as a whole. This article will examine both sides of this argument.
THERE ARE 607 BILLIONAIRES IN THE UNITED STATES, AND ONLY 5 OF THEM ARE BLACK.
It's not easy for anyone to become a billionaire in America, but it's likely even harder if you're black.
Black Americans are disproportionately represented in the lower and middle income brackets and underrepresented in the upper income brackets. The net worth of the average black American household is around $140,000 as opposed to $400,000 for white households. In this country, blacks are more likely to be poor than whites and more likely to be incarcerated than whites.
MEETING THE NEEDS OF BIPOC COMMUNITIES
Meeting the needs of BIPOC communities is a daunting task for anyone involved in the process. Asking the community what they need can be a great start to finding out what is needed but it is just as important to listen and take their advice into consideration as well. From there, it is important to find ways to make these needs happen without neglecting the needs of other groups in the community as well.
There is an ongoing debate about the existence of BIPOC billionaires and whether or not this actually benefits the BIPOC community as a whole. The argument in favor of billionaires is that their existence provides visibility for the community to other segments of society and opens up new doors for future generations. On the other hand, those against billionaires say that it reinforces white supremacy by only providing a model for success that most blacks can't access because of systemic barriers and unequal opportunity. Ultimately, both sides are fighting for the same thing: justice and equality for all black communities around the globe.
AUTHOR: TAYLOR NICOLE ROGERS
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