According to the Institute for Policy Studies, the wealth of the Forbes 400 billionaires is equal to the wealth of the entire African American population. There are currently 41 million blacks in America. After the economic crises in 2008, wealth, specifically in African American households, declined dramatically. According to the research, the amount of billionaires that would fit “in a high school gym” equals to the entire number of black households – about 14 million.
On the list of billionaires includes only one African American woman: Oprah Winfrey. Winfrey holds a net worth of $2.9 billion. She is one of six other black billionaires all over the world.
The numbers are also supported by the homeownership percentages for African Americans. 43.1 percent of blacks are homeowners while white homeownership is at 73.3% and Latino at 47.6%. According to the study, African Americans make up 13 percent of the U.S. population but have only 2.7 percent of total wealth.
This study was first mentioned in an article by Bob Lords on January 15, 2014.
Little Known Black History Fact: Wealth of African Americans was originally published on blackamericaweb.com