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September 2008
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How Wall Street Committed Financial Suicide
Are you still confused about sub-prime mortgages, the credit crunch, and the government bailout? How could Wall Street's financial geniuses lose $500 billion on investment products they created?
Portrait of The Black Economy 2007
How much are Black Americans worth? How many of us have college degrees? What percentage of Blacks do not have a bank account or health insurance? How do you compare?
Oil and Gasoline Prices 101 The price of gasoline has increased more than 150 percent in the last five years, learn how gas prices work and determine who's to blame?
Got Financial Intelligence?
Ask yourself, are you financially educated, financially literate, or financially intelligent? It's not a trick question, Please allow me to school you on the differences between the three.
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The Black Economy's Top 10 Wealthiest Black Americans
1. Oprah is still holding down the number one spot with an estimated net worth of $2.5  billion. In 2007, the “queen of television entertainment” and her mega company, Harpo Productions Inc., which includes productions in television, film, radio, publishing and music, generated roughly $350 million. Oprah also received approximately $20 million as part of a three-year $55 million deal with XM Satellite radio for creating the Oprah & Friends channel. She is scheduled to launch her cable channel, The Oprah Winfrey Network (OWN), in 2009.
 2. Bob Johnson, founder of BET, and current chairman of RLJ Development LLC, a hotel real estate investment company, maintained his number two spot on the wealthiest blacks list with an unchanged net worth of roughly $1 billion. Bob has been making moves in the movie business with the creation of Our Stories Films, a Los Angeles-based film company that will produce comedic and family-friendly feature films for African American and urban audiences. JP Morgan Chase has reportedly invested $175 million into Our Stories.
4. Earvin “Magic” Johnson, Chairman and CEO of Magic Johnson Enterprises, which is comprised of a portfolio of companies and partnerships that include Starbucks, Burger King, 24 Hour Fitness, and many others, continues to build wealth while redeveloping and increasing the standard of living of inner city neighborhoods. Johnson, worth approximately $700 million (number four on the wealthiest blacks list), recently partnered with Canyon Capital Realty Advisors to create the $1 billion Canyon-Johnson Urban Fund III, which will facilitate more than $4 billion in new development and urban revitalization in the top 40 U.S. metropolitan markets.
 6. Tiger Woods is a relentless “cash cow,” who in 2007 raked in $115 million from golf earnings and endorsements. Tiger has stacked approximately $440 million, and is projected to be the first billionaire athlete. No wonder the “king of golf” can afford toys like his 155-foot yachts and a ten-acre oceanfront home on Florida's exclusive Jupiter Island. Tiger took over the number six slot, formerly held by Michael Jordan.
See who increased their wealth and who fell off
from Jay-Z, Diddy, Bill Cosby and more
Click here for the complete list!
 Create Wealth, Enjoy Life! 
James "Bird" Guess
President & Founder
TheBlackEconomy.com
staff@theblackeconomy.com
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