Black Billionaires

It is true, its all about realizing an opportunity and seizing the moment. I had a lot of brilliant friends in HS and college and we had some good business ideas. I remember few occasions chilling at coffee shops and kicking around concepts similar to you tube and social networking sites, this was way before even friendster.com or myspace got launched. We had decent ideas but were not brave enough to articulate it. I had a little courage but did not have the brain power like my friends did so I couldn’t capitalize in some of the ideas and my friends were to lazy & did not like taking risks. Long story short, we all took the safest way to make a living than being innovative. Anyhoo, I still got some biz ideas but doubt they will make me a Millionaire, oh well, such as life.

 

There is a decent book by Asha Tyson, she is a young BW who was homeless at 17, then rose to prominence. The title of her book "How I Retired at 26! A Step-by-Step Guide to Accessing Your Freedom and Wealth at Any Age".


Another decent read- Millionaire By 26: Secrets to Becoming A Young, Rich Entrepreneur.


Another sucess story is Farrah Gray.

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Damn that was great. Thanks for posting. I really love that you guys are talking about stuff like this. I don't want to sound all preachy but we as bm have to keep threads like this going. I want to see every single one of you fuckers wealthy as well as rich. There's an unbelievable amount of talent on this forum now we just need to keep the focus.

 

Here's the thing BMJ most billionaires in our country and the world around have to manufactor on some level and to be able to compete you have to pay people cheap and barely livable wages. In order to manufactor normally you have to destroy the local economy. The world is suffering greatly by the mere existance of Walmart. You don't hit billionaire status without fucking over the poor and desperate. It's sad but true and don't get me wrong I'm not condemning these men and women. I'm just pointing out how they got to where they are.

 

Not every business is built on "goods".

 

If not directly indirectly. Give me an example of a business that isn't built on goods.

 

Google, Warren Buffet (Berkshire), John McArthur (Bankers Lf.), real estate investing.

Trying to think of people who took ideas and made them big and didn't have to have factory of people to accomplish. Will think of more later.....

You need an idea and an unwaverng drive to see it through.

 

FB
You tube

 

Stop having a bunch of kids with different women. Thats a start right there!

 

Great point.

 

The Google Corporation not only invests in software but hardware. The have google phones and where does the manufactoring for those phones come from?

Berkshire Hathaway is an investment firm that allocates funds to businesses that will make a profit. So in other words Warren Buffet may not have a factory of sweatshop workers but he invests in companies like Walmart that does.

Bankers see Warren Buffet example.

Real Estate Investing as of late has made people billionaires by selling bad loans to people they knew couldn't afford them or causing rezoning laws that forces people out of their homes.

My main point is being a billionaire requires that you're the cause of a shit load of human suffering. Not calling it wrong just saying what it is.

 

Yes, you are right. Not all business are built on goods.

Businesses differ on what the goods/products/services they produce. There are those that build intangible assets, they transact rights to use for further production , in many cases, such as franchises, patents, licencing agreements. And there are those that transact on just consumable goods, mostly goods that you find on shelf at Walmart, or Target.

Walmart from my understanding is a retailer that succeeds more for its economy of scale, its real time inventory system, and a sophisticated integrated online technology that allows suppliers access to its inventory information in real time.

Yes there are arguments that they destroy communities. But what is really destroyed? Is it the mom and pop stores that disappear in neighbourhood corners, or is it the big box designs that are common in suburban communities? Is it the eye sore that they create for communities when they become brownfields?

Capitalism is all about markets. Either you accommodate creative destruction or you ditch it, or you regulate it. You can't want competition, and and at the same time legislate wages. The worth of a skill set is determined by the markets, and those who desire it. Labour competes also in the market. And consumers continually want cheaper products.

There are intellectual arguments for and against Walmart, or retail giants that encourage big box designs. But those arguments are better left to those inclined to them, and the folks that pursue those interests.

Businessmen are motivated by profit. They work to innovate to outdo their competitors. They study human nature, what works and what better serves their interest. It means understanding your reality.

For example, Jay Z sold rap in such a dumbed version that everyone could relate and in the process recorded album sales that could helped his lifestyle. Talib Kweli believes in artistic merit, but does not have the returns that allows Jay Z's kind of lifestyle. I think this is the truth of the market place. It is about making things easier for consumers.

Steve Job's Apple continue to churn out devices that are user-friendly, posh, and that are easier to make a statement with in the market place. I think if you must be successful in business you must be open to ideas, you must be introspective and passionate about what you do. You must innovate to make the life of whoever consumes your product easier.

For black men in America, especially those that want to make it, I have a feeling it has to start with seeing the white man as stumbling block. The minute you reframe your perception, and see him as a resource the better. The Japanese use that concept to acquire technology from the dutch, and later ship building mastery. The Chinese did the same thing and are doing it currently. The British used the aggregation of knowledge acquired from travel.

Black people in America must see the world as a global market. They innovated with music, yet they have been reluctant to step out and know the world. It is that easy. If you must succeed in life, you must be willing to expand your territories, or borders of ideas. You don't want to be locked in the same way of doing things. I think this is key.

 

You guys ever watch the secret Millionaire? I caught 2 episodes and was touched by the ppl. I wish I was financially very successful, I would love to be on that show and give lots.

 

im serious

UA is everywhere now, lol. The only reason I did the mutual fund thing, was because of my grandfather who suggested that I invested rather than just blow $$$ on god knows what. The market is still a smart way to play if you know what you are doing. No one really gets rich by working a job. It's all about investments.

 

Precisely. A job provides you the means to pay your expenses. Investments are what make you wealthy.

 

Unless you're a doctor or in finance getting million dollar bonuses. There's also something to be said about small business ownership. One of the firefighters in my area owned 3 gas stations too. He lived very well.

 

it's time to get back to this way of thinking...the problem is that some people that get into small business want it to be big business over night...each individual has to capitalize on their individual talents and those can then be turned into a small business...the best way to start is as a side business with an already existing salaried position...

all you really have to do is open your eyes...do you ever wonder how much money the hotdog cart on the corner makes each day? the man pushing the popsicle cart...burrito man...lawncare business...my son and his friends make a rediculous amount of money doing lawn work...more than they would ever make at a job pulling min wage...teenagers...my tree trimming guy is getting a check from just me 500-1000 every year.....how many clients does he need to make a living...i think about all the things i spend money on or services i use...just paid an independent accountant to do my taxes...i just went to a neighborhood zumba dance class...several people from my neighborhood showed up and we all paid $15.00 a class...right after the class there were 4 guys trying to pick up new personal training clients...

it's time to get creative...

 

Isn't it ironic that most black billionaires are in Africa and not in the US or other first world countries?... Anyway, this is so sick, while millions are starving in Nigeria he has a net worth of $13.8 billion?, that's more than 10 times the GDP of some African countries like Sierra Leone, think I'm gonna throw up :???:

 

It's because only white people are allowed to reak wide scale havoc on people in the first world.