While African Americans face a higher likelihood of living in poverty compared to other ethnic groups, the United States is also home to the largest cohort of affluent and highly successful Black individuals worldwide. Today, 1 in 50 African American families are millionaires, constituting a burgeoning ‘black elite.’
Renowned property developer Don Peebles stands among the wealthiest and most influential businessmen in America, earning the moniker ‘Black Trump’ with an estimated net worth of 700 million dollars.
In Atlanta, Georgia, this emerging black bourgeoisie has ascended to positions of influence. Meanwhile, in Texas, Psyche Terry and her husband have built a cosmetic empire, becoming sought-after figures in Dallas’s social scene. Concurrently, the ‘buy black’ movement is fostering community businesses, and a black-owned alternative to Amazon has emerged.
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