[b]"Something I read the other day brought me back to one of Black poet Jon Kasandra’s most thought-provoking observations: “All poor people ain’t Black, and all Black people ain’t poor.”

That came to mind as I reviewed Forbes magazine’s annual “Billionaire’s List,” which happened to include, this year, the richest Africans on the planet.

Without reminders such as the Forbes list, it’s easy to slip into the grossly inaccurate belief that there’s something peculiar to Black DNA that facilitates poverty, or makes us incapable of handling large economic resources.

Many of the stereotypes about Africans and their “natural inclination” to lack wealth and to be economically incompetent can be traced, of course, to the oppressive impact of the colonizers and the specious “logic” of the pre-colonial slave traders and slave masters. These ruthless businesspeople easily rationalized mass kidnapping, brutal treatment and lifetime bondage of Africans.

They did so in large part by repeating to anyone who would listen that the act of bringing Blacks to America was actually good for the future slaves, as it represented a vast improvement over the “horrible conditions” the “poor savages” would have had to face if they had remained with their own families, in their own homes, in their own countries, in Africa.

To the contrary, the Forbes list, and others like it, remind us that Africans, and by extension African Americans, much like people on all the other continents of the world, have a keen understanding of economic issues, and are no strangers to wealth-building, or to caring for their own people, left to their own devices.

In fact, unencumbered by the stereotypes of Black incompetence foisted on African Americans, African immigrants have created an exceptional record of achievement — perhaps most notably in academic pursuits.

Despite the fact that about 15 percent of the people on Earth are Africans, over the past 45 years the U.S. has only taken in only about 850,000 Africans, or 3.3 percent of total U.S. immigration. Perversely, prior to that time, from 1965 back to the passage of the Immigration Act of 1924, the U.S. imposed a quota on non-Egyptian African immigrants of 1,100 persons per year, which was subsequently increased in 1952 to 1,400 Black Africans annually.

So during the “glory years” of European immigration, Black Africans were essentially excluded from having opportunities for U.S. citizenship.

Despite all that, those who were admitted have made great strides toward eliminating the “inherent Black lack of intelligence” stereotype that even today has been far too widely accepted by the American people.

For example, if the American people had been paying attention, they would have noticed that 48.9 percent of all African immigrants hold a college degree — that’s more than twice the rate of U.S.-born white Americans. They might have also noticed that by 1997, 19.4 percent of all adult African immigrants in the U.S. had attained a graduate degree, as compared to just 8.1 percent of adult white Americans.

Forbes also disclosed that there are now 1,210 billionaires worldwide, who hold a collective $4.5 trillion in wealth. Perhaps most noteworthy, however, is that increasingly the wave of global billionaires is not flowing from the U.S. and Western Europe. Instead, as a reflection of the overall shift in global economic influence, they’re coming from emerging nations.

Indeed, in 2011 one in four of the world’s 1,210 billionaires are citizens of one of the BRIC nations — Brazil, Russia, India, China — a group that recently sometimes has also included South Africa.

Five years ago, by comparison, just one in ten billionaires lived in those countries. Even more to the point, of the 214 new billionaires added to the Forbes list in 2011, 108 came from one of the four BRIC nations.

There are lessons to be learned.

The first and most obvious lesson is that when we compare the wealthiest Africans with the wealthiest African Americans, the wealth of rich Black Americans appears to be almost paltry. The five African billionaires, for example, have an average net worth of $8.3 billion.

They earned their money “the old-fashioned way,” and they include people such as Nigerian Aliko Dangote, ranked as the world’s richest Black person, and the 51st wealthiest person on Earth, with a personal net worth of $13.8 billion. Dangote generated his billions through sugar, flour, textiles, real estate, oil and gas.

Following Dangote, at $12.3 billion, is Mohammad Al Amoudi, he of the Saudi Arabian father and Ethiopian mother. Mr. Al Amoudi, who ranks as the 62nd wealthiest person on the planet, derives his wealth from the oil business. Third on the list of wealthiest Black Africans is Mike Adenuga, whose initial net worth figure as reported by Forbes was “just $2.0 billion.”

A huge controversy ensued regarding Forbes’ inaccurate report, and new postings have more accurately assessed Adenuga’s wealth at a minimum of $10.1 billion, and perhaps more than that of his countryman, Dangote. The fourth wealthiest Black African, ranking 336th in the world, is Patrice Motsepe, at $3.3 billion. Motsepe, a South African, purchased a gold mine in 1994 as soon as Blacks could legally do so in South Africa, following its “democratization.”

Fifth on the list is the high-profile business mogul Mohammed “Mo” Ibrahim. A self-made billionaire and the 23rd richest person in the U.K. with a net worth of $1.8 billion, Ibrahim is a native of Sudan, and earned his money by founding Celtel, a mobile phone company that now serves 23 countries in Africa and the Middle East. He sold the company in 2005 for $3.4 billion and promptly put $1.4 billion “on his hip.”

To his everlasting credit, Mo Ibrahim has grown to become one of the word’s most important philanthropists. Through one of his foundations, he has created a lifetime award in the amount of $5 million for ten years and $200,000 annually thereafter, to be presented to an African head of state who has retired within a preceding three-year period, and who has left his country materially better off and more transparent.

Clearly, with examples such as Ibrahim, what the world needs now is more Black African billionaires.

By comparison, the richest African Americans, while admirable in their own right, aren’t really operating on the same national or global economic level as those back in the “mother countries.”

For example, the top six wealthiest African Americans (and we have to include six of them because behind the top two, we have four African Americans who are tied for third place, with the exact same reported net worth levels), are Oprah Winfrey, No.1, at $2.7 billion; Robert Johnson, second, at $550 million; and then Sean “Diddy” Combs, Tiger Woods, Michael Jordan and Earvin “Magic” Johnson, tied at $500 million each.

That comes out to an average net worth of $875 million, per person; without Oprah’s $2.7 billion in the calculation, the average drops to $510 million.

What I find most interesting is that while each of the top wealthiest Africans earned their fortunes in infrastructure-related pursuits, such as gold mining, oil and gas, agriculture, telecommunications ownership, textile and real estate development, every single one of the six wealthiest African Americans, on the other hand, traces his and her fortune back to either sports or entertainment.

They have gold mines, we have “hip-hop.” They create and run telecommunications firms, we play basketball. They provide incentives to government leaders to improve the quality of their governments, and the treatment of their people across the continent; we’re still working to improve the next talk-show format.

It appears there are great things that African Americans can learn about success and self-determination from Africa.

I hope we do so. It’s getting late. "[/b]
http://www.phillytrib.com/commentaryarticles/item/1774-rich-africans-vs-black-americans.html

[img]http://euphorialand.files./2009/11/oprah-winfrey.jpg[/img]

Could it be that the black African billionaires prefer giving out fishes as oppossed to teaching one how to fish ? And the reciever is either too lazy or just OK recieveing crumbs.

ifyalways: Could it be that the black African billionaires prefer giving out fishes as oppossed to teaching one how to fish ? And the receiver is either too lazy or just OK receiving crumbs.

You have a point but not all black african billionaires are like that, particularly Aliko Dangote. He is not only helping building communities he has been giving advise to young black africans coming up on how to make it or as you say "how to catch a fish". At the sametime you have a point but when it comes to Nigerians though I have noticed that most Hausa's are like that being satisfied with just receiving not learning how to do it themselves as you said but when it comes to Yoruba's and igbo's it is a different ball game to a extent.

https://www.youtube.com/watch?v=Lx_H_LrZ1DE

what do you think?

anonymous6: what do you think?

They have gold mines, we have “hip-hop.”

That says it all right there.

Think about those oil barons in oil producing areas in the south in the U.S.
Think of the cotton plantation owners in slavery times.

Were those people really brilliant businessmen? Not really. Some of the African businessmen, especially the oil millionaires, fall into that "not really brilliant" category that some of those early American businessmen did.

Granted there are/were many real brilliant businessmen and women in America in certain areas of industry in America, those people have/had full access to and integration with the larger society and all of its resources, and some of them even had influential connections to lawmakers. That kind of integration with the larger society is what you have in Africa that allows for millionaires and billionaires to spring up in "traditional" areas in Africa, but which makes it hard for the same thing to happen to black Americans in the U.S. Look at how Sir Louis Ojukwu started - transportation. Look at how the Dantata dynasty started - with kola nuts, ground nut, livestock, etc. Those people were able to exploit a vacuum that existed for something that was needed/greatly desired in their immediate community. Look at the bankers, media moguls, telecommunications moguls. It's the same thing. For African Americans to come up with a product needed or wanted nationwide would be far more difficult in my opinion because they don't have that full immersion into the larger American society so they can't predict that what is really needed or wanted or see as easily what areas they can tap into and exploit to make their millions or billions.

anonymous6:

You have a point but not all black african billionaires are like that, particularly Aliko Dangote. He is not only helping building communities he has been giving advise to young black africans coming up on how to make it or as you say "how to catch a fish". At the sametime you have a point but when it comes to Nigerians though I have noticed that most Hausa's are like that being satisfied with just receiving not learning how to do it themselves as you said but when it comes to Yoruba's and igbo's it is a different ball game to a extent.

https://www.youtube.com/watch?v=Lx_H_LrZ1DE

I don't mean to sound boastful/prideful but Dangote is just following his Fulani roots, Fulani believe in giving back and not being selfish and share as much as they can. Americans (whites, blacks, hispanic, etc.) believe in a more selfish/individualistic culture and believe if they are helping others out it is a bad thing. They feel that others don't want to work which is a lie, the truth is is that they are being selfish.

It is more of a cultural thing, in Fulani culture (and other true TRADITIONAL African cultures) if you are selfish, you are shunned. In American/Western culture, if you are selfish people think it is the right thing to do.

Fulaman198:

I don't mean to sound boastful/prideful but Dangote is just following his Fulani roots, Fulani believe in giving back and not being selfish and share as much as they can. Americans (whites, blacks, Hispanic, etc.) believe in a more selfish/individualistic culture and believe if they are helping others out it is a bad thing. They feel that others don't want to work which is a lie, the truth is is that they are being selfish.

It is more of a cultural thing, in Fulani culture (and other true TRADITIONAL African cultures) if you are selfish, you are shunned. In American/Western culture, if you are selfish people think it is the right thing to do.

You have a point but what would you say about those selfish illiterate African leaders of today; look at Mugabe that guy is selfish as they come, the same with the leaders in Gabon, even Nigerian is not immune to this(ex. Abacha), and way I agree with your assessment to a extent because the people I mentioned to a extent are government leaders and illiterate, the ones that are literate and educated tend to have the ideals as you mentioned and that includes the wealthy of that background. Although that is the case you did bring up a valid point when it comes to the differences between wealthy African Americans vs. wealthy Black Africans but it is not black and white as you make it seemed it is very complex and a little of gray

PhysicsQED:



That says it all right there.

Think about those oil barons in oil producing areas in the south in the U.S.
Think of the cotton plantation owners in slavery times.

Were those people really brilliant businessmen? Not really. Some of the African businessmen, especially the oil millionaires, fall into that "not really brilliant" category that some of those early American businessmen did.

Granted there are/were many real brilliant businessmen and women in America in certain areas of industry in America, those people have/had full access to and integration with the larger society and all of its resources, and some of them even had influential connections to lawmakers. That kind of integration with the larger society is what you have in Africa that allows for millionaires and billionaires to spring up in "traditional" areas in Africa, but which makes it hard for the same thing to happen to black Americans in the U.S. Look at how Sir Louis Ojukwu started - transportation. Look at how the Dantata dynasty started - with kola nuts, ground nut, livestock, etc. Those people were able to exploit a vacuum that existed for something that was needed/greatly desired in their immediate community. Look at the bankers, media moguls, telecommunications moguls. It's the same thing. For African Americans to come up with a product needed or wanted nationwide would be far more difficult in my opinion because they don't have that full immersion into the larger American society so they can't predict that what is really needed or wanted or see as easily what areas they can tap into and exploit to make their millions or billions.

I agree with this statement, you are right and to be honest I think it is too late actually for African Americans even if they immersed themselves in the the American society because almost or most every product I can think of in America has already been produced by white Americans(white men) or stolen to a extent as their own. Kraft, coca cola, and etc are owned by white men, look at the Hiltons, Rockafeller and etc but at the sametime that doesn't mean they can't try it in the Caribbean where to a extent somethings have been untouched by the white men.

Fulaman198:

I don't mean to sound boastful/prideful but Dangote is just following his Fulani roots, Fulani believe in giving back and not being selfish and share as much as they can. Americans (whites, blacks, hispanic, etc.) believe in a more selfish/individualistic culture and believe if they are helping others out it is a bad thing. They feel that others don't want to work which is a lie, the truth is is that they are being selfish.

It is more of a cultural thing, in Fulani culture (and other true TRADITIONAL African cultures) if you are selfish, you are shunned. In American/Western culture, if you are selfish people think it is the right thing to do.

Apparently Dangote is mostly Hausa:

https://www.nairaland.com/102638/aliko-dangote-started-out-like#9278616

anonymous6:

You have a point but what would you say about those selfish illiterate African leaders of today; look at Mugabe that guy is selfish as they come, the same with the leaders in Gabon, even Nigerian is not immune to this(ex. Abacha), and way I agree with your assessment to a extent because the people I mentioned to a extent are government leaders and illiterate, the ones that are literate and educated tend to have the ideals as you mentioned and that includes the wealthy of that background. Although that is the case you did bring up a valid point when it comes to the differences between wealthy African Americans vs. wealthy Black Africans but it is not black and white as you make it seemed it is very complex and a little of gray

I would say those leaders are a bad example of African leaders, they are the very reason why those countries are being held back from reaching their true potential. The leaders are "ganyo mada" which means the enemy in Fulani language.

PhysicsQED:

Apparently Dangote is mostly Hausa:

https://www.nairaland.com/102638/aliko-dangote-started-out-like#9278616

Hmm very interesting, I stand corrected then.

opinions

Fulaman198:

I would say those leaders are a bad example of African leaders, they are the very reason why those countries are being held back from reaching their true potential. The leaders are "ganyo mada" which means the enemy in Fulani language.

interesting

anonymous6:

You have a point but not all black african billionaires are like that, particularly Aliko Dangote. He is not only helping building communities he has been giving advise to young black africans coming up on how to make it or as you say "how to catch a fish". At the sametime you have a point but when it comes to Nigerians though I have noticed that most Hausa's are like that being satisfied with just receiving not learning how to do it themselves as you said but when it comes to Yoruba's and igbo's it is a different ball game to a extent.

https://www.youtube.com/watch?v=Lx_H_LrZ1DE

I never knew about this interview, hmm good for him

suyu:

I never knew about this interview, hmm good for him

Yeah he did it was last year, MTV africa announced it. So whats your opinion about what the article raised?

anonymous6:

Yeah he did it was last year, MTV africa announced it. So whats your opinion about what the article raised?

This is nothing new

The wealth that comes from the AA community compared to africans is obvious.....to the core

Good topic though

suyu:

This is nothing new

The wealth that comes from the AA community compared to africans is obvious.....to the core

Good topic though

True, but I found it interesting a article brought it to light

This shouldn't be a thread about Rich black Africans and Rich black African Americans. It should be a thread on what we can do to help each other reach the goals each wants to reach.

Also for Naive Royal who knows nothing except his little American world, everyone measures success by different ways. The Fulani for example don't measure success by how much money one has, but by how much one has done to help others out in their community. Money is the last thing on a Fulani mans mind.

A Fulani thinks of his people (and other people who suffer first) and family, then his cattle and music.

Fulaman198: This shouldn't be a thread about Rich black Africans and Rich black African Americans. It should be a thread on what we can do to help each other reach the goals each wants to reach.

Also for Naive Royal who knows nothing except his little American world, everyone measures success by different ways. The Fulani for example don't measure success by how much money one has, but by how much one has done to help others out in their community. Money is the last thing on a Fulani mans mind.

A Fulani thinks of his people (and other people who suffer first) and family, then his cattle and music.

Royal is a nutt case, dont pay him any attention, pure waste of time. He is just trying to derail the thread.

But when it comes to rich Black africans and rich black americans, they should do things to progress their own communities first, Then extend. I am more concerned with black african progression.

~Royal~:
The Primitive Nature of the Minds in Question start to display Hostility...

The oldest male gorilla (foolaman) begins to approach the photographer

Foolaman a gorilla who seemingly in his mid 40s (i suspect 46 years of age)...has proclaimed virginity until he find the right mate.

The 3 primitive beings then begin a discussion involving...fire...wood..and the comparison of Music Artist to oil Tycoons.

.......Captivating Display ...

You can take your American racist terminology elsewhere, we already know how you Americans think (backwards). All you guys think about is skin colour, race and discrimination against the old and weak. Also I'm in my 20s, our different cultures just show you how much more mature an African can be than an American.

anonymous6:

Royal is a nutt case, dont pay him any attention, pure waste of time. He is just trying to derail the thread.

But when it comes to rich Black africans and rich black americans, they should do things to progress their own communities first.

He doesn't bother me, he's around my age but yet acts 15 years younger.

Fulaman198:

He doesn't bother me, he's around my age but yet acts 15 years younger.

True, his post are a example for all to see his mind frame.