Ikengawo:
All wealth is hording.


There's no such a thing a self made billionaire. It doesn't exist anywhere on earth. Business is cooperation, and cooperation is business. These gospels of being 'self made' are misleading a lot of people. It's a uniquely American ignorance.

In our culture, we understand that wealth is a collaborative effort. If you want to be wealthy, you work hard and collaborate with others trying to do the same thing. You build networks and connections. You offer those with money and power something of value in exchange for money and power.

Anyone that wants to learn about business needs to spend 1 month in Alaba Market. Anything else is a farce.

But in the end you will learn that 'wealth' isn't the issue. You're already among the most wealthy people on earth if you own a piece of land in Africa. But many don't value this gift, and leave they wealth to go seek another wealth.

Every patch of land in Africa has minerals, medicine, chemicals, and all of the ingredients that built the modern world. Unless you think the Europeans came here for sight seeing.

W3LLAND3R:
Through my observations I've come to the conclusion that most black people neither understand nor know how to manage money(though there are always exceptions to every rule) . A black person can be rich but not wealthy. This is evident in our society when we see rich black people such as NBA players squander their riches and go broke after their career; and when we see white owned business empires grow such as: Walmart ,Disney company ,coca cola,etc. The difference between wealth and riches is that wealth is passed from generation to generation; and i'm not talking about only financial wealth ,but also social wealth. For example ,when you look at European history,you can see it's rich history and how the social wealth of organization has been passed on from generation to generation.Also,in terms of financial wealth,its extremely rare to see a wealthy white family go broke after amassing wealth. While most white wealth families /couples stay together to build , most rich black people divorce or never even get married . For example ,Oprah never got married and when she dies her linage will be erased. Other examples of dwindling wealth is the former owner of BET who was worth 1.3 billion dollars but now worth 200 million dolalrs after selling the company and after a 100 million dollars divorce.

Can you think of up to 5 black billionaires who inherited and multiplied their wealth and their great great grand children stand a chance of inheriting billions as well? I can't think of any,but I can think of numerous black billionaires whose wealth dwindled and their companies bought out .In fact ,most black owned companies are usually bought out due to mismanagement.
Can you think of white wealth grown from generation to generation? we can see examples of white wealth in society passed from generation to generation. For example, John D Rockefeller's great great great grand children are still billionaires today,and their great great greand children will aslo be billionaires. Donald Trump's grand parents where millionaires and Donald trump grew that riches into wealth ,and his great great great grand children are likely to maintain and grow the wealth as well. Another example if Bill Gates .

from the examples above we can see how bad black people are with both financial and social wealth management. when will it be the right time for black people to hone the skills of money management?

babasolution:


I believe its a system,many whites had systems to cover their asses when they failed,eg donald trump was reported to be bankrupt at a time but he was saved by banks,i believe if he was a black person he probably would have been left to die.the banks will buy him want instead of saving the black,the system is very stacked against blacks,but blacks are still trying,we have a lot to learn,

izombie:
forget this your mentality. Why can't blacks open their own banks? The OP is right.

babasolution:


Africans have just started building wealth,these white people have been in the game for a damn long time.I think the basis for comparism is wrong

igbodefender:

Can you tell us what you think of Mansa Musa, who was said to be the richest man on earth in his time?

BigIyanga:

False.. 98% of Forbes billionaires do not own land or mining/drilling rights in Africa.
Self-made means not born into wealth or inherited. Jay-Z and Oprah are typical examples. They made it without their parents and govt connect.

babasolution:

Talking about mansa musa wealth is almost like talking about Abrahams or solomons wealth,that kind of wealth doesnt count,mansa musa simply got rich probably cos he was royalty and gold was abundant in his land,just like say queen of england,that wealth doesnt count,africans just started building wealth through creating value or systems very recently,probably after the slave trade era in the 19th century,while whites probably have been in the game just before the slave trade era and reinforced during that era,as u probably know,capitalist system and cooperations took off due to the trans- atlantic slave trade mainly.

Ikengawo:


Mansa Musa doesn't count because it came from his land, but you're not asking yourself what comes from your own.

CanadaOrBust:
Ok.
Dantata and Dangote
Saraki dynasty
And many others

IjebuWarrior:


Not a level playing field...

W3LLAND3R:
Through my observations I've come to the conclusion that most black people neither understand nor know how to manage money(though there are always exceptions to every rule) . A black person can be rich but not wealthy. This is evident in our society when we see rich black people such as NBA players squander their riches and go broke after their career; and when we see white owned business empires grow such as: Walmart ,Disney company ,coca cola,etc. The difference between wealth and riches is that wealth is passed from generation to generation; and i'm not talking about only financial wealth ,but also social wealth. For example ,when you look at European history,you can see it's rich history and how the social wealth of organization has been passed on from generation to generation.Also,in terms of financial wealth,its extremely rare to see a wealthy white family go broke after amassing wealth. While most white wealth families /couples stay together to build , most rich black people divorce or never even get married . For example ,Oprah never got married and when she dies her linage will be erased. Other examples of dwindling wealth is the former owner of BET who was worth 1.3 billion dollars but now worth 200 million dolalrs after selling the company and after a 100 million dollars divorce.

Can you think of up to 5 black billionaires who inherited and multiplied their wealth and their great great grand children stand a chance of inheriting billions as well? I can't think of any,but I can think of numerous black billionaires whose wealth dwindled and their companies bought out .In fact ,most black owned companies are usually bought out due to mismanagement.
Can you think of white wealth grown from generation to generation? we can see examples of white wealth in society passed from generation to generation. For example, John D Rockefeller's great great great grand children are still billionaires today,and their great great greand children will aslo be billionaires. Donald Trump's grand parents where millionaires and Donald trump grew that riches into wealth ,and his great great great grand children are likely to maintain and grow the wealth as well. Another example if Bill Gates .

from the examples above we can see how bad black people are with both financial and social wealth management. when will it be the right time for black people to hone the skills of money management?

W3LLAND3R:
So wikepedia is your source? of course the information has to remain undisclosed to the public in order to keep the business running. see, you don't understand how business works ; you think BET sale was announced? You think Verizon purchase of yahoo changed anything. the name remains the same the face of the company remains the same.

W3LLAND3R:
I'm still college ,I'm 22

W3LLAND3R:
Great point as well.
Most wealthy white families always keep it within the family and social circle. For example ,the British royal family never like mixing with outsiders (Megan Markle is disapproved and Harry is like the black sheep of the family ,that's why he resigned his post ) .Bill Gates parents and great grand parents never divorced ,and Bill Gates and his wife will never divorce ,and their son or daughter would never marry non Anglo white. most wealthy dynasties(couples) always stay together.
now some people may cite other examples to debunk what I said in my previous post; but again,there's a difference between wealth and riches. Most of the examples given above are rich ,not wealthy.

jesmond3945:
This kind of thread is the problem with Nigerians. You guys live in a bubble, you judge white people from far why not live close to them and see the scum they are. I bank with santander and barclay but I can tell you the services I enjoyed from gtb alone is far better. Our ICT firms are doing well. Proforce and Innoson are doing well. Tell all the white people to leave Nigeria you think they will? Blacks are working hard so that white people can claim benefits and waste at the pub. Op cure yourself from self hatred, go live and work with white people for atleast a year, then come back and edit your post.

DIKEnaWAR:
Why do we blacks always shoot down a discourse that tend to teach us by either playing the victim or insulting whoever raises the discourse with having a low self esteem?

I was just thinking this same thought this evening with the McMahon family in mind. I mean they have run the wrestling business and grown it into a billion dollar venture while it passed from fathers to sons.

babasolution:

Talking about mansa musa wealth is almost like talking about Abrahams or solomons wealth,that kind of wealth doesnt count,mansa musa simply got rich probably cos he was royalty and gold was abundant in his land,just like say queen of england,that wealth doesnt count,africans just started building wealth through creating value or systems very recently,probably after the slave trade era in the 19th century,while whites probably have been in the game just before the slave trade era and reinforced during that era,as u probably know,capitalist system and cooperations took off due to the trans- atlantic slave trade mainly.

W3LLAND3R:
I'm still in college ,I'm 22

W3LLAND3R:
Opra is worth 2 billion and she has a TV station,but i guarantee you that station will be bought out within the next 5 years . Jayz is worth around 800 billion now after selling his Rockefeller company and record label. Motown was bought out by whites . What legacy of wealth are black people leaving behind in this world ? Look at R kelly,he had the chance that 99.999 percent of people only dream about but he blew it instead of growing his wealth. his generation's chance at wealth growth has just been erased. Look at Michael Jackson, his 1.2 billion dollar wealth has just been shared among the 3 white kids. Black people do not know how to manage money and do not own anything in this world.
All the NBA teams are owned by whites. sad but true.
Jayz and beyonce just bought a 100 million dollars mansion,guess which race owns the building company and real estate company and tax company ? JP Chase Morgan has been around for over 100 years .

porka:


Remember during mansa musas time the concept of investment might not have been relevant,unlike the modern times,the arabs are mainly wealthy cos of oil and low population,asides that the arab world wouldnt be half as wealthy as they are now,they simply have leaders ,the black world has no leader,

Everyone has been in the game of wealth creation since the beginning of humanity. The question is why are some wealth and businesses sustainable and why are blacks' not sustainable? Are you saying there were no wealthy Africans during the slave trade era? Before the Trans-Atlantic Slave Trade there was the Trans-Saharan Slave Trade.

If the capitalist system and the corporations "took off due to the trans-atlantic slave trade mainly" as you claim, why didn't it take off with Africans/blacks merchants and mercantilist? And why were they not transferred to their generations? The system itself is just to aid what people do in a more organized way. So why did the wealthy Africans fail to integrate what they did then?

Mansa Musa's type of wealth is similar to the Arab Sheikhs' of this modern times. Are you saying they don't count too? They are major investors in property and assets in the west.

Ikengawo:


Mansa Musa doesn't count because it came from his land, but you're not asking yourself what comes from your own.