Matthew Miller, Forbes, May 6, 2009
Oprah Winfrey is one of the most lucrative brands in the world. Today The Oprah Winfrey Show airs in 144 countries, drawing 44 million U.S. viewers each week. Her Harpo Productions helped create the likes of Dr. Phil and Rachael Ray. She’s produced Broadway shows and has her own satellite radio channel. For all of this, she consistently earns more than $200 million a year.
{snip}
With a net worth of $2.7 billion, Winfrey tops the inaugural Forbes list of the Wealthiest Black Americans. She is the only billionaire on the list of 20 tycoons, all of whom are self-made. The group built their fortunes across a spectrum of industries spanning athletics and entertainment, media, investments, real estate, construction and restaurants.
Black Entertainment Television founder Robert Johnson became the first African American billionaire in 2000 after he sold the network to Viacom for $3 billion in stock and assumed debt. Since then, sagging Viacom and CBS stock, plus investments in real estate, hotels and banks—industries pummeled in the past year amid the recession—have dragged Johnson’s net worth to $550 million, we estimate. He ranks third on the list; his former wife and BET co-founder, Sheila Johnson, ranks seventh with $400 million.
Between Winfrey and Robert Johnson, in second place is golf phenom Tiger Woods, worth an estimated $600 million. {snip}
Woods’ career winnings exceed $80 million, but his real money is made off the course. His annual prize money represents less than 15% of his income, with splashy sponsorship contracts from Nike, Gatorade, Gillette, Accenture, AT&T and others raking in at least $100 million each year.
Rounding out the top five are two basketball greats: Michael Jordan ($525 million) and Earvin “Magic” Johnson, Jr. ($500 million), both of whom parlayed their time on the court into lucrative endorsement and business deals in retirement.
{snip}
Like our signature rich lists, The World’s Billionaires and Forbes 400, the Wealthiest Black Americans list is a compilation of net worth—not income.
Our estimates are purposely conservative and should be considered “at least” figures. While we try to value everything from individuals’ stakes in publicly traded and privately held companies to real estate holdings and investments in art, yachts and planes, we do not pretend to have access to list members’ tax returns and bank accounts.
Two real estate mavens who have survived the recent property slump appear on the list.
The grandson of a hotel doorman, Don Peebles, worth $350 million, runs one of the country’s largest minority-owned real estate development companies. Peebles Corp.’s portfolio includes hotels, apartments and office space in Miami Beach and Washington, D.C.
{snip}
Quintin Primo III is worth $300 million. The minister’s son grew up in Chicago. He earned his MBA at Harvard in 1979 and took a job in Citicorp’s real estate lending division. Primo founded Capri Capital in 1992 with childhood friend Daryl Carter and achieved initial success extending mezzanine loans to small borrowers that larger firms neglected to serve. Today Capri’s portfolio is larded with apartment complexes; the firm’s assets under management have swelled to $4.3 billion.
{snip}
Ulysses Bridgeman, Jr. garnered his $200 million through a combination of athletic grit and business savvy. {snip}
Upon retiring in 1987, Bridgeman bought five Wendy’s franchises to generate income while he planned his next career. Today he controls a sprawling dining empire with 161 Wendy’s and 118 Chili’s locations. Last year, sales of his Manna Inc. holding company were $530 million.
With a net worth of $125 million, Kenneth Chenault, chief executive of American Express, rounds out the group. Chenault attended Harvard Law and held posts as a consultant and a lawyer before joining Amex in 1981. He became the company’s chief executive in 2001. The company’s shares are down nearly 50% in the past 12 months as profits shrink, delinquencies rise and cardholders throttle back spending.
{snip}
Original article
(Posted on May 8, 2009)
Comments
“Oprah Winfrey is one of the most lucrative brands in the world.”
Yes, but without a white following anything with her name on it would be but a squeak by comparison.
All blacks owe whites in some way for their success. It’s just a shame their anti-white hatred refuses to recognize that and they gleefully continue on with a hate whitey attitude.
Athletics and entertainment. That’s basically it. There may be a FEW exceptions but those are the only two areas where blacks REALLY excel. Neither area requires intelligence. Talent yes, but not much in the way of intellect. Personally I never could understand why Tiger Woods receives scores of millions in endorsements. I’m going to go buy a $35,000.00 gas-guzzling SUV because he is in a five second commercial saying “who’d you expect, Igor” with a goofy look on his face? I don’t think so.
so, someone tell me again why affiretive action is still neccesary? Anybody[any race] can have agood life if they work hard and keep their nose clean ie get an education, speak the language, obey the law-no real big mystery here.If going o jail meant 14 hr. days of hard labor, the jails and prisons would not be the revolving doors that they are now
not surprised Oprah was mentioned in the first sentence. She’s made her vast fortune by pandering to upper-middle class white women from the ‘burbs, if her show were geared primarily for blacks, she’d be a nobody. But isn’t nice how she chose her race over her gender when she endorced the Messiah? some gratitude
SHORT, SWEET, STRAIGHT TO THE POINT…
I found this on www.zasucks.com I thought it rather funny and typically black.
Athletics and entertainment. That’s basically it. .. Neither area requires intelligence…Personally I never could understand why Tiger Woods receives scores of millions in endorsements.”
Aside to Annon at 9:53 P.M. on May 8th. Black’s will always, always, always, take race over anything else, gender, religion, profession,nationality you name it. It is race first, last, always, and the only thing with them. Who do you think 99.5% of Black Americans would be rooting for in an Olympic competition between a White American and a black foreigner?
In a genuinely anti-black society, such a phenomenom wouldn’t even be tolerated, because the mere presence of such rich, powerful individuals would be perceived as a threat to the dominant group’s supremacy.
True, most African Americans don’t enjoy such levels of prosperity — in fact, not even as much prosperity as most whites — but the examples of Oprah, Tiger, et al, prove that America clearly provides its African citizens with at least the OPPORTUNITY to become rich. A truly racist society would deny them even the chance.
Therefore, if most blacks don’t thrive here (or anywhere else for that matter), it is obviously NOT because “Whitey is keeping them down.”
It’s only because THEY are failing to lift themselves up.
All these blacks are pc manufactured tokens. Winfrey is a joke and made it in the late 80s when she was a nobody who bravely went to all white Forsyth Co Ga and aired live standing up to those racists who only wanted whites in their county. What do whites see in this obese native of Nashville Tenn who moved north to Chicago?
“Aside to Annon at 9:53 P.M. on May 8th. Black’s will always, always, always, take race over anything else…”
Except party affiliation.
http://www.wilmingtonjournal.com/News/article/article.asp?
“his team whom he has spent nothing on but given a 400 million downtown NBA area to play in paid for by taxpayers.”
Damn, he is a great businessman!
Even a hundred years from now, if somebody points out that some black Americans are “successful”, I’ll be able to retort that they could not be successful on their own. I’ll be able to claim that such “success” is naught but a result of unfair pro-black policies: affirmative action or the legacy thereof.
Does any media group scrutinize if these wealthy blacks are philanthropic to anyone ? Philanthropic to any Whites ? The White culture that allowed them to become rich unlike any non-White culture could or would . If no to any of my questions; why are they not critized for being too cheap or just bigoted racists by our watch dog ( liberal ) media ? The ole’ racial double standard, again, uh ?
Why is it that none of these business “tycoons” have Wikipedia entries? Could it be because they’re insignificant?
“All these blacks are pc manufactured tokens.”
I agree with you. They were manufactured to pacify blacks. These token millionaires were created to take heat off the big capitalists by giving blacks the notion that they too now had a stake in the system. They could always point to Oprah. Same for a whole generation of black “stars” manufactured from out of nowhere.
For the vast majority of blacks, these millionares and celebrities are completely irrelevant to their real lives. The fact that they fall for it shows how gullible they are.
“Even a hundred years from now, if somebody points out that some black Americans are “successful”, I’ll be able to retort that they could not be successful on their own.”
Whenever I hear a man bragging about how he “didn’t need any help” and made it on his own,” I make it a point to ask him how old he was when he started changing his own diaper.
Do wealthy blacks give to needy whites? Is this a joke? Hell, they dont even give to needy blacks are you kidding? When is the last time you saw American blacks go back to Africa for any reason? For ages there have been white ministers and charities who go to Africa and take care of the millions of dying starving black kids feeding them or caring for them but its too dangerous to even do that now with all the black takeover overs of anything that was white ruled.
Dont be fooled. Blacks put that Africa in front of their names as a con only. They know Africa is their enemy and sold them off in slavery that really worked out well for all of them to say the least.
White elites thought they were getting a little cheap labor but didnt know they being conned and in the end destroying their entire white race and civilization.
Dont ever mess with Mother Nature and the natural world order arrangement but its too late now.
The white jealousy on this page is hilarious! I love the tired arguments that blacks would be “no where without whites,” “racial double standard,” and of course the ever-present affirmative action argument.
Two notable ommissions to the list are Stan O’Neal (Merrill Lynch wrecking boss) and Franklin Raines (Fannie Mae Affirmative Action Tycoon.) Both these black moguls are worth in excess of 125 million. Perhaps their wealth should be listed as a crime statistic.
if somebody points out that some black Americans are “successful”, I’ll be able to retort that they could not be successful on their own. … such “success” is naught but a result of unfair pro-black policies: affirmative action or the legacy thereof.wanted to leave a black in such a position of authority. This is the case with the current heads of American Express (Kenneth Chenault, groomed by prior CEO Harvey Golub ), and Time Warner (Richard Parsons, groomed by prior CEO Gerald Levin ), for two examples.
Also, there’s Loida Lewis (Beatrice Foods), and Ann Fudge (Maxwell House, Shake ‘n Bakd, Stove Top Stuffing, Kool-Aid, Young & Rubicam); Pamela Thomas-Graham (CEO & Pres.CNBC), Ingrid Jones (Chair, The Cola-Cola Foundation), Tracey Travis (CFO Polo-RalphLauren), etc., etc….
http://tinyurl.com/qmom2x http://tinyurl.com/pljlrf http://tinyurl.com/o37cxz http://tinyurl.com/ojs96a
“Ann Fudge, president of Maxwell House Coffee Co., and the first black woman to penetrate corvorate America’s top tier, agrees. “All of this corporate re-engineering has forced people to look at their performers with a lot more scrutiny. That gives talented people—regardless of their race or gender—an opportunity to make an impression, the kind that counts when it’s time to see who moves up.” http://tinyurl.com/qzye7u
“I love the tired arguments that blacks would be “no where without whites,” “racial double standard,” and of course the ever-present affirmative action argument.”
Yet you do not explain why these “tired” arguments are mistaken. Do you actually disbelieve that affirmative action enriches blacks, that there is no racial double standard, or that blacks would be “somewhere” (other than in something like Zimbabwe) without whites?
I am very surprised about reading of Junior Bridgeman’s success and I honor it. Larry Bird, Magic Johnson and Isaiah Thomas may have beat him on the court but Bridgeman got sweet revenge in the business world.
The white jealousy on this page is hilarious! I love the tired arguments that blacks would be “no where without whites,” “racial double standard,” and of course the ever-present affirmative action argument.
Posted by Will at 9:13 AM on May 11
We’re not jealous. I’m not jealous of someone with their pants hanging half down their butts who makes money singing about hoes and gangbanging and what a victim he is. We’re just tired of the complaining about how “oppressed we is’ by da’ man” when you are financially better off than us. (Besides, how do you know what anyone’s net worth is on this site?)
“All these blacks are pc manufactured tokens.”
I agree with you. They were manufactured to pacify blacks. These token millionaires were created to take heat off the big capitalists by giving blacks the notion that they too now had a stake in the system. They could always point to Oprah. Same for a whole generation of black “stars” manufactured from out of nowhere.
For the vast majority of blacks, these millionares and celebrities are completely irrelevant to their real lives. The fact that they fall for it shows how gullible they are.
Posted by Anonymous at 6:07 PM on May 10
Instead of whining and complaining, why not ask the selected few how they got so successful? Successful people, of any color, aren’t whiny nor do they act like victims.
“The white jealousy on this page is hilarious! …and of course the ever-present affirmative action argument. Once you admit to yourselves that you don’t have the skill, spirit or the mental acumen of these black individuals…”
Then perhaps you can explain why that skill and acumen were not in evidence until the advent of Affirmative Action. Was it a coincidence? Before then, where was it hiding all those years? Surely it would have found some way to come out!
Commentator “Will” has deigned to enlighten us white devils with this:
“The white jealousy on this page is hilarious! I love the tired arguments that blacks would be “no where without whites,” “racial double standard,” and of course the ever-present affirmative action argument.
Posted by Will at 9:13 AM on May 11”
Hello, “Will”—the ever-present “white jealousy” on this page is not quite as funny to me as your tenuous grasp of English spelling and grammar while you’re on that big soapbox of yours. Nonetheless, I can tell that you are college-“educated”.
That funny old “affirmative action [sic] argument” remains “ever present” sorta like that funny old Copernican notion about the earth orbiting the sun, or some such nonsense. Why are such arguments so stubbornly persistent, even with you around to set us straight? We can only wonder—or at least some of us can only wonder.
Perhaps you’ll be happy to know that I feel fine about myself—I freely admit that some of these African-descended achievers have much much more skill than I at throwing and catching inflated leather balls while running, or pandering to the emotions of bored soccer moms on talk shows. I made this not-especially-devastating admission to myself many years ago, and, by golly, have not lost a minute of sleep over it. Seems to me they pretty much can be ignored, and I pretty much ignore them. So far, it’s working out fine.
“Oprah who ?
“Once you admit to yourselves that you don’t have the skill, spirit or the mental acumen of these black individuals, the better you’ll feel about yourselves.”
You’re assuming too much! Who said anything about being jealous?on our own without affirmative action or any special programs, laws, or handouts to give us an artificial boost.
“perhaps you can explain why that skill and acumen were not in evidence until the advent of Affirmative Action. Was it a coincidence? Before then, where was it hiding all those years?”
And where was all that skill and acumen in those black countries that failed to develop, in the absence of affirmative action?
Reply to Will:
You say the arguments are “tired”.
Apparently they are so “tiring” you don’t even bother to refute them.
“We’re not jealous. I’m not jealous of someone with their pants hanging half down their butts who makes money singing about hoes and gangbanging and what a victim he is. We’re just tired of the complaining about how “oppressed we is’ by da’ man” when you are financially better off than us. (Besides, how do you know what anyone’s net worth is on this site?)”
Bully for you! I’m glad you’re not jealous. But, unfortunately, the same cannot be said for the rest of your ilk. While I couldn’t care less about the net worth of anyone on this site, it seems to me that someone who is making six-figures or more would have something better to do with his time than obsess over the salary of “sub-humans.”
“Then perhaps you can explain why that skill and acumen were not in evidence until the advent of Affirmative Action. Was it a coincidence? Before then, where was it hiding all those years? Surely it would have found some way to come out!”
I guess you never heard or read about C.J. Walker, Booker T. Washington, W.E.B. Dubois, Jack Johnson or George Washington Carver, all of whom made their fortunes before “Affirmative Action” was established.
“Commentator “Will” has deigned to enlighten us white devils with this:”
That made me laugh! I don’t think you guys are “devils.” Misguided perhaps? But I definitely don’t consider you to be devils. Atheists, like me, don’t believe in devils.
“Hello, “Will”—the ever-present “white jealousy” on this page is not quite as funny to me as your tenuous grasp of English spelling and grammar while you’re on that big soapbox of yours. Nonetheless, I can tell that you are college-“educated”.”
Thank you for the compliment, “oops.” I certainly am college-educated, not to mention clean and articulate. I’m also a libertarian; I voted for Bob Barr. I’m an atheist, too. Oh, I’m also attracted to white women. I guess you knew all of that, though.
“You say the arguments are “tired”.
Apparently they are so “tiring” you don’t even bother to refute them”
Here are a few refutations:http://www.huppi.com/kangaroo/L-aaquotas.htm — Myth about quotas.http://www.huppi.com/kangaroo/L-qualified.htm — Myth about denial of qualified workers.http://www.huppi.com/kangaroo/L-reversediscrimination.htm — Myth that Affirmative Action is “reverse discrimination.”
Hope these are helpful.;)
I guess you never heard or read about C.J. Walker, Booker T. Washington, W.E.B. Dubois, Jack Johnson or George Washington Carver, all of whom made their fortunes before “Affirmative Action” was established.
Yes, I’ve heard of them all, but aside from Madam Walker, who really was a millionaire, and Johnson who also made quite a lot of money, I didn’t know people like Carver and duBois had “fortunes”. (Perhaps they did.) I’ve also heard of people like Paul Robeson and Lena Horne; and of Josephine Baker who became the highest-paid entertainer in Europe in her day. (I’m sure you have heard of them too.)
There were others — like Daddy Grace and Elijah Muhammad, whom you might prefer not to mention. They also “made it”.
But at any rate, however they did it, all of these people above did indeed make it on their own. They were not products of any special governmental (or corporate) promotion program such as affirmative action. And that is the way it SHOULD be. I have no grudge against thenm. But that is not the way it is now.
Will:
Hello. There is no use in arguing with many of these ignoramuses about race and affirmative action.
They love to blame all their problems on Blacks nd Hispanics. It is a psychologically pervesre pleasure of thiers. They cannot bring themselves to look at their own sad, sad shortcomings.
I’m afraid Will, that citing some website that denies that affirmative action means quotas, will not convince many of us. I personally, and I expect many others here, have seen utterly unfit Blacks hired in preference to Whites. When the Los Angeles Department of Water and Power was looking for electrical mechanic trainees about ten years ago, NO White men were allowed to take the test. The LAPD and LAFD have both at times done the same thing. When I took the test to be hired as a welder, I was ranked 11th. When I was finally called for an interview a year later, the two other candidates were a S.E. Asian man who did not speak intelligible English, and a Black man who told me that he was ranked 72nd. That is, out of 130 questions, he missed 61 more than I did. The job went to a person wholly unfit to do the work. I don’t really care what Black, or White billionaires make, I was just idly reading this, but anyone who denies that affirmative action is stealing from capable Whites to give to incompetent Blacks is not honest. If you don’t believe my story, why don’t you check out the article about the Black serial killer who has worked for the State of California for decades, when he wasn’t in prison for sexual assault or something else. Do you really think that convicted violent felons belong in the pool of qualified insurance adjusters?
Excellent! “Will” responds to yours truly:
“I certainly am college-educated, not to mention clean and articulate [Uh, I’ll be the judge of that “articulate” thing, bro—admittedly you are doing better than the last time]. I’m also a libertarian [no, you’re a garden-variety totalitarian looking forward to punishing people who look like me]; I voted for Bob Barr [think “stopped clock”]. I’m an atheist, too [how special! Am I a notch lower for being an agnostic?]. Oh, I’m also attracted to white women [as if I cared. But as I’ve said, all stereotypes are true , in a larger statistical sense—and now you’re just another data point]. I guess you knew all of that, though” [no, you give me too much credit—but nothing you say is much of a surprise, “Will”].
I’m gonna guess here—you have a “public sector” job, in the Atlanta area.
You’re welcome.
