“Harnessing Black people’s wealth is as essential to their prosperity as is the defense of Democracy to America.” John Johnson II. 03/26/25
By John Johnson II
In the 2024 fiscal year, Black Americans collectively held $5.39 trillion in wealth, despite comprising only 13.7% of the U.S. population. If Black Americans were a nation, they would rank as the third wealthiest country in the world, behind only China.
Harnessing this wealth is essential for building economic strength, fostering entrepreneurship, and fortifying Demo-cracy.
However, Black Americans must not misconstrue the term “harnessing” as something restrictive or exploitative. Rather, it signifies controlling and utilizing resources for the greatest good. Just as humans have long harnessed water and energy for progress. But harnessing Black wealth requires both conscious and unconscious commitment. It demands an unwavering dedication to supporting one another holistically.
While challenges exist, there is a clear “Black-Print,” not a Blueprint, for harnessing Black wealth. The foundation begins with education, financial literacy, and skill-building. Remember, chasing every sale using a credit card isn’t a bargain.
The key to financial independence is simple: save consistently, invest wisely, and make informed financial decisions. Two essential principles stand out: never spend more than you earn and always pay yourself first, even if it’s just $5.00. This approach requires discipline, self-restraint, good credit management, and a long-term commitment to wealth building.
Harnessing Black wealth must also include fostering Black entrepreneurship. History has shown that divided communities, plagued by mistrust, will remain reliant on others for total economic support. Black people must once again invest in their own businesses and communities with the same drive from the past.
Given America’s current political an economic climate, the push toward a “more perfect Union” appears to be regressing. Systemic privileges persist, affirmative action has been reversed under claims of “reverse discrimination,” and Diversity, Equity, and Inclusion (DEI) initiatives face increasing opposition. These realities underscore the urgency for Black Americans to unite in harnessing their wealth—both individually and collectively.
Despite past and present obstacles, Black Americans have the power—and the responsibility—to harness their wealth. By prioritizing education, entrepreneurship and economic collaboration, they can shape a future of financial independence and lasting prosperity.
YOU BE THE JUDGE!
