Posted on 02/28/2009 7:48:37 AM PST by dascallie
CNBC’s “NEWBOs: The Rise of the New Black Overclass” Will Premiere Thursday, February 26th at 9PM & 1AM ET on CNBC
CNBC’s “NEWBOs: The Rise of America’s New Black Overclass,” is an original one-hour primetime documentary about the growing wave of young black multimillionaires coming out of the sports, media and entertainment industries.
This project examines the rise of “Newbos,” — young black athletes, entertainers, and creative entrepreneurs – who, with the right amount of financial literacy, collaboration, intergenerational mentorship and social awareness, could have a profound, positive impact on black America. The special, hosted by Wall Street Journal reporter and CNBC correspondent Lee Hawkins, who coined the term “Newbo,” is based on Hawkins’ forthcoming book of the same title.
Newbos captures the pressures and prominence of the fascinating Newbo class and includes data about the wealth and financial impact of black athletes and entrepreneurial black music moguls in America.
Contradicting old-guard leaders who assert that Newbos offer little to the black community as a whole, Hawkins puts the spotlight on the entrepreneurial, social and charitable efforts of several Newbos and their contagious financial power.
The documentary offers behind-the-marquee stories on several high-profile Newbos, including NBA superstar LeBron James, Major League All-Star Torii Hunter, The Williams brothers of Cash Money Records, Dallas Cowboy star Terrell Owens, billionaire entrepreneur and Newbo pioneer Bob Johnson and musician, Multiplatinum gospel star Kirk Franklin, and television network owner Wyclef Jean.
There are more black multimillionaires and potential billionaires in the United States than ever before,
(Excerpt) Read more at globalgrind.com ...
When will we overcome this collectivist group-thinking? Liberals disgust me.
Yes, I noticed in the past how black athletes used their incredible earning power to fund local school libraries, fund mobile health clinics to poor neighborhoods and fund scholarships for promising young black students.
not
i notice only one NEWBO who does not directly owe his success to sports or entertainment.
Ultra-rich Democrats: “Socialism for thee, but not for me”, they say.
This must be fairy tale hour because I hear Barry everyday talk about how down trodden and poor blacks are.
I noticed on this they really didn’t give much attention to African Americans who where entrepreneurs, successful in the business world, doctors, lawyers, etc- they focused on athletes and entertainers. Pop culture mentality as to what type of achievement is important.
The whole concept here should be “Acclimation” and “welcome to normal society”. Not “Oh jeez! A black man made it!” Meanwhile the liberals are scrambling about whispering to each other “I just hope they don’t move to my neighborhood...”
“Um, y’know, um, we jus did, um, y’know, what we had to do to, y’know, win”
Financial literacy, collaboration, intergenerational mentorship and social awareness?!?
As long as huge percentages of black children are raised without a father in the house, African Americans will continue to be an underclass. There’s no way around it, and “racism” has nothing to do with it.
“We are your overlords”
Exactly. And even with sports and entertainment stars combined we're talking, what, maybe 1000 people? Hardly an "overclass." And most of them will burn through their money maintaining a lifestyle of opulence while saving nothing. They'll support their "crews" of sycophants and "posse" of criminals and hangers-on who help them spend their money on useless, gaudy crap faster than they can earn it.
In almost every example, they're multi-millionaires trying to live like billionaires and in the end they wind up just as broke as they started, forced to declare bankruptcy with millions in debt (not to mention child-support payments).
A couple of questions:
Why do they use “Overclass”? the normal term for wealthy is is “Upper Class” You wonder-who are they being placed “over”? Words mean things.
Also, I’ve often said any reparations should take into account these folks, Orca Winfrey, etc. If not for being in America, they would not be in the position they’re in-to say the least. So a 33% “you’re welcome” tax on anything over $1 million in their assets should be taken out—on top of the across-the-board-5-10% tax out on the reparations—to help fix the trashed cities and innocent crime victims these fine folks left behind.
The last step would be a one-way ticket back to paradise—I mean, why suffer here? Take the money and my heartfelt apology (even though I didn’t do anything)-and get gone.
PS-I saw an interview with the guy hosting this program, who said these overclass people are taking control of their own brand, whatever that means, and that since corporate America does nothing for them, they are doing for themselves. He mentioned Tiger Woods as an example.
Without money from corporate America, either endorsements, or indirectly by them sponsering tournaments, Tiger’d probably be worth $25, 000.
You could not be more correct. If they were a bit more frugal or managed their new-found wealth more intelligently, they’d have a lot more assets. It’s not a coincidence that many of these clowns have rather ephemeral weath - here today, gone tomorrow - because they lack financial discipline.
There’s a billionaire here in Illinois who still eats senior meals at McDonalds; still shops at Burlington Coat Factory and drove a Buick until he made his first billion, when he finally opted for a year-old Mercedes Benz S500. Unlike the blowhards mentioned by CNBC, he has donated over $30 million to the University of Chicago Hospital as well as tens of millions for cancer research and village clinics throughout his native China.
Am I the only one who has noticed that a disproportionate number of these “NEWBOS” have made their fortunes on the backs of the blacks (many of them kids) down near the bottom of the economic ladder, many of whom spend their government welfare checks for the overpriced CDs, DVDs, FUBU clothing, pay-per-view sporting events, etc.?
And while these may be nominally voluntary exchanges, many of those on the purchaser side are high school drop outs who don’t have the intellectual firepower to make quality choices vis-a-vis their resources and are easily swayed by peer pressure.
I don’t hear anything from obama about capping their salaries.
Given 0bama’s tax policies, the author should change the title to “The Rise and Fall...”
“Overclass”?
only leftards could think like this. they are a scourge on decent humanity.
Will someone TiVO the part about Michael Vick, MC Hammer and Tupac for me?
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