Blacks have had the opportunity to build generational wealth for at least 75 years, but really going back further even with segregation.
And it seems like modern blacks squander that generational wealth in one to two generations. The kids of Will and that bitch Smith are absolute fuckups. Lenny Kravitz' daughter is a B or C list celebrity. Samuel Jackson (who has recently cucked defending Brie Larson) has no offspring that are creating any kind of punch to continue his acting career legacy, etc.
What do you think will happen to Oprah's money once she passes? She has no children. Hers is somewhat understandable - apparently she was raped when she was 14 and the kid she had premature and died (imagine that, she didn't choose to get an abortion).
But regardless - the pattern continues Generational wealth isn't passed on, it isn't built upon, and it continues to get reclaimed by well, some group of people that some of folks here might dare I say are a tribe upon themselves.
"They know they have things to fall back on, but it’s not going to be that easy. In order to get my cheese, you have to present me with two degrees. So, I just keep them motivated and keep them happy,” the former Lakers star told 7NEWS Australia when talking about what he expects out of his children.
[...]
I’m teaching about generational wealth right now. I tell them all the time we don’t need another NBA player in the house. If you want to play, I can help you get there. I would rather see a doctor, dentist, hedge fund guy, a veterinarian, or a world traveler.
That three generations thing is pretty well established although I’m sure there are exceptions but I read an article once going over how many white males got rich and the fortune was lost by the time it got to their grandchildren so the “generational wealth” is a terrible excuse
I may have misspoken, but I was focusing on black people. It feels like they have a really hard time hanging onto generational wealth if they happen to make it. Generational wealth among whites and Asians lasts 3 generations, but among blacks it's often lost immediately to the next generation.
Oh. I get that. I was just saying you can find heirs who blow a fortune due to bad decisions. But yes on average blacks have worse spending and saving habits. I saw a YouTube video of this black lady who was a bank officer and stated it plainly that her white customers generally have better savings and make better choices whereas her black customers didn’t or burned through any money they did have. She said especially now it makes no sense because there are so many resources today regarding finance advice.
And it seems like modern blacks squander that generational wealth in one to two generations. The kids of Will and that bitch Smith are absolute fuckups. Lenny Kravitz' daughter is a B or C list celebrity. Samuel Jackson (who has recently cucked defending Brie Larson) has no offspring that are creating any kind of punch to continue his acting career legacy, etc.
What do you think will happen to Oprah's money once she passes? She has no children. Hers is somewhat understandable - apparently she was raped when she was 14 and the kid she had premature and died (imagine that, she didn't choose to get an abortion).
But regardless - the pattern continues Generational wealth isn't passed on, it isn't built upon, and it continues to get reclaimed by well, some group of people that some of folks here might dare I say are a tribe upon themselves.
Meanwhile, here's basketball man Shaq, apparently trying to instill the value of work in his kids.
That three generations thing is pretty well established although I’m sure there are exceptions but I read an article once going over how many white males got rich and the fortune was lost by the time it got to their grandchildren so the “generational wealth” is a terrible excuse
I may have misspoken, but I was focusing on black people. It feels like they have a really hard time hanging onto generational wealth if they happen to make it. Generational wealth among whites and Asians lasts 3 generations, but among blacks it's often lost immediately to the next generation.
Oh. I get that. I was just saying you can find heirs who blow a fortune due to bad decisions. But yes on average blacks have worse spending and saving habits. I saw a YouTube video of this black lady who was a bank officer and stated it plainly that her white customers generally have better savings and make better choices whereas her black customers didn’t or burned through any money they did have. She said especially now it makes no sense because there are so many resources today regarding finance advice.