Remember how Chris Rock said well-to-do Black folks are just rich, not wealthy. Well, CNBC is airing a documentary about some wealthy Black folks.
“NEWBOs: The Rise of America’s New Black Overclass” follows seven Black men (sorry, no Oprah) who all become self-made millionaires before they turned 40 years old. Now, each of them is building wealth for future generations.
All of the men featured tonight have made their fortunes through entertainment, (whether it be sports, music or TV). However all of them know the importance of investing in themselves and the community.
BET founder Bob Johnson, America’s first Black billionaire, also stresses the importance of working together.
No matter how you feel about Terrell “T.O.” Owens, the NFL wide receiver has done well for himself and has no problem giving back. In fact, he told CNBC that he feels a responsibility to the Black community. He even created the Catch a Dream Foundation to help families in need.
Ronald “Slim” and Bryan “Baby” Williams, owners of Cash Money Records, are also profiled in the documentary. They set a new standard in the music industry when they insisted on owning the master copies of their music. In “NEWBOs,” Baby talks about what it means to be “hood rich” and why he feels the need to flaunt his wealth.
LeBron James, Kirk Franklin and MLB player Toni Hunter are also profiled in “NEWBOs: The Rise of America’s New Black Overclass.” Catch the show when it premieres February 26 at 9 p.m. on CNBC.
– Sonya Eskridge