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[Forbes] The Wealthiest Black Americans May 7, 2009

Posted by ced S in News, Tribute.
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Forbes: First off as usual we have Oprah… after that there is only one rapper to make the list, couple entertainers, and a hand full of athletes… The rest are business personal….Now watch me work my way on this list…

1. Oprah Winfrey
Net worth: $2.7 billion
Source of wealth: Harpo Productions
Residence: Chicago
Age: 55

***In personal finance, net worth (or wealth) refers to an individual’s net financial position; similarly, it uses the value of all assets minus the value of all liabilities (debt).*** meaning they may have more cash then this list solicits…

#2 through 19 after the jump

tiger-woods-baby-10
#2 Tiger Woods
Net worth: $600 million
Source of wealth: Golf, endorsements
Residence: Orlando, Fla.
Age: 33

Bush
#3 Robert Johnson
Net worth: $550 million
Source of wealth: BET, investments
Residence: West Palm Beach, Fla.
Age: 63

michael-jordan-r
#4 Michael Jordan
Net worth: $525 million
Source of wealth: Basketball, Nike, endorsements
Residence: Chicago
Age: 46

earvin_magic_johnson
#5 Earvin “Magic” Johnson, Jr.
Net worth: $500 million
Source of wealth: Restaurants, real estate, investments
Residence: Beverly Hills, Calif.
Age: 49

#6 William Henry Cosby, Jr.
Net worth: $450 million
Source of wealth: The Cosby Show, entertainment
Residence: Massachusetts
Age: 71

#7 Sheila Johnson
Net worth: $400 million
Source of wealth: BET, investments
Residence: The Plains, Va.
Age: 60

#8 R. Donahue Peebles
Net worth: $350 million
Source of wealth: Real estate
Residence: Coral Gables, Fla.
Age: 49

#9 Quintin Primo III
Net worth: $300 million
Source of wealth: Real estate
Residence: Chicago
Age: 55

#10 Don King
Net worth: $290 million
Source of wealth: Boxing promotion
Residence: Manalapan, Fla.
Age: 77

#11 Janice Bryant Howroyd & family
Net worth: $250 million
Source of wealth: Staffing, investments
Residence: Palos Verdes, Calif.
Age: 56

#12 Herman J. Russell
Net worth: $200 million
Source of wealth: Construction, real estate
Residence: Atlanta
Age: 78

#13 Ulysses Bridgeman, Jr.
Net worth: $200 million
Source of wealth: Restaurants
Residence: Louisville, Ky.
Age: 55

#14 Tracy Maitland
Net worth: $150 million
Source of wealth: Investments
Residence: New York City
Age: 48

#15 Shawn “Jay-Z” Carter
Net worth: $150 million
Source of wealth: Entertainment, investments
Residence: New York City
Age: 39

#16 Alphonse Fletcher, Jr.
Net worth: $150 million
Source of wealth: Investments
Residence: New York City
Age: 43

#17 Kobe Bryant
Net worth: $140 million
Source of wealth: Basketball, endorsements
Residence: Newport Beach, Calif.
Age: 30

#18 Shaquille O’Neal
Net worth: $130 million
Source of wealth: Basketball, endorsements
Residence: Phoenix
Age: 37

#19 Kenneth I. Chenault
Net worth: $125 million
Source of wealth: American Express
Residence: New Rochelle, NY.
Age: 57

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1. tiger_woods_2005_wife2 | Images Archive - June 14, 2009
2. Prosperity Game - September 8, 2009

Let’s Play Prosperity
According to the rules, ‘as a group: players set up game board, allot player pieces, determine player-turn order, and appoint a banker (comptroller); the banker distributes $700,000,000. as follows: (5) $100,000,000. bills, (13) $10,000,000. bills, (10) $5,000,000. bills, (18) $1,000,000. bills, (19) $100,000. bills, (9) $10,000. bills, and (10) $1000. bills. All players start at the corner square labeled Port Success, also known as ‘Start Here,’ then ‘progress’ clockwise on the board.’
‘Set a goal, as a group you set a goal to signal the end of the game before it starts, i.e.: the first person with a billion dollars in cash, two hour time limit, or use of half of the power cards.’ Apparently, without a goal, the game could go on aimlessly for days. ‘The very first property purchased must be the Real Estate Development office,’ seems like they hold an exclusive-right-to-sell every property on the board, well at least for the first sale, sweet deal euh? See what can happen when you make the rules?
Players are encouraged to always have a deal in mind, and reminded to keep all negotiations open and limited to one minute. ‘When a player lands on an available property he/she can buy it, not buy it, or sell his/her “right or option” to buy it.’ This rule enables players to create wealth without actual property ownership, this is another real-life learning lesson. More traditional deals involve the purchase of property with a mortgage, in this game ‘the entire loan, plus interest must be paid on or before any of that property’s owners land on the property or foreclosure must take place;’ sorry, no refinancing in Prosperity! Watch out because in Prosperity the government can forcibly take your property when it chooses to do so, although it’s for public purposes not for private gain, unlike what occurred recently in New London, Connecticut.
Back to the game, Prosperity doesn’t mean perfection; at times big problems occur, for example: although the “No Justice No Peace” card indicates a willingness to be incarcerated for a just cause; the ‘Arrested’ card indicates involuntary restraint. The State and Federal political influence (cards) can turn any horrific jail experience into a mere inconvenience. For those without political influence, they must gamble with the justice system, which includes an appeals process if necessary. Another problem card to avoid is ‘Ouch’, if selected you must pay 65% of your cash-on-hand for alimony and child support. Ohhhh, what you really don’t want to do is get the ‘Major Accident’ card and then Action Roll an 11 or a 12; nope, you don’t want that.
An ‘Action Roll is a throw of the dice to determine an action’, action rolls are necessary when multiple options are present (on specific properties, and/or on some power cards). If a player lands on a property such as the Utility Company, he/she must perform an Action Roll to determine the service (cable, phone, gas, oil, electric, etc…) and fee ordered. If a player selects a special Power Card such asTrip to Africa, Charitable Contribution, or Entertainment Contract, the Action Roll in conjunction with the special power card rules will determine the specific action. For example, if a player selects the Entertainment Contract Power Card then Action Rolls a 12, the player will ‘receive $7,000,000. for his/her R&B/Gospel/or Rap contract’.


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