This paper examines the 2016 and 2024 net worth of the 2011 Root Magazine’s 100 most influential young Black Americans aged 25 to 45. In 2016, the net worth of 45 honorees was $3.288 billion. On September 1, 2024, that figure increased by $5.16 billion to $8.448 billion. The net worth of 31 male honorees in 2016 was $2.351 billion. In 2024, that figure for 33 of them increased to $6.589 billion. The net worth of 14 female honorees in 2016 was $937 million. In 2024, that figure for 15 of them increased to $1.859 billion. In 2016, 8 honorees had a net worth of $100 million or more (5 men and 3 women). In 2024, 12 honorees had a net worth of $100 million or more (7 men and 5 women). None of the honorees was a billionaire when they were selected for the 2011 Root 100. In 2024, three of them are billionaires: Shawn Carter (Jay-Z), $2.5 billion, Tyler Perry, $1.4 billion, and LeBron James, $1.2 billion. In 2016, Beyonce was worth $450 million. On September 1, 2024, her net worth increased to $760 million. Two important interrelated factors presented for this great achievement are a substantial increase in the Black American population, which stood at 50.1 million in 2022; and an increase in the higher education attainment of the Black population. Some interrelated implications presented for this great achievement are: an increase in charitable donations in the Black community, an increase in the number of college scholarships for young Black Americans, an increase in the political, economic, and social influence of Black Americans, and strong advocacy for Black Americans by honorees of the 2011 and other cohorts of the Root 100.
References
[1]
Alexander, J. (2021). Celebs Gone Good: How Black Philanthropists Are Giving Back. The Grio. https://thegrio.com/2021/11/26/celebs-black-philanthropists-giving-back/
[2]
ARCH20 (2024). 10 Renowned Architects from a Basic Architect Salary to the Richest in the World. https://www.arch2o.com/10-architects-from-a-basic-architect-salary-to-the-richest-in-the-world/
[3]
Asante-Muhammad, D., & Gray, E. (2023). The Racial Wealth Divide and US Black Billionaires. National Community Reinvestment Coalition (NCRC). https://ncrc.org/the-racial-wealth-divide-and-us-black-billionaires/
[4]
Ashley, S., & James, J. (2018). Despite the Racial Wealth Gap, Black Philanthropy Is Strong. Urban Institute. https://www.urban.org/urban-wire/despite-racial-wealth-gap-black-philanthropy-strong
[5]
Boatwright, D., & Salinas Jr., C. (2023). The Intimacy of Black Philanthropy: A Portraiture Study of Black American Alumni Giving to a Predominantly White Institution Historically Associated with Slavery. Philanthropy & Education, 7, 1-24.
[6]
Buchmann, C., & DiPrete, T. A. (2006). The Growing Female Advantage in College Completion: The Role of Family Background and Academic Achievement. American Sociological Review, 71, 515-541. https://doi.org/10.1177/000312240607100401
[7]
Characteristics of Postsecondary Faculty (2024). National Center for Education Statistics (NCES). https://nces.ed.gov/programs/coe/pdf/2024/CSC_508c.pdf
[8]
Chen, W. D. (2023). Donors of Color: A Systematic Literature Review of Charitable Giving across Diverse Communities. Philanthropy & Education, 7, 34-54.
[9]
Cho, D. J. (2021). Black Celebrities Who Uplift Communities and Give Back in a Big Way. People. https://people.com/celebrity/black-celebrities-who-give-back/
[10]
Elu, J. (2000). Human Development in Sub-Saharan Africa: Analysis and Prospects for the Future. Journal of Third World Studies, 17, 53-71.
[11]
Elu, J. U., & Price, G. N. (2010). Does China Transfer Productivity Enhancing Technology to Sub-Saharan Africa? Evidence from Manufacturing Firms. African Development Review, 22, 587-598. https://doi.org/10.1111/j.1467-8268.2010.00260.x
[12]
Elu, J. U., Ireland, J., Jeffries, D., Johnson, I., Jones, E., Long, D., et al. (2019). The Earnings and Income Mobility Consequences of Attending a Historically Black College/University: Matching Estimates from 2015 U.S. Department of Education College Scorecard Data. The Review of Black Political Economy, 46, 171-192. https://doi.org/10.1177/0034644619866201
[13]
Finkelstein, M. J. (1984). Women and Minority Faculty. In M. J. Finkelstein (Ed.) ASHE Reader on Faculty and Faculty Issues in Colleges and Universities (pp. 66-97). Ginn Press.
[14]
Finkelstein, M. J., Seal., R. K., & Schuster, J. H. (1998). The New Academic Generation: A Profession in Transformation. Johns Hopkins University Press.
[15]
Folarin, O., & Raifu, I. A. (2022). Attaining Sustainable Development Goals (SDGs): New Evidence on Foreign Aid and the “Bundling” of Domestic Revenue Mobilization in Sub-Saharan Africa. The Review of Black Political Economy, 50, 341-360. https://doi.org/10.1177/00346446221145934
[16]
Ford, D. Y., Wright, B. L., Sewell, C. J. P., Whiting, G. W., & Moore III, J. L. (2018). The Nouveau Talented Tenth: Envisioning W.E.B. Du Bois in the Context of Contemporary Gifted and Talented Education. The Journal of Negro Education, 87, 294-310. https://doi.org/10.7709/jnegroeducation.87.3.0294
[17]
Fullwood, V., & Thomas Jr., & Charles, W. (2011). Giving Back: A Tribute to Generations of African American Philanthropists (365 p.). Blair Publisher.
[18]
Fyfe, Q. (2022). How Celebrity Net Worth Uses Original Research to Get 16 Million Visitors a Month. Niche Pursuits. https://www.nichepursuits.com/celebrity-net-worth/
[19]
Hale, K. (2022). Millionaire Status Is on the Rise with 5.2 Million People Joining the Club. Forbes Magazine. https://www.forbes.com/sites/korihale/2022/10/25/millionaire-status-is-on-the-rise-with-52-million-people-joining-the-club/
[20]
Joe, E. M., & Davis, J. E. (2009). Parental Influence, School Readiness and Early Academic Achievement of African American Boys. The Journal of Negro Education, 78, 260-276, 362-363.
[21]
Kaba, A. J. (2004). Africa-U.S. Partnership in the 21st Century. Chimera, 2, 18-25.
[22]
Kaba, A. J. (2005). Africa, America and UN Security Council Reform: The U.S. Must Lead the Movement to Award the African Union a Permanent Seat on the Security Council. African Renaissance, 2, 39-47.
[23]
Kaba, A. J. (2006a). Population Increase, Environment, Food Access and Development in Africa: The Role of the African Union. Journal of African Policy Studies, 12, 42-68.
[24]
Kaba, A. J. (2006b). Kenya-U.S. Relations: The Urgent Need to Manage Kenya’s Migrant and HIV-AIDS Brain Drain. Journal of Pan African Studies, 1, 79-86.
[25]
Kaba, A. J. (2007a). The Black World and the Dual Brain Drain: A Focus on African Americans. Journal of African American Studies, 11, 16-23. https://doi.org/10.1007/s12111-007-9008-3
[26]
Kaba, A. J. (2007b). The Two West Africans: The Two Historical Phases of the West African Brain Drain. Journal of Pan African Studies, 1, 77-92.
[27]
Kaba, A. J. (2008). Religion, Immigration and Assimilation: The Hispanic/Latino Population in the United States and the North African/Muslim Population in Europe. Asian Journal of Latin American Studies, 21, 69-102.
[28]
Kaba, A. J. (2009a). Demographics and Profile: The Most Cited Black Scholars in the Social Sciences, Arts and Humanities. Journal of Pan African Studies, 3, 153-207.
[29]
Kaba, A. J. (2009b). Africa’s Development in the Era of Barack Obama: The Role of the African Union. Journal of Pan African Studies, 2, 101-116.
[30]
Kaba, A. J. (2009c). The Numerical Distribution of Muslims in Africa. American Journal of Islamic Social Sciences, 26, 1-23. https://doi.org/10.35632/ajiss.v26i3.381
[31]
Kaba, A. J. (2010a). Educational Attainment, Population Increase and the Progress of African Americans. Journal of Pan African Studies, 3, 106-127.
[32]
Kaba, A. J. (2010b). Michelle Obama and the Black Female Diaspora: The Most Influential Black Woman in History? African Renaissance,7, 41-59.
[33]
Kaba, A. J. (2011a). Black American Females as Geniuses. Journal of African American Studies, 15, 120-124. https://doi.org/10.1007/s12111-010-9134-1
[34]
Kaba, A. J. (2011b). Interethnic/Interracial Romantic Relationships in the United States: Factors Responsible for the Low Rates of Marriages between Blacks and Whites. Sociology Mind, 1, 121-129. https://doi.org/10.4236/sm.2011.13015
[35]
Kaba, A. J. (2011c). African American Women Voters: Review Article. The Review of Black Political Economy, 38, 183-203. https://doi.org/10.1007/s12114-011-9092-4
[36]
Kaba, A. J. (2011d). African Americans in the National Basketball Association (NBA), 2005-2006: Demography and Earnings. International Journal of Social and Management Sciences, 4, 1-25.
[37]
Kaba, A. J. (2011e). The Family and Political Unity between Blacks and Jews in the United States. International Journal of Humanities and Social Science, 1, 167-177.
[38]
Kaba, A. J. (2011f). Race, Conquest and Revenge: Why Do Black People Resist Racial Revenge? International Journal of Humanities and Social Science, 1, 92-106.
[39]
Kaba, A. J. (2012a). Talented Tenth: An Analysis of the 2011 Root Magazine’s 100 Most Influential Young Black Americans. International Journal of Humanities and Social Science, 2, 1-31.
[40]
Kaba, A. J. (2012b). African Americans in the US Women’s National Basketball Association, 2006: From the NCAA to the WNBA. Sociology Mind, 2, 95-108. https://doi.org/10.4236/sm.2012.21013
[41]
Kaba, A. J. (2012c). Black Americans and Interracial Marriage: A Focus on Black Women. Sociology Mind, 2, 407-427. https://doi.org/10.4236/sm.2012.24054
[42]
Kaba, A. J. (2012d). The Exclusion of Black Women from National Leadership Positions in the United States: Taxation with Limited Representation. Sociology Mind, 2, 133-140. https://doi.org/10.4236/sm.2012.22017
[43]
Kaba, A. J. (2013a). Black Americans, Gains in Science and Engineering Degrees, and Gender. Sociology Mind, 3, 67-82. https://doi.org/10.4236/sm.2013.31012
[44]
Kaba, A. J. (2013b). Profile of Contributors to the American Political Science Review, 2010. Journal of Politics and Law, 6, 54-82. https://doi.org/10.5539/jpl.v6n2p54
[45]
Kaba, A. J. (2014a). A Statistical Report on the Educational Attainment Status of Black Americans. African Renaissance,11, 79-100.
[46]
Kaba, A. J. (2014b). The Paradoxes of Africa’s Development: African Union’s Contributions to Africa’s Recent Achievements, 2005-2014. Journal of African Foreign Affairs, 1, 55-72.
[47]
Kaba, A. J. (2015). Contributors to the American Sociological Review, 2010. Sociology Mind, 5, 114-146. https://doi.org/10.4236/sm.2015.52012
[48]
Kaba, A. J. (2016a). Conceptualizing Tolerance as Recognition: Black American Endowed and Distinguished Professors of Education in US Colleges and Universities. Sociology Mind, 6, 1-31. https://doi.org/10.4236/sm.2016.61001
[49]
Kaba, A. J. (2016b). Africa: Development Challenges and Possibilities. Pan African University Press.
[50]
Kaba, A. J. (2017a). Inheritance: The Net Worth of the 2011 Root Magazine’s 100 Most Influential Young Black Americans. African Renaissance, 14, 139-170. https://doi.org/10.31920/2516-5305/2017/v14n1_2a8
[51]
Kaba, A. J. (2017b). America’s ‘Great Immigrants’: An Analysis of Carnegie Corporation’s Honorees, 2006-2015. Adonis & Abbey Publishers Ltd.
[52]
Kaba, A. J. (2017c). Explaining the High Cost of Higher Education to Black Americans: A Focus on Black American Women. Sociology Mind, 7, 171-196. https://doi.org/10.4236/sm.2017.74012
[53]
Kaba, A. J. (2017d). Educational Attainment, Citizenship, and Black American Women in Elected and Appointed National Leadership Positions. The Review of Black Political Economy, 44, 99-136. https://doi.org/10.1007/s12114-017-9245-1
[54]
Kaba, A. J. (2018). The Black American Gender Gaps: American Citizenship, Educational Attainment, and National Leadership Positions. Pan-African University Press.
[55]
Kaba, A. J. (2019). United States Immigration Policies in the Trump Era. Sociology Mind, 9, 316-349. https://doi.org/10.4236/sm.2019.94021
[56]
Kaba, A. J. (2020a). Macarthur Fellows, 1981-2018: Gender, Race and Educational Attainment. Sociology Mind, 10, 86-126. https://doi.org/10.4236/sm.2020.102008
[57]
Kaba, A. J. (2020b). Explaining Africa’s Rapid Population Growth, 1950 to 2020: Trends, Factors, Implications, and Recommendations. Sociology Mind, 10, 226-268. https://doi.org/10.4236/sm.2020.104015
[58]
Kaba, A. J. (2022). The Numbers and Percentages of Christians and Muslims in Africa. International Journal of African Catholicism, 12, 18-40.
[59]
Kaba, A. J. (2024a). West Africa’s Development, the West African Diaspora, and Preparation for Future Pandemics: The Need for an ECOWAS University System. Sociology Mind, 14, 69-94. https://doi.org/10.4236/sm.2024.141005
[60]
Kaba, A. J. (2024b). The Migration of Black People to Regions in Africa with Temperate Climates: Factors, Opportunities and Challenges. Current Urban Studies, 12, 356-380. https://doi.org/10.4236/cus.2024.123018
[61]
Kaba, A. J. (2024c). A Survey of the Geographic Area, Altitude, Coastline, and Climate of African Countries and Regions: Implications for Africa’s Development. Journal of Sustainable Development, 17, 57-80. https://doi.org/10.5539/jsd.v17n3p57
[62]
Kaba, A. J. (2024d). The Prevalence of Temperate Climates in Capital Cities across Africa: The African Union, the African Diaspora, and Africa’s Development. Current Urban Studies, 12, 215-242. https://doi.org/10.4236/cus.2024.122011
[63]
Kaba, A. J., & Kaba, A. N. (2020). COVID-19 in African Countries versus Other World Regions: A Review. African Journal of Reproductive Health, 24, 125-141.
[64]
Kimbro, D. (2013). The Wealth Choice: Success Secrets of Black Millionaires. St. Martin’s Griffin.
[65]
Lauderdale, M. K., & Heckman, S. J. (2017). Family Background and Higher Education Attainment among Children of Immigrants. Journal of Family and Economic Issues, 38, 327-337. https://doi.org/10.1007/s10834-017-9537-4
[66]
LuccaHealth (2024). https://www.luccahealth.com/
[67]
M’Cormack-Hale., F. A. O., & Kaba, A. J. (2015). The Obama Administration and U.S.-Africa Relations. Western Journal of Black Studies, 39, 238-255.
[68]
Mazrui, A. A., & Kaba, A. J. (2016). The African Intelligentsia: Domestic Decline and Global Ascent. Africa World Press.
[69]
McGee, N. A. (2024). Paying It Forward! Wealthy Black Celebs Who Give Back to the Community. The Root Magazine. https://www.theroot.com/surprising-philanthropic-black-celebs-who-keep-giving-b-1850602205
[70]
Mohamed, B., Cox, K., Diamant, J., & Gecewicz, C. (2021). Faith among Black Americans. Pew Research Center. https://www.pewresearch.org/wp-content/uploads/sites/20/2021/02/PF_02.16.21_Black.religion.report.pdf
[71]
Mouzon, D. M., Taylor, R. J., & Chatters, L. M. (2020). Gender Differences in Marriage, Romantic Involvement, and Desire for Romantic Involvement among Older African Americans. PLOS ONE, 15, e0233836. https://doi.org/10.1371/journal.pone.0233836
[72]
National Science Foundation (NSF) (2024a). Table 1-9 Male Research Doctorate Recipients, by Ethnicity, Race, and Citizenship Status: 2012-22. Survey of Earned Doctorates. National Center for Science and Engineering Statistics, NSF 24-300. https://ncses.nsf.gov/pubs/nsf24300/data-tables
[73]
National Science Foundation (NSF) (2024b). Table 1-10 Female Research Doctorate Recipients, by Ethnicity, Race, and Citizenship Status: 2012-22. Survey of Earned Doctorates. National Center for Science and Engineering Statistics, NSF 24-300. https://ncses.nsf.gov/pubs/nsf24300/data-tables
[74]
Price, G. N. (1994). The Cost of Government Deposits for Black-Owned Commercial Banks. The Review of Black Political Economy, 23, 9-24. https://doi.org/10.1007/bf02895738
[75]
Price, G. N. (1998). Black Colleges and Universities: The Road to Philistia? The Negro Educational Review, 49, 9.
[76]
Price, G. N., & Elu, J. U. (2017). Climate Change and Cross-State Islamist Terrorism in Nigeria. Peace Economics, Peace Science and Public Policy, 23, 1-13. https://doi.org/10.1515/peps-2016-0047
[77]
Price, G. N., & Viceisza, A. C. G. (2023). What Can Historically Black Colleges and Universities Teach about Improving Higher Education Outcomes for Black Students? Journal of Economic Perspectives, 37, 213-232. https://doi.org/10.1257/jep.37.3.213
[78]
Price, G., & Whatley, W. (2021). Did Profitable Slave Trading Enable the Expansion of Empire? The Asiento De Negros, the South Sea Company and the Financial Revolution in Great Britain. Cliometrica, 15, 675-718. https://doi.org/10.1007/s11698-020-00219-w
[79]
Sackeyfio, N., & Kaba, A. J. (2022). Gendering Environment and Climate Change in the Economic Community of West African States & the East African Community: Why Representation Matters. The Review of Black Political Economy, 49, 203-222. https://doi.org/10.1177/00346446211036762
[80]
Shrider, E. A., & Creamer, J. (2023). Poverty in the United States: 2022. United States Census Bureau. https://www.census.gov/content/dam/Census/library/publications/2023/demo/p60-280.pdf
[81]
Sullivan, B., Hays, D., & Bennett, N. (2024). Households with a White, Non-Hispanic Householder Were Ten Times Wealthier than Those with a Black Householder in 2021. United States Census Bureau. https://www.census.gov/library/stories/2024/04/wealth-by-race.html
[82]
Sutherland, J. W., Coleman, R., & Russell, J. (2023). African American Missionaries Serving Overseas: A Surprising Numerical and Demographic Analysis of US-Born Blacks in Missions. Missiology: An International Review, 51, 139-155. https://doi.org/10.1177/00918296231151612
[83]
United States Census Bureau (2021). Table 1. Educational Attainment of the Population 18 Years and Over, by Age, Sex, Race, and Hispanic Origin: 2012. Educational Attainment in the United States: 2022. https://www.census.gov/data/tables/2012/demo/educational-attainment/cps-detailed-tables.html
[84]
United States Census Bureau (2023). Table 1. Educational Attainment of the Population 18 Years and Over, by Age, Sex, Race, and Hispanic Origin: 2022. Educational Attainment in the United States: 2022. https://www.census.gov/data/tables/2022/demo/educational-attainment/cps-detailed-tables.html
[85]
United States Federal Reserve System (2024) Distribution of Household Wealth in the U.S. since 1989. https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:138;series:Net%20worth;demographic:race;population:all;units:levels
[86]
Warner, B. (2019). Celebrity NetWorth’s Statement Submitted to the House Subcommittee on Antitrust. Medium. https://medium.com/@brianwarner/celebritynetworths-statement-submitted-to-the-house-subcommittee-on-antitrust-788fff88723f
[87]
Williams, L. F. (2001). Chapter 16. The Civil Rights—Black Power Legacy: Black Women Elected Officials at the Local, State, and National Levels. In B. Collier-Thomas, & V. P. Franklin (Eds.) Sisters in the Struggle (pp. 306-332). New York University Press.
[88]
Wilson (2024). Serena Williams’ 23 Grand Slams in Pictures. https://www.wilson.com/en-us/blog/tennis/throwback/serena-williams-23-grand-slams-pictures
