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2 months ago

Juneteenth Reignites Calls to Build Generational Wealth Among Black Households

Cheddar News
Cheddar News
Juneteenth is celebrated as a day of liberation, and now some are calling for the holiday to spotlight financial freedom. The median net worth of Black families in the U.S. at about $24,000, compared to white families at $188,000, according to a Federal Reserve study, sparking a conversation to help build generational wealth for Black households on the recently added federal holiday. Alfred Edmond Jr., the SVP and the executive editor-at-large of Black Enterprise, joined Cheddar to discuss wealth-building tips. ”We need to think about investing more in black-owned businesses. We need to challenge both public government and corporations to invest in the growth and the scale of black-owned businesses so that you have a kind of a force multiplier effect when it comes to jobs and capital creation," he said.