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Entrepreneur Creates ‘Raising Black Millionaires’ Flashcards To Teach Youth About Building Wealth

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Representation is everything. In an effort to teach children about the importance of entrepreneurship and building wealth, a Black-owned media company based in New Orleans created a flashcard game that highlights the journeys of Black millionaires and billionaires, the Chicago Defender reported. The cards—which are a part of a collection dubbed Raising Black Millionaires Flashcards—features the stories of 52 entrepreneurs and business moguls who have garnered wealth across different industries. Each card includes the individual’s backstory and the awards and accomplishments that they’ve made throughout their careers. Entrepreneur Thiah Veona Muhammad, who created the cards, believed it was important for children to see examples of Black wealth outside of the entertainment and sports industries. “I think it’s imperative that we, as Black people, know who our millionaires and billionaires are, more specifically those who are in business and are non-entertainers/athletes,” Muhammad said in a statement, according to the news outlet. “Showing them real examples of people who look like them, making millions in various industries will not only help them to identify themselves as people of greatness, but it will introduce them to industries that they likely have never been exposed to before, giving them more career choices.” Amongst the business

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Facebook commits $200 million to Black-owned businesses and organizations

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  • Facebook on Thursday announced it will commit $200 million to Black-owned businesses and organizations.
  • Facebook will also commit to increase the representation of people of color in the company’s leadership positions by 30%, including 30% more Black people, COO Sheryl Sandberg said.

Facebook on Thursday announced it will commit $200 million to Black-owned businesses and organizations.

“The past few weeks have compelled us to confront the reality of violence and injustice which members of the Black community face on a daily basis,” Facebook COO Sheryl Sandberg wrote in a post announcing the company’s initiative. “We have shared words of support for our friends, colleagues and communities. We need to take action as well.”

Read more @ CNBC.com

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HOW TO NEGOTIATE FEARLESSLY—EVEN IN TOUGH TIMES

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In her first book, negotiation guru Mori Taheripour offers readers more than a decade of expertise honed as both a faculty member at the Wharton School of Business and adviser to organizations such as the NFL and Goldman Sachs 10,000 Small Businesses program. Even in the midst of economic crisis, she insists, it’s important to negotiate—and to get creative about how.

Negotiations become more, not less, critical at times like these, when the economy is struggling and unemployment is running high. Whether you’re setting a price for your side hustle, or bargaining with clients or an employer seeking to downsize your regular pay, while you may not have much leverage in the moment, setting the stage for the comeback is key.

“It’s important to make sure that your clients don’t expect deep discounts to continue,” she says.

Read full story at Black Enterprise

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The Black Tax: Why African Americans Must Work Harder to Build Wealth

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After 400 years in this country, black families hold a fraction of the wealth of white families. And that is due, in part, to what is referred to as the “black tax.”

The term “black tax” is commonly used in South Africa, where it refers to the financial support that black professionals are expected to give their extended families. In the U.S. it also describes the racial dimensions that perpetuate a cycle of inequality such as lower pay and a lower standard of education.e

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