Though the city of Atlanta is know for producing many Black millionaire’s, the same can’t be said for creating a plethora of Black billionaire’s. In fact Tyler Perry is the only African American person ini Georgia to be noted on Forbes list.
America’s Black billionaires represent an array of industries and business ventures, the bulk of their wealth came from the sports or entertainment industries. The people on this list are worth $54.9B combined.
Creator driven Fintech platforms are helping content experts monetize directly as this industry could roughly double in size and reach $480B by 2027.
Art collectors are adjusting their investment strategies downwards because of the unpredictable and ongoing economic changes. 2023 saw them slash their investment portfolios to 19% from 24% in 2022. This takes a toll on the already declining Black artists’ representation in global auction sales which currently stands at at 1.9% from 2008 to mid-2022.
Welcome to CultureBanx, where we bring you fresh business news curated for hip hop culture!
