Comments on: Lebron James: Rare Champ in Black Financial Independence.

By: Deeann D. Mathews

Deeann D. Mathews — Fri, 13 Jul 2012 00:25:05 +0000

This is an important article just now, with our people about to show mastery at the Olympics in a few weeks as well… we need to consciously move away from the whole mindset that we exist to generate wealth for other people and start bringing that wealth back to the community. I just watch the process and think to myself, “It’s like mental slavery.” Thanks for pointing up a brother who has found some measure of freedom!

By: Terrance Amen

Terrance Amen — Wed, 11 Jul 2012 06:53:02 +0000

My aplogies to the commenters. The people I mentioned are not the best examples of ownership. As sister hoodgirl said they are still exploited. My point was that ownership and knowing your value are keys to financial success. I guess the best example of what I’m talking about is Bob Johnson, founder of BET. Sankofa I think you’re wrong about him. He owned the majority of shares of BET. That’s why when he sold the company, he became the first Black billionaire. This is why it’s so important to become producers and control what we produce.

Power

By: ana

ana — Wed, 11 Jul 2012 05:08:36 +0000

Lebron seems to have a good head on him. Hope he stays focused and always educate himself about money and finances.Our Black Athletes,should educate themselves about money and finances,so that they don’t lose their wealth,and become victims of bankrupcty.

By: sankofa

sankofa — Wed, 11 Jul 2012 00:32:54 +0000

@Orlando, yeah it seems like he and his team were ahead of the game at such a young age. maybe that’s why the mainstream media keeps dogging Mavrick Carter and the rest of his team for giving Lebron “bad” advice?

At this stage in my life, i want to gie us the benefit of the doubt untill we really mess up, then chastise them for failing to do what every other ethnic group continually does, which is to take care of each other first.

If you contrast this artiicle with a previous one, on here, about our terrible sppending habits, you will see that we have a long way to go, before we can feel good collectively about wealth in our community.

By: Orlando

Orlando — Tue, 10 Jul 2012 20:25:56 +0000

http://findarticles.com/p/articles/mi_m1365/is_5_37/ai_n27091079/

Please read article from 6 years ago….
by Latesha Williams from Black Enterprise, who seems to have outlined it perfectly.

This is all i was asking for….but this is 6 years ago…so i guess it skipped a generational GAP, and looks like he was investing in real estate 6 years ago SANKOFA….thank you for the GAME behind the GAME explination.

would be nice to update information…im sure they are doing more than this.

By: hoodgirl

hoodgirl — Tue, 10 Jul 2012 19:50:08 +0000

I agree, OWNERSHIP is the key to financial independence. However, JZ, P Diddy and Russell Simmons are millionaires hired by Corporate Execs to extract billions from our community leaving it in further financial and moral distress.

Neither of these Clowns owns a music distributorship or a bank although brothers and sisters are walking around with a rushcard that Russell receives a kickback of the usurous fees charged by predatory banks for his role in the conspiracy to keep our community in financial ruins.

By: Terrance Amen

Terrance Amen — Tue, 10 Jul 2012 17:05:12 +0000

I guess you didn’t get the main point of the article. We as a community don’t know our value. Who do you think made this country great? It was our ancestors labor and genius that put this country on the map, and still today. From business to science, we continue to give our all and only receive left over scraps because we still don’t know our value. The game inside the game is ownership, producers rather then just endorsers and consumers. A buying power of a trillion dollars means nothing if you’re spending it in every community but your own.

My point is if people who don’t look like are bragging about the billions they made off you, when you only made millions, that’s not knowing your value. But Lebron is headed in the right direction in starting a company he can use to create opportunities for his self.If he continues on this path and has the longevity, he has the potential to become a billionaire. If you don’t agree that ownership is the key to financial success, ask JZ, P Diddy, Russell Simmons. When we finally unite as a people, we can all achieve financial independence and happiness.

Power

By: sankofa

sankofa — Tue, 10 Jul 2012 16:55:04 +0000

Just a quick note. Neither Michael Jordan currently or that BET guy before him were ever in control of their interests. They were/are at best majority shareholders with money the borrowed from other Caucasian people. Just like magic is called a owner of the Lakers, but 7% doesn’t qualify one for anything except door keeper in a billion dollar industry.

Orlando, not only did you unintentionally or intentionally miss the point of the article, but you are engaging in the defeatist attitude that many of us engage in (present company also at one time) of casting greater expectation on successful people from afar, without getting all the facts. Also Caucasian wealth is generational and their tentacles is far reaching. Please don’t expect Lebron to just arrive and do every or much of any of those things you mention.

He is still in the process of controlling his brand (very important) and consolidating as much of his personal wealth as possible. His wealth is not generational and neither is the training he would have had in order to embark on such grand and ambitious path in one swoop.

By: Orlando

Orlando — Tue, 10 Jul 2012 15:54:50 +0000

Please explain a little more “HOW” in business terms LRMR is accomplinshing what
Michael Jordan and his people could not do….please explain the GAME behind the GAME.
Is Lebron’s firm buying real estate, art, investing in America, investing in Europe?, Board of Directors on any Fortune 100 companies (US or ABROAD), purchasing a Fortune 500 companies, or purchasing any natural resources in Africa?…are they becoming major players in politics? please explain.

By: Realman

Realman — Tue, 10 Jul 2012 15:06:11 +0000

All black men should read “40 million dollar slaves” which is a book about the ignorance of black athletes and how they blow their fortunes away in a few short years. There’s a section in this book, or a follow up book, on Michael Jordan and how he had opportunities to do great things for the black community but decided to be a sellout/sambo for white business establishment.