NEWBOs: America’s New Multi-Millionaires (Full Video)

Posted: February 26th, 2009 | Author: yosef | Filed under: News | Tags: NEWBOs | 282 views

Tonight at 10PM PT, CNBC will be airing a special called “NEWBOs: The Rise of America’s New Black Overclass.” The story is based on Lee Hawkins’ (Reporter for the Wall Street Journal and CNBC) forthcoming book with the same title. I find this to be a pretty interesting topic, especially during a time when the majority of African Americans are struggling through a “Great Recession.”

Here’s a snippet from Lee Hawkins’ book:
“The new moguls made their millions under the age of 40, primarily by taking more ownership and control over their brands than their predecessors. Collectively, black athletes in the NFL, NBA, and in Major League Baseball earned nearly $4 billion last year and the nation’s 20 highest-paid hip-hop entrepreneurs brought in more than $500 million. Now, with their newfound wealth come responsibilities to their family, friends, and community.”

Here’s the Trailer:

Hopefully WorldStarHipHop.com will upload the whole special so I can embed it on the blog. Stay tuned…

UPDATE: Here’s the full version: