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Home Buying Black Black Managed Isn't The Same As Black Owned

Black Managed Isn’t The Same As Black Owned

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Employees of businesses don’t get wealthy and they certainly don’t have the power to create wealth for anyone else. Employees get paid to do a job, period. Business owners, however, are in a position to create wealth for themselves and potentially, build greater opportunities for others. Employees simply can’t do those things, something you should never forget. When you see a high ranking Black face working as an employee, just know that person is still under someone else’s control.

Company X just got their first Black CEO. This Black woman just became the Chief Marketing Officer for this Fortune 500 company. A Black man now serves as the Creative Director for this firm. These represent typical headlines that Black people celebrate. In one sense, the celebration is appropriate — Black individuals advancing is a great thing. In the larger sense, however, individual achievement does little to uplift the group. A highly ranked Black individual is, ultimately, positioned to enrich the white institution they work for. They can’t pass their position on to their descendants, nor do they have the authority to use their position to explicitly empower Black people or institutions. Sure, they may get to buy some supplies from a Black vendor here or there — which is great — but they will always be limited.

Black ownership matters. Black business owners can pass down their business and while they own it, actually create wealth for themselves. Black business owners can support other Black owned businesses with their purchasing power. Black business owners can support Black political causes and donate to organizations that work explicitly for Black uplift. Employees can only work for their check and hope to remain in good favor with their bosses. Even Black CEOs serve at the pleasure of shareholders, which means they are still under the control of others. Don’t be fooled, Black managed is not the same as Black owned.

It’s great when Black individuals advance. Cheer for them but still seek out truly Black owned companies. Further, corporations know that Black people spend money and so it makes sense to market to them. Part of the marketing strategy, at times, is to present a Black face. Black faces in high places have a way of galvanizing Black consumers. It’s a brilliant strategy and it actually works but it does little to increase Black wealth. Black managed is not Black owned and we should never settle for less.

Are you following We Buy Black’s 2020 Blueprint for Black Power?? Click here for more.

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D'Juan Hopewell
I care about Black Power. Period. Currently working on creating jobs and funding new startups on the South Side of Chicago and writing here and there at HopewellThought.com. Follow me @HopewellThought.
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3 COMMENTS

  1. Scotlandville used to be an all black town across the track from Southern Univ. A&M college in Baton Rouge La. Now there are hardly no black owned businesses and the are mostly owned by other people who don’t live there. I don’t know if any of the black men in business are doing anything to re-build this historical sight for our children.
    SU students go to Tiger Town (LSU) to spend there money. THIS COULD BE A GOLD MINE for SU Jaguars. I hope somebody will invest in this town and bring it back to a black community.

  2. Black Afrikan companies should be for us ONLY and NOT sell to others. Also, they shouldn’t have beasts on the staff or board AT ALL.

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