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Advice for the next generation on overcoming inequity


Black History Day CNBC Invest in You is featuring weekly stories from CNBC contributors and members of the Financial Wellness Council, including the lessons they’ve learned growing up, their advice to Black youth, their inspirations and how they are working to close the racial wealth gap.

Americans returning to work are not equal, despite the fact that there is evidence of the decline in the omicron wave. On Friday, the Labor Department released a stunning jobs growth report that surpassed all expectations. While the overall January unemployment rate edged up slightly to 4.4% for all workers, it was still higher for Black workers. unemployment rateIt is still much lower than January’s 6.9%.

People of color have suffered a severe impact from the coronavirus epidemic. There is still uncertainty about how long the pandemic will last. CNBC spoke to Black leaders recently about their most memorable career moments, and the lessons that they have learned. This information can be used to help young generations succeed.

BET founder, chairman of The RLJ Companies Robert JohnsonHe was America’s first black billionaire, when he sold BET (formerly known as BET) to Viacom in 2001.

He started Black Entertainment Television with a $15,000 loan in 1980, and in 1991, he launched it as a public company — the first African-American-owned firm traded on the New York Stock Exchange.

Entrepreneurs have a special gene. It’s a desire to do things others might not believe possible. Johnson tells CNBC that my inspiration was from having confidence in myself, as well as friends who supported me to become the best version of myself. And I feel that more Black Americans would be able to achieve the success I’ve achieved if they had this encouragement, and had that level of support, Johnson tells CNBC.

She began her career with the Central Intelligence Agency in the first part. Helima Croft transitioned to Wall Street and is managing director and global head of commodity strategy at RBC Capital Markets in New York.

She is the daughter a long-standing civil rights activist Howard CroftHe died in June 2020 from complications caused by coronavirus. 

Croft sees Black History Month as an occasion to remember the sacrifices of those who are like her father.

Black History Month is very important to me. She tells CNBC that it’s a time for deep reflection, as I reflect on the people who risked their lives to ensure that we enjoy the freedoms and rights that we enjoy today.

Rosa Parks was just one example of the individuals, but so were many other foot soldiers who sacrificed their lives in pursuit for racial equality. My father Howard Croft was a prominent civil rights leader and went to prison on numerous occasions. “I think about all the individuals who took great risks to bring us here today.”

Rising interest rates may be causing demand to slow down for mortgage refinancing, but the industry faces a more significant problem – discrimination.

Based on to some expertsBlack homes are less expensive than similar neighborhoods in white areas by 23% or $48,000. Morgan Stanley estimates that racial housing inequality costs nearly 800,000 jobs and $400 billion in tax revenue. America needs to have a high level of homeownership for future generations.

CNBC contributor David HendersonLast year, Henderson was subject to the same discrimination while his house was appraised. Henderson recalls that his wife and he had their house appraised two times last year to sell it. The second appraisal was almost $50,000 more than the first. “What changed? We were at home the first time. We made sure we were not the second time. We also took all of the photos of our families and ourselves.

His message to other Black Americans – discrimination still exists and you can’t fix what you don’t acknowledge. It is important to recognize the existence of such discrimination and acknowledge it.

More than 25 years’ experience in financial services and investment administration industries Greg BranchShe is an accomplished leader who hopes fellow Black leaders will continue pushing for the advancement of their communities.

A CNBC contributor and founder & managing partner of Veritas Financial Group, Branch knows that today’s leaders can inspire the next generation of leaders. Branch reminds future and current leaders that they can inspire the next generation of leaders. CNBC’s Jeremy tells CNBC, “Your example can help expand horizons.

Branch encourages leaders to keep sharing their success stories. It can be motivating to hear about your journey and help you develop the skills and discipline necessary for taking advantage of tomorrow’s and today’s opportunities. This is the best tool we have to help the Black community.

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Disclosure: Comcast Ventures and NBCUniversal are both investors Acorns.