Police brutality and economic inequality are on the minds of everyday Black people across the country. Rich white people generally don’t care much.
But are the wealthy Black elite – often shielded from the worst aspects of racial injustice – as concerned as the rest of us?
Wealthy white people work to expand their wealth above all else. But, it turns out, we’re just not the same! Black wealthy people dedicate much more of their wealth to philanthropy, for example.
But that’s not all.
There aren’t many very wealthy Black families – less than 2% of Black families are worth more than $1 million, compared to 15% of white families. But their impact can be huge.
“[E]ven the wealthiest align with street protesters in their fury over threats and harassment from police,” reports the Economist. And many put their money where their mouths are.
The Black Economic Alliance PAC and Collective PAC are political action committees created to leverage Black wealth toward building political and economic power.
These groups are important; wealthy Black people tend to donate to charities rather than to politics. But political donations can also have massive impacts.
White supremacy would rather we greedily aligned ourselves solely with money. But the Black wealthy show that we love our people at least as much as we love getting paid!