What Happened to the 1980s’ Promise of Black Prosperity?
From Bloomberg
John Rogers was a Wall Street pioneer during a decade of Black advancement, but his success reveals a divide within Black America that has only grown wider.
Many Americans worry about the wealth gap between Black and White America. Less noticed is a divide that has grown even faster: the one within Black America. The top 10% of Black earners now make almost 10 times what the bottom 10% make, a wider gap than among Whites or Hispanics. That statistic is the starting point for understanding the paradox of John Rogers, one of the wealthiest Black money managers on Wall Street.
In the fall of 1983, the 25-year-old Princeton graduate walked into his boss’s office at William Blair, one of Chicago’s most prestigious investment firms, and announced...
Read the full article on Bloomberg ...
