Lecture Notes: Don Peebles and Black Excellence in America

Introduction

• Property developer Don Peebles is one of the wealthiest African Americans in the U.S., with a net worth of $700 million.
• Peebles reflects on the view of Manhattan, seeing it as a symbol of capitalism and opportunity.
• Originally from Washington, he became a real estate agent at 22, owned his first building shortly after, and was a millionaire by 30.

Personal Life

• Married to Katrina, a 54-year-old former model, now a businesswoman.
• The couple has been together for 27 years and shares a luxurious lifestyle.
• They own a 35-million-dollar apartment in Manhattan and a 12-million-dollar mansion in The Hamptons.

Professional Achievements

• Peebles has constructed buildings and neighborhoods across the country.
• Nicknamed "the black Donald Trump."
• Continues working almost every day of the year.

African American Millionaires

• The number of African-American millionaires has doubled in the past 25 years; now 1 in 50 black families are millionaires.
• The rise of a new black bourgeoisie.

Case Study: Psyche Terry

• Psyche Terry, creator of a cosmetics brand, is now worth $10 million.
• Her products cater primarily to black women but are inclusive.
• Psyche's brand is among America's 5,000 fastest-growing companies.
• The Terry family values hard work and instills this in their children.

Community and Economic Movements

• Some African Americans are promoting communitarianism and the "buy black" movement.
• Maggie Anderson advocates for supporting black-owned businesses in Chicago, injecting 55% of her income into the black economy.
• Sharif Abdul Malik founded WeBuyBlack.com, an online marketplace for black-owned products.

Challenges and Identity

• African Americans face unique challenges in predominantly white industries.
• The "buy black" movement aims to create economic independence and resilience.

Real Estate and Wealth

• Atlanta is a hub for affluent African Americans, boasting a high number of black-owned businesses and affluent communities.
• Talia, a luxury real estate agent in Atlanta, serves a growing market of African American clients.

Cultural and Social Influence

• African Americans are increasingly visible in elite circles.
• Young professionals and families are contributing to a thriving black economy in cities like Atlanta.

Politics and Ideological Movements

• Candace Owens leads the "Blexit" movement, encouraging African Americans to consider the Republican Party.
• Her views are controversial but resonate with some, gaining traction both in the U.S. and abroad.

Conclusion

• The emergence of a new black elite is reshaping the social and economic landscape in America.
• The focus on community support, economic independence, and breaking stereotypes continues to drive the success of African Americans across industries.