Synopses & Reviews
A provocative look at the rise of the aNewbosaayoung black athletes, entertainers, and creative entrepreneurs who are poised to transform black America
There are more black multimillionaires in the United States than ever before, and a startling new black overclass has emerged out of the sports, entertainment, and media industries. While there is no shortage of coverage of the unfortunate realities of black Americaasuch as crime, incarceration rates, and wealth disparitiesathis is the first analysis of the growing number of self-made young black multimillionaires. In Newbos, Wall Street Journal reporter Lee Hawkins captures the pressures and prominence of the fascinating Newbo class.
Newbos exposes and chronicles the experience of these men and women as they move from relative poverty to fantastic wealth at a very young age. Hawkins examines how the Newbosa unconventional paths to success have become blueprints for broader independence and entrepreneurship, and how this segment of black society has a disproportionately heavy influence over millions of people. Hawkins also covers the risk of high-profile success, describing crash-and- burn stories and ones that have ended in tragedy. Contradicting old-guard leaders who assert that Newbos offer little to the black community as a whole, Hawkins puts the spotlight on the charity efforts of Newbos and their contagious financial power. Drawn from dozens of interviews with major names, including ZZ Packer, Nelly, Bob Johnson, and Russell Simmons, Newbos argues that the new black overclass has the potential to make extraordinary contributions to our nation.
Synopsis
There are more black multimillionaires in the U.S. than ever before, emerging out of the sports, entertainment, and media industries. This work exposes and chronicles the experience of these Newbos--New Black Overclass--as they gain wealth at a young age.