Derek Minor Announces New Movement “Ownership Is The New Black”

CHH artist Derek Minor recently announced the start of his newest movement “Ownership Is The New Black”. Derek shared his inspiration behind this new movement:

“Ownership is the New Black is a movement promoting and supporting black ownership, shifting our consumer power to ownership power. For example, rather than just buying shoes, buy stock in the brand. Rather than simply renting our homes, invest in real estate. This is paramount, not just for the black community but for the world in general. Imagine what would happen if a community with this much financial and cultural influence was able to grow and thrive. The possibilities are endless.” – Derek Minor

At the end of 1863, black Americans owned half of 1 percent of the wealth in America. Today, a little over 150 years later, black Americans own a little over 1.5 percent of the wealth in America. Considering the innumerable black contributions to the foundation and the evolution of this great nation, it seems black Americans would own much more than 1.5% of the wealth. Black consumers spend around 1.2 trillion dollars annually. That’s a buying power on pace with the gross domestic product of Mexico, Indonesia, Saudi Arabia and many others.

In most American communities the US dollar circulates about 8-12 times before it leaves that community. In the black community it doesn’t even circulate once. Black Americans have been key in the evolution and advancement of the world by creating, inventing, being cultural visionaries, and solving problems. Ownership is the New Black was created to promote and support black ownership by shifting the Black community’s consumer power to ownership power.