John Hope Bryant (0:00)

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Think, Matt, if your emergency fund was invested, especially given the volatility we're experien right now. Ouchies investing it is ultimately a necessity. But you gotta keep that emergency fund accessible. It needs to be cash parked in your savings. It's time to learn and how to money is here to bring the knowledge. Listen to how to Money on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. Hey, I'm Jay Shetty. This episode, Lizzo, opens up like never before about self love, transformation and finding real peace in a world that constantly tries to define you. It's not me anymore. Whoever Lizzo is to the world is not really even me. And that disconnect is depressing. The Grammy goes to Lizzo. Listen to On Purpose with Jay Shetty on the iHeartRadio app, Apple Podcasts or wherever you get your podcast. Peace of the Planet. I go by the name of Charlamagne Tha God. And guess what? I can't wait to see y'all at the third annual Black Effect Podcast Festival. That's right. We're coming Back to Atlanta, Georgia, Saturday, April 26th at Pullman Yards. And. And it's hosted by none other than Decisions, Decisions, Mandy B and Weezy. Okay, we got the R and B Money podcast with Tank and Jay Valentine. We got the Woman Evolved podcast with Sarah Jake Roberts. We got Good Moms, Bad Choices, Carrie Champion will be there with her Neck in Sports podcast and the Trap Nerds podcast with more to be announced. And of course, it's bigger than podcast. We're bringing the Black Effect Marketplace with black owned businesses, plus the food truck court to keep you fed while you visit us. All right, listen, you don't want to miss this. Tap in and grab your Tickets now@blackffect.com podcast festival. Welcome to Money and Wealth with John Hope Bryant, a production of the Black Effect podcast network and iHeartRadio. Yo, yo, yo. This is John Hope Bryant and this is Money and Wealth, my podcast series. Every Thursday, new episodes on the Black Effect Network, part of iHeartRadio. Honored to be with you. This is, first of all, thank you to you. I'm pleasantly surprised to say that this podcast series is now in the top 35, last time I checked, for all entrepreneurship podcasts in the country, and it's top 5% of all podcasts nationwide. So thank you, the listeners and subscribers, for confirming that this is content that you value and you want to hear. Please tell your friends to subscribe. This movement has just begun. You're part of the aspiration generation. So let the freedom ring on that point. It's time to sing a new song. It's time for us to get along is to move it along. Let's move a bold agenda, and I think I've got one for you here. So this week is dedicated to the economic business plan for all of us, starting with in this episode one, the blueprint for black America and how that relates to you. So, yes, I'm going to actually give you a business plan. You'll be able to download it, look at it, review it, mark it up, have a meeting in your barbershop or your nail salon, your fraternity or sorority meeting, your club meeting, your family meeting at your kitchen table, debate it, discuss it, unpack it, repack it with yourself in mind. Where did this come from? Let's start there, then I'll tell you where to get it and I'm going to walk you through it. And then I'm going to make it relating relatable to you. I believe PhDs are good. PhD's are good, too. So I want to honor Dr. King, the 57th anniversary of his assassination. The 57th anniversary of the assassination of Dr. Martin Luther King, Jr. Was April 4, 1968. He went to Memphis, Tennessee. And I believe it was a setup, by the way. He had gone there for a peaceful march. And I think some people intentionally made it unpeaceful, violent so that he had to go back and prove himself. And when they went back, they were waiting for him. He was talking about money and had, by the way, included poor whites in his vision. That's the poor People's Campaign Special hats off to Reverend Barber, who's continuing that work to this day. And he didn't make it to his first March. Dr. King would often say, I'm here to redeem the soul of America from the triple evils of war, racism and poverty. He didn't say, I'm here to save black people. He said, I'm here to redeem the soul of America from the triple evils of war, racism and poverty. And he had pivoted finally to this work of poverty, poverty eradication on behalf initially of the sanitation workers in Memphis, Tennessee. And they assassinated him. They assassinated him on April 4, 1968, at 6:01pm and on that balcony was my hero, my mentor, Ambassador Andrew J. Young, who was there with him on that day. They had left Atlanta and it was storming there in Memphis. There were tornado warnings and storm warnings. And when they took off and the night that he was supposed to speak at Mason Temple, there was a very bad storm and he was exhausted. He was trying to get some rest. And his aides, Dr. Young and Rob Abernathy and others said, you got to come. I think it was Jesse Jackson was there as well. You've got to come. They want to hear from you. Anyway, that's where he gave the mountaintop speech. And he collapsed into the arms of his aides. He had never collapsed like that before. The next day the sun came up and the sun came out and they had a pillow fight. Ambassador Young told me in the Lorraine Motel in the hotel room. It's as if Dr. King had just given up the go, just given up his anxieties. And Ambassador Young thinks he knew he was about to be assassinated and he was just free anyway, he walked on the balcony and that was it. And it just so happens that. And I want to thank Dr. Bernice A. King, Dr. King's daughter, CEO of the King Center. I wouldn't have done this unless she blessed it, who's a friend of mine. She's. She serves on our global board of advisors. By the way, we have a partnership with her which is. Gets announced formally soon, but we've soft announced that we're going to raise. We're going to do things in 100 cities to create bank accounts for kids. I'll get to that as part of the plan. But she and I and Ambassador Andrew Young, at the invitation of Mayor Paul Young in Memphis, went to Memphis last. Well, on. Yeah, last Friday, April 4, 1920, 25, on the 57th anniversary, to honor Dr. King by talking about the Dream Forward. And by the way, I went there the day before it was storming, there was tornado warnings, went into the same terminal Dr. King flew into. And the next day the sun came out. And Bernice King thinks that that's her dad signaling, giving us agency that this work does in fact continue. So let's talk about the work we had at this Dream Forward event. An incredible group of heroes and heroes. We had 20,000 folks streaming, watching, streaming live. You can go back to Dream Forward, go to Operation Hope website and go to Dream Forward or just search Dream Forward for Operation Hope or Dream Forward and Dr. King. Search any of those combinations. It'll come up. Watch the nearly three hour program if you like. Some of your most amazing heroes and sheroes were part of that. My friend Charlamagne, who inspired me to do this podcast, who is the majority owner of the Black Effect Network where I also serve on the board. My brother Roland Martin, who is fantastic, really needled me and pushed me to do that event and in some ways to dig into this business plan today. So I want to give him some credit. It was an extraordinary day with leaders from all around the world. The biggest billionaire in Africa in technology, Stride Masayua. The only Latino billionaire, I believe in the us Alex Rodriguez. I mean just the only CEO of the investment bank on Wall Street. President of investment bank president Lazard Ray Maguire, just Ballers Bishop, TD Jakes, Killer Mike Charlemagne, Bastard Andrew Young, Mayor Andre Dickens. I mean, just 100 delegates. You would have been so proud. Anyway, go check it out and you can download this plan right now. So go to Dream Forward, go to Operation Hope, Find the plan for black America. There are several plans, by the way. I'll unpack each of them in this series. There's a Latino plan, there's a women's plan. There's a business plan for Native American Indians. There's one for rural America. There's one for women, there's one for Asian Americans. This is a new business plan for America. This is how you grow the pie for everybody. But we're going to get into today the business plan for black America. And why are we starting with Black America? One is this Black Effect Network podcast network. But two, it's the group at the bottom of the economic pyramid, the only group enslaved on America's soil. I think it makes perfect sense that we start with Black America. So if you're talking to somebody and they've got limited time, they say, I want to listen to this so much. This is great. Where do I start? Just Tell them to go to minute 10 of the podcast today and they can get into it. And you should probably watch this and listen to this over and over and over again. Here we go. The blueprint for Black America. The economic blueprint for Black America. Black America. The economic business plan for Black America. Here's a preamble. We're going to be bold. We will not wait for permission. No, I'm not going to read this whole plan, by the way. Don't worry about it. I'm summarize it and then get into the details of it. We will not wait for systemic change to come from the outside. In other words, you're not going to just wait for the government to or anybody else to solve your problems in any ways. If anything, the government has signaled to you in many ways that you are increasingly on your own. But 40% of this plan, maybe more. But at least 40% of the plan I'm about to give you doesn't require the government. Can I get an amen on that? That's to me, inspiring. You can do this on your own. I'd rather teach you how to fish than have you rely on somebody give you some fish. I believe in the James Brown version of affirmative action. Open the door. I'll get it my dang self. Okay. We will build, invest and own, leveraging every tool at our disposal. Financial literacy, entrepreneurship, homeownership, artificial intelligence, and capital access. We will not talk you to death. We will not deliberate to the hills, come home. We will not navel, gaze and admire the problem. One of the things that my brother Roland is frustrated with is that people just talking, talking, talking and not doing, doing, doing. I do believe there's a need. After 400 years of oppression, 270 years of slavery, 100 years of Jim Crow, within those numbers, I do think we need to be reprogrammed. I really do. I do believe that a lot of us are depressed, distressed. We don't believe anymore. We have a surviving mindset and a thriving building world. I do believe discussions matter. He's a little frustrate. Discussions, I get it. But I think we've got Two things can be true at the same time. We've got to talk about it and then be about it. There's been too much talking about it and there's not enough being about it. And I think one of the reasons that people are not being about it. As somebody who's a CEO who has a payroll of seven figures every two weeks for my employees, one of the biggest employers who happens to be black in the country. I think just our people don't really know what to do. I think the people mean well. We understand civil rights. We don't understand civil rights. We understand protesting in the streets and what that takes, but we don't necessarily understand how to cut that big business deal in the suites. We're not dumb and we're not stupid. It's what we don't know that we don't know that's killing us. But we think we know. And people presume that we should know. And I'm not sure why they should presume we should know. No one gave us the memo. That's my fourth book. My last book, financial literacy for all you should pick up, is the national bestseller for the last year. Number one. Number one. In fact, the hardcover and the paperback are now number one and number two in business finance. And I believe in economics. So I'm trying to frame this out for you, put it where you can reach it and then operationalize in your life. So we're going to talk about the large plan, then we're going to give you your own personal plan. Go to the part of this podcast that applies to what you want to do after you listen to it once, listen to it again, get your friends to listen to it, listen to it in groups, pick it apart, put it back together, take the piece that applies to you and move on that piece. And when you want me to break it down in more detail, come back and tell me in comments on one of the social media platforms where you. I assume you're following me already. We will move black America from a projected zero net worth by 2053. That's an accurate estimation, by the way. The projected network for Black America by 2053 is zero. If we do nothing but what we're doing right now, our net worth is projected to be zero. That should get your attention. We will move black America from a projected net worth of zero by 2053 to $3.5 trillion by 2053 by our own hands, through intentional strategy and economic power. This meeting we just had at the Lorraine Motel at the Civil Rights Museum in Memphis. This historic meeting of 100 founding delegates and 20 speakers and the King family and the Young family and the mayor of Memphis. It was about self determination and dignity. Because if we don't align first, how can we build partnerships that serve us? Here's the 2025-2030 goals for the business plan. Number one, homeownership expansion. What's the target increase? Black homeownership from 42% where it is today, give or take, to 60% by 2030. White homeownership is 75% on average. Why is homeownership for white so high? Because they realize that the US tax policy is designed around home ownership. They write off the mortgage payment, you write off. You can't write off rent, you write off the depreciation, you get credit for that, you get the benefit of appreciation when the house goes up in value, that's yours. Property taxes, you get credit for that. The entire experience around homeownership is embedded in aspirational economic growth and wealth creation. Number one way you build wealth in America is home ownership. I always am fascinated when I'm on these TV shows and some wealthy dude will tell you not to buy a home, not to own a home. It's a stupid decision, he will say, typically a man. And I'm sitting there wondering why in the heck are you telling folks, poor folks and struggling folks and middle class folks, why is you telling them not to own a home? When you own a home, you might own two or three because maybe they want you to rent for life. I'm a landlord. I own homes. I own property. I used to own the Promise Homes company. I built it and sold majority of it in 2021, Christmas Eve for a record $121 million transaction. Businesses are built to be sold to be monetized, by the way. And I'm building some more businesses that you'll be hearing about soon in real estate. But. And so I like being a landlord and I love you renting for me, but I want you to go from rent to own. I want you to move up and out. I want you to become an owner. But some people want you to rent for life. They want you to rent your rv, rent your car, rent your dreams, rent your rich, rent the roof over your head. They would love to have convince everybody this generation. Yeah, you don't need to own anything. Just have fun. Just enjoy yourself. Just chill. We'll take care of the details. Yeah. What was that called sharecropping back in the day? Ryan Reynolds here from Mint Mobile. I don't know if you knew this but anyone can get the same Premium Wireless for $15 a month plan that I've been enjoying. It's not just for celebrities. So do like I did and have one of your assistant's assistants. Switch you to Mint Mobile today. I'm told it's super easy to do@mintmobile.com Switch upfront payment of $45 for 3 month plan equivalent to $15 per month required intro rate first 3 months only, then full price plan options available, taxes and fees extra. See full terms@mintmobile.com Trust isn't just earned, it's demanded. Whether you're a startup founder navigating your first audit or a seasoned security professional scaling your GRC program, proving your commitment to security has never been more critical or more complex. That's where Vanta comes in. Businesses use Vanta to establish trust by automating compliance needs over 35 frameworks like SOC2 and ISO 27001, centralized security workflows, complete questionnaires up to five times faster, and proactively manage vendor risk. Vanta can help you start or scale your security program by connecting you with auditors and experts to conduct your audit and set up your security program quickly. Plus, with automation and AI throughout the platform, Vanta gives you time back so you can focus on building your company. Join over 9,000 global companies like Atlassian, Quora and Factory who use Vanta to manage risk and prove security in real time. For a limited time, our audience gets $1,000 off vanta@vanta.com special. That's V A N T A dot com special for $1,000 off run a business and not thinking about podcasting? Think again. More Americans listen to podcasts than ad supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined. So whatever your customers listen to, they'll hear your message. Plus, only iHeart can extend your message to audiences across broadcast radio. Think podcasting can help your business? Think iHeart streaming radio and podcasting. Call 844 844-IHeart to get started. That's 844-844-IHeart. Hi friends, Sophia Bush here, host of Work in Progress. This week we had such a special guest on the podcast My Forever flotus. A mentor, a friend, a wife, a mother, an author, attorney, advocate, television producer. And now she adds podcast host to the list herself. Friends, Michelle Obama is here. Sophia, I'm beyond thrilled to be able to sit down and chat with you. We talk about it all. Life, love, motherhood, Martinis, Vodka martini, dry straight up olives, very cold. My girl, Barely any vermouth. What's next? What she's watching on tv. I am a White Lotuser. I am a Real Housewives person. I love the dating shows and tennis. I just find that to be a bit meditative. You do not want to miss this. Listen to Work in Progress on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. So here's your strategy. There are affordable lending programs, new down payment assistance programs, and community land trusts that can help you. Operation Hope can help you. The organization that I founded can help you become a homeowner. We have facilitated $4.5 billion in home ownership assistance and small business assistance. Access to credit, access to capital through banks, mostly at prime rates. We have 1500 offices in 42 states and 300 plus cities that are all there to help you. And because of my $70 million annual budget that is funded through a range of sustainable donors and partners, that service is free of cost to you. You get a thousand dollar scholarship for financial coaching and counseling to get your credit score up, your debt down, your savings up so that the bank can say yes. We get the bank out of the no business. Sorry you declined for credit. Back into the yes business. In fact, we're the only nonprofit in the history of the US ever allowed to operate inside of a bank branch in U.S. history. So homeownership and I'm gonna come back hopefully with some strategies here in a minute to get a little deeper. But let me finish with the rest of the plan. Entrepreneur number two, entrepreneurship and small business growth Target, double the number of black owned businesses. Again I want you to print this report out. Write down the notes, what I'm saying, print the report out, share it with your friends, email it, text it, talk about it, print it out. Put it, you know, put it on your wall as a dream part of a dream board. Create a, create a business plan. Create a mind map for it mind mapping software and I to reverse engineer yourself it create your part of this plan and reverse engineer yourself into this reality and watch you hang around. Have all your friends be about what you're about because if you hang around nine broke people, you'll be the 10th. If they're not about mo doing something, you need to move on. You cannot take everybody with you. Yes, I said it. Number two, entrepreneurship and small business growth. Target, double the number of black owned businesses and their revenue by 2030. This and by the way, 96% of all black businesses don't have an employee. So they're not really businesses or self employment projects. How do you. You've heard me say this before. You make money during the day. You build wealth in your sleep. Compounding. It's stocks, it's bonds, it's investments, it's homeownership, it's real estate, it's business it's education that compounds. Right? Employees help you compound because now you're not just doing all the work and moving paper from one end of the desk to the other and handling a contract by yourself and just basically living is just making a living through a business that is really just a self employment project. But if you have two or three employees, you're leveraging yourself and they're helping you to create revenue and fulfill contracts that you can't do on your own. So we need more than just a sole proprietorship, right? Here's some good news, by the way. 70% of all businesses in America are being started by minorities and women. But only 5% of venture capital goes to minority and women businesses. I'm seeing this as an opportunity, not just a problem. And I want Silicon Valley and Wall street to listen to this podcast and, and see this as an economic opportunity. No one's asking you for a handout. We're talking about a hand up. We're talking about emerging markets. That's why I call it inclusive economics. I'm not talking about some giveaway program. I'm not going to give you a three initial program you need to support. I could care less about that stuff. I'm talking about the color green in the US at least. And it's. But it's the color, your currency. Wherever you are in the world listening to this podcast. We are an emerging market. We are viable and we want to be taken seriously. Can I get an amen? So double the number of Black businesses by 2030. I'm sorry? In their revenues. Strategy. Expand black owned venture capital. Increase procurement contracts. This is venture. These are vendor contracts with businesses, corporations, the government, city, state, federal, county. It's not just the federal government. I'm talking about most gdp, most gross domestic product, most income. Most of the economics for this country come from cities, not from the federal government. Stop obsessing about what Washington D.C. is doing exclusively. Most of the wealth is in the economy, not in Washington D.C. so again, what Malcolm X say, you've been bamboozled, you've been tricked, you've been fooled, you've been hoodwinked. Like, knock it off. Focus on your goals. That's why I want you to create a mind map and a Pinterest board and a dream board based on this business plan for your Life. Establish a $100 billion funding pipeline. I want us to expect to create a pipeline of viable black businesses. CDFI funds, community development financial institutions, minority owned banks, venture capital funds, investment banks, both the ones that we control and Those who want to access this market, there should be a total of $100 billion worth of activity that we put in a pipeline for future funding between now and 2020, 28, 2029 that funds by 2030, probably 2028. Strategies strengthen Black business ownership and job creation. That's one of the things that we're doing with 1MBB 1 million black business initiative at Operation Hope, where we partner with Shopify. We put up $130 million and then later on came back, was so successful, put up another $60 million in last December for a total of $190 million with Operation Hope because they've already helped us create, nurture, support, advance 450,000 black businesses. There's only 3.1 million black businesses in America. Think about those numbers. This is just Operation Hope, just us. Imagine if other folks align with us with this business plan. And by the way, I want to give credit to Emory University, their economics department and Clark Atlanta University, where I serve on the board and their business school, who's agreed to backstop to, to be the quarterback for these, for this business plan and others as we grow it, huddle around it, nurture it, refine it as we then announce the final plans at the HOPE Global forum later this year. So if you want to be part of this activity, go to Operation HOPE website, make a HOPE commitment and say, I want to do a version of this plan for Knoxville, Kentucky, a version of this plan for Los Angeles, version of this plan for Inglewood, California, version of this plan for Columbus, Georgia. You can make a HOPE commitment and decide that you want to take the framework of this plan and make it applicable to your family, to your street, to your community, to your neighborhood, to your city. You don't have to wait for the mayor, the governor, the president. Do it yourself and we'll help you. We'll give you the tool. You make a HOPE commitment. We'll give you the tools. I've already started by giving you this downloadable business plan and then we're going to help you to work on your own plan in your community and then execute on it with the tools that we have and we're going to helped increasingly make available to you. All of them available will be downloadable increasingly on the operation of website and our partners because we're not trying to own this. This is open source empowerment. Are you excited yet? I am. I'm only at number two, right. Number three, AI and skilled workforce development. Okay. Artificial intelligence. I think that there's two issues that are civil rights and civil Rights issues right now. Financial literacy is a civil rights issue of this generation is as important as the right to vote. And AI literacy is the silver rights issue. S I L V E R issue of this generation. From protesting in the streets with civil rights traditionally we now have a march on capital with capital. In other words, partner with capital in the business suites. Cutting deals in the business suites with civil rights we need to do deals in the suites. Not just protests on the streets, but in order to live a life on the streets, you need your financial literacy. But AI literacy train target train 1 million black individuals in artificial intelligence and digital skills by 2030. That's why we have the AI LP3 here in Atlanta and the AI ethics. The artificial intelligence AI ethics council that I'm co chairing with Sam Altman. And we've worked. We partnered with Georgia State University here in Georgia and others, Morehouse College and Clark Atlanta University and Georgia Tech soon gets announced around the AI LP3 which is a pipeline to prosperity in Atlanta public schools with Dr. Johnson and Mayor Andre Dickens to create a pipeline of artificial intelligence. New leaders, job creators and innovators and business creators from kindergarten all the way through middle school, high school and college. Don't just wait for folks to destroy your jobs, create them. That's AILP3 again. You can look that up on the Internet or go to our website for more information. AI Ethics Council AI LP3 project underneath that or you create your own project again. Make a whole commitment in your neighborhood. We'll help you to operationalize it with some encouragement. Train 1 million Black individuals in AI and digital skills by 2030. Strategies AI Literacy Pipeline AI LP3 is a model tech apprenticeships in corporate AI hiring partnerships. Think about this. Everything's going to change. Artificial intelligence is going to change everything by 2030. Everything. Everything. You're looking at, everything you're seeing. Your desk, your furniture, your technology, your car. I mean there'll be self driving cars. The jobs, every occupation you can think of. Healthcare. You go to the mall today, you go to the airport or go to a CVS or Walgreens store, grocery store and you're doing self checkout with a pad and punching it in yourself. Used to be somebody walk, sitting, standing there doing the physical situation. That's artificial intelligence, robotics and computing. All right, that, that's, that's the future right in front of you. So everything's going to change. I want you to be part of that change. Impact Ensure black America is positioned in the AI driven economy for financial literacy and wealth creation. Target increase Black wealth, black credit scores to an average of 700 nationwide. Right now, the average credit score for African Americans is about 620, which means that in that neighborhood Pookie Nim got a credit score of 400 or 500. We all know who Pookie Nim is. And somebody else has a credit score, maybe you of 740, 750, maybe even 800. And there's a few with 7, 4, 5 0, 800, but that's being drugged down as an average by Those who have 4 and 500, who credit scores who are numerous. The average actually is 620, which is still bad. If you have a 620 credit score. If the average credit score for African Americans is 620, that means that half of us wake up locked out of the free enterprise system every morning. So we're sitting here talking about police brutality and racism and bias, all of which is important. We're talking about, we're obsessing about Washington D.C. and this new president, really important stuff. But we can't control most of that. But you can control your credit score. And there, if you haven't checked your credit score, there's probably an error on your credit score. And we have shown at operation hope that 80% of the time when there's an error or more, when we challenge that to the credit bureaus, which are three credit bureaus, Experian, TransUnion and Equifax, the law states silver rights. The law states that if they can't confirm that's you within 30 days and remove it. I'm sorry, 30 days. They would confirm it's you. They must remove it. Did you hear me? They can't confirm that that's you within 30 days. They must remove it. And so when my team at Operation Hope, the whole financial coaches challenge the credit bureaus, many of which are our partners, by the way, and say, is this Joanne or is this Jax? And they say, well, we can't confirm that on day 28, 30, day 30, whatever, they must remove it. That pops your credit score 20 to 30 points. So if you were at 580, you're now at 610. Hello, can I get an amen? Think about what that does to your self esteem and your confidence. You now joined a whole new club. So we raising credit scores. 54 points in six months. 120 points in 24 months. Nothing changes your life more than God or love than moving your credit score 120 points. Why is this important? This is a big one. And again you do this on your own, we can do this on our own. In fact, Operation Hope may end up if we get really, really organized around this. Because I want to become the Starbucks of financial inclusion, the Walmart of financial literacy. All across this country, wherever you go, there's Operation Hope. If we do this really well and we move credit score, I mean, we can probably do 15 to 20% of this work, maybe even more than that by ourselves. This piece, this one piece is something we can obsess about. We have a HOPE Financial Literacy Index, a Hope Financial Wellness Index on the operational website. Go to it. You put your zip code in, I'll tell you your credit score, I'll tell you how you live it. If you live in the hood or da hood, as we say, we all know what I'm talking about. Whether you're black and brown, urban or white, poor, rural, you know, what we see is a check casher next to a payday loan lender next to a rental owned store next to a title lender next to a liquor store next to a pawn shop and a church down the street trying to make you feel a little bit better once a week. That's a neighborhood therapist making sure you don't go cray cray. All right? And if you're behind around a military base, at the entrance of that military base, there's all those predators position because they know the military. If you're in the military, you cannot be in financial distress and keep your security clearance. Did you know that? So they prey on, on the military. So it's not a color thing as in racial. They prey on poor whites, they prey on poor blacks equally. It's not racial. Right? It's not racial. First, by the way, if this issue was just racial, you wouldn't have poor whites. You just, you only have rich whites and wealthy whites. But there are more poor whites than poor anybody else because there is a game to the game. Hello. The number one group dying in America are high school educated white men, lost aspiration, lost agency and depression, which is why it's opioid addiction. They're drowning themselves in drugs and whatever, trying to forget about their problems. But whether you're black, African American, or whether you're native American Indian, or whether you're poor white, you didn't get the memo. I'm trying to deliver this memo to you. I'm trying to remove the haze and replace it with a plan. So raising your credit score is the low hanging fruit here. My team will do it for you. We'll give you a thousand dollar coaching scholarship. Just tell them I sent you. Go online and download the Hope and Hand app on the Apple store or the Android Store and, or call my team on a 1, 800 number or go to operationhope.org and tell them that John Hope Bryant sent you. They'll give you $1,000 coaching scholarship for financial coaching that'll last a year and they will work with you to get you bank qualified for prime credit. Prime credit, right. And let me tell you why this is so important and let me finish this. The strategies for this, okay, Strategies of financial education, debt reduction programs, capital access expansion. What's the impact? Strengthen economic resiliency and investment capacity. Now, now, somebody might be saying by now, all right, John's talking big, big, big words and all this stuff. He's already went through four parts of this plan and I still don't understand how this relates to me. Well, like what he said, we're having a net worth by, by zero by 2053. Why wouldn't I just wait for the government? You know, I'll wait out this president. Government's going to help me. Really? Is that right? Okay, let's, let's look at that. I understood the government. We needed the government after slavery for obvious reasons. Freedom. I understood we needed the government during the civil rights movement. Clearly we didn't have rights of a human being, no right to vote, access to a water fountain in 1960. Like it's crazy, right? Women, by the way, in 1972 could not open a bank account by themselves, could not get a loan list. Her husband co signed it. Not 1872, 1972. White women too, by the way. That's why when they didn't want to give us affirmative action in the 60s, they allowed white women to take advantage of that. But that's another conversation for another time. And I don't mind that. That's cool. But I'm just telling you how this situation. There's a reason we got here and there's a whole series I'm going to be doing about solving 6,000 years of economic frustration for black America in six years. This is part of that series. It's one of the anchors that I'm going to start. I'm going to unpack 6,000 years of frustration and tell you how we got here. How did we get to this point where we're brilliant and amazing but we are lagging in economic and financial wealth, health and opportunity. I'm going to unpack it for you and repack the solution with you in Mind, can I get an amen? I'm so excited about this, but let me stay focused. I want to get the get. You get a lot of power in this first podcast. You let me know whether you like this. By the way, let me drop a mic. So we said, okay, so I understand why the government after slavery, I understand government and civil rights movement, but why are the last 40 years are we still tucked away under government? And clearly now you're being told, get out, there's the door, you don't have to go. Get the heck out of here. On some level, you're being told to be African American. There's no place for you within the federal government. You don't have to ask me to go. I'm gonna leave again. I believe in the James Brown version of affirmative action. Open the door. I'll get it my dang self. Now. I met with the Secretary of the treasury recently, the new one, Scott Bessant, who's actually a nice guy. I've known him for a decade. I'm not crazy about the policies of this administration at all, at all. But I believe in the power of relationships. I know him, he knows me. And we're going to work on financial literacy together because that's something we could agree on and I think we can get that done. But anyways, again, another conversation for another time. But I want also access capital from. If the administration can't do anything else, they can write a check or provide a guarantee for small business loans or home ownership. Okay, but we don't even need that for this plan. Check this out. So if you got the government to change their mind and have a deathbed conversion, that they're just like, we have gone and gotten religion and we went to the Pope and we had a Christ like experience. And we are spiritual in a different way now. And we admit that this was wrong. And we're going to give black people reparations and welfare and everything. Okay, that's good for between 300 billion to $600 billion is based on my research at best over the next 20 years. So by 2053, right. Give or take 25 years, 28 years, right. You get 300 billion to $600 billion. Sounds like a lot of money. It's not. But let me tell you, if you increase your credit score 100 points, that's good by itself for $750 billion. Let this sink in what I just told you by raising your credit score. But you can do by yourself with help from Operation HOPE or the National Urban League. Being a coaching counselor on your by the way, National Urban League is a great trainer for skills and whatever group you want to work with is fine with me. But. But if you work with whomever, make sure they don't charge you. If we help you raise your credit score, which fundamentally changes your access to capital, your viability, ability for the bank to say yes at midnight, not even knowing who you are, the computer will just say yes. If you put your information in that computer to become a homeowner and you have a job and you got a credit score, they're not going to ask you what color you are, what gender you are. The computer will say yes. If you're 750 credit score or 700 credit score, you have a good job, the computer, trust me, will say yes to prime credit because they need the loan in order to make a profit. But if you just raise Your credit score 100 points, if black America just did that, didn't do anything else, it would be worth $750 billion of wealth creation by 2053 compared to 300 billion or 600 billion at most by begging the government. It's tax season, and by now I know we're all a bit tired of numbers, but here's an important one you need to hear. $16.5 billion. That's how much money in refunds the IRS flagged for possible identity fraud last year. Here's another 20%. That's the overall increase in identity theft related to tax fraud in 2024 alone. But it's not all grim news. Here's a good number. 100 million. That's how many data points Lifelock monitors every second. If your identity is stolen, LifeLock's US based restoration specialists will fix it, backed by another good number, the million dollar protection plan. In fact, restoration is guaranteed or your money back. Don't face identity theft and financial losses alone. There's strength in numbers with Lifelock identity theft protection for tax season and beyond. Join now and save up to 40% your first year. Call 1-800-LIFELOCK and use promo code iheart or go to lifelock.com iheart for 40% off. Terms apply. Run a business and not thinking about podcasting? Think again. More Americans listen to podcasts than ad supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined, so whatever your customers listen to, they'll hear your message. Plus, only iHeart can extend your message to audiences across broadcast radio. Think podcasting can help your business think iHeart streaming radio and podcast. Let us show you@iheartadvertising.com that's iheartadvertising.com. hi, friends, Sophia Bush here, host of work in progress. This week we had such a special guest on the podcast My Forever flotus. A mentor, a friend, a wife, a mother, an author, attorney, advocate, television producer. And now she adds podcast host to the list herself. Friends, Michelle Obama is here. Sophia, I'm beyond thrilled to be able to sit down and chat with you. We talk about it all. Life, love, motherhood. Martinis, Vodka martini, dry, straight up olives, very cold. My girl. Barely any vermouth. What's next? What she's watching on tv. I'm a white Lotuser. I am a Real Housewives person. I love the dating shows and tennis. I just find that to be a bit meditative. You do not want to miss this. Listen to work in Progress on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Hey, I'm Jay Shetty. And if you've ever felt the weight of letting go of people, past versions of yourself, or the expectations placed on you, this episode is for you. Lizzo opens up like never before about self love, transformation and finding real peace in a world that constantly tries to define you. It's not me anymore. Whoever Lizzo is to the world is not really even me. And that disconnect is depressing. The Grammy goes to Lizzo. I think it's also hard when the things that you stand for are the same things that you're being scrutinized for. The weight that is no longer on me is not just fat or physical. I released so much to get to this point and to be honest with you, I don't feel like I've expressed myself fully in the last two years. Listen to On Purpose with Jay Shetty on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. So now you got your credit score up. Okay, so now what that leads to? What did I tell you? The first way to build wealth. Best way to build wealth. Easiest way to build wealth, Homeownership. We own. We own about 42, 43% of homes. You increase that number. I've already told you that objective. Go back to the podcast. Listen to that. Right? That's worth $800 billion of wealth creation. So 800 billion and 750 billion is give or take 1.5, $1.6 trillion, which is 4x or 6x or more of the value of the best case Scenario of government assistance. Are you excited yet? Okay. And we can do this ourselves. Those two things we can do ourselves. So you say, well, John, it's not easy to become a homeowner. Actually, it's not hard. You're gonna pay get a pay to live somewhere. It's gonna cost just about as much as rent these days as well to own a home. Just don't go be buying no fancy thing uptown. Forget the little mini mansions and all that stuff. Go get yourself something the hood adjacent. Get yourself a reasonable home in a working class neighborhood. If you live in Atlanta, you know what I'm talking about. From midtown Atlanta to the airport, I believe is the next gold mine. Find something you can afford near transportation, economic activity, jobs, vitality, you know, energy, right? And buy it, rehab it and live in it. If you're really smart, you want to buy another piece of property, maybe in partnership with an llc, limited liability corporation with family or friends. Make sure it's business, not some emotional thing. And you use the equity from the first house to buy the second house. Again, make it modest, buy it, rehab it and rent it. But I'm getting ahead of myself on the first situation. If you get your credit score up to 700, 750, you can access capital. So now that triggers homeownership. Do you know if you're black and brown or women or minority or even poor white that there are Community Reinvestment act programs through FDIC insured banks that stipulate that they must, if they're going to take deposits from wealthy neighborhoods, they must reinvest in poor neighborhoods. They're not going to give the money away, but they have a test investment, lending and Service. I've raised $4 billion plus $4.5 billion of CRA capital for my different endeavors in Operation Hope. I'm telling you this works. Go become an emerging market customer for these banks. And because you meet the criteria as a low wealth or underserved population, forget dei, you're fifth on the list. If you're black, who cares about that stuff? Stop being the poster child of that. You're fifth on the list. Be first in the list. They want you as a customer, not as a black person, but as a green person, as an economic prosperity. Let us prepare you get your credit score up, your debt down, a budget, your savings level up. So we're getting an operation up. Your credit score up 54 points, your debt down 30. I think it's $3,800. Your savings up $1,200 for the average person making 48,000 to $50,000. So the bank can say yes. Okay. And you're now. So the bank will give you lower interest rates than anybody else. Okay. And in many cases the bank has as much as a $10,000 down payment assistance loan. So if you're in Columbus, Georgia or you're in one of these small towns. Most of us live in small towns. I think it's like 60% of black America is in small towns. I believe that's the number. I'm doing this off my top of my head. Somebody can fact check me. But it's a big number. I mean you can buy $100,000. You don't have to buy a mini mansion, buy $100,000 house, a $200,000 house. A $10,000 down payment is 5 or 10% of what you need to buy that house. And you get your earning of tax credit with opera show can also help you get if you make less than I did a podcast. I did a podcast. I did a post on this recently when I was after I came off the Breakfast Club, which I love those people, the Breakfast Club. That post is already up to a million people who viewed that because I talked about the earned income tax credit and how if you make $60,000 a year, the federal you a check for working. It's not a giveaway program. It's bipartisan policy. Been around since the 70s, the 1970s, CRA too, since the 1970s. It's not going anywhere. So if you work hard and you got if you had two or three children, which is the average for this country, the less you make, the more kids you have, the more money the federal government owes you for working. So if you make 38, $40,000 a year in this example, you have three children. The government owes you a check for 6,000, $7,000. If you've never filed EITC Earned Income Tax Credit is retroactive for for three years. Okay. That could be as much as $20,000. You add the $20,000 to the down payment assistance from the bank, which is much as $10,000. Now you've got as much as $30,000 to pay off that auto loan. Pay down those credit cards, put a down payment on the house. Are you excited yet? Put some savings aside. So now if you add the credit score increases with the homeownership number 750 billion plus 800 billion. You're at $1.5 trillion of net worth by 2053, not zero. Can I get an amen? Okay, so now let's talk about item number five, capital access and investment growth. The target is $1 trillion in investment in the black communities. Strategies leverage CRA, Community Reinvestment Act, CDFIs, community development. Community development financial institutions and also minority banks and private sector capital. Launch black owned investment funds. Right. Impact create an enduring economic foundation for, for generational wealth and okay, so now let's get into another number that I love to talk about here. Artificial intelligence. Well, before I get the AI, small business creation. So there's going to be. You have the largest generation of people over 65 ever. Now these are white wealthy baby boomers who are trying to retire. I may do a podcast just on this. You tell me what you wanted to do it or not. I'm not gonna even get through this business black America, because It's already at 42 minutes and I'm not even through the details. You tell me what, you want me to do another one on this and go even deeper about strategies and all that stuff and tools. I want me to get to the details here. But hopefully this has been powerful to get you the ignition light lit in you and excited about a plan that is in front of you that you can do. So this population of white wealthy baby boomers are your heaven sent. They're white wealthy and they want to go play golf. They're tired, they're ready to go chill. Great. Right? There's more of them than people under age 18, by the way. The 40% of the people under 18. Sorry, there's more people under 18 who are people of color than not. So basically they're non white. That's the new diversity of this country. Right. So these young people have got to become capitalists. The bottom of the third of the pyramid have got to become economically prosperous. Or put another way, my rich friends eat my poor friends to do better, if only to stay rich. So these baby boomers are trying to retire. There's a hundred, there's. I'm so excited. There's $400 trillion of wealth in the world. About a third of that is in the United States. Okay. Eight billion people in the world. 350 million people in America. So America's pretty amazing even with our current drama. So a third of that wealth is in the US let's just call it 150 trillion just to round off the numbers. The country is, you know, we know how the, how old the country is. It's, you know, since, you know, 1600s, whatever, 1700s, formality and all that kind of stuff. Okay. Of that number $50 trillion was created since the year 2000 of the 150 trillion of wealth since the beginning of the US 50 trillion of that wealth was created since the year 2000, the last 25 years. These baby boomers want to know, want to, want to go live their life. They're going to transfer about $100 trillion of wealth over the next 10 to 20 years to their inheritance. That means stock. That means the children, the wives, the husbands, the loved ones are going to get this wealth, right? Well, these loved ones are going to want the stocks, the bonds, the cash, the homes, the real estate. They don't want the businesses. Please listen to me now. I'm giving you a lot of as Jay Z said, I'm going to give you a million dollars worth of game for 9.99. Well, I'm giving you a million dollars worth of game for none. 99. In fact, I'm about to give you about 10 to 12 trillion dollars worth of gain. So out of this hundred trillion dollars is going to transfer in the next 10 to 20 years, starting right now, about 10 to $15 trillion of that are businesses that nobody wants. I just dropped the mic at minute 45. There are 10 to 15, 10, 12, $15 trillion of viable, successful, profitable businesses with real estate, you know, good brand reputation, customers. It's a profitable, successful business. There's nothing wrong with it except that the kids don't want it, the wife or the husband doesn't want it. They want to go live their life. The first generation makes it the entrepreneur like me. The second generation spends it. It. Okay. Third generation loses it. It's unfortunate but true and it's historic. So this second generation wants to go. They want to go have fun. They don't want to work and do this business thing. So that means that that business has no place to go. There's nothing wrong with it. And you and I can go buy those businesses. In fact, when I get through with a couple of my objectives and my goals, I plan on accumulating a portfolio of these businesses. So I'm not telling you to do something. I'm not thinking about myself, okay? There's nothing wrong with these businesses. They're cash flowing, they're profitable, they have wealth. And it is easier actually to acquire a 10 or 20 million dollars successful, profitable business with a brand and reputation, customer base and assets to acquire. That was what's called non recourse debt. Go and listen to my podcast from last year where I talk about different kinds of debt. Go back and watch or listen to that podcast, it is easier to acquire that business from Wall street sources with non recourse debt which means you don't guarantee it versus a personal guarantee. Then starting a pizzeria for a hundred thousand dollars which you got a guarantee with your house or a personal loan, your third born child from to get a loan that you got to pay back. And if you don't, you go bankrupt. It is easier to get a loan for an acquisition loan for 10 or 20 million dollars successful business than it is to get a loan for your purse under your personal credit and personal wealth for a hundred thousand dollars to start a local pizzeria or whatever that you want to start. I'm not telling you not to do the pizzeria. I'm just telling you this is a whole new ball game that no one ever taught you. And it is going to be a huge opportunity. It's not going to be easy, but I'm telling you it's there and it is massive. And that's worth a trillion dollars of our net worth by 2053. And then you have artificial intelligence which is worth another 750 to a trillion dollars by 2053. So you add these numbers up. 0 net worth by 2053. If we do nothing, $750 billion by 2053. If we just get our credit score up 100 points. Neighborhood by neighborhood, community by community. As we're partnering with the Mayor of Atlanta, Andre Dickens, as we're partnering with Mayor Paul Young in Memphis, as we're partnering with communities across this country using the Hope Financial Wellness Index, my Hope Financial coaches getting credit score up, savings down, debt up so that. Sorry. Debt down, savings up, credit score up so that you can be qualified for a proper prime bank loan at prime rates so you can access capital getting that credit score of 100 points. By the way, you live 20 year longer life. Did you know this? If you live in a 700 credit score neighborhood versus living in a 500 credit score neighborhood, you live, get this now, a five year longer lifespan for every 50 point increase in your credit score above 500. We're dropping all kinds of mics here. Don't trust me. Go to the whole financial wellness index. Look at the data that we have there. We've mapped every zip code in America by credit score. We have overlaid census data, credit bureau data. I want to thank Experian for the access to their data quote my friend Melody Hobson, I like mat because it doesn't have an opinion. So you have a 500 credit score, you lived at 61 years of age. You don't get Social Security to 65. Hello. So you drop dead at 61 because you got stress, you have hypertension, you got depression, you eating bad food because you were eating at fast food restaurants. You're inflamed. You're not fat, you're inflamed because, well, you're stressed out and inflammation. And my wife Sha will tell you, she's a wellness expert, that 75% of all disease lives on inflammation. Okay, so you're living in this surviving mindset. You have a low credit score, you're being preyed on by financial predators. Those who have the least pay the most, the poor pay the most. You hang around nine broke people, you'll be the tenth. Is this resonating yet? You go 15 minutes away from that. That's literally true. 15 minutes away from a 500 credit score neighborhood. All across this country is a 700 credit score neighborhood. Again, I mapped it out for every zip code in America. Don't trust me? Go to my Hope website. Put in your go to. Hopefully all this is searchable, Internet searchable. I created all these tools for you. I created basically Operation Hope is the economic plumbing for underserved America. The, the Federal Reserve of the hood, if you want to call it that. Go to. Go to my website for. Go to. These are all different websites. Go to the Hope Financial Wellness Index website webpage, type in your zip code, I'll tell you how you live it. I'll tell you exactly the credit score in your neighborhood and it'll all make sense to you once you find out that zip code and that credit score. So if you live in a 500 credit score neighborhood, you live to 61 years of age 15 minutes away, you live in a 700 credit score neighborhood, you live to 81 years of age. So for every 50 point increase in your credit score, you lived another five years. And it's not about the credit score, it's about the trending indicator of hope. Well being, belief, confidence, joy, optimism, you know, two parent households, 700 credit score neighborhood versus a one parent household in a 500 credit score neighborhood. You can go to high school equivalency at a 500 credit score neighborhood. 61% of people graduate from high school, 96% or 90% plus graduate from high school in a 700 credit score neighborhood. That's basically college. You have a lot of violent crimes per thousand in the 500 credit score neighborhood. You have almost no violent crimes per thousand in a 700 credit score. Neighborhood, you have a very low homeownership rate. 24, 40% in a 500 credit score neighborhood. Hello Black America. 42% average homeownership rate, you have a 75% homeownership rate plus in a 700 credit score neighborhood. I told you wealth creation. You have sit down restaurants, grocery stores in a 700 credit score neighborhood. In parks and you've got a concrete jungle, fast food restaurants and a bunch of drama in a 500 credit score neighborhood. In a 700 credit score neighborhood, the police protect you. In a 500 credit credit score neighborhood, the police pursue you. Right? Run a business and not thinking about podcasting. Think again. More Americans listen to podcasts than ad supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined. So whatever your customers listen to, they'll hear your message. Plus, only iHeart can extend your message to audiences across broadcast radio. Think podcasting can help your business? Think iHeart streaming radio and podcast. Let us show you@iheartadvertising.com that's iheartadvertising.com hi friends, Sophia Bush here, host of work in progress. This week we had such a special guest on the podcast My Forever flotus. A mentor, a friend, a wife, a mother, an author, attorney, advocate, television producer. And now she adds podcast host to the list herself. Friends, Michelle Obama is here. Sophia, I'm beyond thrilled to be able to sit down and chat with you. We talk about it all. Life, love, motherhood, Martinis, vodka martini, dry, straight up olives, very cold. My girl, barely any vermouth. What's next? What she's watching on tv. I am a white Lotuser. I am a real housewife person. I love the dating shows and tennis. I just find that to be a bit meditative. You do not want to miss this. Listen to work in Progress on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. Hey, I'm Jay Shetty and if you've ever felt the weight of letting go of people, past versions of yourself, or the expectations placed on you, this episode is for you. Lizzo opens up like never before about self, love, transformation and finding real peace in a world that constantly tries to define you, it's not me anymore. Whoever Lizzo is to the world is not really even me. And that disconnect is depressing. The Grammy goes to Lizzo. I think it's also hard when the things that you stand for for are the same things that you're being scrutinized for the weight that is no longer on me is not just fat or physical. I released so much to get to this point and to be honest with you, I don't feel like I've expressed myself fully in the last two years. Listen to On Purpose with Jay Shetty on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. Have you ever wondered if your pet is lying to you, why is my cat not here and I go in and she's eating my lunch? Or if hypnotism is real, you will use the suggestion in order enhance your cognitive control. But what's inside a black hole? Black holes could be a consequence of the way that we understand the universe. Well, we have answers for you in the new I Heart original podcast Science Stuff. Join me Jorge Cham as we tackle questions you've always wanted to know the answer to about animals, space, our brains and our bodies. Questions like can you survive being cryogenically frozen? This is experimental. This may never work for you. What's a quantum computer? It's not just a faster computer, it performs in a fundamentally different way. Do you really have to wait 30 minutes after eating before you can go swimming? It's not really a safety issue, it's more of a comfort issue. We'll talk to experts, break it down and give you easy to understand explanations to fascinating scientific questions. So give yourself permission to be a science geek and listen to science stuff on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. I hope this has made some sense. We didn't get it as far I wanted to get in this. I'm going to try to find a way to well, the graph that I wanted to show you is on the website. So I want you to print this graph out. This is projected black American net worth by 2053. It gives you the comparison of what we do nothing if we do if we execute my business plan for credit scores my business plan for tied to homeownership and what we in AI. And if we do nothing, I'm sorry And also it shows you what happens if you just want to rely on the government. Government. So if you raise Black homeownership from 44% to 65%, you unlock a trillion dollars in household equity alone. AI will help to streamline buying, selling, refinancing, equity optimization for black homeownership. That's again another industry and businesses that we can decide we're going to go into skill folks through AI artificial work in the new workplace with artificial intelligence. That's what the National Urban League is our national the nation's skilling part. That's what Marc Morial told me years ago. Well, they should be training folks in artificial intelligence. I think that they shouldn't be. The federal government shouldn't be destroying the Department of Education. They should reimagine its role and have it teaching financial literacy and AI literacy to the masses of Americans with a high school education at scale, every kid k through college should get financial literacy for all financial literacy education and every kid and adult should be retrained, trained or retrained in artificial intelligence skill set so they have a job for the future or a business. As you can tell, I'm so excited about all this. I didn't get into getting to all of the details and there's so much more. But just go online and download the plan. I'll go if you want me to. Tell me whether you want me to continue if you want me to. I will then unpack the rest of the plans on subsequent podcast. But I, I didn't want, I don't want to do that if you're not interested. So you got to tell me because you know I got a little geek sprays. You got to tell me whether this is what you want me to do. But let me in the couple minutes I got left. I don't want to go over an hour and outlive your driving, your driving situation or you're driving to work or home or wherever. Or you're, you're on a, you're, you're, you're on a run or you're on a walk or you're cooking in the kitchen or whatever it is you're doing. You may only have an hour, so want to keep this tight and respect your time. Here's some stats and facts for you to take away. The average median household wealth for black America is about $24,000 compared to $188,000 for our white counterparts. Just to underscore this is not just about race. Look, racism is like rain. It's either fall in some place or it's gathered. So you might as well get out of color and you like an umbrella you like and the color you like and stroll through it because it's not going to change, so you must. Racism is like rain. It's either falling some place or it's gathering. So get out an umbrella in a color you like and start strolling through it because it's not going to change, so you must I said it twice to underscore it. What's the point? Here in Boston, there was a study by the Federal Reserve bank of Boston on wealth and they found the average white family had a net worth of, I think it was 120, $140,000. In Boston, I think that number was right. And for Caribbean Americans it was $1,200 net worth. They just come from Caribbean and they're just getting themselves established. African Americans who've been here since slavery, net worth of seven bucks. That's not, in fact the Boston Globe, when they printed this, they had to say on the front page of the Boston Globes, black American net worth in Boston, seven bucks. And they had to put this is not a typo. So if you think the issue is only race, again, you've been bamboozled, you've been tricked, you've been fooled, you've been hoodwinked, you've been folks try to confuse you, distract you issue. Then the black American net worth and the Caribbean black net worth should be exactly the same. Hello. And the net worth of whites should be poor. It shouldn't be poor whites and rich whites should just be rich whites. Okay, but the net worth is different between Caribbean blacks and African blacks because the mindset's different, the experience is different. They had slavery for a much shorter period of time in the Caribbean. It continued as a cottage industry in the United States and they destroyed our self esteem. I covered the economics of slavery in the last podcast. Non emotionally, go and check it out. And I didn't, I wasn't hitting on blaming any one race of people because frankly, everybody was involved in the slave trade, including some blacks. How do you think they got folks from the center of Africa to the coast? Hello. There were Arabs involved with this, Indians involved with this. I'm not sure of Asians, but Europeans controlled the industry. Of course, they were the worst prosecutors of this. But you had some black tribesmen that were involved in the slave trade. They weren't. It was a slave. It was, they were, they were capturing other tribes and they would sell them. So let's stop getting, being emotional and start being, being serious about solving this problem. We can solve it. It's not like somebody gave us a memo on capitalism and free enterprise. We screwed it up. We just never got the memo. Memo. I'm trying to give you the memo and trying to unpack it and repack it with you in mind. So we're projected to have a net worth that falls to zero by 2053 if we do nothing but black spending is already 1.6 trillion and is estimated to be over 2 trillion very soon. The gap isn't capacity, it isn't intelligence. Where the rules are published and the playing field is level, we kill it. Think about professional sports, think about the arts, think about entertainment, think about faith, church, think about politics. Right? We've become President of the United States of America from nothing, from slaves. We've run some of the biggest churches and faith based institutions. The first institution that black people control were the pulpits. It was the only place we could organize during slavery. And that legacy continues today. Bishop T.D. jakes in the Potter's house and what Reverend Jamal Bryant is doing here in Atlanta. And there's all these heroes and sheroes, Reverend Mark Whitlock, all these people, people. AME Church was responsible for the first black corporation, first black school, first black hospital. That was the AME Church that did that. Right? So don't run away from capitalism, run to it. Just become a good capitalist, not a bad capitalist. Good capitalism is where I benefit, you benefit more. Bad capitalism is where I benefit and you pay a price for it. The gap is in capacity or intelligence. When the rules are published in the playing field is level, we kill it. But it's what we don't know, that we don't know that's killing it. But we killing is what we think we know. We lack access, credit ownership and strategy. I just covered that in this last hour. We don't lack hustle, we lack structured systems. We lack plumbing. That's what this plan is about, economic plumbing and your hustle connected to it. I want you to go to the whole financial Wellness index. I want you to put your zip code in, I want you to figure out where you are in your credit score, pull your credit, have Operation Hope, do it and then set a target how you're going to increase it to 700 if that's 100. If you're at 600, you need to get to 100 points. If you're at 620, you need 80 points, so on and so forth. And then once you tie this into homeownership, small business funding, investment capital, make it hard for a bank or institution to say no to you on merit. I use this plan to come up from nothing, from South Central la in Compton, from a high school educated mom and dad in a poor family. I was homeless and now I'm in the 0.0. I think it's 0.01% of income and wealth in the biggest economy in the world. Me And I did it using the same philosophy. I'm telling you now, this isn't about theory. We've helped raise credit scores by over 50 points on average. Now we can scale homeownership and wealth creation. Homeownership is the number one wealth building tool in America where I told you what we need to do to go from 44% to 65%. 42, 44%. I've, I've recreated things, I've reimagined things like a 40 year mortgage idea which I'm trying to get some. That's in Time magazine. You want to read about my 40 year mortgage idea? Trying to. Maybe it's Fortune magazine, which one? It published it. But I'm reimagining because you're living longer. And anyway, that's another strategy I've got beyond a 30 year mortgage. I'm. I'm also pushing the envelope on policy. But I want you to build wealth renting someone else's. I don't want you to build wealth by trying to renting somebody else's dream. You can't do it that way. You got to build your own and own your own. I already talked about one MBB. Our strategy is to acquire 100,000 plus baby boomer owned businesses. The new strategy, 88 trillion to 100 trillion. Wealth transfers underway. 10 to 12 trillion of that's going to be businesses nobody wants. If we own the business, we own the jobs, the revenue and the future. We own ourselves. AI doesn't have to be to replace us. It can empower us, but only if we prepare. Now. My brother Van Jones has said that 99% of black folks don't know a thing about AI. But then he said, you know what? But 99% of white folks don't know a thing about A.I. either is equal opportunity discrimination. We're all in this thing together and we're starting at the same place in the world. Going to change by 2030, the whole thing, everything. So get on this train before it leaves without you. This plan that I've laid out to you is going to grow gdp, Gross Domestic product, bpba, the business plan for black America. I've created plans for Latino, Native Americans, Asians, poor whites, rural America. I think these plans together will add 5 to 7 trillion dollars of GDP every year. By 2053, it'll raise national annual GDP by a percentage. This is not about some handout program. It's not about D, E and I or this is diy. Do it yourself. This is not political, it's economic. Common sense or hello. We lift up those at the bottom. We don't just help them, we grow the entire economy. This is not woke, this is waking up. This is wealth. This is John Hope Bryant. I want you to join our 1865 project at operation Hope is. Become a member of Operation Hope, be a volunteer at Operation Hope, make a Hope commitment to yourself through Operation Hope to operationalize this business plan. Print it at Operation Hope, Dream forward. Share it, debate it, share it on social media, create a discussion around this, let this go viral. Let me know if you want me to continue in this series both on how we've gone from 6,000 years, how we can transform ourselves from being broke and having everything taken from us. Basically from 6,000 years to 6 years of really owning the game, owning our own lives and bettering the lives of others. We're not talking about replacing anybody. We're talking about expanding the table and adding a chair. There's room for everybody here. That's a Stephanie Rowe quote, by the way. Expand the table and add a chair. We're about growing gdp, growing the pie, not cutting up a poverty pie. Creating an empowerment, empowerment pie. If you want me to do the business plan, you want me to do that, to break down in a multi part series of how black people got here over 6,000 years, I'll do that, but only if you tell me to. You want me to do each of the business plans by by group, let me know that. I'll do that. If you don't want me to do it, there's plenty of other topics I can cover and I and I don't want nobody don't want me. So if you don't like the topic, I don't like it either. All right, I'm out. John O'Brien, this is Money and Wealth. Enjoy your day. I hope you're smiling. Money and wealth with John O? Brien is a production of the Black Effect Podcast Network. For more podcasts from the Black Effect Podcast network, visit the iHeartRadio app, Apple Podcasts, or wherever you listen to your favorite shows. In 2020, a group of young women found themselves in an AI fueled nightmare. Someone was posting photos. It was just me naked. Well, not me, but me with someone else's body parts. This is Levittown, a new podcast from iHeart Podcasts, Bloomberg and Kaleidoscope about the rise of deepfake pornography and the battle to stop it. Listen to Levittown on Bloomberg's Big Take podcast. Find it on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Are your money skills total trash? Well, trust me, you are not alone. Personal finance ignorance is as American as apple pie. But you can improve. Think, Matt, if your emergency fund was invested, especially given the volatility we're experiencing right now. Ouchies. Investing it is ultimately a necessity. But you gotta keep that emergency fund accessible. It needs to be cash parked in your savings. It's time to learn. And how to money is here to bring the knowledge. Listen to how to Money on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. Hey, I'm Jay Shetty. This episode, Lizzo, opens up like never before about self love, transformation and finding real peace in a world that constantly tries to define you. It's not me anymore. Whoever Lizzo is to the world is not really even me. And that disconnect is depressing. The Grammy goes to Lizzo. Listen to On Purpose with Jay Shetty on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts. Have you ever wondered, if your pet is lying to you? Why is my cat not here and I go in and she's eating my lunch? Or if hypnotism is real, you will use suggestion in order to enhance your cognitive control. But what's inside a black hole? Black holes could be a consequence of the way that we understand the universe. Well, we have answers for you in the new iHeart original podcast, Science Stuff. Join me Jorgeham as we answer questions about animals, space, our brains and our bodies. So give yourself permission to be a science geek and listen to science stuff on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.