Meet the Newbos
by Guest Contributor Jesse Singal, originally published at CampusProgress.org
Newbos: The Rise of America’s New Black Overclass, a one-hour CNBC documentary examining megarich black entrepreneurs which premiered last night, comes at an odd time. Hosted by Lee Hawkins of The Wall Street Journal (who is also a CNBC contributor), the show emphasizes the tremendous successes a select group of African-Americans have had in the sports and entertainment industries, but does so during a period in which African-Americans as a whole—along with just about every other demographic—are suffering immensely as a result of the United States’ collapsing economy. Why, then, focus an hour on stories of stratospheric accomplishment, some of which have as much to do with freakish distributions of natural talent as business savvy? Don’t we have more important things to learn about race and wealth, especially given that African-Americans were disproportionately affected by the subprime mortgage crisis?
Newbos could have overcome these troublesome questions if it had explained something novel about how race and wealth interact in America, or if it had advanced some bold new argument about what it means to be rich and African-American. Unfortunately, it does neither. In many regards, Newbos instead follows in the footsteps of the chronically ill and chronically myopic economic reporting that failed to predict the current collapse (a lot of which emanated from, ahem, CNBC). This reporting—which often looked more like cheerleading—was fixated on success stories, treated “millionaires created” as one of the only meaningful economic metrics, and decided not to bother tackling that whole pesky inequality thing. Newbos, despite the occasional noteworthy nugget, makes all the same blunders: It celebrates black entrepreneurship and focuses on some of the obstacles that very successful African-Americans must overcome, but refuses to face or address any of the real issues related to wealth distribution and race.
Hawkins, who devoted three years to researching and writing an upcoming book with the same title, devotes chunks of the hour to interviews with and examinations of NBA superstar LeBron James, Major League Baseball star Torii Hunter, gospel singer Kirk Franklin, BET founder and Charlotte Bobcats majority owner Robert Johnson, NFL wide receiver Terrell Owens, and, as a pair, brothers Ronald Slim and Bryan “Baby” Williams, the CEOs of Cash Money Records.
These interviews have some interesting moments. James exudes selflessness when he discusses how he hopes his success opens doors for those around him, how he wants the legacy of the management company he founded, LRMR Marketing, to reflect not just his own influence as a basketball player, but the hard work of the talented roster of African-American businesspeople who built it from the ground up. Johnson talks about the “loneliness” that comes from being one of only two African-American billionaires (Oprah Winfrey is the other). And Slim and Williams discuss the importance of diversifying their business interests in order to survive the tough economic times to come (the two have dipped into the seemingly endless market for ring tones, and have signed the artist Kevin Rudolf, who is closer to rock than rap, to their hip-hop label).
There’s a thinness to all of this, however, because a lot is left unsaid. Every one of these success stories is undoubtedly inspiring in its own way. But we don’t hear much about what’s new here. Michael Jordan rewrote the rules of what it means to be a megarich African-American superstar 20 years ago, and was in certain key regards the first such star to see himself not just as a successful athlete or singer, but as a marketing asset to be built up over time. How are things different now? More importantly, Hawkins doesn’t show much interest in looking at the systemic inequalities and dysfunctions that continue to plague African-Americans to this day.
The easy response to this is: Well, it’s CNBC. The network covers business and businesspeople. Social commentary isn’t its thing. But the intersection of race and class is about as fraught a topic as you can get. We live in a country in which race-based inequality is, and always has been, a pressing human-rights issue. Whether or not this falls under CNBC or Hawkins’ “beat,” the exclusion of a serious discussion of any of this means only a tiny fraction of the intended story is told.
The one time Newbos brushes up against these topics comes not from Hawkins or any of the famous interview subjects, but from a kid in a youth group Franklin (the gospel singer) heads at his church. He tells a heartbreaking story about how, when he told his teacher he wanted to go to law school, she immediately cut him off and told him it wasn’t going to happen. This is a far more revealing, affecting moment than anything else that occurs during the documentary. It’s a brief glimpse at the complicated structures and institutions that undergird inequality, which, other than during this brief moment, never get more than a passing glance.
Another curious aspect of the show is the lack of any female African-American success stories. Obviously there are some—though not enough—and obviously their stories would have added an extra layer of interest to some already wrought issues. Hawkins mentions Oprah plenty (how could he not?), but she doesn’t garner her own segment, and no other successful female African-Americans come up. Why not discuss Beyoncé? Or, perhaps more interestingly, Gwen Ifill? Or how about Tyra Banks, Kimora Lee Simmons, or Sheila Johnson? For a documentary already hampered by its narrow level of focus, the exclusion of any female presence hurts.
Newbos tells us very little about race and class, and it tells us very little that is new or useful about rich African-Americans. What it does tell us, albeit inadvertently, is that the CNBCs of the world don’t seem to have quite learned their lesson. We’re living through what some are calling the biggest economic crisis in eight decades, and during every step of the run-up to it we were presented with smiling images of successful, recent millionaires and billionaires. We were told that they were paragons of the entrepreneurial spirit, of the potential of the free market, of the value of hard work. And in many senses they were. But as the cameras lingered on them and their lavish lifestyles, ignoring the alarming, widening gap between rich and poor, the unsustainable system that many of them exploited began to fall apart, taking us all with it. Newbos, rather than turning against these rose-colored tendencies for what could have been an important discussion on wealth and race, has instead embraced them. The timing could not be worse.
Jesse Singal is an Associate Editor at Campus Progress.
(Photo Credit: CNBC)
Carmen Van Kerckhove is co-founder and president of
Fiqah wrote:
Although I think I’ll probably arrive at the same conclusions about this doc as the author did, I’m going to watch it. (I mean, it’s only fair to watch and then judge right?) Having said that, I’m glad that this article touched on a tendency that some Black folks who “make it” have of suddenly believing that their success indicates that we do indeed live in a meritocracy, and often end up touting that supposed meritocracy’s professed values. Privilege blinders, lack of empathy, I’m not sure what to call it. But a friend of mine, who went from an economicallty-disadvantaged childhood in the South Bronx all the way to Cornell, put it like this: “Just because I’M okay does not mean that shit is okay.” Yep.
Posted 09 Mar 2009 at 11:19 am ¶
gatamala wrote:
Instead of discussing why singers and athletes compose a disproportionate number of black millionaires, he comes up with a catchy term to push his book.
He must be really pressed to hang out with Diddles.
Posted 09 Mar 2009 at 11:39 am ¶
AverageBro wrote:
I too watched this show, and found it to be profoundly lacking in substance.
But if there’s one thing to remember, it’s that this show is doing little more than promoting a book that was 3 years in the making. That’s the point, not making some grand statement about the new generation of black wealth.
I’m assuming the scope of the book is equally narrow, which sorta excuses the poor execution (and odd timing… end of Blk Hist Month, middle of recession) of this special.
Not that I’m cutting Hawkins any slack. He should know better.
Posted 09 Mar 2009 at 11:41 am ¶
Monie wrote:
Bob Johnson is lonely because he’s hated by millions of people for creating and then turning BET into the minstrel network.
I’m always amazed that the media interviews Johnson and never confronts him about BET and that he got rich by dealing in stereotypes.
And I don’t get the point of this special unless it’s to say that Black people are either some sort of successful freaks or miserable failures. There is never anything in between like for instance the Black middle-class which remains invisible to the MSM.
Posted 09 Mar 2009 at 11:46 am ¶
tallulahbankhead wrote:
I feel specials like this are targetting people who discovered African Americans (all, regardless of wealth) existed on November 5, 2008.
But I’m glad you watched so I didn’t have to do it.
Posted 09 Mar 2009 at 12:50 pm ¶
CMyers wrote:
I haven’t seen the doc yet, but it sounds like it’s reflective of a much larger societal problem: We value fast money and individual celebrity over education and community. Did any of these celebrities mention how their education or community help them get ahead?
Posted 09 Mar 2009 at 1:07 pm ¶
Amused0472 wrote:
I would prefer that they had focused on people outside of sports and entertainment. Our president is a perfect example of how to succeed with hard work and education. They could have talked about Reginald Lewis, Ken Chenault, B. Smith, and many others.
Posted 09 Mar 2009 at 2:11 pm ¶
atlasien wrote:
The Cult of the Rich Celebrity has helped polarize the approach to wealth in this country. You can either worship it, or else reject it (or pretend you reject it). There’s hardly any “in between” left. I’m much more interested in hearing narratives about people who get rich slowly (and in a reasonably ethical manner).
Anyway, I bet many of the millionaires in the above documentary are going to end their lives broke. The kind of person who succeeds in entertainment is usually not the kind of person who knows how to hold on to money. Money managers in that industry are experts at scamming and fleecing their clients. And professional athletes have a pretty short amount of time to maximize their lifetime earnings before their bodies give out and their career is over.
Posted 09 Mar 2009 at 2:14 pm ¶
cdennis wrote:
Here is the link to the full episode on hulu.
http://www.hulu.com/watch/59924/cnbc-originals-newbos-the-rise-of-americas-new-black-overclass
Posted 09 Mar 2009 at 2:15 pm ¶
Madame Zenobia wrote:
but it sounds like it’s reflective of a much larger societal problem: We value fast money and individual celebrity over education and community.
I agree. And, I blame ‘the bling’, wanting ‘the whole bling’ and nothing but ‘the bling’ on this ‘rise’ of fast-money gettin’ millionaires.
And some ‘entertainers’ are so ‘worshipped’ by their rabid fanbase that were you to say something contrary to that entertainer’s lifestyle or image, the first thing they scream is, “well he/she’s rich so it don’t matter what you say about them!” or something along the lines of, “stop hating! they constantly countin’ stacks and you broke!” or something to that ridiculous affect. (Bad English intended).
I’ve visited many a entertainment/gossip site where this sentiment was shared and expressed, mainly by young, juvenile fans who yet don’t realize the value of community and good education as they are (much like the ‘idols’ they worship) hypnotized and blinded by fast money and ‘bling’ and ‘gettin’ rech!’, etc. It’s really just sad. I, too, wonder how many of ‘these’ folk will still have their money when they are old and crotchety? Very few of them will, I think and with this am inclined to agree with atlasien above.
Posted 09 Mar 2009 at 2:24 pm ¶
BluTopaz wrote:
I agree with Madame Zenobia’s comment re: the “rabid fanbase” of certain celebs. It seems like the ability to count paper is more relevant than the perfection of craft and talent. I have seen this debate played out re: discussions of Tyler Perry’s McMovies, where many a trained Black filmmaker with thought provoking, non-stereotypical screenplays are unable to get financing. But to hear many of his fans tell it, his ascension is more important than the content of what he is selling. Not to pick on TP, this is just one example of the low quality of standards in many of our communities.
Anyway the topic of this doc is beyond lame and I will not watch it. It’s like an Ebony mag article from 25 years ago. Black people dance, sing and play ball-what a revelation. And yeah, P. Diddy needs more exposure-yawn.
Posted 09 Mar 2009 at 5:42 pm ¶
Antonio wrote:
I agree that a special about people outside of sports and entertainment would’ve been more interesting. Rappers and athletes are already the primary image of the successful black man, why not counter that idea with something more, ahem, realistic? The lack of female subjects is also disappointing.
Posted 09 Mar 2009 at 7:07 pm ¶
Miles Ellison wrote:
@BluTopaz
This is an argument that I’ve heard repeated over and over again. When the content of Tyler Perry or the latest rapper is criticized, all people can say is “well, they’re rich”, as if that gives them talent. Tyler Perry’s ascension only guarantees the green lighting of similar types of entertainment, it doesn’t open the door for more thoughtful, less stereotypical entertainment involving people of color because that’s not what sells.
As far as this special is concerned, CNBC is all about greed and obnoxious wealth accumulation. None of their financial programming has any relationship to the world of normal people, or the world of finance that most people inhabit.
Posted 09 Mar 2009 at 7:28 pm ¶
NancyP wrote:
It would be interesting to do a history. I’d include a segment about Madame Walker and other less famous specialists in AA hair and cosmetics products (St. Louis has one, Annie Malone, who left money in her will for a “children’s home” (orphans, and children needing somewhere to live while parent works as migrant worker) ). A profile of pre-1920 black Tulsa commerce would be interesting, and a chance to introduce the economic influence on and of anti-black pogroms. It would also be interesting to point out the difficulty in obtaining and growing capital, particularly after the demise of formal segregation reduced opportunities for small businesses serving the black community.
Too PBS-ish for a commercial station, even though Walker and her family were outsized characters starring in gossip columns, which were predecessors of the glossy celeb mags.
Posted 09 Mar 2009 at 7:36 pm ¶
lunanoire wrote:
@ atlasien- Hear hear! $ that comes quickly can go just as quickly. it’s also unfortunate that so many young people want careers in entertainment despite its abysmally low success rate.
Posted 09 Mar 2009 at 11:44 pm ¶
Eva wrote:
I wonder how many of these “newbos” will still have their money when they’re seventy-five.
Posted 10 Mar 2009 at 9:09 am ¶
CMyers wrote:
@BluTopaz
I agree, but the problem with discussions surrounding TP and Black-centered media is that it ends up being a narrow minded attack on TP (and cross dressing) and the intelligence/class/religion of his fans rather than a hard look at the industry and the way society values black culture as a whole.
Posted 10 Mar 2009 at 12:27 pm ¶
Dan wrote:
Maybe it’s just me, but the word “Newbo” sounds like it could easily be turned into a racial slur. It just has that ring to it.
And anyway, this concept rings false to me. The black people who have become rich through entertainment and sports are still dirt-poor compared to the truly wealthy old-money whites.
Whether or not many African-Americans will rise to that level eventually remains to be seen, but as long as this culture is still dominated by said wealthy white people I don’t see that as a very likely scenario.
Posted 10 Mar 2009 at 1:12 pm ¶
Fiqah wrote:
@Dan: Seconded. Too many linguistic similarities to “negro” and “Sambo.” Bothered me, too.
Posted 10 Mar 2009 at 1:31 pm ¶
Vee wrote:
“Why, then, focus an hour on stories of stratospheric accomplishment, some of which have as much to do with freakish distributions of natural talent as business savvy?”
That’s about it.
Small note, Magic Johnson was really one of the first athletes in the NBA that paved the road for Michael Jordan to walk and then fly. Magic made it happen for Madison Avenue and continues to do so past his NBA career.
It’s odd that Tyra Banks, a former super-model who is breaking the stereotype of what a model can be and creating her own global media empire did not get featured amongst other female entreprenuers.
The one thing that DOES not escape me is that these businemen owe their fortunes to entertainment in one form or another. I believe entertainment is America’s chief global export. I’m not sure, but I heard that often.
Posted 10 Mar 2009 at 4:26 pm ¶
Asada wrote:
all the millionaires on the cover are entertainers/athletes. Where are the scientists, artists ( not entertainers!!!!) and academics? Three are from sports , two are from music.
Can’t take it serious if THIS is what they show me.
Posted 10 Mar 2009 at 5:05 pm ¶
Asada wrote:
also, none of them are women!!!
Posted 10 Mar 2009 at 5:09 pm ¶
BSK wrote:
Deliberate or not, it seems as if the primary outcome of this show is simply going to further enrage white America against successful PoC’s. There is already enough:
A) Backlash against the wealthy/successful (some deserved, some not)
B) Backlash against athletes and entertainers
C) Backlash against PoC’s.
Many white people already begrudge the “thugs” in the NBA who get paid “too much” (funny how you rarely hear such vitriol aimed at white baseball players or quarterbacks). Was it really necessary to feature uber-rich (see A above) black (see C above) celebrities (see B above) during a time when so many Americans (of all races/classes/etc.) are losing their jobs? Isn’t this the type of propaganda that Germany used to help rally support for the “Final Solution”?
“YOU’RE ALL STRUGGLING WHILE THESE GUYS ARE RUNNING AROUND, LIVING THE GOOD LIFE, AND ONLY BECAUSE OF THE WAY THEY WERE BORN!”
Barf. Way to fuel some more “Right America Feeling Wronged” footage, CNBC.
Posted 10 Mar 2009 at 9:19 pm ¶
CDF wrote:
Folks its either this or CNN’s “Black in America” (coming in July?) though you could sneak in Marijuana Inc. Inside America’s Pot Industry if you’re adventurous enough…LOL/SMH!
Posted 11 Mar 2009 at 11:48 am ¶
Betty Chambers wrote:
This is the media’s favorite past time: show that black people can only make money as “entertainers.”
Black Enterprise covers millionaires and billionaires all the time. However, these business people are non-flashy, educated, straight-laced, and probably too boring for these networks to cover.
Posted 11 Mar 2009 at 1:23 pm ¶