Culture and Politics

Black Celebrities and The Destruction of Black Wealth

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Black Celebrities have been dying left and right over the past few years. Celebrities like Aretha Franklin, Prince, John Singleton, Nipsey Hussle,  and Michael Jackson all passed without a will. Generally, Black Celebrities like the ones mentioned above, have amassed a large amount of wealth, but for some reason are not leaving any wills in place. Family members and friends are fighting over the spoils of their wealth. Recently, John Singleton passed away at fifty one years old, but left no will for his children and siblings, and they are in court fighting over his fifty million dollar net worth as we speak.

Black Celebrities Who Are Dying Without a Will is Alarming

The amount of Black Celebrities who are dying without a will is alarming. Why are so many celebrities  going to their graves with no wills in place to pass on the wealth. Is there a conspiracy to keep Black Entertainers from passing on their wealth? Many celebrities have financial advisors, but who is advising them on what do with their money? Nipsey Hussle was another well known celebrity who amassed a fortune but died without a will. At this very moment, Nipsey’s brother Black Sam is fighting with his children’s mother over how to handle his money for their children. The entertainment industry is known for not being to friendly to black people and their wealth.

During the early 30’s and 40’s many black singers and entertainers had white managers who made them sign over most of their royalties  etc. We as a people didn’t have access to the best attorneys, and would always end up with a bad contract. I overheard that Stevie Wonder signed a contract into perpetuity on his royalties to his attorney. Once the attorney died, his wife tried to hold Stevie to the contract. Please! Black Celebrity after Black Celebrity have been jipped out of their money and royalties for decades. Comedian Redd Foxx disputed his contract several times during his hit tv series Sanford and Son. Redd Foxx died broke like so many other celebrities before him.

Generational Wealth Is Being Interrupted

The passing down of wealth to the next generation is interrupted for some reason. These entertainers are making millions of dollars but it’s not getting passed down to the next generation. The question is why, the corporate structure called the entertainment industry is sending these guys to their graves broke and destitute? Generation after generation is being hoodwinked out of massive black wealth.  We can name so many celebrities like a Prince, James Brown, Aretha Franklin, and Whitney Houston etc. who seem to lose it all. Black Celebrities like Prince and Michael Jackson were very astute men, and by no means a dummy when it came to their money. Now, folks like R Kelly and Bill Cosby, may be next in line to lose hundreds of millions of dollars.

Prince’s estate is being held up in court as we speak. They are taxing his estate a million dollars a month according to some reports. Michael Jackson’s estate is being sued by alleged former rape victims, even after some were settled out of court. Plus, the debt he owed to the record companies have to be paid. The wealth always seems to go back to the dominant society. The money is not touching the hands of the next generations and that needs to stop.

Conclusion

Black Celebrities and Black Wealth is synonyms. The problem is generational wealth is not synonyms to entertainers passing on their money to the next generation. The economic drain that has continued for decades must stop inorder for the descendants of these, and future celebrities to thrive into the future. Many celebrities and entertainer’ s money are getting caught up in probate court after their death. Probate Court is stopping the passing of wealth on to the next generation.  Due to the lack of wills, created by a deceased entertainers, the money is getting taxed by accounts, lawyers, and estate attorneys. This brings down the net worth of the Black Celebrity to damn near zero.

Family members and friends can spend years fighting over money in court. When it’s all said and done no one walks away with any substantial amount of wealth to pass on to the next generation. The game is a cycle of death that most can’t win even if we wanted to.

Wake Up They Playing You and You Can’t Even See it!

 

 

 


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One Response

  1. Kiesha Joseph Kiesha Joseph May 31, 2019

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