Over the last 30 years, black America has experienced phenomenal growth in both its business leadership class and its actual number of millionaires. These self-employed entrepreneurs and corporate executives have come to be defined by what is now acknowledged as the “New Black Power.” As the August 1997 Fortune magazine proclaimed, from Wall Street to Hollywood, a new generation of African-Americans is seizing real power in the world of business. Within the music industry, young hip-hop artists are using hit records as a stepping-stone to business development and ownership. They are ambitious on a scale their predecessors never dared to reach for, and the most savvy members of the generation understand, in no uncertain terms, that money is power. It is this generations’ focus on wealth accumulation that distinguishes them from their predecessors.
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