BLACK ENTERPRISE To Present Town Hall To Focus On Closing America's Racial Wealth Gap And Increasing Black Homeownership

Latest installment of Economic Equity and Racial Justice Series, aired on September 9, and addressed the roles of Corporate America, policy makers and the Black Community

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Black Enterprise

Sep 10, 2021, 16:00 ET

NEW YORK, Sept. 10, 2021 /PRNewswire/ -- BLACK ENTERPRISE, the No. 1 multimedia resource for African American entrepreneurs and business leaders, presented the latest installment of the BLACK ENTERPRISE Economic Equity & Racial Justice Town Hall Series: "Homeownership and Wealth Building: Creating Pathways To Lasting Black Prosperity" aired on Thursday, September 9, 7:00 p.m. – 8:30 p.m. EST. The virtual town hall series is produced in partnership with the Executive Leadership Council as Presenting sponsor, with CNN Political Commentator Bakari Sellers serving as moderator for the series.

Panelists for the Homeownership Town Hall session included Operation Hope Founder, Chairman and CEO John Hope Bryant, Freddie Mac Equitable Housing/Single Family Business Vice President Pam Perry, and Walmart Specialty Tax Vice President Wayne Hamilton. Remarks will also be delivered by Executive Leadership Council Board Chair and Citigroup Community Reinvestment Act Officer Lloyd W. Brown II, and BLACK ENTERPRISE CEO Earl "Butch" Graves Jr.

At $171,000, the net worth of a typical white family is roughly ten times greater than that of a Black family at $17,150. That yawning gap is most clearly reflected in rates of homeownership, the cornerstone of American family wealth. Only 45.1 percent of Black households' own homes, compared to 73.8 percent of non-Hispanic white households.

"This enormous Black/White wealth gap and other economic disparities are clear evidence of the impact of generations of inequality and discrimination, as well as the continuing cycle of diminished access to opportunity," says Graves. "Our discussion will focus on not just defining the problem but exploring solutions. What should corporate America, and especially financial institutions, do to demonstrate a true commitment to dismantling systems of inequality, and investing in programs to promote equity in wealth and ownership for Black people? Additionally, what should we be doing in our own households and communities to increase Black homeownership and close the racial wealth gap?"

"Homeownership and Wealth Building: Creating Pathways To Lasting Black Prosperity" is the latest of a series of virtual roundtable sessions featuring top corporate executives, entrepreneurs, financial experts and thought leaders. The roundtable discussions will examine a range of challenges confronting communities of color, with the goal of yielding strategic plans to galvanize Black Americans to act. The sessions seek to advance the state of the Black community, help position Black professionals to gain more C-suite and board positions, increase capital and procurement opportunities for Black-owned businesses and ensure corporate America's accountability to their diversity, equity, and inclusion initiatives.

To watch the replay, log on to the BLACK ENTERPRISE Economic Equity & Racial Justice Town Hall Series, at https://www.blackenterprise.com/townhallrecaps

About The Executive Leadership Council:
The Executive Leadership Council, an independent non-profit 501(c)(3) corporation founded in 1986, is the preeminent membership organization committed to increasing the number of global black executives in C-Suites, on corporate boards and in global enterprises. Comprising 800 current and former black CEOs, senior executives and board directors at Fortune 1000 and Global 500 companies, and entrepreneurs at top-tier firms, its members work to build an inclusive business leadership pipeline that empowers global black leaders to make impactful contributions to the marketplace and the global communities they serve. For more information, please visit www.elcinfo.com.

BLACK ENTERPRISE is the No.1 Black media brand, with more than 8 million monthly unique visitors. Since 1970, BLACK ENTERPRISE has been the premier business, career, investing, and wealth-building resource for African Americans. BLACK ENTERPRISE produces video and podcast programming, virtual and in-person business and lifestyle events, other digital media. Visit www.blackenterprise.com for more information.