Monthly Archives: March 2012

HBCU Money™ Business Book Feature – Why Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business Empire

Why Should White Guys Have All the Fun? is the inspiring story of Reginald Lewis: lawyer, Wall Street wizard, philanthropist — and the wealthiest black man in American history.

When six-year-old Reginald Lewis overheard his grandparents discussing employment discrimination against African Americans, he asked, “Why should white guys have all the fun?” This self-assured child would grow up to become the CEO of Beatrice International and one of the most successful entrepreneurs ever. At the time of his death in 1993, his personal fortune was estimated in excess of $400 million and his vast commercial empire spanned four continents. Despite the notoriety surrounding Lewis’s financial coups, little has been written about the life of this remarkable man. Based on Lewis’s unfinished autobiography, as well as scores of interviews with family, friends, and colleagues, the book cuts through the myth and media hype to reveal the man behind the legend. What emerges is a vivid portrait of a proud, fiercely determined individual with a razor-sharp tongue — and an intellect to match — who would settle for nothing less than excellence from himself and others.

HBCU Money™ B-School: Credit Event

Any sudden and tangible (negative) change in a borrower’s credit standing or decline in credit rating. A credit event brings into question the borrower’s ability to repay its debt. It is the defining trigger in a credit derivative contract, or credit default swap. If the borrower experiences a credit event, then the buyer of the contract must pay the seller an agreed-upon sum to cover the loss.

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HBCU Money™ Presents African Diaspora’s 5 Wealthiest of 2011

Forget rappers or athletes. None make the list. Forget just America this list goes global. After all the African Diaspora represents approximately 1.2 billion people of African descent no matter where we are in the world. Just because we left home (or were taken) we are still sons and daughters of Mother Africa.

Initially, this list was supposed to be a top 10 as we assumed with a record 1,226 billionaires found this year through our source we surely expected to need a cutoff point. Couple that with the motherland being the richest natural source on the planet we thought we would unquestionably be well represented on the list. Unfortunately, we as often seems to be the case more times than not others are benefiting more from our contributions than we are because we rarely own or control the vehicles of which wealth is created. So the five you see listed below is actually all there was. It works out to us making up an abysmal 0.41% of the entire list despite us comprising 17.6% of the world’s population. There truly is work to be done.

1 – Aliko Dangote (pictured above)

Net Worth: $11.2 billion Residence: Nigeria

Industry: Sugar, Flour, Cement

2 – Ananda Krishnan

Net Worth: $9.9 billion Residence: Malaysia

Industry: Telcom

3 – Mike Adenuga

Net Worth: $4.3 billion Residence: Nigeria

Industry: Telcom, Banking, Oil

4 – Patrice Motsepe*

Net Worth: $2.7 billion Residence: South Africa

Industry: Mining

5 – Oprah Winfrey*

Net Worth: $2.7 billion Residence: United States

Industry: Television

*HBCU Alumnus

Source: Forbes

HBCU Money™ B-School: Treasury Bill or T-Bill

A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations of $1,000 up to a maximum purchase of $5 million and commonly have maturities of one month (four weeks), three months (13 weeks) or six months (26 weeks).

T-bills are issued through a competitive bidding process at a discount from par, which means that rather than paying fixed interest payments like conventional bonds, the appreciation of the bond provides the return to the holder.

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HBCU Money™ Business Book Feature – McMafia: A Journey Through the Global Criminal Underworld

With the collapse of the Soviet Union, the fall of the Berlin Wall, and the deregulation of international financial markets in 1989, governments and entrepreneurs alike became intoxicated by dreams of newly opened markets. But no one could have foreseen that the greatest success story to arise from these events would be the worldwide rise of organized crime. Today, it is estimated that illegal trade accounts for one-fifth of the global GDP.

In this fearless and wholly authoritative investigation of the seemingly insatiable demand for illegal wares, veteran reporter Misha Glenny travels across five continents to speak with participants from every level of the global underworld—police, victims, politicians, and even the criminals themselves. What follows is a groundbreaking, propulsive look at an unprecedented phenomenon from a savvy, street-wise guide.