Paul Graham, a founder of Y Combinator, recently tweeted a graphic showing median household income in the US by ethnic group which has reignited discussions about race and income inequality in the US. The graphic, originally shared by @indiainpixels in 2020, is reportedly based on US Census Bureau 2013-15 data. The chart reveals that Indian, Filipino, and Taiwanese Americans had the highest median incomes, while Hispanic/Latino and African Americans had the lowest. Additionally, the chart shows that Indian, Korean, Chinese, Filipino, and Japanese Americans are more likely to have a Bachelor’s
Since its launch in 2021, Stackwell Capital has worked hard to eliminate the racial wealth gap, and the launch of its new Robo-investing app is a testament to this. The app which has launched yesterday and is currently available for download in the App Store. The program, intentionally designed for the Black community, has given users endless opportunities to enhance their knowledge of the financial market. New data has revealed that white households hold eight times more wealth than Black households. Additionally, only 34% of Black households invest in the stock compared to white
Binga founded the Binga State bank in 1908 in Chicago and it was one of two pre-eminent Black-owned financial institutions in the US until its collapse during the Great Depression. Born in Detroit in 1865, Binga established himself in Chicago first as a real estate broker during the Great Migration. He was able to buy homes at a cheap price from white locals fleeing their neighborhoods in the wake of Black Americans moving in from the South. After buying the homes – he was able to fix them up himself and
