*Financial literacy entrepreneur John Hope Bryant is passionate about inspiring people so that they can take action to change their lives. He has so far authored five phenomenal books, each meant to positively impact people so that they can take steps to be financially fruitful.
In an interview with “Rolling Out,” Bryant said that he wants anyone who reads one of his books to be a better person — that is, smarter and more enlightened.
“[I want you to have] a different software working on your system,” he said. “It’s like a little private university, so I guess the summary of that is I have a business plan in my head. I’m operationalizing it every day as an entrepreneur. I’m talking about it occasionally in speeches and in interviews like this, but we can only cover so much. It’s episodic. The books are designed to take the episodes, put them in the chapters, frame them into a narrative of 12 of those chapters and present you with a game plan, ultimately, when you read all the books, that changes your life.”
He then got to explain why he insists smart Black entrepreneurs should own land. He pointed out that the spending power for Black folks doubled during the pandemic, from $1.2 trillion to almost $3 trillion spending power. But at the same time, Black folks’ net worth is reduced because they are not owning homes or businesses with employees.
“96 percent of all Black businesses don’t have an employee,” he added. “They’re like a self-employment project. It’s like I got a contract, and I’m going to go get a business license, but really I’m just creating an income for myself. That’s not really business in the way in which we should be thinking about it, but how do you build wealth? Homeownership, small business ownership, stock market earnings, you build wealth in your sleep. That’s why homeownership is so important because it compounds. My real estate in Atlanta grew 41 percent in two years.”
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For example, he explained that he is no genius, but his real estate grew by 41 percent from 2019 to 2021. In short, by just investing in real estate, time made him a genius.
“Think about it, the people watching this, or listening to this, think about if you own a home worth $100,000, it would be worth $140,000,” he reasoned. “I mean, you didn’t do anything else, you just owned a home. If you’re renting, you’re taking that money and throwing it out the window. Even if you’re renting [from]for me. … This is a really important conversation.”
Bryant didn’t get to where he is by himself — he was mentored by two very important figures. They were the Atlanta mayor, Ambassador Andrew Young, and the legendary producer Quincy Jones. Asked why he chose to have a mentor and develop a relationship with an older Black man like Andrew Young, Bryant said that he didn’t aim to be a Black businessman but a great businessman who happened to be Black.
“I was trying to be international when I was 19,” he said. “At 19 years old, I didn’t see any international Black businessmen. The only Black businessman I saw doing anything nationally was Reggie Lewis. As I looked at international leaders, I saw Quincy Jones, and I saw Ambassador Andrew Young. Quincy was in music and Ambassador Young was cross-fit in politics and social justice, I went to both.”
He added that God made a way to allow him to bond with the two men. Of the two, his relationship with Ambassador Young is much stronger.
“Quincy and I have had a wonderful decades-long relationship, (but) he considers me his brother, not his mentee,” he stated. “Ambassador Young adopted me as a surrogate son. I want to thank Bo Young, his son, his bloodline, Andrew Young III, for allowing me, and not being intimidated or insecure, about me having that facilitated relationship with his father.”
He added, “I wanted to know how do you operate in 100 different countries. How can you be the best at what you do, and not just be the Black guy doing what you do?”
He found all these answers in the person of Andrew Young.
“He is iconic, he is the closest thing we have, I’m not being hyperbolic here, I want people listening and watching to tell me: who else do we have? Other than Ambassador Young; who is like Nelson Mandela in the world today? One hundred and thirty honorary doctorate degrees, 130. Presidential Medal of Freedom, French Foreign Legion Award, first Black man to be a (United Nations) ambassador.”
Bryant went on to pile praises on Andrew Young.
“We think it is normal to have a Black ambassador, he was the first. First Black man to be a Congressman since reconstruction in the South. Only Black mayor to be mentored by Dr. King. Built in Atlanta, the only international city in the South, it’s literally true. He brought the Olympics here, brought international companies here. He, Maynard Jackson, and others, made it the 10th largest economy in the country, which it is today. We can go on and on, people don’t have any idea of the impact of Andrew Young because he’s humble.”
He said that Andrew Young understands business, though he never wants to be considered a businessman.
“So, I wanted to be mentored by the best and he has integrity,” he added. He further said Andrew Young is friendly and kind.
Bryant said he was more ambitious than his parents. He also had higher aspirations, so he needed to adopt spiritual parents for that next level of travel.
“That’s where the mentor should be. The ring you reach for,” he said in conclusion.
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