Half of Richest African-Americans Linked to Sport

A recent FORBES ranking shows that despite the real and perceived advances in the last generation, 10 of the 20 wealthiest African-Americans have a strong relationship to sports, either as a player or an owner.  Oprah Winfrey, as expected, leads the list by a long shot, garnering $2.7 billion through shrewd investment and media moguling.

David Lettermam Oprah Winfrey Super Bowl

(”I could buy and sell you with my Dr. Phil profits alone”)

However, Tiger Woods follows at $600 million and growing.  From there, Robert Johnson (Charlotte Bobcats owner) and Michael Jordan (Bobcats president) lead a procession that implies the best way to become a wealthy black man is still to hit the gym or own one.

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Bobcats Owner Not Really Into Whole NBA Thing

It’s a pretty safe bet that if you make Mark Cuban look like the most refined and respected franchise owner in the room, you are probably not the shining beacon of NBA ownership.  Speaking on CNBC’s Squawk on the Street (link is to video) in an interview intended to be about the league’s 9% labor reduction, Charlotte Bobcats owner Bob Johnson set a new record for feet in his mouth.

Bob Johnson

Johnson, who made his fortune primarily as the founder of Black Entertainment Television, opened the segment by making a joke about his team not being good, which is actually true, but certainly not confidence-inspiring coming from the owner.  Later in the segment, when asked what he was doing about ticket prices in the NBA, a question Cuban answered directly, Johnson had this to say (after the jump): Read more…