Black American fears that the election of Republican George Bush to the Presidency will erode the gains of African Americans is still speculation. The realization is that in California, the Republican sponsored anti-affirmative action Proposition 209 was upheld in the California Supreme Court and now State and local officials reluctantly have to comply. As a result, even the City of Richmond, with six Black City Council Members out of nine total, is discontinuing its affirmative action provision. "The dismantling of affirmative action is very painful, but it's the law," states Richmond Black Vice Mayor, Nat Bates. "We are searching for other alternatives", he continued. Many cities and counties attempting to salvage affirmative action in contracting are examining model programs such as Los Angeles and Oakland.

Meanwhile, African Americans, catapulted by affirmative action, are pushing forward on numerous economic fronts in the private sector. The year 2000 listed the first Black billionaire, Robert Johnson. Mr. Johnson sold his 63% ownership of Black Entertainment Television (BET) to Viacom for more than $2 billion.

Then comes Kathy Hughes, President of Radio One's 50 radio stations and the first Black woman to take a company public, raising $156 million on the first day. She is worth over $400 million and the Black venture capitalist that invested in her; Terry Jones of Syncom Capital Corp. is now worth $76 million. The Black trade newsletter, Securities Pro, lists the 100 wealthiest Black Americans, not including entertainers and athletes, substantiating that Blacks are also acquiring massive fortunes by becoming President and CEO of white owned public companies (11 Black Presidents) and taking their own companies public (8 Black IPO's).

For example, here in the Bay Area, Bob Knowling, the former Black CEO of Covad Communications in Silicon Valley, took his white owned company public and received stock worth $100 million dollars. John Thompson, President of Symantec Corp in Silicon Valley, also took most of the $100 million that was added up between him and other hired Black Chief Executives, Clifford Alexander of Dun & Bradstreet and Barry Rand of Avis Rent-a-Car.

The Suttons of Inner City Broadcasting that owns 6 radio stations including KBLX in San Francisco are worth over $50 million. Oakland's Ken Simmons, former U. C. Planner, Architect, Professor and EBMUD Board Member who always jokingly claimed he was an "under-financed minority African American businessman from Muskogee" hails from an old money oil rich family in Muskogee, Okla. worth over $25 million. Being watched closely are Real Estate Developers Chuck and Paula Collins who are major developers in the formerly Black Filmore corridor in San Francisco and hold significant ownership in the $100 million Metreon and $200 million Four Seasons Hotel & Condominiums under construction in San Francisco. Blacks culturally tend to conceal their wealth to maintain acceptance in the community, but that's changing.
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The Johnson's of Johnson Publishing Company (Ebony and Jet magazines) are worth over $400 million and never used the capitol markets for finance. And, Eileen Norton of Los Angeles knew how to pick a partner when she married white computer programmer, Peter Norton, who later discovered anti-virus software. They are now worth over $250 million.

Sally Gallegos of the Native American Development Corp. in Oakland says that 43% of all African Americans have Indian blood. Correspondingly, one half of the 600-member Mashantucker Pequot Indian tribe, who reclaimed their land in Connecticut, is Black. The tribe now owns the largest gambling casino in the world with a net worth of more than $300 million. "Black entrepreneurs and corporate executives have finally caught a ride on the engine that has been creating such astounding wealth in the country's white population" states Tony Chappelle of the Black MBA magazine