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SBD/Issue 112/Sports & Society
CNBC Documentary Examines Rise Of New Black Overclass
Published February 27, 2009
|James Discusses His Marketing
Endeavors In CNBC Documentary
NOT COMING FROM BUSINESS BACKGROUND: RNC Genter Capital Management President & CEO Dan Genter said many of these athletes and entertainers “are not coming from a background where they have a support system that’s very business aware, and because of that, they’re thrown into making a lot of decisions very, very quickly.” Hawkins noted Johnson, through his RLJ Companies has created a “platform for future black overclass moguls to rise. At the Bobcats, nearly all of the senior executives are African-American.” Johnson hopes the “dozens of black millionaires he’s created in his career will in turn create opportunities for other rising black powerbrokers to launch joint ventures” (“Newbos: The Rise of America’s New Black Overclass,” CNBC, 2/26).