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We have to learn to really identify

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our gems and our amazing people,
and we all need to start working together.

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And then,

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I think that once we start doing that

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and start really sharing knowledge,
looking at how we can move together

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and not really be competition
with each other.

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If you believe
we can change the narrative,

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if you believe
we can change our communities,

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if you believe we can change the outcomes,
then we can change the world.

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I'm Rob Richardson,
welcome to disruption. Now.

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All right.

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Welcome to disruption now I'm your host,
a moderator, Rob Richardson.

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So with me is Lamar Wright
is the, founder of, Black Wealth Events

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and is all about empowering,

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you know, black wealth and making
sure that we are in the new wave

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of building in technology and also
that we're building generational wealth.

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And that's what he's all about in Lamar.

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It's pleasure to have you on the
on the broadcast, brother.

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Thank you for having me.

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Excited to be able to have a conversation
with you and the audience

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and seeing how we can continue
to move things forward.

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All right.

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So tell me so black wealth events
like what inspired you

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to create this, this platform
and what is the purpose behind it?

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I would say, black Wealth event is

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really to aggregate

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the idea of economic competitiveness
within black America.

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We use Martin Luther King's

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economic strategy as our cornerstone.

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And then we do overlays of the principles

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of circular economics.

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All of this
kind of come about from my pivot

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into the client relations
aspect of what my company does.

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We are a lifestyle and branding firm
that specializes

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in image
consulting, creative direction and,

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client relations.

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So over the pandemic,
we had to kind of pivot into the client

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relations aspect of what we did.

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And I was pulled into the family
office space.

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And for our audience
that probably doesn't know family office.

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A family office is basically a private

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organization
set up to manage the wealth, investments

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and personal, affairs
of a wealthy family and basically,

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I always say they're so rich,
they're their own bank, you know, trying,

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in that world,

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I saw that they don't not
look at each other as competitive.

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Their colleagues, they share rings,
they share deals, they commune together.

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And I'm like, wow, you know,
this is something that

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is a little different approach to a
collaborative experience for my community.

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And so that is how Black Wealth Office
was created.

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Now, it's fascinating
because it's something that I've,

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both struggle
with and work towards. Right.

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Because I've,

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worked to align and still do,

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with black folks as much as possible.

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Right.

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How are you breaking this down?

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Because there are barriers.

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We know institutionally that,
you know, we are we put in our brain

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that's been passed on like this,
nobody else that's now

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we kind of carry this, I think,

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reservation or

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seeing each other as competition
rather than collaborators.

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How are you really addressing

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that through your events
or through your platform?

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So we focus on information,

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creating infrastructure and given access.

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And what I do know about our community
is that

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if you want to be a,

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a voice, you have to demonstrate.

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So what we've been doing through,

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our flagship,
event series called The Wealth we get,

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we have, had,

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socials and conversations

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and discussions about certain topics,
but after everything we have had

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call to actions and demonstrated
what collective mindset, collective unison

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and partnerships really can,

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we really can create.

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So that's how I'm going at it
as a demonstration of how it can be done.

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And I do it on a high level.

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Right? No, it makes sense.

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I mean, you you you learn, you teach,
and you connect by actually doing.

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Right. So you've worked.

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So I know you had the wealth weekend.

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You had one this year.

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So what was the biggest takeaways and
what's the what's the hope for the future.

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Because I'm assuming
we're going to do 1 in 2025.

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Well the wealth weekend is three part
right.

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So this year we did two parts.

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We did the Wealth Week and Kentucky Derby.

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And we did
well for weekend Juneteenth, NYC.

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So we did two two series this year
and 2025.

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They will be doing the whole three part
series.

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I would say the take away this year,
which is fantastic.

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We have created a public

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private partnership with to HBCUs.

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So the first HBCU,
which is a private is, Simmons College

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and the next is Kentucky State

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University, which is a public university.

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And they're doing a joint venture
to create a curriculum

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of, circular economics with our partner,
the Circular Economy Alliance of Europe.

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So that's one thing
that was you talked about

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what is circular economics
for people like, what is that?

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Yeah.

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Sometimes I have to break it down.

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Yes, I have to spend. Excuse me.

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I would say circular.

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How would I put it?

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Circular economics
for the black community.

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I would say it's keeping

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wealth within the community.

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So whereas moneys earned by individuals,

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it's reinvested
in black owned businesses and services.

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And we're creating
a loop of economic empowerment.

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So I'm looking at this is,

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how do we build resilient

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and sustainable communities
and what we're doing,

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that is what's modernizing Martin

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Luther King's economic strategy for today.

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Now, that's, no,
I think one of my favorite quotes

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by a doctor, Martin Luther King,
which is never really talked about,

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is when he discusses love and power.

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He said he said power
without love is reckless and abusive,

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but love without power is sentimental
and anemic.

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Right? We need health.

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And, yeah, I think it was mortgaged
to bind us at this.

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Like, you know, black folks are obsessed
with profit.

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Like, everything is, is a nonprofit
and everything is about that versus

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how do you actually make money
off of this, right.

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So like, we like reframing the mindset

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and not seeing it as a dirty thing
or an evil thing.

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It is a necessary thing for you

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to be able to even have the, social impact
you want to have.

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So I think some of it is like a reframing
of our almost psychology.

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I say like, right, right is right.

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So how do you talk about this with
because I found this and you know, of

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when my own family and other folks
as you, as you, as you,

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as you start to generate
some wealth, you know, people are,

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their goal is

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just to hold on to that
and not necessarily invest it

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because they think they're going
to lose everything that they've gained

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and that fear, as you know,
obviously prevents opportunity for growth.

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How do you get past that first mindset,
that one like in terms of that, like,

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do you have any type of specific advice
when it comes to that?

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Well, I always consider it a lack mindset.

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Right.

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And I think due

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to the fact that I'm, spiritual,

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I kind of pull from those, universal

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principles, understanding that,

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we're not here for lack.

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We're here to live in abundance. Right.

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And you have to have some type

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of strategy and and engagement and learn,

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like continuously learning to be able
to take the money that you save,

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put it somewhere
so that it grows and create some type of,

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some, some type of,

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investment for yourself.

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Like your money needs to work. Well.

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So the I tell people all the time
like this is what they don't understand

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is that you save money and you just park
it, you're actually losing money.

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You're losing money in all types of ways.

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Like you're losing money
for inflation, minimum 2%, you know.

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But lately it's been six, seven, 8%.

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But like minimum 2 or 3% a year that's
you're so you're you're losing the value.

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That dollar becomes $0.98. Right.

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And then if you're not thinking ahead on

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this is when you start
making any type of money,

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how are you making sure
that you are keeping your

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in a legal way, your tax burden low
because then you're also losing money.

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This is what people,
what I've learned, very wealthy people.

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And I hope to be there one day.

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They have a strategy to get that way.

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It's a strategy. It's not like,

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people think that there's luck involved.

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It's probably some luck involved
if you get to $1 billion.

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But in terms of like in terms
of getting to that level over time,

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but to get to the levels of,
of most people's goal to get to millions,

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that's a strategy usually
that people don't really think about.

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And it does say collaboration
in the black community.

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So if you had to say one takeaway,

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then I want to talk about
I one most important thing,

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one should do to position themselves
for general wealth.

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What's the one thing they should do
that's the most important?

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If you had to say,

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I would say maybe the

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learn

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to teach yourself,
because it is an educational process.

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We have to learn the different avenues.

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There's not one way to create wealth.

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And depending on your own personal need,

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is the route
that you're going to need to take.

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Even when you speak to asset management

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firms and and things of that nature,
they have to sit down with you and create

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a plan specifically for you and your goals
and what

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you have already. So,

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the more that you learn, I

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think you need to learn about insurance,
like life insurance and,

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dividend and diversification

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of a portfolio and budget go budget.

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The these are all terms that I think

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that we try to over overlook,
but we need to take the time to really,

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educate ourselves on them.

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Yeah, I agree,

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I just felt like the most important thing
I think that I've done in that area

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is just just create the habit
of actually saying

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decide and investing in yourself
and saving first and putting stuff away,

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like not thinking about it.

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That has been the most important thing.

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That's the most important way to start.

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And then you see it and you see it grow.

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It changes your mindset.

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You're like, yeah, okay.

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Yeah, I just had you look at it
five years.

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You're like,
oh yeah, I said this five years earlier.

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But anyway, that's is what it is.

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Technology
obviously is, is is playing a huge role

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within wealth creation and opportunity.

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Like how do you see I reshaping
the opportunities for black wealth

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in the black community and, and how people
will be thinking about that?

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Well, I'm

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glad that you mentioned that, during our,

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Wealth Weekend Juneteenth NYC event, we,

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strategic speak about,

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tech, blacks and tech from
the aspect of us not being involved

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into it, the the avenues
and which is not mentioned or mainstream.

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I think that tech has an opportunity

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to really create new millionaires,
new billionaires.

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I also think it's a way for our community

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to, gain some ground in the playing field.

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But it also has the ability
to be weaponized against us.

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And we need to create our own tech
companies.

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We need to understand that
equity is ownership.

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So we need to start
developing these things ourselves.

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And just for a quick
example is if you're looking at

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how tech is being used against that,

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facial

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recognition,
it doesn't have enough of us, a part of it

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so that it cannot diversify
and distinguish our, our features.

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And there's not really many black people
that in the engineering

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aspect of it, they're saying, hey,
you know, this isn't right.

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That isn't here to the left.

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And then you're getting, marked
as someone else,

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which is which, by the way, it's not, it's
not it's not a theoretical thing.

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This is already happened.

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Right.

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There's there's a case in Louisiana
where that happened, where it identified,

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a black man wrongly.

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And he was in jail,
a misidentified black woman.

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These things are not, like, theoretical.

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They are actually happening. And,

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you know, and this is why I tell people,
if you want to really be involved in

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social impact, in civil rights,

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the best, the best place to do
that is with the technology now,

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and to become a builder

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and to become intentional
and to challenge the status quo.

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That way.

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I'm not against protesting.

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I'm not anti that.

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I just think there is a limit to that.

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I mean, it's, you know,
I'm not going to go to political,

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but if you look and see what happened
this last election, that was, that was now

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that was algorithms versus old school.

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I just tell people, would you want to?

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We are all interconnected.

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So when you want to, tackle

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a project or problem,
you have to take a holistic approach.

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So there's not
one way to do something. Yep.

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So it's going to take multiple avenues.

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You know,
I don't think that what we're doing

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with black wealth advance in the wealth of
weekend is going to solve every problem.

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No, but I'm hoping that what it does is

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bring leaders together
and create some type of,

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pathway for us to move.

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One of the things that really shook me to
my core was when you look at what,

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black America contributes to the, GDP,

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we are basically hope, close to 1%.

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So we have 3.2

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million businesses
or some something like that,

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and we're only contributing basically

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a point to the national GDP.

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The best,

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ethnic group, I would say
that's out there, which is the Asian,

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as far as that, they're only doing 4%,

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but 1% is what we were doing
when we're out of slavery.

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So there is something missing in
and what I am hoping to do

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is be the intermediary between, act

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well and focus and purpose.

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Yeah. All right.

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What's the best case?

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I say, what's the worst case scenario
for black wealth inequality?

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Without some intervention,
what's the worst case?

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And what's the best case?
And how do we make the best case happen?

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So the best case of the worst case? Both.

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So what's the worst case? Right.

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The worst case is let's continue
with the best case.

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And how do we try to envision
that, happening.

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Well, to me
the worst case scenario is us doing what

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we've been doing because, you see,
it hasn't moved the needle.

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I would say the

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best case scenario is that

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we really understand
that we have all of these affinity

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groups, and and black America has,

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We've been there, we've done things.

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We've been part of, you know,
we've been part of all aspects of business

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and health care and industry and finance.

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We have to learn to really identify
our gems and our amazing people.

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And we all need to start working together.

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And then,

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I think that once we start doing that

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and start really sharing knowledge,
looking at how we can move together

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and not really be competition
with each other,

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I think that we'll start
seeing a lot more movement

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and then really like loving on ourselves,
like our businesses,

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our talent, our thought process.

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Yeah, I do understand that.

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That's the American export.

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Our culture is Americans export.

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So we need to understand that
we are a value,

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but we need to understand that
the value is together and to monetize.

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And we need to really support each other

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and protect each other
because they'll come in and say,

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I'll give you this amount of money
so you can give me what y'all doing.

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And then they do it.

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And then now we don't have any ownership.

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Look at we can just look at hip hop.

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We can, you know, maybe get a hip hop.

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And then if you take how good algorithms
are getting and, you know,

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the biggest debate is who owns the data.

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That's a whole
nother question that we can get into.

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But we, you know, needs it.

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That's exciting now. And things

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that I tell you, it's,
I mean, algorithms pull from information

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and, you know, it's like you
we have to be, like,

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involved in this process
to in order in order

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to make sure that we might have ties
and we have to move quickly.

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So what are some final takeaways?

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I guess, like, that you would want
to give people like what?

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When it comes to black wealth events,
how can people get involved?

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What do they need to do in order to,
in order to learn more?

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Well,

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I would say a black wealth event.

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There's black wealth events.com.

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It actually, is a place where you can
go, you can register.

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We'll be sending out information.

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We'll be creating, seminars.

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We'll be engaging different
podcasts, like your own,

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newsletters and things
where we'll be sending out information

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and we'll be bringing on experts
in their field.

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We'll be having white papers done for
cities and economic development groups.

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And we'll be actually creating
opportunities for black

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American businesses
and founders to actually source capital.

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So now we are looking
just to be a resource for the community,

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a safe place
for allies and supporters to come.

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Because the this black America.

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But we do understand that we have others
that actually can support

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and be allies of us.

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That's where collaboration and partnership
comes.

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So black wealth events.com and,

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black wealth events on Instagram
and Facebook and LinkedIn.

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Yeah. Lamar it's a it's a pleasure.

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Let us know how we can help you.

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00:19:31,500 --> 00:19:34,233
We appreciate you being a disruptor
and coming on the show.

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00:19:34,233 --> 00:19:36,500
Thank you Rob I appreciate you having me.

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00:19:36,500 --> 00:19:39,266
And let's continue to define absolutely.