Black Leadership Must Create Succession Plans
I remember being young in 80s Chicago and being aware of my Blackness. That Blackness was a beacon of pride, because it seemed every notable Black person I saw revered was tied to Chicago. Johnson Publishing, Johnson Products, Luster Products, Soft Sheen, Soul Train, Rainbow Push, The Nation of Islam, Harold Washington, Jesse Jackson, Louis Farrakhan, Oprah Winfrey, Michael Jordan, Muhammad Ali, Walter Payton, Gwendolyn Brooks… These were some names and businesses that were prominent then. I mean, what isn’t to be proud of?
As I got older, I began to notice that the Black people in a position in Chicago were fixtures. They somehow stayed in positions of power with little signs of a succession plan. It used to bother me greatly, because it truly felt like these people had no interest in creating one. Also, they were the first to take advantage of others wanting to be close to their power. How do you build a community where its leaders seem to be more focused on personal gain? From Black politicians, to Black business owners, to Black community activists, it seemed they mostly lived by the unofficial Chicago motto “Ubi Est Mea” (Where’s Mine).
Then I came to an understanding. It all came down to generational wealth, disparities in opportunities, perceived position in society, and the feeling of self worth. There is no money in solutions to problems that plague the community, only in the attempt at the solution. So many come to a crossroads where they have to find ways to make an attempt without the financial resources available to the well funded and connected. Being well funded and connected is elusive to most Black people.
For most it takes years of being active, present, and seen. Years. So how does one take care of their family, and create generational wealth, when you are devoting years to entice funders? This is a problem Black leaders in politics, business, and community activism face.
Generational wealth is an abstract in Chicago’s Black community, considering that 33% of Black families as a household have a 0% net worth. As compared to Latinos at 27%, Whites at 15%, and Asians at 14%. This is because of the low homeownership, no life insurance, and high unemployment. So when most receive funding changing this becomes a priority, because of all the sacrifices made to get to this point. The funding opportunities aren’t as plentiful, so these leaders chase them and ultimately become driven by the funder’s outcome reporting.
These leaders are given reverence in the community because of their sacrifices to be active, present, and seen. This same respect escapes them when they leave the community they serve. It becomes addictive and feeds egos, and most want to keep that respect and relevance until they die.
As a result, many of them become trapped in a cycle that only recognizes and gives them respect when they are relevant. They started being noticed too late to accumulate true wealth, so they tend to make an effort to remain relevant as long as possible. Mostly, because once they are not in the limelight, everything slows to a trickle because there truly isn’t a retirement plan for them.
They fight all these years for us and find themselves trapped with no way to take care of their families. The sad reality is that some leaders that don’t receive any recognition die penniless, with families that have animosity because they gave too much to the world, and not enough to the family.
With this observation, we need to understand their positions and continue to take care of them. Help them create legacies, so they can retire without worry. Many of our leaders leave the earth without passing the knowledge they acquired, or training the next generation. If we take care of them, we can create a succession plan that helps generate generational wealth. With this wealth, we can create our own opportunities that can ultimately solve the problems of our communities.