Bob Johnson Urges National Dialogue Based on Recognition of Race

In an address to Members of Congress and participants attending a
Congressional Black Caucus meeting, Robert L. Johnson, founder and chairman of The RLJ Companies, called for a national discussion about the growing wealth gap which he referred to as a “wealth gap Tsunami threatening African American families”. He cited the recent Institute on Assets and Social Policy at Brandeis University study, among other studies, which conclude “the wealth gap between white and African American families has more than quadrupled over the course of a generation; the racial wealth gap increased by $75,000, from $20,000 to $95,000; and, at least 25 percent of African Americans have no assets.” According to the U.S. Census data, “white household median net worth is 10 times that of Black
households. The median net worth for African Americans was $11,800 compared to $118,000 for whites.”