BET founder Robert Johnson told CNBC on Tuesday that he believes Black History Month should put more focus on what is needed to offer equal economic opportunities in the years to come.
“I am suggesting that we start calling February … ‘Black history, black future’,” Johnson said in an interview in the “Squawk Box”. “Let black Americans talk about what they want to achieve in the future for their country and their families. And let white Americans talk about what they are prepared to do and what they are willing to do or what they are doing, to make the brighter future for black Americans. “
All presidents of the United States since Gerald Ford in 1976 have officially recognized February as Black History Month. However, according to the Association for the Study of African American Life and History, the origins of Black History Month date back to 1915. It was when ASALH was founded by historian Carter G. Woodson, who nine years later designated a week February as explicitly focused on the study of black history. In 1976, after continued growing interest, ASALH worked to expand it for a whole month with a focus on Black History, according to its website. Woodson, son of ex-slaves, became known as the Father of Black History.
Johnson said the need to study and recognize black history remains critically important for all Americans. But Johnson said he believes that greater emphasis should be placed on “black futures”.
“Don’t deny the story, but it’s better to know where you’re going than where you’ve been,” said Johnson, who founded Black Entertainment Television in 1980. He became America’s first black billionaire in 2001, when the company’s holding BET was sold to Viacom.
“We tell the story over and over of black conquests against all odds,” added Johnson. ” Now we need to start talking about what blacks could contribute to this country if they had a future as bright economically as the future is for white Americans. “
Johnson had previously asked the United States government to issue $ 14 trillion in compensation for slavery as a way to help bridge the gap in racial wealth in the country. He made the comments on CNBC in June, when protests against racial inequality and police brutality swept the country after the assassination of George Floyd in Minneapolis.
“The transfer of wealth is what is needed,” Johnson said at the time, arguing why repairs are needed. “Think about it. Like more than 200 years of slavery, work taken without pay is a transfer of wealth. Denial of access to education, which is the main driver of the accumulation of income and wealth, is a transfer of wealth.”
President Joe Biden has repeatedly emphasized that his government wants to reduce racial inequality. According to a Federal Reserve study released in September, white families had an average wealth of $ 188,200, while it was $ 24,100 for black families and $ 36,100 for Hispanic families.
Johnson suggested on Tuesday that in order to advance his goal, Biden should prioritize programs that direct capital to help foster black entrepreneurship.
“Black companies tend to hire black people as a whole, so you create more black companies, the recovery goes to more black jobs,” said Johnson. “More black jobs means more blacks paying for their own homes, blacks … saving for retirement, blacks investing. In the end result, we take a giant step towards narrowing the huge wealth gap.”
See the full interview on Tuesday with Robert Johnson below: