April 06, 2002

Who are America's richest Latinos and African-Americans? Black Fortune (http://www.blackfortunemag.com) and
Latino Money Magazine (http://www.latinomoney.com) published its richest 100 African Americans and 50 richest Latinos for June 2002. The top five richest are as follows:

The richest women list will be published in September of 2002. It took 10 months to gather and review information for these lists. For valuations of shareholders of public companies, we mainly relied on proxy statements, insider-trading documents, and where relevant we subtracted the tax rate from sales of shares.

The valuations for private company shareholders had many thorny valuation issues that concerned illiquidity of assets and confidential shareholder interest records. We relied on our own financial researchers and independent consultants with backgrounds in valuing private companies as well as athletes and entertainers.

The rich lists are apart of the marketing effort to enhance the images of successful women, Latinos, and Blacks and encourage these investment groups to learn more about personal finance. "We are interested in making sure that all
Americans are pushing ahead in their career and their nest egg," said Dora Thomas, co-founder of Black Fortune Magazine.

article_image: 

Leave a reply

Image CAPTCHA
Enter the characters shown in the image.