I write a lot about wealth. Over the years, I have acquired a deeper understanding of the topic and the implications it has not only for Latinos but for the country overall. I have come to believe that the ethnic wealth gap is the single biggest threat to American prosperity. I don’t think that is an overstatement. The wealth gap and its causes are no secret. It is widely understood that redlining, income inequality, limited educational opportunities, and segregation have caused generational disparities in the distribution of wealth in this country for centuries. For obvious reasons we need to ensure that we rid the nation of discrimination at every level; closing the wealth gap is not only the fair thing to do, but because of demographics, I believe it is a requirement if the United States is going to maintain its leadership in the global economy.
Let me explain. Economic growth is a factor of labor force growth and productivity. The more people we have in our workforce producing and buying things, the larger our economy gets. Over the next two decades and beyond, the overwhelming majority of new entrants in our workforce will be Latinos and other people of color. Latinos are the youngest demographic in the country, almost 15 years younger than the Anglo population on average. They will be the ones buying homes, cars, and just about everything else. The more income and wealth they have, the more they will spend in our economy. It’s pretty simple.
Exactly how we close the ethnic wealth gap is less clear. Education, healthcare, homeownership, and improving diversity in America’s largest corporations are critical components, but I believe the biggest opportunities are tied to business ownership and entrepreneurship. Entrepreneurship is THE foundation of capitalism and the most efficient wealth builder in our system – especially for Latinos. It shouldn’t be a surprise to anyone that Latino-led companies employ more Latinos in key roles. What’s more, the more successful those companies are, the more wealth they create for their employees and investors. While Latinos have not historically been major investors in start-ups, that is starting to change. What is not widely understood, is when Latino-led companies reach scale, they sometimes disrupt major corporations, who respond by investing more capital in Latino markets themselves. I wrote about this a few weeks ago in a blog about Latino representation in the entertainment industry. I said in that blog that I thought Tyler Perry and Oprah Winfrey did more to promote Black Americans in the entertainment industry than 50 years of advocacy because they proved that there was money to be made by investing in media products that included and appealed to Black consumers. This could be applied to several industries. I’ve written about how companies like New American Funding, a privately held mortgage company with Latino ownership, go from a niche player to a major force in the industry. By focusing on Hispanic homebuyers, they took market share from some of the larger and more established companies, forcing those companies to follow suit or continue to lose share.
Facts and data are critical, and advocacy is important, but in a country that was founded on free-market principles, nothing is more effective than literally showing people where the money is. In 2022, I will be laser-focused on finding the best ways to catalyze Latino-led businesses and start-ups. When we succeed, the country will be better for it.
There is no shortage of data showing the impact Latinos are having on the U.S. economy, from GDP and entrepreneurship to workforce participation and homeownership. So why hasn’t that growth translated into the kind of economic and political power our numbers suggest it should? In this episode, I focus on two things we can actually control: building wealth and owning our narrative. Cultural influence matters, but ownership is what turns influence into lasting power. And if we want the next generation to inherit more than momentum, we need a strategy for converting our work ethic, growth, and economic contributions into the institutions and assets that shape this country.
The World Cup reminded the world just how magnetic Hispanic and Latino culture can be. In this episode, I talk about why that popularity is more than a cultural victory—it is an economic opportunity hiding in plain sight. From music, food, sports, and fashion to the global appeal of our biggest stars, our culture already has the power to shape markets and influence how people see us. The question now is whether our business and political leaders are ready to turn that momentum into capital, representation, and lasting power. This is a moment we cannot afford to waste.
The World Cup gave Hispanics and Latinos an extraordinary global stage, but the opportunity goes far beyond sports. In this episode, I look at how cultural influence can shape perception, attract investment, and ultimately create economic power. South Korea understood this decades ago and built a global strategy around making its culture impossible to ignore. Now, the world has seen the energy, pride, and creativity of our community on its biggest stage. The question is whether we recognize the value of that moment and build something lasting from it.