• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
CommentaryWealth Gap

What the NBA All-Star Game Can Teach Us About America’s Racial Wealth Gap

By
John Rice
John Rice
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
By
John Rice
John Rice
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
February 19, 2017, 9:00 AM ET
Washington Wizards v Indiana Pacers
INDIANAPOLIS, IN - FEBRUARY 16: Otto Porter Jr. #22 of the Washington Wizards shoots the ball against the Indiana Pacers during the game on February 16, 2017 at Bankers Life Fieldhouse in Indianapolis, Indiana. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2017 NBAE (Photo by Ron Hoskins/NBAE via Getty Images)Ron Hoskins—NBAE/Getty Images
Add Fortune on Google for similar content.

A new study from Brandeis University and Demos paints a bleak picture of the persistent and widening wealth gap in America between whites and blacks. It finds that actions like earning a college degree, working full time, and living in a two-parent household do little to close the gap. The gap itself is perpetuated by a number of factors, including discrimination, institutional racism, and an inheritance gap in which whites are five times more likely to inherit money, giving them a significant jumpstart on wealth accumulation.

What the study does not uncover—and what philanthropists and policymakers often overlook—is that whites in this country inherit something even more valuable than money: They grow up never questioning whether they belong in the educational institutions, careers, and networks that are the breeding grounds for comfortable lives and wealth creation.

I call it the “genuine confidence that you belong.” This confidence comes organically when people are surrounded on their paths by people who look like them and have successfully navigated a similar path before and can provide well-informed guidance and advice.

In this scenario, individuals can devote 100% of their time and energy on following that guidance that helps them achieve their goals. They will not be distracted by doubts that they can’t be successful and, if for some reason they do fail, the worst-case scenario is going back to a safe, stable home to regroup.

Most people of color in this country do not inherit that same confidence because none of these conditions exist for them.

Rather than organically building the confidence that they belong, minorities must instead develop it on their own. This requires significant work over many years and provides a constant distraction. When you don’t have genuine confidence that you belong, you’re in survival mode rather than achievement mode.

You make different choices that can be at odds with achieving long-term success. You focus on not falling off the path, rather than on how far down the path you can possibly go. You take fewer calculated risks that can accelerate your career and lead to wealth creation. You force yourself to network, instead of just building friendships with people who have common interests and may be able to accelerate your career.

Because you haven’t seen many people like you break through, you get used to relying on yourself and you find it harder to take advice from others because you don’t fully trust that it will work for you.

This genuine confidence gap helps explain why gains in educational achievements for minorities haven’t translated to similar gains in income, wealth creation, or representation among leadership ranks of major organizations and institutions. And this gap won’t go away until we have a critical mass of people of color at all levels within the most influential institutions and networks.

How do we close this gap for people of color across our nation so that the next generation will not have to overcome these same obstacles? The answer is to apply the same well-proven principles that we use to develop peak performance and confidence among athletes. The sports approach includes four key ingredients that we can provide to people of color at every stage of the education and professional worlds:

  • Winning playbook: An individualized roadmap to meet the high-performance bar, as defined by the gatekeepers who decide whether you make it to the next level
  • Continuous coaching: Advice and accountability from those who have mastered the skills and navigational techniques, who hold you accountable to execute the playbook and who help you break bad habits
  • Supportive peer community: A network of high-performing peers pursuing a similar path
  • Visible role models: Real-life examples of people whom they can aspire to become. A recent MLT study showed that minority college students who know another minority who has been successful in a specific career path are more likely to believe they can succeed. The same was not true for those who know a non-minority who was successful.

 

Over just the last generation, we have democratized access to these four components in sports like basketball, such that talented, hard-working young players no longer get lost or question whether they belong, regardless of their socio-economic or ethnic backgrounds. This weekend’s NBA All-Star game is case in point.

If we equip enough people of color with these same ingredients that foster peak performance and give them the genuine confidence that they belong in the professional world, we will achieve critical mass in the places that breed wealth and long-term economic stability. Their children will then inherit that genuine confidence, like white children do today, and never know what it’s like to be held back by questioning whether or not they belong.

John Rice is founder and CEO of nonprofit Management Leadership for Tomorrow, a trustee at Yale University, and a former member of Obama’s Advisory Commission on Educational Excellence for African Americans.

About the Authors
By John Rice
See full bioRight Arrow Button Icon
By Bethany Cianciolo
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Commentary

jon
Commentaryphilanthropy
Shell Foundation CEO: climate tech works. Getting it to a billion people who need it is the hard part
By Jonathan BermanJune 26, 2026
22 hours ago
mj
CommentarySuccession
Morgan Stanley on life after selling your business: a roadmap for entrepreneurs
By Mark JansenJune 26, 2026
24 hours ago
nido
Commentary250 Years of Innovation
As an immigrant turned entrepreneur and college president, here is why I celebrate our nation as it turns 250
By Nido R. QubeinJune 25, 2026
2 days ago
Asia’s defense boom is rewiring the global arms supply chain
Commentaryarms, weapons, and defense
Asia’s defense boom is rewiring the global arms supply chain
By Chris OberoiJune 24, 2026
3 days ago
steve
Commentary250 Years of Innovation
Steve Case: America was built by entrepreneurs. Here’s how we keep that edge for the next 250 years
By Steve CaseJune 24, 2026
3 days ago
t
CommentaryWhite House
Trump mistakes the bully pulpit for bullying leadership — history’s villains were never heroes
By Jeffrey Sonnenfeld and Steven TianJune 24, 2026
3 days ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
2 days ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
3 days ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
1 day ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
Economy
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
2 days ago
Current price of oil as of June 26, 2026
Personal Finance
Current price of oil as of June 26, 2026
By Joseph HostetlerJune 26, 2026
22 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.