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Black Capitalists: A Blueprint for What Is Possible
A groundbreaking look at how Black visionaries—from Wall Street to Lagos and beyond—are reimagining capitalism to benefit the needs of Black people and, ultimately, everyone.
To many, the term “Black Capitalists” is oxymoronic. Black people were the labor force that built the infrastructure of American capitalism through the violent enforcement of legalized slavery, so they cannot, and should not, aspire to be the beneficiaries of it. But, Wall Street professional and Yale-educated anthropologist Dr. Rachel Laryea poses a provocative What if there was a way to thrive within capitalism without diminishing someone else’s life chances through exploitative practices? There is—and Black Capitalists are showing us how.
Told through Rachel’s own compelling narrative, growing up the child of a single mother who immigrated to the U.S. from Ghana, rising to the Ivy league and on Wall Street, with original on-the-ground reporting and rigorous historical analysis, Black Capitalists challenges readers to reconsider who gets to be the beneficiary of capitalism and reckons with the responsibility that comes with using the tools of our imperfect economic system to advance social good.
Dr. Laryea reveals in detail how race profoundly shapes the way we participate in capitalism—and how understanding these differences can guide us towards a more inclusive and equitable future. From newly minted undergraduates who find themselves working 20-hour-days to prove their worth on Wall Street to the Nigerian startup founder working to build a global credit score, innovators who are as ambitious as they are altruistic, spanning the streets of Accra to the boardrooms of Goldman Sachs, the stories and analysis in Black Capitalists demonstrate the resilience, creativity, and ingenuity of Black people who have long been excluded from the full benefits of the American economic system. At its core, Black Capitalists shows a more productive, and more inclusive, way forward.
To many, the term “Black Capitalists” is oxymoronic. Black people were the labor force that built the infrastructure of American capitalism through the violent enforcement of legalized slavery, so they cannot, and should not, aspire to be the beneficiaries of it. But, Wall Street professional and Yale-educated anthropologist Dr. Rachel Laryea poses a provocative What if there was a way to thrive within capitalism without diminishing someone else’s life chances through exploitative practices? There is—and Black Capitalists are showing us how.
Told through Rachel’s own compelling narrative, growing up the child of a single mother who immigrated to the U.S. from Ghana, rising to the Ivy league and on Wall Street, with original on-the-ground reporting and rigorous historical analysis, Black Capitalists challenges readers to reconsider who gets to be the beneficiary of capitalism and reckons with the responsibility that comes with using the tools of our imperfect economic system to advance social good.
Dr. Laryea reveals in detail how race profoundly shapes the way we participate in capitalism—and how understanding these differences can guide us towards a more inclusive and equitable future. From newly minted undergraduates who find themselves working 20-hour-days to prove their worth on Wall Street to the Nigerian startup founder working to build a global credit score, innovators who are as ambitious as they are altruistic, spanning the streets of Accra to the boardrooms of Goldman Sachs, the stories and analysis in Black Capitalists demonstrate the resilience, creativity, and ingenuity of Black people who have long been excluded from the full benefits of the American economic system. At its core, Black Capitalists shows a more productive, and more inclusive, way forward.
- GenresNonfictionBusiness
288 pages, Hardcover
Published June 10, 2025
12 people are currently reading
2490 people want to read
About the author
Rachel Laryea
1 book13 followersAfter cutting her teeth on Wall Street at Goldman Sachs, Dr. Rachel Laryea left to pursue a dual PhD in African American studies and sociocultural anthropology at Yale University. Her ethnographic research aims to understand nuanced forms of Black participation in capitalist economies. Rachel has held appointments at NYU Stern Business School and is currently a Wealth Management researcher at JPMorganChase. Prior to her current role, Rachel was a racial equity investment strategist, supporting the strategic implementation of the JPMorganChase $30 billion Racial Equity Commitment in service of closing the racial wealth gap for Black, Latino, and Hispanic communities. Rachel is also the founder and CEO of Kelewele, a plantain-inspired food startup based in Brooklyn, New York.
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Displaying 1 - 7 of 7 reviews
May 4, 2025
I won this book in a Goodreads giveaway. 3.5, rounded up.
As someone's whose politics lean socialist, my initial reaction to the title of this book was negative. But Rachel Laryea acknowledges, within the first few pages of the book, "Black people's distinct economic experience in America, which is shaped by structural racism, and the acts of solidarity required by everyone to build a new kind of capitalism aimed to benefit all" (xix).
Laryea starts with her own experience, growing up in the United States as the daughter of a single immigrant mother who eventually found herself at NYU, then Wall Street. She then details into the other Black professionals in the United States, before expanding into the "Pan-African Dream". Along the way the she uses personal anecdotes and cultural references (Rick Ross is hustlin' everyday) that readers will connect to their own working and life experiences.
Laryea concludes "A crucial step to create the right side of capitalism is to understand that we all have intrinsic value in who were are and how we live in community, not in what we can do or produce in the world" (228). A nice thought, but a hope that is antithetical to the capitalism we currently live under. Look up a definition of capitalism and you will almost invariably find the word "production" somewhere within. I found that Laryea fails to properly convince of a way her new imagined capitalism will "benefit us all". I do think this book is a good read, especially for young black entrepreneurs looking for motivation. It advocates and provides examples for how Black can work to become beneficiaries of a corrupt system. To act like capitalism is a possible system in which achieve true inclusion and equity, however, is flawed.
As someone's whose politics lean socialist, my initial reaction to the title of this book was negative. But Rachel Laryea acknowledges, within the first few pages of the book, "Black people's distinct economic experience in America, which is shaped by structural racism, and the acts of solidarity required by everyone to build a new kind of capitalism aimed to benefit all" (xix).
Laryea starts with her own experience, growing up in the United States as the daughter of a single immigrant mother who eventually found herself at NYU, then Wall Street. She then details into the other Black professionals in the United States, before expanding into the "Pan-African Dream". Along the way the she uses personal anecdotes and cultural references (Rick Ross is hustlin' everyday) that readers will connect to their own working and life experiences.
Laryea concludes "A crucial step to create the right side of capitalism is to understand that we all have intrinsic value in who were are and how we live in community, not in what we can do or produce in the world" (228). A nice thought, but a hope that is antithetical to the capitalism we currently live under. Look up a definition of capitalism and you will almost invariably find the word "production" somewhere within. I found that Laryea fails to properly convince of a way her new imagined capitalism will "benefit us all". I do think this book is a good read, especially for young black entrepreneurs looking for motivation. It advocates and provides examples for how Black can work to become beneficiaries of a corrupt system. To act like capitalism is a possible system in which achieve true inclusion and equity, however, is flawed.
March 10, 2025
I was fortunate to win an ARC of Black Capitalists from a Goodreads giveaway, and I found Dr. Rachel Laryea’s book to be both eye-opening and thought-provoking. Dr. Laryea tackles complex economic and historical topics with clarity, making her book accessible while still offering depth. This book is an important contribution to the conversation about the intersection of race, identity, and capitalism, and I believe it will resonate with anyone interested in understanding the nuanced relationship between Black communities and economic systems.
The book is divided into two sections. In Part One, Dr. Laryea explores the definition, history, and evolution of Black Capitalism. She begins by questioning whether Black Capitalism truly exists, offering insights into its development and its implications. Through sharing her personal journey—from growing up in poverty to eventually working on Wall Street—Dr. Laryea provides a deeply personal lens through which she views Black economic empowerment. She also interviews and highlights the stories of five Black men working on Wall Street, offering a range of perspectives on how they engage with Black Capitalism. This section delves into several key topics, including the language of Black Capitalism, the pursuit of luxury and "soft living," and even the symbolic connection between figures like O.J. Simpson and Jay-Z to the movement. Her ability to balance personal narrative with academic exploration is one of the book's strengths.
Part Two shifts focus to Pan-Africanism and the concept of Ghana's "Year of Return." Dr. Laryea shadows two Black entrepreneurs in Ghana, both of whom work in the financial services sector and aim to uplift their communities. This section broadens the scope of the book by examining how Black Capitalism manifests on the African continent, specifically in Ghana, where entrepreneurship and economic development are crucial to improving local lives. Dr. Laryea's exploration of Black Capitalism in Africa adds an essential global perspective to the book.
Black Capitalists is a vital read for those interested in the intersections of race, economics, and history. Dr. Laryea’s work challenges, informs, and inspires readers to rethink the traditional narratives surrounding capitalism and race. It is a powerful addition to the ongoing dialogue about Black economic empowerment, not just in the United States but around the world.
On a food related note, as a fellow vegan, I’m dying to try some plantain ice cream!!
The book is divided into two sections. In Part One, Dr. Laryea explores the definition, history, and evolution of Black Capitalism. She begins by questioning whether Black Capitalism truly exists, offering insights into its development and its implications. Through sharing her personal journey—from growing up in poverty to eventually working on Wall Street—Dr. Laryea provides a deeply personal lens through which she views Black economic empowerment. She also interviews and highlights the stories of five Black men working on Wall Street, offering a range of perspectives on how they engage with Black Capitalism. This section delves into several key topics, including the language of Black Capitalism, the pursuit of luxury and "soft living," and even the symbolic connection between figures like O.J. Simpson and Jay-Z to the movement. Her ability to balance personal narrative with academic exploration is one of the book's strengths.
Part Two shifts focus to Pan-Africanism and the concept of Ghana's "Year of Return." Dr. Laryea shadows two Black entrepreneurs in Ghana, both of whom work in the financial services sector and aim to uplift their communities. This section broadens the scope of the book by examining how Black Capitalism manifests on the African continent, specifically in Ghana, where entrepreneurship and economic development are crucial to improving local lives. Dr. Laryea's exploration of Black Capitalism in Africa adds an essential global perspective to the book.
Black Capitalists is a vital read for those interested in the intersections of race, economics, and history. Dr. Laryea’s work challenges, informs, and inspires readers to rethink the traditional narratives surrounding capitalism and race. It is a powerful addition to the ongoing dialogue about Black economic empowerment, not just in the United States but around the world.
On a food related note, as a fellow vegan, I’m dying to try some plantain ice cream!!
July 10, 2025
This book leaves a lot of questions unanswered and, in my opinion, serves to further divide the global Black community from realizing a sense of purpose and safety in a system that many fear is taking something from them. When I first heard about the book, I was excited because I thought it would be written from a revolutionary standpoint like previous books on the topic (Blueprint for Black Power, PowerNomics, etc.), yet it was more like an extended blog entry.
Throughout the book, I waited to be given some form of clear instruction on how this could benefit Black people around the world, but it continued to perpetuate an alien narrative in which Black people, whether in America or on the African continent, were aliens in their lived environment, simply wearing a mask in the communities they benefited from while individually enriching themselves in the process.
This is where the problem lies: if we continue to alienate ourselves, we are creating a greater divide between ourselves. Being born to immigrant parents, raised in America, and having spent time living and working in Nigeria, I understood firsthand how my personal history and reality is not the same as my (foundational) Black American "racemates." I believe all Black immigrants should be aware—not to say we should shrink our drive or abilities—but also be very aware that the benefits awarded to us, first-generation children of immigrants, do not arrive from the merit of our own individual work. Instead, they come from the work of Black Americans who have been in this country working to dismantle and shape the system in favor of equality and equity.
So to read a book that championed the extraction of resources after playing the role of a metaphorical Black face in predominantly white spaces was disheartening. It doesn't serve anyone to continue this type of behavior, of fantasizing the African continent as this burgeoning environment ripe with opportunity that can only be realized if its people find their way to the magical world of Europe and America where the pink-skinned people reside. Let's be real. For all of its glory and history, the issue with (Black) Africa as a whole is not its access to capital or credit, as mentioned in the book, it’s an identity issue. The identity issue follows Blackness wherever it resides on the planet. Identity followed the author upon arrival in America, and it continued to follow her through high school, college, GS, the Hamptons, and even back home in Ghana.
In closing, the book was a good read, and I’ll recommend it to people interested in capitalism and business. However, I ask the author to continue her pursuit of defining capitalism outside of the lens of materialism and to dive deeper into the thought space about Black engagement with capitalist structures, without the academic fear of alienating anyone.
Throughout the book, I waited to be given some form of clear instruction on how this could benefit Black people around the world, but it continued to perpetuate an alien narrative in which Black people, whether in America or on the African continent, were aliens in their lived environment, simply wearing a mask in the communities they benefited from while individually enriching themselves in the process.
This is where the problem lies: if we continue to alienate ourselves, we are creating a greater divide between ourselves. Being born to immigrant parents, raised in America, and having spent time living and working in Nigeria, I understood firsthand how my personal history and reality is not the same as my (foundational) Black American "racemates." I believe all Black immigrants should be aware—not to say we should shrink our drive or abilities—but also be very aware that the benefits awarded to us, first-generation children of immigrants, do not arrive from the merit of our own individual work. Instead, they come from the work of Black Americans who have been in this country working to dismantle and shape the system in favor of equality and equity.
So to read a book that championed the extraction of resources after playing the role of a metaphorical Black face in predominantly white spaces was disheartening. It doesn't serve anyone to continue this type of behavior, of fantasizing the African continent as this burgeoning environment ripe with opportunity that can only be realized if its people find their way to the magical world of Europe and America where the pink-skinned people reside. Let's be real. For all of its glory and history, the issue with (Black) Africa as a whole is not its access to capital or credit, as mentioned in the book, it’s an identity issue. The identity issue follows Blackness wherever it resides on the planet. Identity followed the author upon arrival in America, and it continued to follow her through high school, college, GS, the Hamptons, and even back home in Ghana.
In closing, the book was a good read, and I’ll recommend it to people interested in capitalism and business. However, I ask the author to continue her pursuit of defining capitalism outside of the lens of materialism and to dive deeper into the thought space about Black engagement with capitalist structures, without the academic fear of alienating anyone.
June 21, 2025
read it!
June 30, 2025
This one hit like a quiet revolution. Laryea doesn’t just ask what’s possible—she shows it, with receipts and roots. Every chapter felt like a mirror I didn’t know I needed.
July 19, 2025
A good book about black owned businesses. I learned a lot!
August 31, 2025
haven't read it yet
Displaying 1 - 7 of 7 reviews