HotChat Podcast featuring Cathy Hughes- the Second-Richest Black woman in the United States
About the Episode:
Organizations such as the CRMSDC suffered blows in their advocacy for equality and inclusion, especially for minority businesses and other groups. They were swayed between different government organizations, but in the past years, that has been a story of the past. CRMSDC now celebrates 50 years of advocacy and the great milestones it has achieved. That has not come without pain, struggles, and partnerships from individuals who have dedicated their lives to this cause. Cathy Hughes, a business mogul and the second richest black woman in the United States, joins us in this episode to share her journey and special contributions in the entertainment space through her Urban One company.
Cathy Hughes is a dynamic media pioneer who demonstrates the power of one – one woman, one vision, one company – Urban One, formerly known as Radio One. As Founder and Chairperson of Urban One, Inc., the largest African-American-owned and operated broadcast company in the nation, Hughes’ unprecedented career has spawned a multi-media conglomerate that generates original content across the spectrums of radio, television, and digital media. Her humble beginnings in Omaha, Nebraska, were not a deterrent to her success but rather part of the catalyst that fueled her ambition to empower African Americans with information and to tell stories from their perspective.
One of the studies concluded that it would take an average of 333 years to close the wealth gap between minority and majority groups in the United States. There are a number of ways to narrow this gap, such as establishing more organizations like the Minority Supply and Development Council. In unity, these organizations can bring their strength and advocate for change and inclusion. Tune in and hear more as we talk business, history, and the future.
Here’s What You’ll Get In This Episode
[00:01] Episode intro and a quick bio of today’s guest; Cathy Hughes
[03:28] How CRMSDC struggled in different government administrations
[09:13] Cathy’s predictions of the future given the present conditions
[17:52] What it would take to condense the wealth gap between majority & minority groups
[23:12] Why Bob Johnson’s greatest regret was not partnering with Radio One
[34:30] What Cathy’s journey has been as a lone African-American entrepreneur
[41:00] Golden key nuggets from the guest
[46:17] Ending the show and call to action
- The easiest way to bring parity to the wealth gap is to recognize, understand and partner with each other.
- The more we help somebody else, the more we grow and prosper.
- Property and education are time-tested tickets to a better life for an average African-American person.
- Sometimes you have to start afresh all over again. However, that is not a problem as long as you understand and learn where you went wrong in the first round.
- Do not sell past the close.
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