Wealth

By Rafa Wright

WEALTH introduces the concept of wealth building to the culture of hip hop like only someone from the culture can. Rafa Wright uses brevity, experience, and the input of so many others to craft this concise book on what wealth really is, what wealth is not, and the practical way to pursue wealth.

• Language: English
• Publisher: Rafa Wright
• Release date: Jun 9, 2018
• ISBN: 9781387824427

Rafa Wright

Raphael Wright is a serial entrepreneur, investor, and author from Detroit. Wright is the founder of Urban Plug L3C which is a social investment company designed to invest in Detroit's inner city. Urban Plug's first major venture is Us Food Market, soon to be Detroit's only black-owned grocery stores. Raphael is also the founder of Plug'd Media which is a hip hop media collective that focuses on books, music, film, art, apparel, and interactive media. In 2015, Plug'd Media is the creator of HustleMania Shirts, a hip hop/pro wrestling inspired streetwear line. In 2016, Plug'd Media published the business guide "How 2 Hustle: Entrepreneurial Lessons, Principles, and Strategies from Street Hustlers in AmeriKKKa's Urban Underground Economy. Also in 2016, Plug'd Media became a minority stakeholder in Optis Creative, an interactive media firm that focuses on Augmented Reality projects. In November 2017, Raphael Wright authored and published his second book "WEALTH" which is a wealth guide for the hip hop culture.

Book preview

Section 1.

What is Wealth?

Chapter 1: What is Wealth?

Wealth is financial freedom or the ability to live comfortably for the entirety of your life without financial needs. Wealth is not having lots of money or living lavish because you can live low-key and still be wealthy. Wealthy people are usually rich but rich people aren't necessarily wealthy because a rich person who owes more than he owns isn’t wealthy.

Example: An athlete makes $2 million a year after taxes. However, this athlete owes $5 million a year in short term and long-term liabilities. Therefore, instead of being $2 million rich, this athlete is $3 million poor ($5 million in debt - $2 million in cash)

In all, wealth is a financial system that enables money to work for the person instead of the person working for money. If this system this paying the person a higher income than his expenses, then this person is