From Harlem to Harvard: How Dorien Nuñez Tackled the Racial Wealth Disparity

  Dorien Nuñez is a New York City native, amateur astronomer, and former professional Sax player. He has celebrated 50 years on Wall Street, is a first generation college grad from Harvard, and is a proud alum of the New York City public school system. He is a co-founder of a group of Harvard Black and Latinx alumni serving on corporate boards, and is a Senior Fellow at Intentional Endowments Network.   Dorien Nuñez's journey to understanding the racial wealth disparity began in his childhood, growing up in Brooklyn but attending an elite mostly White high school in the suburbs. He was inspired by the achievements of people like Benjamin Banneker, and had mentors like his schoolteachers, who helped him develop his talents. At a young age, he began to understand the importance of money and developed entrepreneurial skills. With the help of his mentors, he was accepted to prestigious boarding schools and eventually Harvard Business School. His experiences gave him the insight to understand the systemic issues in capitalism and banking, leading him to dedicate his career to helping others to invest and create wealth. With his commitment to mentorship, Dorien Nuñez is helping to close the racial wealth gap and empower people to create and achieve unlimited success. 1. Exploring the economic disparities between white and black people in the US. 2. Investigating the role of mentors and how they help individuals succeed. 3. Decoding the secrets to becoming a millionaire by investing wisely.     Chapter Summaries:   [00:03:21] The wealth disparity between black and white people. What does it mean when we talk about generational wealth?   [00:08:47] Dorien was born in Harlem and then moved to Brooklyn. Got a scholarship to go to an elite white boarding school, St. Paul's School in Concord, New Hampshire. His first mentors were his school teachers. Ended up going to Harvard Business School.   [00:14:55] When he was nine years old, he saw an article about the Massachusetts Institute of Technology. His mentors saw something in him and nurtured it. This leads him to try to find and mentor high school students and college students.   [00:17:32] As a child, he was entrepreneurial. "The hardest job to get on Wall Street is your first job." His advice to anybody out there is to learn about money. You can't get rich if you don't know about money.   [00:23:53] Credit scores are important and people can raise their credit scores. All kinds of free services will help you repair your credit. More and more entities are providing capital to people with lower credit scores. Things are getting easier and better, but you still have to take responsibility and get your budget in order.   [00:31:10] "Well, when I went away to boarding school, it was practically all mostly white boarding school. I was there to get a good education, to learn what I could, and to take it back home. That was my mission. At age 14, I knew what I was going to do."   [00:31:40] "The House of Representatives kept Adam Clayton Powell from taking his seat. So if they wanted to, they could keep George Santos in his seat. And in California, they recalled Governor Davis." "We'll send any listeners to this show, who calls in or sends Simma an email a free report on "Ten Things You Could Do To Save Money and Invest and Three Things You Can Teach Your Children."   [00:34:11] The term Redlining comes from when the banks or insurance company would draw a red line around the neighborhood. They would not loan money to people in Black neighborhoods or sell houses to Black people to move into white neighborhoods. Redlining is not as obvious as it has been in the past, but it still exists and it's an impediment. The only solution is to sue them when this happens. You got to make them pay economically.   [00:36:40] Dorien's experience with race and racism. How they were treated differently and that being black is not that easy.   [00:44:00] There are a lot of Black networks that people need to know about and be part of. If you're not part of those natural networks, then you have to find your own and build your own. That's part of wealth building   [00:49:30] What is in Dorien Nuñez's favorite playlist, films, movies, shows, and books?   Guest Bio Dorien Nuñez, Co-Founder and Director of Research, OMNIResearch Group. He is also the Co-founder of OMNI Wall St Advantage. Created the OMNI "WOKE" Investment Research based on his decades of expertise in ESG issues and emerging manager/minority business development programs. Has helped launch venture capital funds and loan programs for woman-owned and minority-owned businesses, raised funds for the Emerging Manager Trust which became FIS (now EXPONA), and continues to consult for new and emerging funds.   Host Bio Simma Lieberman, The Inclusionist helps leaders create inclusive cultures. She is a consultant, speaker and facilitator and the host of the podcast, "Everyday Conversations on Race for Everyday People." Contact [email protected] Go to www.simmalieberman.com and www.raceconvo.com for more information Simma is a member of and inspired by the global organization IAC (Inclusion Allies Coalition)   Previous Episodes Unraveling Racial History: Benjamin Jealous's Quest for Freedom Navigating Racism and Inclusion with Greg Jenkins, Nirupa Netram, and Elinor Stutz Black Fatigue with Mary Frances Winters   Related Episodes Does Culture Fit Hiring Promote Racism? Race, Reconciliation, and Transformation Changing American Companies from the Top Down