Dr. Farrah Gray became a self-made millionaire by the age of 14, after working for himself at age 6. Motivated to work toward wealth at a young age after seeing his mother struggling in dire financial circumstances,
Gray went on to create a number of successful companies while in his teens. Not content with material wealth alone, Gray has put that same caring compassion he felt for his mom to use in service for others. Now 25 years old, Gray is not only a businessman, but also a community leader who contributes to many philanthropic organizations while leading his own foundation. The Farrah Gray Foundation helps young people learn the same skills that helped Gray achieve success through career coaching and granting scholarships. Gray also enjoys sharing his practical advice as a sought-after public speaker and through popular business books such as
'Get Real, Get Rich' and
'Reallionaire.' Gray happily took time out of his busy schedule to talk to Black Voices about his ideas on wealth building, how to work best with your God-given talents and why Kwanzaa beats out Black History Month as the best time of year for celebrating African American identity.
Your books 'Get Real, Get Rich,' 'The Truth Shall Make You Rich' and 'Reallionaire' have been commercially successful and praised by the publishing industry. Do the books have a unifying theme of wealth building? Look at someone like
William Bud Post, who won the Pennsylvania lottery for $16 million and now lives off his social security. When you are not self-made and you don't understand what it takes to be a bona fide success, then you have a shallow success. That's pretty much the theme when I say "get real, get rich." Living up to your God-given potential. Finding your area of excellence.
I had a guy call me who was 75 years old. He cursed me out. He said, "Farrah, I've been working hard all my life. You say it's all about hard work. I want to know why do you have money and I'm broke? I've been working hard all my bleeping life!"
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The New Black Leadership
Barack Obama
Barack Obama is the first African American president of the United States. His charm and charisma have been well received around the world, making him an "icon" for change in America.
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BlackVoices.com
The New Black Leadership
Barack Obama
Barack Obama is the first African American president of the United States. His charm and charisma have been well received around the world, making him an "icon" for change in America.
The New Black Leadership
Oprah Winfrey
Oprah: the name is as powerful as her brand and image. The media mogul has made it her mission to inspire millions of people to be who they aspire to be through her television show, movies, magazine, and a radio show. She even reached out to help educate struggling kids in Africa by opening her girls-only boarding school, but even that wasn't enough for her. Next year, she'll launch her own network, leaving no doubt that Oprah is a leader in every sense of the word.
The New Black Leadership
Jesse Jackson
Arguably the most well-known black leader, Jesse Jackson has been on the front lines for black people since witnessing the assassination of Martin Luther King, Jr. However, the reputation of this former presidential candidate has been tarnished with time and by the discovery of his marital infidelity, which produced a love child. Then, there are his controversial comments: the one about Jews that killed his White House bid, and recent ones about presidential hopeful Barack Obama. Is the leader of the so-called "old guard" still relevant in the black community? Only time will tell.
The New Black Leadership
Condoleezza Rice
Rice, a former professor at Stanford University, is the first black woman to serve as Secretary of State in the United States. She's also just the second black American to hold the post. Prior to this, she served as George W. Bush's National Security Adviser. Her political acumen isn't the only thing that distinguishes her leadership. Rice is also a classical pianist who can speak five languages fluently. Still, many black commentators have concern about Rice's stances on the war, handling of Hurricane Katrina and statements on various issues. But nonetheless, Rice is truly a remarkable woman that deserves recognition as a leader and pioneer. But will her next job give any attention to the needs of the black community?
The New Black Leadership
Deval Patrick
On Nov. 7, 2006, Patrick was elected as the first African American governor of Massachusetts, and the third black governor in United States history. More recently, he signed a landmark bill that allows gay non-residents of Massachusetts to tie the knot in the state, circumventing bans in their own states.
The New Black Leadership
Dorothy Height
A civil rights activist, Dr. Dorothy Height has spent a lifetime fighting for equal rights for African Americans and women of all races. Chair of the National Council of Negro Women, she recently received the Congressional Medal of Honor, a testament to her reputation and leadership skills. At 96, she's still going strong as the chair of the Executive Committee of the Leadership Conference on Civil Rights. She is a tireless leader who will keep fighting injustice until her last breath.
The New Black Leadership
Corey Booker
The current mayor of Newark, N.J., has been a dynamic force in the resurrection of one of the Garden State's largest and most-beleaguered cities. Booker has taken a hard line on crime in the city. In 2008 Newark has had 37 murders so far; that's on track for a dramatic low for the city which had 105 murders in 2006. Additionally, he was at the forefront of a new arena being built downtown along with a city renovation. He took over for Sharpe James who was at the city's helm for 20 years, but was recently convicted of federal corruption charges.
The New Black Leadership
Cynthia McKinney
The former U.S. congresswoman from Georgia has become the new face of the Green Party within the last year, as the party's nominee for president. Unfortunately, her leadership in recent months has been overshadowed by Sen. Barack Obama's presidential run. In Congress, McKinney was recognized for pressuring lawmakers to release records relating to the killing of Dr. Martin Luther King Jr. and Tupac Shakur, as well as for her Hurricane Katrina activism.
The New Black Leadership
Benjamin Jealous
Who is Benjamin Jealous? If you don't know now, you soon will. At 35 he is the youngest ever national leader of the National Association for the Advancement of Colored People. His challenge? Bringing the civil rights organization back to the forefront and making it relevant to younger generations. Perhaps Jealous will give the organization an infusion of youthful energy.
The New Black Leadership
Faye Wattleton
As the youngest ever president of Planned Parenthood, Wattleton became a leader in family planning and reproductive health. She has also been at the front of the pro-choice movement. As if that wasn't enough, Wattleton is now taking her inspirational message to all women as the president of the Center for the Advancement of Women.
The New Black Leadership
I said, "You've never heard me say it's all about hard work. I think it's about hard work, yes, but it's also about finding your area of excellence, what God put you here to do." I said, "The richest place in the world is the cemetery. It's not where you find the gold and the diamonds. It's where you find people who have died and taken their natural God-given talents with them. The two most important things I think that happen in a person's life are when we are born and when we find out why we were born. What did God put you here to do?" And he interrupted me and said, "I know what God put me here to do! I'm a singer." So I said, "Okay, then sing." So he started to sing. I listened. I said, "Sir, you ain't a singer. That is not what God put you here to do."
So I encouraged him. I said, "Ask yourself three questions. Then the marketplace will open up to you, your gifts and your talents. First question: What comes easy to me, but harder to other people? Second question: What would I do for work for years and years and never have to get paid for it? Third question: How can I be of service, and how can I give back? I said once you've been able to wrap those things around what you do and your life purpose, the world and the market will open up for you, your gifts and your talents." The guy called me later and told me that he became a painter and was selling his paintings for almost $5,000. So that's the general theme. Who are you? And what are you here to do?
And then take that journey. Be the next you, because everybody else is taken. Much of what you hear from me and many individuals is common sense. It's just not common practice. We have to start putting certain elements into practice.
What is the best piece of personal finance advice you have for middle-class families struggling in the current economy? I think, at this time, looking at the conditions we are in, if you have a whole family unit, I think that someone hopefully needs to work if they can. And I think that someone needs to practically do the entrepreneurial thing. Have a balance in the house. I think that would be a perfect combination. That way, you know that certain bills are getting paid.
I tell people to find their area of excellence. Some people respond by saying, "I'm ready to quit my [day job] today!" And I say, "Well, no, don't quit today. You need to definitely find some kind of transition from your job." You can't just jump from one thing to another. One of the greats of our time has said it's like a Tarzan thing. He let go of one branch to go to another one, but he did not let go of the first one, until he had the other one.