Destruction of hundreds of businesses in 1921 massacre had reverberations on family wealth for generations. “My grandfather did everything he was supposed to do and, still, it wasn’t enough.”
“What Black Wall Street was able to do was to create an ecosystem that fed customers to these businesses, and they were successful,” said Tiffany McGhee, founder of institutional investment advisory firm Pivotal Advisors LLC. “And when you destroy those businesses...then that ends the wealth.”
“A freeway stands on top of my possible inheritance,” said Mr. Ross, a paraprofessional working with special-needs students. “Who is to say what Isaac Evitt’s Zulu Lounge would be today if it hadn’t been for a so-called riot.”Shane Brown for The Wall Street Journal “We did not have the benefit of building multigenerational wealth because his entire empire was destroyed,” Mr. Rogers said. “Many successful families continue to build on the dividends of prior generations’ business leadership.”
Jewel Stradford, Mr. Stradford’s granddaughter and Mr. Rogers’s mother, became a prominent lawyer. She was the first Black woman to graduate from the University of Chicago Law School, the first female deputy solicitor general of the U.S. and the first Black woman to argue a case before the Supreme Court, among other achievements.
He opened a combined shoe and record store with his brother on the main thoroughfare, Greenwood Avenue. Another brother operated a limousine-and-taxi service. A nearby park that the Nails family owned was home to the Nails Dance Pavilion and Recreation Rink.Property deeds helped Brenda Nails-Alford, the granddaughter of James Nails Sr., piece together details about the three family businesses.
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