(CNNMoney) — The wealth gap in the United States has grown wider in the wake of the Great Recession, with black and Hispanic American households faring much worse than white households, according to a study published Tuesday.
Household wealth is defined as the sum of a family’s assets minus the sum of its debts. The study defines assets as homes, cars, savings and financial investments, while debts include mortgages, auto loans and credit card debt, among other things.
Based on data from the Census Bureau, the study highlights how blacks and Hispanics have been disproportionately affected by the collapse of the housing market, the financial crisis and the recession that marked the period from 2005 to 2009.
According to the study, the inflation-adjusted median wealth among Hispanic households fell 66% from 2005 to 2009. Black households suffered a 53% drop in net worth over the same period. By contrast, whites saw a decline of 16% in household wealth.
In 2009, the typical black household had just $5,677 in wealth. Hispanic families had about $6,325 in wealth. The average white household had a net worth of $113,149.
This past weekend Grammy Award winning artists Amy Whinehouse died at the young age of 27. GWOP Magazine staff has compiled a list of the top celebrities/famous people who have passed before the age of 27. Checkout the full list after the jump.
*Note: Most entertainers died of drug overdoses. Just say NO 2 Drugs. A GWOP Public Service Announcement.
Grammy-winning singer Amy Winehouse has been found dead in her North London home, Sky News is reporting.
Amy Jade Winehouse was an English singer-songwriter, known for her powerful vocals and her eclectic mix of musical genres including R&B, soul, and jazz. She received extensive publicity over her substance abuse and mental health issues. Her Back to Black (2006) album and hit single, “Rehab” led to 6 Grammy nominations and 5 wins.
VIDEO OF THE YEAR:
1. Adele – “Rolling in the Deep”
2. Tyler, The Creator – “Yonkers”
3. Katy Perry – “Firework”
4. Beastie Boys – “Make Some Noise”
5. Bruno Mars – “Grenade”
BEST NEW ARTIST:
1. Foster the People – ” Pumped Up Kicks”
2. Wiz Khalifa – “Black and Yellow”
3. Tyler, The Creator – “Yonkers”
4. Big Sean featuring Chris Brown – “My Last”
5. Kreayshawn – “Gucci Gucci”
BEST HIP-HOP VIDEO:
1. Wayne featuring Cory Gunz – “6′7″
2. Kanye West featuring Rihanna and Kid Cudi – “All Of The Lights”
3. Chris Brown featuring Lil Wayne and Busta Rhymes – ” Look at Me Now”
4. Lupe Fiasco – “The Show Goes On”
5. Nicki Minaj – “Super Bass”
BEST MALE VIDEO:
1. Cee Lo Green – “F*** You”
2. Eminem featuring Rihanna – “Love The Way You Lie”
3. Bruno Mars – “Grenade”
4. Kanye West Featuring Rihanna and Kid Cudi – “All Of The Lights”
5. Justin Bieber – “U Smile”
BEST FEMALE VIDEO:
1. Adele – ” Rolling In The Deep”
2. Katy Perry – “Firework”
3. Beyonce – “Run The World (Girls)”
4. Nicki Minaj – “Super Bass”
5. Lady Gaga – “Born This Way”
BEST POP VIDEO:
1. Adele – “Rolling In The Deep”
2. Bruno Mars – “Grenade”
3. Britney Spears – “Till The World Ends”
4. Katy Perry – “Last Friday Night (T.G.I.F.)”
5. Pitbull featuring Ne-Yo, Nayer & Afrojack – “Give Me Everything”
BEST ROCK VIDEO:
1. The Black Keys – “Howlin For You”
2. Foo Fighters – “Walk”
3. Foster the People – “Pumped Up Kicks”
4. Mumford & Sons – “The Cave”
5. Cage The Elephant – “Shake Me Down”
BEST COLLABORATION:
1. Pitbull featuring NE‐YO, Nayer & Afrojack – “Give Me Everything”
2. Chris Brown featuring Lil Wayne and Busta Rhymes – “Look At Me Now”
3. Kanye West Featuring Rihanna and Kid Cudi – ” All Of The Lights”
4. Katy Perry Featuring Kanye West – “E.T.”
5. Nicki Minaj featuring Drake – ” Moment 4 Life”
BEST ART DIRECTION:
1. Adele – “Rolling In The Deep”
2. Katy Perry featuring Kanye West – ” E.T.”
3. Lady Gaga – “Judas”
4. Kanye West featuring Dwele – “Power”
5. Death Cab For Cutie – ” You Are A Tourist”
BEST CHOREOGRAPHY:
1. Beyonce – “Run The World (Girls)”
2. Britney Spears – “Till The World Ends”
3. Lady Gaga – “Judas”
4. Bruno Mars – “The Lazy Song”
5. LMFAO featuring Lauren Bennett & Goon- “Rock Party Rock Anthem”
BEST CINEMATOGRAPHY:
1. Adele – “Rolling In The Deep”
2. 30 Seconds To Mars – “Hurricane”
3. Eminem featuring Rihanna – ” Love The Way You Lie”
4. Katy Perry – “Teenage Dream”
5. Beyonce – “Run The World (Girls)”
BEST DIRECTION:
1. Adele – “Rolling In The Deep”
2. Katy Perry featuring Kanye West – “E.T.”
3. Eminem featuring Rihanna – “Love The Way You Lie”
4. 30 Seconds To Mars – “Hurricane”
5. Beastie Boys – ” Make Some Noise”
BEST EDITING:
1. Katy Perry featuring Kanye West – “E.T.”
2. 30 Seconds To Mars – “Hurricane”
3. Adele – ” Rolling In The Deep”
4. Manchester Orchestra – “Simple Math”
5. Kanye West Featuring Rihanna and Kid Cudi – “All Of The Lights”
BEST SPECIAL EFFECTS:
1. Katy Perry featuring Kanye West – “E.T.”
2. Linkin Park – “Waiting For The End”
3. Manchester Orchestra – “Simple Math”
4. Kanye West featuring Dwele – “Power”
5. Chromeo – ” Don’t Turn The Lights On”
Rap mogul Percy “Master P” Miller and his son Romeo will host the 3rd Annual Game of Life Basketball Camp this Friday (July 22nd), in Memphis, Tennessee.
Master P has teamed with Urban Born, a 501–C3 non-profit organization, that aims to keep young urban youth out of gangs, with a concentration on Black and Latino youth.
The free summer camp, which is for children aged 5-15, will focus on the importance of education, the use of “high-frequency words” and setting goals for the future.
Master P, along with Romeo, will share their life experiences with the children to teach them valuable life lessons.
“It is extremely important to me to give our young people the message that they can be whatever they want to be if they apply themselves. We will share some of our experiences in entertainment and sports, emphasizing the importance of education,” Master P told AllHipHop.com. “We want them to leave our camps knowing they can be leaders, and it is okay to say no to drugs and gangs. Although we’re in tough times, our kids’ education should not be affected. My goal is to bring awareness and invite other businesses and other entrepreneurs to join the movement.”
In addition to their time spent on the court, the children who take part in the camp will also attend classes and be given back to school supplies for the upcoming school year.
“The purpose of the camp is to allow children to have the opportunity to exercise their bodies and their minds,” Romeo Miller said. “It is important to us to share with the youth that they can do both. We totally support what our first lady Michelle Obama is doing with her efforts in fighting obesity. This is just our way of doing our part.”
The 3rd Annual Game of Life Basketball Camp will take place at Ridgeway High School on Friday (July 22nd).
Other sponsors of the camp include The ViSalus Company, College Boyys Clothing, No Limit Forever and Beast Made Apparel.
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