About this issue.

In 1976, Canadian Michael Lee-Chin was a bar bouncer earning $1.60 an hour (in U.S. currency). Today, he's a billionaire. That's right--billionaire. In reading this issues cover story, you will find that he achieved that status, in large part, by following basic wealth-building principles.

It's no secret that the mission of BLACK ENTERPRISE is making sure that you--our reader--gain the tools to build lasting wealth. It has been our covenant for the past 32 years, one that we renewed more than two years ago with the development of the Black Wealth Initiative, our financial education and empowerment program. Its cornerstone has been the Declaration of Financial Empowerment, commonly referred to as DOFE, which illustrates 10 principles--from saving 10% to 15% of your after-tax income to accumulating wealth to pass on to the next generation. We're not saying that by following them, you will achieve a net worth of the magnitude of Lee-Chin's, but it serves as an invaluable guide for readers who have made a commitment to reach specific financial goals.

Since its inception, more and more individuals have embraced our initiative. We have received more than 100,000 responses to various components of our program, including scores of readers who have requested our free Wealth Building Kit. Legions have applied to our Financial Fitness Contest to try to get a shot at a free consultation from a financial planner and a $2,000 cash prize that can be used to reduce debt or jump-start an investment program.

One of the most rewarding aspects of our initiative has been meeting readers and hearing your stories and aspirations. Over the past few years, our editors have traveled thousands of miles--from New York to New Iberia, Louisiana--to share with you tips on investment and money management. We have participated in more than 100 wealth building seminars, including those held at our Black Enterprise/Microsoft Entrepreneurs Conference, and our Black Enterprise/AXA Advisors Ski Challenge. Says Vice President and Executive Editor Derek T. Dingle: "When we receive letters or comments from people who can now afford to send their kids to college, buy homes, start businesses, or look forward to a golden retirement based on information they've received from our magazine or seminars, we have truly done our job."

Now more than ever, there is evidence of African Americans embracing our movement. Churches and community groups are developing personal finance workshops and seminars in record numbers. African Americans, from white-collar professionals to blue-collar workers, continually form investment clubs. And the 2002 Ariel/Schwab Black Investor Survey showed that the stock ownership gap between high-income blacks and whites was narrowing: 74% of high-income African Americans own stocks or stock funds--30% higher than the 1998 figure of 57%--while 84% of whites own such vehicles--up only 4% from the 1998 figure of 81%. Moreover, the study indicated that black investors held to their investment strategies despite a year marked by recession, terrorist attacks, and "Enronitis."

By following our Black Wealth Initiative and other such wealth building programs, African Americans will come closer to their individual and collective goal: to gain their fair share of the American Dream. Through the pages of this magazine, our Website, and financial seminars, our editors pledge to be with you every step of the way.--The Editors