Moguldom is most noted for sites such as Bossip.com and HipHopWired which have generated significant web traffic since the media group’s conception in 2006.

“The African-American community produces its own leaders,” said Marve Frazier, CEO of Moguldom Media Group. “The online resources that serve these individuals should originate within our community as well, rather than leaving them to make do with more generic publications that fail to reflect the unique needs and preferences of high-income African-Americans.”

Read the full press release here.

Black is the New Green: Marketing to Afluent African Americans

According to the authors, the total number of affluent ethnic households in the United States in now estimated at over 1.3 million, the buying power of affluent African Americans (referred to as AAA’s in this book) is currently $87.3 billion. This massive buying power is expected to reach more than $1.1 trillion by 2012 – just three short years for a cumulative growth of 28.4 percent.

Hoffman and Burnett stress that the affluent African American market has been underappreciated and overlooked. They also reason that with a sitting African American president—the time is now to tap into this market and to embrace a constituency that will have a lasting effect on your bottom line.

Hustletown readers, is your business in position to grow from this suggested trend? Let us know your thoughts in our comments section below!