Russell Simmons, co-founder of Def Jam Recordings, and civil rights activist Dr. Benjamin Chavis partnered with the Hip-Hop Summit Action Network and Wal-Mart to host Get Your Money Right, a summit aimed at teaching people financial empowerment, at Texas Southern University on Saturday.
The summit was created to provide young adults with important financial information and to illuminate various opportunities for economic advancement.
‘This is information you can use to affect your life, for the rest of your life,’ Chavis said as he introduced the panel to the audience.
The panel featured celebrities such as Simmons, actor Terrence Howard, rappers Bun B and Slim Thug, BET personality Alesha Renee and Madd Hatta of Houston hip-hop radio station KBXX.
U.S. Rep. Sheila Jackson Lee, Houston Chronicle columnist Shannon Buggs and author Lynn Richardson were also in attendance.
Before the panel discussion began, Wal-Mart Regional Vice President Rick Acosta told the audience that the event was designed to ‘put tools in your financial toolbox.’
Broadcast senior Morghan Miller said she felt the summit would be beneficial to many people.
‘I think the event and its intentions were tremendously necessary, especially today,’ Miller said.’
‘People our age are so caught up in imitating celebrities we see on television that we end up spending money that we don’t have,’ Miller said.
Madd Hatta said the best way people can take care of their money is by not spending what they don’t have.
Bun B also had some words of advice for the audience.
‘Assess your lifestyle,’ Bun B said. ‘Make sure your money is working for you, and you’re not working for your money.”
Other topics discussed included the value of serving others and hard work.
‘ ‘Good givers are great getters,’ Simmons said, before adding that his legacy lies on what he can do for other people.
The panelists discussed the influence pop culture has on society and how it could lead to financial crisis.
‘We as a culture need not be defined by material things; things we can’t take with us,’ Renee said.
Faith was another subject talked about amongst the panelists.
‘My favorite moment of the summit was when Terrence Howard quoted Jesus,’ Miller said. ‘Making that connection really hit home.’
Bun B also weighed in on the importance of having religious beliefs.
‘You have to believe in something more powerful than yourself,’ Bun B said.
