The Tulsa Real Estate Fund was named in honor of the prominent African American community in Tulsa, Oklahoma dubbed “Black Wall Street” that was viciously attacked by ground and air during the 1921 Tulsa Race Riot.
“Black Wall Street” was made possible during this time in history because anyone could raise money from peers or the general public without any federal scrutiny. Following the Great Depression (1932), the Security and Exchange Commission was formed (1932), and adopted the accredited investor guideline for public fundraising meant to protect and minimize investors from excessive market risk. This protection prevented many individuals and families from legally participating in some of the most advantageous investment opportunities, because the accredited guideline only allowed those with a net worth in excess of $1,000,000 to participate in public raises and offerings. This was a disadvantage for many Americans, especially the Africans in America who had little opportunity and resources to amass $1,000,000 of net worth.