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12  STUDENTS FOR FAIR ADMISSIONS, INC. v. PRESIDENT 

AND FELLOWS OF HARVARD COLLEGE 
JACKSON, J., dissenting 

between home ownership and wealth.  Today, as was true 
50  years  ago,  Black  home  ownership  trails  White  home 
ownership by approximately 25 percentage points.51  More-
over,  Black  Americans’  homes  (relative  to  White  Ameri-
cans’) constitute a greater percentage of household wealth, 
yet  tend  to  be  worth  less,  are  subject  to  higher  effective 
property taxes, and generally lost more value in the Great 
Recession.52 

From  those  markers  of  social  and  financial  unwellness 
flow others.  In most state flagship higher educational in-
stitutions, the percentage of Black undergraduates is lower 
than the percentage of Black high school graduates in that 
State.53  Black Americans in their late twenties are about 
half  as  likely  as  their  White  counterparts  to  have  college
degrees.54    And  because  lower  family  income  and  wealth 
force students to borrow more, those Black students who do 
graduate college find themselves four years out with about 
$50,000  in  student  debt—nearly  twice  as  much  as  their 
White compatriots.55 

As  for  postsecondary  professional  arenas,  despite  being 
about  13%  of  the  population,  Black  people  make  up  only 
about 5% of lawyers.56  Such disparity also appears in the
business realm: Of the roughly 1,800 chief executive officers 
to have appeared on the well-known Fortune 500 list, fewer
than 25 have been Black (as of 2022, only six are Black).57 
Furthermore,  as  the  COVID–19  pandemic  raged,  Black-
owned small businesses failed at dramatically higher rates 

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51 Id., at 87; Wealth of Two Nations 77–79. 
52 Id., at 78, 89; Bollinger & Stone 94–95; Dickerson 1101. 
53 Bollinger & Stone 99–100. 
54 Id., at 99, and n. 58. 
55 Dickerson 1088; Bollinger & Stone 100, and n. 63. 
56 ABA, Profile of the Legal Profession 33 (2020). 
57 Bollinger  &  Stone  106;  Brief  for  HR  Policy  Association  as  Amicus 

Curiae 18–19.