The White Bonus

Interview with Tracie McMillan, MarketWatch, 2021

In her book The White Bonus: Five Families and the Cash Value of Racism in America, journalist Tracie McMillan puts a number on the advantages of being white. She calculates her own “bonus” at $371,935, divided into a Family Bonus (inherited wealth shaped by policies like redlining or selective GI Bill access) and a Social Bonus (bias that quietly turns into material help).

Other families she interviewed reported “bonuses” ranging from $77,000 to $370,000 — covering things like tuition support, housing help, or debt forgiveness. While the estimates aren’t precise science, they make privilege tangible, connecting everyday lives to the huge racial wealth gap: in 2021, white households held a median wealth of $250,400, compared to $24,520 for Black households.

McMillan emphasizes that white privilege doesn’t mean all white people are wealthy. Her own grandfather was poor, but still promoted over Black coworkers because he was white. She explains that white people may struggle financially, but their race isn’t making it harder. Black and Brown families, on the other hand, face systemic barriers in the same situations.

She encourages readers to reflect on their own lives. Did your family help with expenses after age 18? Did you avoid legal consequences others might not? Did government policies boost your parents or grandparents? These are the kinds of hidden “bonuses” that add up.

Her core point: naming the value of whiteness makes invisible advantages visible. And ending racism, she argues, would help everyone — including struggling white families who have often supported harmful policies.