BET founder Robert Johnson is calling for $14 trillion in slavery reparations for the Black community.
He says the amount will help to aid racial injustice against African Americans.
"Now is the time to go big" to keep America from dividing into two separate and unequal societies, Johnson said during a sitdown with Squawk Box.
"Wealth transfer is what's needed," he continued. "Think about this. Since 200-plus-years or so of slavery, labor taken with no compensation, is a wealth transfer. Denial of access to education, which is a primary driver of accumulation of income and wealth, is a wealth transfer."
Johnson added, "Damages is a normal factor in a capitalist society for when you have been deprived for certain rights. If this money goes into pockets like the [coronavirus] stimulus checks -- that money is going to return back to the economy" adding that there will be more Black-owned businesses, he added.