The main thrust of the song is that:
A black man may make it big, and appear to have money and be respected by white America. They are, at this point be able to just about be able to say that they are "white". It is because of people like this that white America gets the impression that "racism is over" since "Everybody love OJ". At the same time the black celebrity may get the impression that they have made it and they are white. However, as soon as something goes wrong the wolves come out. "I always knew it." "Trust a black man to..." etc.
JayZ is asking "why does this happen to black people and not to white people [or Jewish people]?" And the answer to Jay is that white people, and especially Jewish people were forward looking, thinking generationally, and invested their money back into their community and their family, so that the next generation starts with a strong future basically assured. Black America, by contrast, invests in itself at an individual level. They buy things that have no capital value (services like strippers, rented boats/private jets), or things that don't generally appreciate in value (like cars). For the black man to overcome, they should invest their money: buy fine art that will quadruple in value in ten years. Buy real estate that will quintuple in value in 20 years. Put the money back into the community you came from: donate to schools, build things the community needs, so that you could conceivably raise your kids there.