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A large body of research documents racial disparities in wealth, most often conceptualized through a Black-White/White-non-White binary in the United States. Yet less is known about how race, as a multidimensional construct, shapes wealth accumulation outside the U.S. Drawing on the theory of embodied capital and a multidimensional approach to race, this study examines the direct associations between self-identified race and skin color on household wealth, as well as their indirect associations via education and household income. We center Jamaica as a critical case—a majority-Black country shaped by European colonialism—where racialized embodied traits function as salient markers of social advantage. Using nationally representative data from the AmericasBarometer surveys (2012–2018) and path-model estimation, findings indicate that darker skin tone is directly associated with lower household wealth. Skin color is also indirectly associated with wealth through education and household income, and via a sequential education-to-household income pathway. In contrast, the association between self-identified race and wealth is largely attenuated once skin color is included. Findings highlight the central role of colorism in shaping wealth inequality and show that education and household income only partially account for race-based disparities in Jamaica.