50 Cent has revealed one of those “unwritten laws of business.” The artist and entrepreneur took to the stage at Invest Fest in Atlanta, GA, and shared his unspoken rule in business: Never appear to need anything. He then clarified the thought process behind this surprising rule. “One of the unwritten laws of business is to not appear to need anything,” he said during Invest Fest, according to HipHopDX. “Because everybody will do you a favor when you don’t need one. If they can expect a bigger favor in return or a favor from you at some later point, they’ll find the ability to just do it.” He added: “That’s why when they tell me no, I go — if television say[s] they [are] going on strike, I say, ‘Okay, I’m on tour.’ That last tour [the Final Lap Tour], I did 103 shows. It’s the third-highest-grossing Hip-Hop tour ever.” Although the saying “closed mouths don’t get fed” is commonly accepted, 50 Cent has succeeded in various ventures despite not adhering to this principle. While it is...

A new update regarding the potential sale of BET has been revealed. According to Bloomberg, Paramount is reportedly in talks with BET CEO Scott Mills and CC Capital Founder Chinh Chu, who are looking to buy the network. Bloomberg’s anonymous sources share that the group is aiming to offer $1.6 billion to $1.7 billion. The outlet details that the new offer follows the group’s initial attempt to purchase BET in December 2023 for “a little under $2 billion” and also comes after Paramount’s proposed merger with David Ellison’s Skydance Media fell through. As previously shared by AFROTECH™, Byron Allen has shown avid interest in being a potential buyer of BET. So much so that he reportedly placed an offer of $3.5 billion that same month. The whopping offer marked the media mogul’s second attempt to lock in the opportunity to make BET Black-owned again. “You are pursuing an inside sale at a below-market price with management that will not yield the highest price for the stockholders,”...

A new health clinic has opened in Michael Jordan’s hometown of Wilmington, NC, following a generous donation by the NBA legend. As AFROTECH™ previously reported, Jordan had donated $10 million in 2022 to support the development of medical clinics to the regional healthcare system Novant Health, which will offer its services to both uninsured or underinsured residents of New Hanover County in North Carolina. Prior to May 8, 2024, two clinics had been opened to families in town, with two others in Charlotte, NC. Speaking on its impact, residents who have “never had a primary care provider before” have “praised the clinic teams for helping restore health and a sense of hope,” according to a press release, People reports. Now, the clinic will be extending its impact in light of a third Wilmington clinic, which includes 12 patient rooms. The Novant Health Michael Jordan Family Medical Clinic has opened on Greenfield Street with the goal of bringing “much-needed comprehensive primary care...

In many cases, capitalism is a social construct that has caused irreversible damage to society. From the decentralization of humanity to the allure that more money somehow means greater ease in life. The notion has conditioned people to prioritize wealth at any cost. But Bad Boy warned us about some of the heartaches that come with earning a lot of money in their 1997 hit “Mo Money Mo Problems.” Due to the capitalist society, especially in America, many people who do possess a certain amount of privilege are not ranked among the top earners. Furthermore, those who face systemic barriers and societal woes sometimes find themselves at the bottom of the wealth totem pole — labeling them poor. The United States Census Bureau is the agency responsible for measuring and determining poverty. According to the agency’s website, “the official poverty definition uses money income before taxes and does not include capital gains or noncash benefits (such as public housing, Medicaid, and food...

Patrice Motsepe has just added more to his $3.1 billion net worth. According to Business Insider, South Africa’s richest Black man — and one of the world’s Black billionaires — has just purchased a wine farm. The outlet reports that the luxury wine farm is called Hidden Valley, and it’s located in Stellenbosch and Somerset, South Africa. “The sale, which was recently announced, includes the purchase of a 28-hectare farm listed for sale at R160 million but was acquired for between R100 million ($5.5 million) and R120 million ($7.9 million) in cash,” confirms Business Insider. “The mining tycoon reportedly paid more for the property than former owner Riaan Stassen did in 2015 when the property was first purchased.” While it’s unclear why Patrice Motsepe decided to purchase this vineyard, what’s clear is that experts believe it will encourage tourism in the area. “This will be good in terms of advertising the brand and making it more attractive to other markets,” Wines of South Africa...

From media and entertainment to private equity and investments, Black billionaires are proof that despite the odds we can achieve true financial freedom. This year, Forbes released its 2021 Billionaires list with a record-breaking number of 2,755 billionaires making the cut — a jump of 660 from its list published one year ago. Even across age, geographic locations, industries and race, today’s incredible Black businessmen and women are still showing that it’s possible to overcome obstacles and join one of the most esteemed populations in the world. Of the many billionaires on the list, here are the world’s Black billionaires in 2021 who represent amongst the richest group worldwide. Jay-Z – $1.4 Billion Jay-Z broke the glass ceiling for Hip Hop as the culture’s first billionaire, but his fortune continues to grow on account of his many business endeavors. As AfroTech previously reported, much of his wealth stems from sales from Roc Nation, Armand de Brignac, his D’Usse cognac, music...