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Former NBA athlete Junior Bridgeman is now a billionaire. From NBA Player To Successful Businessman Bridgeman was among the 1975 NBA Draft class and was selected in the first round as the eighth pick by the Los Angeles Lakers, notes Basketball Reference. He was soon traded to the Milwaukee Bucks as part of a deal to bring Kareem Abdul-Jabbar to the Lakers. He went on to play with the Bucks until 1984 before spending two years with the Los Angeles Clippers. Bridgeman returned to the Bucks for his final season in 1986-87, according to ESPN. His starting salary in the league was two payments totaling $140,000, but he only saw $55,000 due to taxes and agent fees. Over his 12-year playing career, he earned $2.95 million and never made more than $350,000 in a single season. When Bridgeman retired from the league in 1987, he had already considered a roadmap for his post-career as a businessman. Forbes notes that he received guidance from former Milwaukee Bucks owner Jim Fitzgerald, who...
Erin Harkless Moore believes artificial intelligence (AI) can improve the Care Economy. Since 2020, Moore has served as vice president and managing director of investments at Pivotal Ventures, a company launched by billionaire philanthropist Melinda French Gates to advance social progress and accelerate women’s influence globally, per its website. Gates has even committed $2 billion towards the mission. Furthermore, alongside partners, Pivotal Ventures prioritizes an expansive list of pillars within the $648 billion Care Economy, including mental health, paid medical and family leave, and women and tech innovation. Moore is tasked with leading a team responsible for selecting, investing in, and managing a diverse portfolio that adheres to Pivotal Ventures’ mission, her LinkedIn states. “We really start with our investment thesis and our direct investments in care looking at you know tech solutions that reduce burdens of care, lower cost of care, and improve access to care, and...
Shannon Sharpe says he could have been a billionaire if he had moved forward with an investment in Google. During an episode of Sharpe’s “Club Shay Shay” podcast, which featured billionaire businessman Mark Cuban, the host reveals he lucked out of a six-figure investment in Google after receiving advice from his financial team. The opportunity to invest in what has become a major tech giant was while he was in the NFL signed to the Baltimore Ravens. He was under a four-year contract — although he remained with the team for only two seasons, during 2000 and 2001. The contract was valued at $13.8 million, which encompassed a 4.5 million signing bonus and $4.5 million guaranteed, according to Spotrac. “I remember when Google came out and they thought shares were gonna open up at about $85 a share. And I remember sending it to my financial guys, and I was like — ‘Oh, you know what?’ I had just signed with the Ravens, so I had some money. And I was like, ‘Man, I’d like to buy $300,000...
Robert F. Smith is the second-richest Black man in America. Smith follows behind David Steward, the founder of IT management company World Wide Technology, who boasts an $11.4 billion net worth to secure the top spot among Black individuals, Forbes notes. View this post on Instagram A post shared by AFROTECH (@afro.tech) Smith’s return to the list is a result of his role as founder, chairman, and partner at Vista Equity Partners, a firm that invests in enterprise software, data, and technology companies, per its website. With more than $100 billion in assets since its inception, its portfolio companies include Forcepoint, Comply, Datto, Brainware, and InfoBlox, among others. In 2024, Vista Equity Partners made additional billion-dollar moves. This includes joining Blackstone in the acquisition of Smartsheet — an enterprise platform for modern work management — for an all-cash transaction valued at $8.4 billion in September, as AFROTECH™ previously told you. “Modern enterprises rely...
Following PowerSchool Holdings Inc.’s multi-billion-dollar acquisition, Vista Equity Partners has retained its minority stake in the company. According to a press release, PowerSchool Holdings Inc., which operates as a cloud-based K-12 education software, was acquired by Bain Capital through a transaction that was valued at an estimated $5.6 billion, with the company paying $22.80 per share in cash. Bain Capital plans to build on PowerSchool’s successful track record, with its software impacting 60 million students and 18,000 customers across more than 90 countries. “PowerSchool is aligned, throughout its entire organization, to its mission to personalize education and improve learning outcomes,” David Humphrey, a partner at Bain Capital, said . “We’ve had the privilege of seeing the leadership team’s dedication to this mission through a world-class product innovation engine.” Bain Capital Partner Max de Groen added, “We are thrilled to support PowerSchool’s mission and growth as it...
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...
Tyler Perry opened the world’s largest Black-owned studio, not just to build his own legacy but to empower others to create theirs. As AFROTECH™ previously reported, he self-funded Tyler Perry Studios to launch in Atlanta, GA, in 2008. I t’s now reportedly worth $280 million and serves as both a hub for his creative projects and a welcoming space for other filmmakers seeking to rent its stages and spaces. His ambition to succeed and help others is driven by his great-grandfather, who was enslaved, NBC News reports. “I’m on the wave that they set in motion,” he told the outlet. “So I feel like I’m supposed to live well. I feel like I’m supposed to have everything that I want. Not just for me, but for everyone who didn’t get it. …It’s not just about what I’m doing,” Perry told NBC News. “It’s also about all the people that’s affected.” Perry’s vision has manifested in several ways. His workforce is 99% Black and also includes a population of those who were formerly incarcerated and...
Many singing shows have come and gone since American Idol was in its prime, but few contestants have made as much of an impact without actually winning as Jennifer Hudson. You might recall the Chicago native from season three of the reality series, where she quickly won over the hearts of audiences with her stellar vocals and down-to-earth energy. Much to the viewers’ surprise, Hudson was voted out early in the competition, but she didn’t let that stop her from pursuing her dreams. Instead, Jennifer Hudson’s net worth is now in the multimillions thanks to her decades of dedication to her craft . The mother of one is the youngest of three on her maternal side but found out as a teenager that her absent father was responsible for 26 other children. She was only seven when she took an interest in singing in the church choir, and it was her grandmother, Julia, who encouraged Hudson to get involved in community theater. She’s cited Whitney Houston, Patti LaBelle and the late Aretha...
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,”...
Rihanna is expanding her empire! It is no secret hair has been important to Rihanna’s identity. Now she is taking that passion into the business world. The mogul took to social media to announce Fenty Hair will launch on June 13, 2024, and cater to every hair type. “A new family is moving in! @fentyhair is pullin up and it’s time to finally have the hair experience you’ve been waiting for,” she wrote on Instagram. “You know how much switching my hair up matters to me. I’ve had almost every texture, color, length, from weaves to braids to natural- so I am launching a flexible line of products for not only every hair want, but every single product is designed to strengthen and repair all types of hair, which is what we truly need! It’s time to play and get stronger by the style . WE COMING 6/13, but sign up NOW so you can get access and shop before anyone else FENTYHAIR.COM.” View this post on Instagram A post shared by badgalriri (@badgalriri) At the time of this writing, it is...
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...
The production tagline on Metro Boomin’s beats, “If Young Metro don’t trust you, I’m gone shoot you,” is more than a cultural statement — it’s rooted in the long-time friendship and business partnership he has with Atlanta, GA, rapper Future. Emerging from St. Louis, MO, Metro Boomin, born Leland Tyler Wayne, has carved his name in the annals of Hip-Hop history. His talent and ingenuity have propelled him to the forefront of the industry, with his production credits and collaborative acclaim spanning chart-topping songs with Drake, Travis Scott, Gucci Mane, Big Sean, and The Weeknd, among others. It’s About More Than Rap For Metro Boomin While Metro Boomin’s catalog is predominantly rooted in Rap and Hip-Hop, his music is a testament to his diverse range of influences. From the Pop icons that shaped his early musical journey to the eerie soundscapes of horror movies, his unique blend of inspirations is a fascinating insight into his creative process. “Michael Jackson. He was always...
When it comes to turning dreams into reality, hard work, dedication, perseverance, and opportune moments are more critical to success than an arbitrary timeline based on age. However, society continues to pressure people to grind harder and rest less, as if patience isn’t a virtue. History has proven that time is only a construct, noting that it is never too late to manifest dreams. Whether they had a breakout moment in their late 20s or figured out the secret formula in their 30s, these celebrities prove that dreams never expire. Jay-Z The 54-year-old rap legend didn’t have his breakout moment until he dropped his first album, Reasonable Doubt , at age 26. He is now an accomplished billionaire in the music game, with several businesses and investments in his portfolio. Lupita Nyong’o View this post on Instagram A post shared by Lupita Nyong’o (@lupitanyongo) Many people’s first introduction to Nyong’o was her performance in the critically acclaimed film “12 Years A Slave.” Although...
Have you ever wondered what it would be like to be the richest person in the world? You could use your money for good, go on endless shopping sprees, fly private jets, or splurge on ridiculously expensive finds. Sometimes people fall down the Google rabbit hole looking to find out who’s the wealthiest person in the world. In particular, you might even wonder who are the richest women in the world. This is a list for billionaires — those people with so much money it’s actually a little hard for the average person to conceptualize. From business tycoons to legacy silver spoon progeny, here’s a list of the eight richest women in the world. You might be surprised to find that more than half the list is composed of Americans. 1. Francoise Bettencourt Meyers ($90.1B): A Business Built on Beauty If you’ve ever walked down a drugstore beauty aisle, you’re very familiar with Francoise Bettencourt Meyers’ company. She’s the granddaughter of the founder of L’Oreal. Yes, that L’Oreal of beauty...
If you’re familiar with Memphis rap, you know the classic song “Where Dem Dollas At” by Gangsta Boo. While the late rapper’s song is a staple for those who live in the southern city, it also serves as a calling call for anyone looking to level up financially. And one of Memphis’ most prominent figures, Ja Morant, is tapping in and making plans to get all the “dollas” he can. The Memphis Grizzlies point guard declared that he wants to be a billionaire by age 30.