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Those who have been following along with corporate news in recent weeks may already be aware of president Donald Trump’s ongoing initiative to bring massive financial changes to the tech industry. The head of state and 34-time convicted felon previously announced multi-billion dollar deals with fintech giants including OpenAI, SoftBank and more. The collaboration, which has been titled Stargate , has drawn eyes from a number of tech industry heads, including Apple’s Tim Cook . Now, according to recent reports, Cook himself has announced an effort to invest $500 billion back into the United States economy, with specific plans to hire 20,000 new U.S. based employees over the next five years. Though Apple has always been at the forefront of American engineering and design, this announcement has come as quite a shock to some investors, considering Tim Cook’s outspoken stance on upholding DEI initiatives , in stark contrast to Trump’s demands. Clearly, Cook is able to compartmentalize...
Tracy McGrady has long aspired to team ownership, and now that he’s secured a stake in the NFL, he’s dedicated to increasing representation in the league. As AFROTECH™ previously reported, the basketball icon was announced as a minority owner of the Buffalo Bills in December 2024. He joins his former Toronto Raptors teammate and fellow Florida native, Vince Carter, as part of a group of 10 limited partners, which also includes soccer star Jozy Altidore. This marks the first time the Bills, owned by Terry and Kim Pegula, have expanded their ownership group. “I’ve always wanted to be an owner of a franchise and really didn’t care whether it’s the NBA, a soccer league, whether it’s in the NFL,” McGrady explained in an exclusive interview with AFROTECH™ held at a private reception that was hosted by Diverse Representation and William Morris Endeavor (WME) on Saturday, Dec. 8 to honor Black professionals in sports. Kevell Byrd McGrady also reveals the backstory behind becoming a minority...
Allow your money to work for you. Financial experts Carter Cofield and George Acheampong are bridging the gap in financial literacy among Black entrepreneurs and professionals. Through their platform, Melanin Money, they aim to close the $100 billion wealth gap and help their users achieve their first seven-figure net worth, its website notes. As AFROTECH™ previously reported, the platform launched as an e-commerce brand but scaled into a financial social network in 2017. It offers courses on personal finance, wealth building, and entrepreneurship led by educators. In 2024, these workshops reached 20,000 people. “We decided to create this hybrid educational model where every other month we’re basically doing a virtual conference where people who may be not in a position to hire an advisor or are curious if an advisor is right for them, they get to learn our top strategies over the course of five days,” Acheampong said on the “Black Tech Green Money” podcast, which AFROTECH™ Brand...
The rhythm of ambition often starts quietly—a hum of potential that builds into a bold symphony. For IntusCare, the journey began in the halls of Brown University, where co-founders Evan Jackson and Robbie Felton turned their vision for eldercare into reality, with Stevie Wonder’s song “Sir Duke,” setting the tone for their path forward. Much like a timeless Stevie Wonder groove that lingers long after the music fades, IntusCare’s journey from pitch competitions to industry innovation has been driven by harmony, persistence, and an unwavering belief in its mission. Rooted In Mission: A Personal Commitment To Equitable Care Founded five years ago, IntusCare set out to disrupt the healthcare status quo and deliver high-quality care to low-income older adults — a population often left behind by systemic inequities. Their mission is deeply anchored in serving diverse, marginalized communities, including Black, Latino, and Asian American populations, who have historically faced...
Joanna Brooks has been creating a safe wellness studio for people of color for the past 10 years. She developed an interest in yoga as a teenager and, over time, explored different areas of fitness, she wrote in her LinkedIn bio. This exploration influenced her practices, which include Bikram Yoga, Hot Vinyasa Flow, Vinyasa Flow, Ashtanga, and Yin Yoga, ultimately leading to the establishment of Embody YOGA studio in Milwaukee, WI. “These styles contribute significantly to my teaching style. I am experienced in leading both group and private classes and enjoy working with people of all ages. My intention is for my students to leave class with a quiet sense of strength and peace,” she wrote in her bio. View this post on Instagram A post shared by Embody Yoga (@embodyyogamke) In an Instagram post shared on Tuesday, Feb. 18, Brooks honored the instructors who came before her, giving them their flowers for paving the way — including ZenZen Yoga Arts Founder Therese Bailey. “I’ve said it...
Issa Rae refers to Sienna Naturals’ expansion with Sephora as a “dream come true.” Rae co-founded the award-winning hair care brand Sienna Naturals, which was first envisioned by Hannah Diop in 2012. Diop, reflecting on her own challenges in finding hair products that met her needs, recalls how clarifying shampoos fell short in restoring her hair’s health during her time on the swim team. This firsthand experience played a pivotal role in shaping Sienna Naturals, a brand founded on a proprietary clean chemistry approach that prioritizes scalp health , according t o the brand’s website. The haircare line is powered by hydrating, abiotic, pH-balanced ingredients (H.A.P.I.). “The first impression I want people to have when they use Sienna Naturals is how beautiful their hair is. So that wet-feel design is very intentional,” Diop told AFROTECH™. Photo Credit: Sienna Naturals When Rae discovered Sienna Naturals, she was in the process of learning how to best care for her natural hair...
Dave’s Hot Chicken is considering a sale that would bring the company’s valuation to nearly $1 billion. The popular fast-food chain, founded by Dave Kopushyan, Arman Oganesyan, Tommy Rubenyan, and Gary Rubenyan, has locations in states such as Arizona, Massachusetts, California, Missouri, and Texas. In total, the chain has over 250 locations worldwide, per Reuters. It all started in 2017 with a $900 investment that led to the restaurant’s grand opening as a pop-up in an East Hollywood, CA, parking lot, its website mentions. Its menu features chicken tenders and sliders with spice levels ranging from Lite Mild to Reaper. Sides include fries, mac and cheese, and kale slaw. View this post on Instagram A post shared by DavesHotChicken (@daveshotchicken) The company’s business model appears to be a success with each franchise earning on average $2.19 million in revenue (AUV) per year, according to Sharp Sheets. In total, its locations generate an estimated $1 billion in total annual...
Several Philadelphia, PA , businesses have been passed down through generations, including Paul Beale’s Florist. According to our sister site, Travel Noire, the florist shop, founded by Paul and Altermese Beale in 1971, has spent nearly five decades cultivating a loyal customer base. For Paulette Beale Harris, the second-generation owner, carrying on the family’s legacy isn’t a responsibility she takes lightly. She emphasized that she doesn’t want her parents’ hard work and sacrifices to be “in vain.” In honor of Black History Month , Visit Philadelphia has launched a four-part video series titled “Legacy & Love.” The series highlights Black-owned businesses that span generations and the families behind them, as well as businesses launched to honor loved ones, Travel Noire highlighted. The videos, available on visitphilly.com , feature the stories of the Beale family, Lori Thomson and her mother, Vera Doyle from Vera Doyle Boutique, Yvonne Blake and her granddaughter Alana Rambera...
Megan Thee Stallion has stepped into the spirits industry following advice from Beyoncé. The “Savage” rapper, born Megan Pete, has long admired the fellow Houston artist and credits their first interaction in 2020 with a major career milestone. “My favorite moment was definitely meeting Beyoncé. I met her first in 2020, I think. Every time I see her, I act like a little kid. And I really need to stop that at this point. Like I’m always fanned out,” Megan Thee Stallion told Forbes. Beyoncé’s support for Megan goes beyond music. In addition to their collaboration on the hit record “Savage Remix,” which they performed during the “Renaissance World Tour” in Houston, TX, Beyoncé has also shared valuable business advice — encouraging Megan to launch her own spirits brand. Leading by example, in 2024, Beyoncé made her official debut in the spirits industry with the launch of SirDavis in partnership with Moët Hennessy. The brand offers an American rye whiskey that pays homage to her...
Boston Celtics star Jaylen Brown remains committed to supporting Black-owned businesses, empowering communities of color, and fostering generational wealth along the way. On Feb. 14, 2024, Brown announced the launch of OaklandXChange, a sister project to his nonprofit, BostonXChange (BXC). Jaylen Brown announces a new business district and incubator program as part of his Xchange fund in a speech at a community luncheon at Oakstop in Oakland pic.twitter.com/kZwpd0HYEM — Celtics on CLNS (@CelticsCLNS) February 14, 2025 Founded in 2024, BXC aims to create $5 billion in generational wealth within Boston, MA’s communities of color, AFROTECH™ previously reported. The organization provides funding, resources, workplaces, and mentoring from seasoned individuals to Black and minority entrepreneurs, helping them launch businesses that contribute to sustainable economic growth . According to Sports Illustrated, OaklandXChange, which launched in partnership with Jrue and Lauren Holiday’s JLH...
JPMorgan Chase has begun removing any mention of its DEI efforts from its website, according to The Wall Street Journal. As AFROTECH™ previously mentioned, the bank’s CEO, Jamie Dimon, had vowed to maintain its commitment to diversity, equity, and inclusion (DEI) as well as environmental, social, and corporate governance (ESG) policies, despite pushback from the conservative National Legal and Policy Center (NLPC). The center had also suggested that JPMorgan Chase, which employs 300,000 people globally, reexamine executive compensation tied to DEI goals — an initiative it introduced in 2020 through its “accountability framework.” That same year, the company had launched a $30 billion program to promote racial equity in personal finance as well. In response to the recent pushback, Dimon said at the World Economic Forum in Davos, Switzerland, last month, “Bring them on. We are going to continue to reach out to the Black community, the Hispanic community, the LGBT community, the...
Six years after opening, a Philadelphia, PA, pizza shop continues its mission of providing a fresh start and making life easier for former inmates . According to NBC News, the seven-member staff at Down North Pizza consists entirely of formerly incarcerated individuals, including executive chef Michael Carter. Carter was searching for a new beginning after losing his job during the COVID-19 pandemic and selling barbecue meals off his porch. “When I add up the guys who work here, it’s about 63 years incarcerated. So it’s like we understand each other, where we come from,” Carter told NBC. “We had the same barriers when we came home, like whether it be employment, housing, health care — we all had to figure it out.” Carter was one of the first hires at Down North with experience in the kitchen, AFROTECH™ previously reported. Childhood friends Kurt Evans and Muhammed Abdul-Hadi founded the North Philly staple, hoping to reduce recidivism rates in the area. The restaurant serves pizza,...
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...
Coca-Cola is one of the most popular soft drinks in the world. Well-known for its iconic red branding, this fan favorite has been gracing the shelves of stores since 1886. While it comes from humble beginnings in Atlanta, Georgia Coca-Cola has become a global soft drink sensation; their plethora of products has made a tremendous profit. According to company reports , they made $215 million in just the first quarter of 2024. While the numbers certainly support Coca-Cola’s success, some consumers are starting to question the moral compass of the globally influential brand. Along with countless other popular companies , Coca-Cola is being put in the hot seat. With the ongoing ban on DEI on the federal level, many companies are choosing to follow suit. Some are sticking with inclusive initiatives but overall those seemingly anti-DEI are getting the most attention. These companies are either altogether getting rid of their diversity initiatives or making significant changes to company...
Goldman Sachs Group Inc. has changed its stance on underwriting initial public offerings (IPOs) for companies with all-white male boards. In 2020, CEO David Solomon announced that the leading investment bank would only take a company public in the United States or Western Europe if the organization had at least two diverse board members, one of whom was a woman, AFROTECH™ previously reported. However, as of Tuesday, Feb. 11, 2025, Goldman’s IPO requirement is null and void, according to Bloomberg. “As a result of legal developments related to board diversity requirements, we ended our formal board diversity policy,” said Goldman spokesperson Tony Fratto, Bloomberg reported . “We continue to believe that successful boards benefit from diverse backgrounds and perspectives, and we will encourage them to take this approach.” Goldman’s 12-member board currently includes two people of color , one of whom is a woman. Among the bank’s executives, 73% are white, with 56% being men. Data...