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Yo Gotti is seeing a return on his investment in D.C. United. The “Rake It Up” rapper purchased a minority stake in the league in 2021 at a time when it was valued at $730 million, as AFROTECH™ previously reported. His foray was driven by his admiration for Jason Levien and Steve Kaplan, co-chairmen of D.C. United who have former ties to the NBA’s Memphis Grizzlies, which represents Yo Gotti’s hometown. “What I’ve seen them do in Memphis with the Grizzlies and just as businessmen in general; I wanted to be in business with them. D.C. United, I think, is a great organization and D.C. has always been, overall, one of my favorite markets, even as an entertainer,” Yo Gotti told The Athletic. “It’s always been one of my favorite cities to come to — the whole DMV area has always been one of my favorite places to come to. Being from Memphis, even when I was building outside of my tri-state area, I want to say that Maryland, Baltimore, those were some of the biggest shows I’ve ever done. So...
Hello Alice is continuing its commitment to serving underserved entrepreneurs. In partnership with the Global Entrepreneurship Network (GEN), Hello Alice has officially launched the next round of Baltimore Gas and Electric Company’s (BGE) Energizing Small Business grant program. The initiative offers $20,000 grants to central Maryland businesses to help them succeed and thrive, according to the Hello Alice website. No stranger to empowering local small businesses, the BGE Energizing Small Business grant deployed more than $2.5 million in grants to 129 small businesses in central Maryland in 2023. “When small businesses thrive, they become powerful economic engines, creating even more opportunities in their communities and we are so pleased to celebrate today’s grant recipients,” said BGE President and CEO Carim Khouzami in the 2023 grant announcement. “Since 2019, BGE has granted over $13 million to small businesses throughout Central Maryland. This is in addition to other small...
Yo Gotti did not pay his property taxes for years due to a lack of information. During an interview with podcast “Earn Your Leisure,” the rapper revealed he was unaware he had to pay back taxes to the government. He viewed taxes as a celebration as he recalled the gifts he would receive from his mother around tax season. He didn’t know these gifts were likely coming because she had received a tax refund. “I grew up thinking, when you heard of taxes, my mama and ’em got tax money. That’s when we got new Jordans. We got new outfits… It was a celebration when it was tax time,” he said. “We was waiting on tax time. It was better than Christmas. So, I didn’t know… even in my early stages of getting money, I didn’t know we had to pay. I didn’t know because of a lack of information; they didn’t teach me that in school.” Lack of financial literacy carried over into how Yo Gotti did business too. As an investor in real estate early on, he purchased 10 to 15 homes with cash. However, he...
Shaquille O’Neal’s new educational initiative is underway. As AFROTECH™ previously reported, O’Neal learned of the efforts of Tade Oyerinde, who founded and leads accredited online community college startup Campus, while reading a Forbes article about him. The startup had received a $29 million funding raise in 2023 with OpenAI CEO Sam Altman and Discord Founder Jason Citron leading its Series A funding round. “Shaq saw the Forbes article and had his team reach out, and he was just like, ‘This kid raised all this money from these guys.’ He thought it was unbelievable,” Oyerinde told AFROTECH™ at the time. O’Neal was so impressed that he wanted to get involved in Oyerinde’s mission. He is now an investor in the company and, most recently, is kicking off Campus’s latest initiative. According to a press release, O’Neal and Campus.edu plan to provide 500 high school students and recent graduates with access to business courses taught by college professors from top colleges and...
Serena Williams has positioned herself for a lifetime of success. However, as a mother, her children’s well-being also defines true victory. Williams and her husband, Reddit Founder Alexis Ohanian, have two daughters: Alexis Olympia Ohanian Jr., who is now 6 years old and was born on Sept. 1, 2017, and Adira River Ohanian, born in August 2023. View this post on Instagram A post shared by Serena Williams (@serenawilliams) Early on, Williams and Ohanian began making moves to establish wealth for their daughters. When Olympia was 2 years old, she made history as the youngest professional sports team owner. As AFROTECH™ previously reported, she became part-owner of the women’s soccer team Angel City FC (Los Angeles, CA), along with her parents. “As someone who spends hours kicking around a football with my two-year-old daughter, I want her to have a front-row seat to this revolution,” Ohanian said in a National Women’s Soccer League news release at the time. “I’m personally investing on...
Jerami Grant is now a team owner! The Portland Trail Blazers forward joined the D.C. United ownership group as an investor, a press release mentions. The move marks a full circle moment, given his upbringing in the DMV region in Maryland. Now, he will have a chance to not only sport a new hat but also discover new ways to reinvest in the region, he reveals. “I am honored to be joining the D.C. United ownership group. Having grown up in the DMV, Washington, D.C. holds a special place in my heart, and I am proud to invest in the community that has played a significant role in shaping who I am today,” Grant said in the news release. “D.C. United’s ownership group has shown impressive growth over the years, extending their influence beyond sports into the realms of music and arts, which is something I deeply respect. The club’s commitment to social responsibility is admirable, and I am eager to contribute in a meaningful way by giving back to the community. I strongly believe in the...
If artists aren’t cautious, record labels may be able to “rake it up” off of the strength of a musician’s creativity. Over the weekend, Memphis rapper Yo Gotti released his eleventh studio album “CM10: Free Game,” which includes 22 songs and additional releases from other artists including EST Gee, 42 Dugg, Moneybagg Yo, Kodak Black, Blac Youngsta, Shenseea, and 10Percent. Some fans have speculated that the recent project is actually the last album we’ll get from the rapper. According to Complex, along with the release of the new project, Yo Gotti is allowing aspiring artists to record a verse on his latest track, “Dolla Fo’ Dolla.” He says that from there, the artist can do whatever they please with the new version of the song. “You make the paper from it, I ain’t even trippin’,” he said regarding the news, which is through a partnership with Equity Distribution. “I own the masters of my record, I can do that shit for you. No label would ever do no sh-t like this.” While this...
The year 2021 has served as a huge wake up call for diligent action to be taken for Black female athletes to be provided with more opportunities, proper recognition — and most importantly — better care. To help in dismantling the structural barriers that they face, the Black Women’s Player Collective (BWPC) is building a community for Black female athletes in soccer. Black women continue to dominate in their respective sports and bring value to the game, yet the support they receive doesn’t always match up. Founded by Black players in the National Women’s Soccer League (NWSL), BWPC is an organization taking action to expedite the movement for Black women to acquire equity, representation and access in the sports industry. With the mission of helping to shift the culture, adidas recently became a long-term partner of BWPC and is spearheading an initiative to connect young Black girls and women in soccer across the country. adidas and BWPC’s partnership aims to foster a space of...
This rapper is entering into new territory. As both a rapper and businessman, Yo Gotti helms as the founder of Collective Music Group. The record label has signed heavy hitters like 42 Dugg, Moneybagg Yo and Blac Youngsta. Now, the music boss is stepping into new territory setting his eyes on a new business venture. According to The Washington Post, Yo Gotti has joined petroleum executive Eyob “Joe” Mamo as a part of an investment group for Major League Soccer (MLS) team D.C. United. Other affiliates associated with the group have not been identified but are speculated to be in the national business sector. The group is projected to gain a six percent stake in the MLS if approved. Yo Gotti has reached an agreement to purchase a minority stake in D.C. United, per @novy_williams . The rapper is part of a group that will gain about a 6% stake in the MLS club, pending approval. In June, RB Mark Ingram also invested in the team at a valuation of about $710M. pic.twitter.com/v5vUaHhWXb —...