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Major changes may be on the way for Jay-Z’s Marcy Venture Partners. The rapper’s venture capital firm, established in 2018, was created to build “innovative businesses and mass-market brands,” its company website mentions. Its areas of investment focus on sustainability, inclusivity, empowerment, accessibility, and health and wellness. As AFROTECH™ previously mentioned, its investment portfolio includes at least 24 companies such as Wheels, an electric transportation company; Hungry Marketplace, a food tech company; and Rihanna’s Savage X Fenty lingerie brand. MVC also participated in a $33 million funding round for premier beauty brand Madison Reed in 2022 and backed 24-year-old technologist Iddris Sandu to embolden his tech incubator, Spatial Labs. “Aligning with Marcy Venture Partners assists with our vision for elevating the youth as it relates to access and a means to true technological empowerment,” Sandu said at the time. “The lasting impact of this relationship is not simply...
When you think of on-air personalities, a few names automatically come to mind such as Oprah Winfrey, Wendy Williams — and Don Lemon. And while their impact on media is varied, the common denominator is their tenure in the roles with their respective media outlets. Winfrey retired after decades of hosting her show, and personal health challenges initiated Williams’ departure from her talk show. Then there’s Lemon, who has parted ways with CNN after 17 years at the network. He is a Baton Rouge, LA, native and began his career while studying at Brooklyn College, working as a news assistant for WNYW in New York City. According to PBS, Lemon would go on to work for several other local news stations in the New York Area; Philadelphia, PA; and Birmingham, AL. He got his big break in September 2006 when he joined CNN. During his time at the global news station, the 57-year-old hosted major news coverage events, including the 2008 Presidential election, the death of Michael Jackson in 2009,...
President Barack Obama knows how to rule a country — and how to make money. Since leaving office in 2016, AfroTech has been keeping up with America’s favorite President and his subsequent money moves. Whether he’s teaching college courses, joining NBA Africa, or launching a podcast series with Spotify, Barack Obama has been working hard for the money. In fact, Obama has been richer than he’s ever been in his life. Since leaving office, he’s grown his net worth by $70 million, and according to some sources, that’s actually a low-ball estimate. Business Insider reports that the Obamas probably have a much higher net worth than $70 million. When fees for their speaking arrangements, a six-figure pension that all presidents receive, and their Netflix deal are all taken into account — not to mention their new business deals that seem to pop up regularly — the Obamas most likely have a net worth of $135 million. But Barack Obama doesn’t just make his money from speaking fees and pensions....
People are leaving Twitter at alarming rates following the news that billionaire Elon Musk has now acquired the company. According to The Hollywood Reporter, the follower counts for high-profile accounts like former President Barack Obama (the most-followed Twitter user) and Katy Perry have seen a significant drop on the social media platform. “Obama, who is Twitter’s most-followed user with 131.7 million followers, saw his follower count fall by 300,000 since Monday, NBC News says. Perry, who has 108.8 million followers, lost 200,000,” the outlet reports. And, what’s more, the decrease is allegedly happening due to Elon Musk’s estimated $44 billion purchase.
Viola Davis may be one of the most successful actresses in the world today — but she didn’t always have it easy. In an exclusive interview with The Wall Street Journal — whom she sat down with to promote her new Showtime series, “The First Lady,” in which she plays Michelle Obama. T he actress revealed that her humble upbringings forced her to go to extremes to avoid going hungry. “I mean, her Hunger Free program for kids,” Viola Davis said to the outlet, referring to Michelle Obama’s advocacy for the passage of the Healthy, Hunger-Free Kids Act. ” I mention that because I was a kid who was hungry. I grew up in abject poverty. I dumpster-dived. I stole money for food. And I think Michelle Obama, coming from the South Side of Chicago, was very aware of [that kind of poverty].” First Lady Michelle Obama’s advocacy for the act resulted in her husband, President Barack Obama, signing the act into law in 2010. While Davis herself, couldn’t take advantage of the act when she was growing...
When Rick Ross recently announced that he was interested in investing in the Miami Heat, he became one of but a handful of Black men and women who expressed an interest in equity in sports teams. “I’m still interested in getting a small percentage of an NFL or NBA team,” he shared during an episode of Uninterrupted’s Certified Buckets podcast when asked his stance on making a sports investment move. “I’d just invest in the Heat because we got some beautiful additions. And like I say I’m one of those people that can look three seasons ahead… I’m confident, we’ll bring them big trophies back.” This isn’t the first time Ross has expressed interest in investing in sports teams. As AfroTech reported, he expressed an interest in the Los Angeles Clippers in 2014. Back then, both Ross and Diddy were eyeing the possibility of buying the team but ultimately lost out to Steve Ballmer’s $2 billion offer. Currently, there are only six people of color with ownership across all three major U.S....
Flint, Michigan’s guardian angel Amariyanna “Mari” Copeny — also known as “Little Miss Flint” — provided 1,000 backpacks stocked with school supplies for the Flint community on Aug. 15. My event turned out perfectly despite so much going wrong leading up to the event. 1,000 backpacks 10,000 pencils 1200 packs of crayons 2000 notebooks Tons more supplies Filters Books Covid Shots Resources Inflatables Icecream and food truck https://t.co/ag4LlgjLMb — Mari Copeny (@LittleMissFlint) August 17, 2021 Flint, Michigan made national headlines in 2015 due to concerns from local residents regarding strange odors and prominent discoloration from the water supply causing hair loss, skin rashes, and legionnaires disease, Natural Resources Defense Council previously disclosed. To retain funds, the city made a collective decision to replace water provider Detroit Water and Sewerage. Upon waiting for Flint’s pipeline to connect to Karegnondi Water Authority, the government officially ruled to...
When Angela Bassett renegotiated her salary for “9-1-1, ” her ask made headlines. According to Vanity Fair, her $450,000 per episode salary was dubbed as “historic” because it meant that she could now be one of the highest-paid actresses of color in network television. But, as the outlet correctly points out, Bassett’s salary bump wasn’t just for her acting chops (although to be fair, that’s reason enough to pay her that much). Rather, that salary also encompasses her duties as the executive producer of both the flagship show and its spin-off, “9-1-1: Lone Star.” When that’s factored in, it means that dollar for dollar, she’s not making anything near what she deserves. What’s more, what Angela Bassett is making pales in comparison to what some other Hollywood actresses are making. “Higher per-episode paydays were received by Sofia Vergara, who earned a reported $500,000 an episode of ‘Modern Family’ by the end of that show’s run, and Kaley Cuoco, who reportedly received $900,000 per...
According to ESPN, Dennis Schröder has agreed to a one-year deal with the Boston Celtics after turning down a lucrative contract extension with the Los Angeles Lakers. The point guard was the last of the top free agents on the market awaiting a new home after he refused a contract extension worth more than $80 million from Los Angeles. As of Aug. 10, Schröder is headed to Boston for a $5.9 million deal — a significant decrease from what he was hoping to lock in. ESPN reports that, “In Boston, Schroder joins a Celtics team with a hole at point guard in the wake of Kemba Walker being traded to the Oklahoma City Thunder, allowing him a chance to boost his value when he will hit the market again as a free agent next summer.” And, the 27-year-old seems to be in good spirits about the new move. “I’m proud to announce that for the 2021-22 season I’ll be playing for the Boston Celtics!” said the NBA player via Instagram. “This is one of the best franchises in NBA history and it will be a...
He may be the butt of many jokes, but Nick Cannon — and his bank account — are no laughing matter. According to The Hollywood Reporter, the former star of Nickelodeon’s “All That” signed a massive overall deal with Fox Networks in 2018 that netted him a small fortune. And his massive income has only grown year over year. Despite his recent controversial comments that landed him in hot water, Nick Cannon is still the host of “The Masked Singer,” where the International Business Times reports that he makes about $70,000 per episode. View this post on Instagram A post shared by NICK CANNON (@nickcannon) What’s more, according to the outlet, he continues to make money from other acting gigs, endorsement deals, and anything else that falls under his NCredible Entertainment umbrella. His investment strategy even once got him featured in The Wall Street Journal, where he told professional investors that he was “always taught” to invest in land, even in the midst of a recession. He also...
Watching Malia Obama and Sasha Obama grow up before our very eyes has been a real treat. The Obama girls are a Black political legacy that are a source of pride for Black men and women all over the country. But if you believe their father, Malia Obama and Sasha Obama won’t be following in their father’s footsteps to the White House. “Them as teenagers having Secret Service guys follow them when they were going out on dates I think probably has shut down their interest in public service,” Obama said to James Corden, according to USA Today. “They still have PTSD from guys talking into their wrist microphones and glasses as they’re trying to go to a music concert. But you never know. If they decided to do it, obviously I would be extraordinarily proud of them.” No matter, though, because the Obama girls have plenty of other career opportunities at their disposal. Their parents frequently broker a variety of new deals from animated series to podcasts, and they’re also educated and...
Former President Barack Obama is making headlines this week. According to Axios , the 44th president is planning a blow-out birthday bash at his home in Martha’s Vineyard, and is inviting all of his celebrity friends. Invitees include Steven Spielberg and the legendary rock band Pearl Jam. It goes without saying, of course, that there’s a certain contingent that believes this party is evidence of a global conspiracy by the “elites” to implant microchips. And it really goes without saying that they hate the fact that Obama isn’t sitting home stuffing his face with cold Big Macs the way another former president is currently doing. Obama, however, made clear that this will be an outdoor event, that guests are required to be fully vaccinated against COVID-19, and that Martha’s Vineyard is considered a “low-risk” area for coronavirus infection. But if that isn’t enough to make a certain contingent seethe, his net worth certainly will. And at least his is legitimate, and not plagued by...
Former president Barack Obama has plans to take the National Basketball Association’s (NBA) presence in Africa to the next level. According to an announcement from the NBA, Obama is officially a minority owner and strategic partner in NBA Africa’s business, where he hopes to advance the league’s social responsibility efforts across the continent. “The NBA has always been a great ambassador for the United States—using the game to create deeper connections around the world, and in Africa, basketball has the power to promote opportunity, wellness, equality, and empowerment across the continent,” he shared in a statement. “By investing in communities, promoting gender equality, and cultivating the love of the game of basketball, I believe that NBA Africa can make a difference for so many of Africa’s young people. I’ve been impressed by the league’s commitment to Africa, including the leadership shown by so many African players who want to give back to their own countries and...
It’s been over four years since former President Barack Obama was in office. During his term he earned the standard $400,000 salary that Business Insider reports every commander-in-chief receives. The business endeavors he made after leaving office, however, were a large contribution to his now $70 million net worth, according to International Business Times. Before Obama took office, he made about $165,000 a year as a senator of Illinois, according to NBC News. During that time he published several books and took off as an author, profiting over $500,000 from author fees in 2006 alone. Years before running for president, his combined income with his wife Michelle Obama, who at the time worked at the University of Chicago Medical Center, was $1.6 million. While in office, a president has a $50,000 annual expense account, $100,000 nontaxable travel account, and $19,000 for entertainment, in addition to their $400,000 salary, according to Business Insider . The former president now...
Social networks have quickly become our saving grace in the pandemic during a time where people are trying their best to stay connected while safely social distancing. For communities all over, mainly the BIPOC community, a tech company has launched a new social media platform with an overarching goal to unify people during this hectic time. RepItSocial, which is the same name as the tech company, is a revolutionary social media app that is poised to become the central hub for all things BIPOC, according to a press release. Courtesy of RepItSocial RepItSocial — developed by co-founders D’Oyen and Azalaya Fraser, and former BET Networks president Jefferi K. Lee — is described as “the new face of social media that represents the voice, energy and true diversity of this new generation. It is the premium platform for entertainment, empowerment and unification of all things BIPOC (Black, Indigenous, People of Color),” a press release shares. Similar to the melting pot that is America,...