Chris Brown has been in the game for a little over two decades, and making smart business moves coupled with his talent may just be the reason for his longevity in the industry. During an appearance on “The R&B Money Podcast” with hosts J. Valentine and Tank, the R&B crooner opened up about what encouraged him to make franchise investments early on in his career. “I was 17 when I started trying to invest in certain things, just ‘cause I knew… You don’t know how long you going to be successful, and it’s not like every artist can make it look like they getting money, getting money,” he told his fellow R&B comrades. “If you’re not a touring act, if you’re not doing stuff, you need an exit strategy.” As previously reported by AFROTECH™ , during a 2015 interview, Brown told US Weekly that he was the owner of 14 Burger King restaurants. This type of planning, he told the “R&B Money Podcast,” can be a game-changer for an artist. “My investments were like into Burger Kings and stuff like...

A new day has begun in Detroit, MI, thanks to the leadership of the Detroit Black Community Food Sovereignty Network. For nearly a decade, the Motor City hasn’t had a full-scale Black-owned grocery store, Detroit Metro Times reports. Now, in May 2024, Detroit People’s Food Co-Op, the first Black-led co-op grocery store in Detroit, has opened its doors. As Detroit is one of the major U.S. cities that faces a significant shortage of food access, Detroit People’s Food Co-Op offers fresh, local grocery items, a deli, and a coffee bar. The outlet details that the store’s fruits and vegetables are sourced from four Black-owned farms in Michigan. In addition to providing quality food and health and wellness products, what makes the grocery store special is that anyone age 21 and over can become a member and have ownership in the co-op. On May 1, 2024, it had over 2,700 members and counting. “This is not something you’re invited to. It’s literally yours,” said Lanay Gilbert-Williams,...

A teenager is on his way to making history in Indiana. ABC-7 in Chicago, IL, reports that at age 15, Khaya Njumbe is set to become the youngest college graduate in Indiana. As the first generation of his family born in the U.S., the teen lives in Gary, IN, and attends Indiana University Northwest. He will cross the graduation stage in May 2024 — making him the first to do so in his family. The outlet details that to get a head start on the achievement, Njume took dual-credit courses at 21st Century Charter High School. Theresa Canady, a social worker at the charter school, shared that he initially started taking college courses at age 11. “When I was younger, I had a lot of ambition,” Njumbe told the outlet. “I always just wanted to do more, impress my parents mainly. I was always an overachiever in school.” Jack Bloom, one of Njumbe’s professors at Indiana University Northwest, shared, “It’s pretty amazing. Obviously the stuff he can do is beyond what most people can do.” He added,...

Not having a chance to invest in major players in tech ultimately catapulted Serena Williams into the investment ring. During an interview on Bloomberg’s “The Deal,” Williams recalls a time in her tennis journey when she could have faced less pressure to win on the court if she had placed dollars in companies such as Facebook, Airbnb and Google — all companies valued at more than $100 billion today. “Tennis is all sponsor based, and I would see like some of these sponsors come up, but I’m like, ‘Well I have some little cash, like how did I not invest in Facebook? How can I invest in Airbnb or how did I miss Google? Or like, you know, all these companies,'” Williams said on “The Deal.” “ And I started to ask these questions like, ‘Why am I out here breaking my neck and sweating when I could have invested in these companies and I could still be doing the same thing, but it wouldn’t have to be such dire needs, ‘I’ve gotta win this U.S. Open this year. I’ve gotta pay these bills.’ So, I...

Spelman College students have been reigning undefeated for the Goldman Sachs Market Madness Competition through the HBCU Possibilities Program. In April 2024, Victoria Cain, Makhi Frempong, Olivia Rivera-Spann, and Symone Thompson won the pitch competition and its $1 million top prize, according to a news release. The victory marks the HBCU’s third win in four years. “Emerging victorious in the Goldman Sachs Market Madness competition is a genuine reflection of our unwavering perseverance, meticulousness and the goodness of God,” said Frempong, who is an economics major, according to the news release. “This exceptional contest provided us with a platform to hone our abilities and visualize our forthcoming roles as analysts in the industry. It is a remarkable feat to be part of Spelman’s enduring heritage by virtue of our hard work. This journey has been truly extraordinary, demonstrating our growth as professionals in an astonishing manner.” The win came after Frempong, Cain,...

TikTok and Universal Music Group (UMG) have agreed on new licensing conditions to bring the group’s tunes back to the social media platform. According to the TikTok newsroom, the joint agreement between the two entities “marks a new era of strategic collaboration.” “By harnessing TikTok’s best-in-class technology, marketing, and promotional capabilities, UMG and TikTok will deliver improved remuneration for UMG’s songwriters and artists, new promotional and engagement opportunities for their recordings and songs, and industry-leading protections with respect to generative AI,” read the report. What’s more, fans will see a return of UMG’s recorded music and publishing catalogs on TikTok, thus allowing users to go back to creating content with sounds from some of the culture’s biggest musicians. “Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group,” TikTok CEO Shou Chew said. “We are committed to working together...

In recent years, musicians have been pushing for regulations around artificial intelligence (AI) in the music industry. As previously reported by AFROTECH™, in February 2024, artists such as Mary J. Blige, Cardi B, 21 Savage, and more signed an open letter in support of the bipartisan bill No Artificial Intelligence Fake Replicas and Unauthorized Duplications Act (or No AI Fraud Act), which aims to regulate AI deepfakes and AI cloning of both voice and likeness. While the movement against AI deepfakes continues, one artist is using the controversial technology to her advantage. BBC reports that FKA Twigs went before the U.S. Senate Judiciary subcommittee to say that artists should have ownership over how AI uses their voice and overall likeness in addition to how there is music online that she didn’t create yet it emulates her voice. The British singer revealed that she had created her own deepfake, AI twigs, with the purpose of allowing her to focus on her artistry. “These and...

Ethiopian sustainable tech startup Kubik has scored a first for the country. According to a press release sent to AFROTECH™, it has raised $5.2 million in a seed round. Investors include East African venture capital firm African Renaissance Partners, Endgame Capital, and King Philanthropies. It will now further its work in using plastic waste to make affordable buildings and removing waste from the environment. “Kubik’s vision to build safe and affordable living for all speaks directly to King Philanthropies’ mission to catalyze solutions at the intersection of climate and livelihoods,” Kartick Kumar, managing director at King Philanthropies, said in a press release. “Kubik is at the forefront of innovation in Ethiopia and across the African market, and we’re proud to support the tremendous impact they’re making combatting plastic waste and providing safe, durable, and affordable housing.” The funding round makes Kubik the first Ethiopian country to earn a multi-million-dollar...

Lionel Richie is arguably one of the most iconic voices, faces, and mustaches in all of music history. The singer-songwriter rose to prominence in the 1970s as a leader of the Motown movement and fronted the platinum-selling funk soul group Commodores before eventually going solo. He has written numerous hit records for himself and other artists, including instantly recognizable tracks such as “Hello,” “All Night Long,” and “Endless Love.” Richie has taken home Grammy Awards , Golden Globes, and even the Gershwin Prize for Popular Song from the Library of Congress. In 2022, he was inducted into the Rock and Roll Hall of Fame, due to his unmatchable achievements in music and culture. Richie has developed a reputation as one of the most successful balladeers of the 1980s, and sold hundreds of millions of records across the Earth over the course of more than 5 decades. With that in mind, it should come as no surprise that Lionel Richie touts a massive net worth of over $200 million,...

Reading is one of the fundamental skills required for youth to excel academically. However, there has been a rising number of children who struggle with literacy skills. According to The Nation’s Report Card, only 33% of fourth-grade students could read at or above the basic reading level as of 2022. To be a part of keeping students motivated to read, Beanstack, formerly known as Zoobean, stepped in. Founded by husband-and-wife team Felix Brandon Lloyd and Jordan Lloyd Bookey, the edtech startup was created to not only support children’s reading growth but also grow their overall love for reading. The drive to launch the company stems from the founders’ background in education. In addition to Bookey serving as Google’s head of K-12 education outreach, Lloyd had worked in the public school system. He started out as dean of students at the SEED Public Charter School, where he was named Washington, D.C.’s “Teacher of the Year.” Then, in 2007, Lloyd was selected for Echoing Green’s...

Chris Brown is an iconic and well-known singer, songwriter, actor and world-class dancer. Working since he was 16, Brown has continued to thrive within the entertainment industry and has managed to establish a massive nest egg to secure his financial future. According to Celebrity Net Worth, Chris Brown touts a net worth of over $50 million, earned mostly through his music career , brand and endorsement deals, and investment portfolio. Brown has taken home literally hundreds of accolades celebrating his music career, including a Grammy Award, 19 BET Awards, 60 ASCAP Awards and 4 NAACP Image Awards. With over 140 million records sold worldwide, Chris Brown’s biggest contributing factor to his massive net worth is certainly his music career, which has now spanned over 20 years. Without any further preamble, let’s take a look at Brown’s body of work, business and real estate holdings, and other income, and understand how he’s managed to stack his millions. Early Life & Career Start...

NBA legend Michael Jordan is enlisting a team of athletic superstars as co-owners of his award-winning tequila company. In a press release shared with AFROTECH™, the NBA Hall of Famer has tapped Serena Williams, Derek Jeter, and a host of other athletes and sports enthusiasts as investors in his award-winning portfolio of luxury tequilas, Cincoro Tequila. “Cincoro has always been special to me because of the authentic friendships we’ve established around enjoying Cincoro and spending time together, designing it, experiencing it, and tasting it. We are constantly striving for greatness,” Jordan, co-founder of Cincoro Tequila, said. “And now that we’re welcoming in some of my closest friends to the business, I’m looking forward to this next era of Cincoro alongside this all-star team.” The company’s new ownership group, Team Cincoro, also includes RedBird Capital Partners Founder and Managing Partner Gerry Cardinale; The Lerner Family, owners of the Washington Nationals; former NFL...

Airbnb is already known for helping millions of people across the world travel in style. However, now, it’s taking its rentals to even more of an iconic level. On May 1, 2024, for its 2024 Summer Release , Airbnb unveiled “Icons,” a new category that transports travelers to exclusive experiences across the world that they haven’t had access to before, according to a press release shared with AFROTECH™. During the Summer Release presentation in Los Angeles, CA, Airbnb Co-Founder and CEO Brian Chesky shared that the offering has been about a decade in the making from the inception of the innovative idea to its release. Previously, Airbnb has been behind experiences such as allowing guests to lodge in the last Blockbuster store, located in Bend, OR — the only Blockbuster still open in the world — in 2020. Chesky and his team have expanded on such an inventive idea to create even more adventures and inspire people to dream. Composed of first-of-its-kind experiences that feature some of...

Beyoncé’s Cécred is looking to make an impact outside of just the haircare industry. As previously shared by AFROTECH™, the technology-backed company launched in February 2024. Testing was a big proponent in bringing the haircare line that’s “validated by science” to life. “Every hair texture deserves testing, research and development,” Beyoncé told Essence for its March/April 2024 cover story. “Black women in general are the last to be included in testing. We are often prescribed things based on studies we were not included in. It’s bigger than me, or hair. Now we have created something that celebrates healthy hair for all women, including us. I’m always honored to invest in us.” Within the same month of Cécred’s launch, BeyGood, Beyoncé’s public charity foundation, announced its Cécred x BeyGood Fund. According to its website, the annual $500,000 fund was created to give back to professional hairstylists for the impactful work they bring to their respective communities. “Fostering...

TikTok is a social media app that truly requires no introduction. Unless you’ve been in a coma for the last 5+ years, you’ve either used the app yourself, or had extensive exposure to it from friends, family members or reposts on other websites. Now that the United States government is mounting a full-scale attack on the Chinese app, more members of the public are looking into TikTok’s background and earnings than ever before. TikTok has an estimated worth of anywhere from $20 billion to $100 billion in 2024, according to the Wall Street Journal , making it the biggest social media app on the market by a wide margin. Given that TikTok is worth such a staggering amount, it only seems fair that we examine and investigate the source of this income. The app has seen over 3 billion downloads since hitting the international market in 2018, and maintains an estimated 1 billion daily active users, meaning TikTok has access to one of the largest audiences in the history of web development....