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Mellody Hobson's Ariel Alternatives Buys Majority Stake In Multicultural Media And Advertising Company My Code

There are new strides being taken by Ariel Investments co-founders Mellody Hobson and John W. Rogers Jr.

Samantha Dorisca

Dec 5, 2023

Daymond John's Mom Took Out A Loan To Invest In Him — Now He's Helping Other Black Entrepreneurs Gain Access To Funding

Entrepreneurship is a long, arduous journey that’s rarely linear. And, for Black entrepreneurs the process can be even harder. It’s no secret that minorities and female founders often struggle to secure capital when compared to white male founders. Even attracting as much visibility in mainstream media as other businesses — including social media growth — can be harder. Plus, not having a network of fellow entrepreneurs who understand the challenges can make the entire experience lonely. Daymond John, a serial entrepreneur, understands this process all too well. From his days launching the iconic streetwear apparel brand FUBU to parlaying his business acumen into the investor niche, John learned from his growing pains. Now, he wants to help other Black-owned businesses navigate those issues. From Hollis, Queens, To The Tank Today, John is a household name, thanks to his tenure on the ABC’s “Shark Tank.” But many people are familiar with him from FUBU, a streetwear brand he started...

Rick Ross' Cattle Ownership Might Be Grounds For A Serious Tax Exemption — Here's How

Rick Ross has not been dubbed the biggest boss by playing it safe. Take, for example, his latest agricultural endeavors, which include the purchase of a cow, a lion, and a lioness, as well as two buffalos — gifted by clothing and underwear brand Ethika — TMZ reports. “We are gifting Ross these Buffalo after a conversation at his birthday party back in January. I wanted to get him a giraffe but he wasn’t ready for that commitment so he said let’s start smaller, like a cow. I said ‘Nah, everyone has cows, I want you to have something nobody in your state has, I’m getting you a Buffalo,’” Darius Burton, director of brand operations at Ethika, told TMZ.  

Shanique Yates

Jul 21, 2022

In 2030, Allen Iverson Will Reportedly Land A $32M Payday Thanks To His Lifetime Deal With Reebok

The phrase “greatest of all time” is used loosely. However, when it comes to Allen Iverson, his name is synonymous with GOAT — period. Iverson has achieved great feats within the NBA, including consistently leading his teams to the playoffs and even a stint in the finals, but as a person, he has continued to defy all odds, remain humble, and most importantly, show love where it’s due. As previously reported by AfroTech, there was once a time when Allen Iverson blew through $200 million, yet he still landed on his feet. Today, Allen Iverson reportedly has a $1 million net worth, according to Celebrity Net Worth. Plus, he’s about to reap the rewards of a lifetime deal with Reebok. In most instances, people may dread the thought of growing older, but in this case, the next few birthdays for Iverson will lead him to a huge payday. On his 55th birthday, the Newport News, Virginia native will receive $32 million, thanks to a lifetime deal he has with Reebok, FadeAwaySports reports. Let’s...

Shanique Yates

Jul 14, 2022

Dega Nalayeh Migrated To Canada At Age 11 — Now, At Age 49, She's Amassed A $6.4B Book Of High-Profile Banking Clients

Sometimes, all it takes is one dream to change a person’s life forever. Somalian refugee-turned-banker to the wealthy elite, Dega Nalayeh, created the blueprint for her success early on in life. After migrating to Canada with her family at the age of 11, Nalayeh had to overcome a few feats including adapting to the country’s cold weather and learning English. As the daughter of a former Somali politician, she knew the power of decision-making and would soon develop a love for math and science, mainly because of her school’s lack of ESL courses. While she managed to find a balance between staying on top of her school work and working a newspaper route to help support the family, Nalayeh had no idea what she wanted to be once she grew up, but she did have hard-working supportive parents. “My parents made it exciting, that I was a girl with this freedom in a country where i was safe and had choices,” said the 49-year-old in an interview with Insider. It wasn’t long before she used her...

Shanique Yates

Jul 8, 2022

'One Of The Craziest Deals' Snoop Dogg Has Ever Turned Down Involves $2M And Michael Jordan

Snoop Dogg’s money has been on his mind since “Gin and Juice,” but at this moment, it may not have been the case.  

Samantha Dorisca

May 26, 2022

Tiffany Haddish Shares Productivity Hack, Which May Lead To Her Next Goal: 'My Big Goal Is To Open An Amusement Park'

Tiffany Haddish consistently tells the people, “She ready.” From journaling to stretching and all kinds of personal productivity hacks, Haddish gave the world some in-depth details of how the comedian readies herself daily.

Josh Rodgers

May 24, 2022

Snoop Dogg Purchases Minority Ownership Stake In Team A Part Of Ice Cube's BIG3 Basketball League

Snoop Dogg has purchased a minority stake in Bivouac, a team a part of Ice Cube’s BIG3 basketball league. According to a press release, Snoop Dogg joined venture capitalist and co-founder of PayPal Ken Howery to buy 25 Fire-Tier editions of Bivouac. While Snoop Dogg can officially celebrate becoming a team owner, he hinted at it in a video clip posted in late April by Ice Cube on Twitter. Snoop is buying 2 teams in the BIG3. Better get in where you fit in and join the BIG3 Ownership Discord. 🏀🏀🏀 — Ice Cube (@icecube) April 23, 2022

Samantha Dorisca

May 9, 2022

Meek Mill Asks Elon Musk To Share The Wealth Of Twitter — 'Let Us Invest In Twitter With You 'Big Homie''

Meek Mill is putting a whole new spin on one of his most iconic opening lyrics, “I use to pray for times like this….” Recently, the Philly native tweeted his desire to get a piece of Twitter. Meek used the social media platform to make a proposition to Elon Musk about being an investor in the company once the massive acquisition is officially complete. “Elon musk let us invest in Twitter with you ‘big homie’,” Meek tweeted to Musk. Elon musk let us invest in Twitter with you “big homie” — MeekMill.nft (@MeekMill) May 5, 2022

Josh Rodgers

May 6, 2022

Magic Johnson Joins Group Bidding To Purchase The Denver Broncos

Magic Johnson aims to expand his ownership across the sports world. The former Showtime Laker has reportedly joined the group bidding to acquire the NFL’s Denver Broncos. Never one to shy away from sports (even if it isn’t the game of basketball), Johnson will join forces with Philadelphia 76ers co-owner Josh Harris in an attempt to become owners of the team, per reports from Sportico. The team was officially put on the market by the Bowlen family earlier in the offseason. They served as owners of the Broncos for 38 years. “Selling an NFL team is a complex process involving numerous parties and league approval procedures,” said Broncos president and CEO Joe Ellis in an earlier statement during this offseason. “Nonetheless, the trustees hope to have the sale completed by the start of the 2022 NFL season. The Broncos are a special franchise that is part of the fabric of this region, and whoever emerges as the new owner will certainly understand what the team means to our great fans...

Shanique Yates

May 6, 2022

Did Dr. Dre Leak His Beats By Dre Deal With Apple And Cost Himself $200M?

In 2014, Apple obtained the rights to Beats Music and Beats Electronics, founded by Hip-Hop royalty Dr. Dre. His excitement about the news, however, allegedly led to changes in the deal. Eager to celebrate his wins, the former N.W.A member created a video where he dubbed himself “the first billionaire in Hip-Hop.” Now, alleged details have surfaced claiming that the celebratory statement cost the mogul $200 million out of the deal.  

Shanique Yates

May 6, 2022

This CEO Says He Sold His Company And Made The Employees Millionaires — 'We’re Minting Over 25 Millionaires'

When looking for a job, one of the critical things prospective employees consider is the benefits. Beyond healthcare, people hold stock options and spending accounts in high regard when choosing employment. Take, for example, the folks at Global Data Consortium.

Josh Rodgers

May 4, 2022

HUNGRY, The Startup Backed By Kevin Hart And Jay-Z, Has Just Made A New Acquisition

When you’ve got Kevin Hart and Jay-Z on board, the only direction to go is up. At least that’s the case for HUNGRY, a technology-enabled food catering and delivery platform that provides healthy snacks to corporate employees. Forbes reports the subscription-based service — founded by Eman Pahlavani, Shy Pahlevani, and Jeff Grass in 2017 — has now acquired NatureBox.

Josh Rodgers

May 3, 2022