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House Republicans have introduced a new Medicaid bill aimed at cutting federal healthcare spending without dismantling the program. What’s Inside The GOP Medicaid Bill? According to the Associated Press, the House Energy and Commerce Committee introduced the Medicaid bill as a central piece of the Republican plan to secure $1.5 trillion in savings. Much of the savings would go toward extending the 2017 Trump-era $4.5 trillion tax cuts, which are scheduled to expire at the end of 2025. To help reach that target, the committee proposed $880 billion in cuts, most of which come from changes to Medicaid and the Affordable Care Act (ACA). It is important to note that the Affordable Care Act, signed into law by former President Barack Obama in 2010, was a landmark healthcare reform aimed at expanding coverage, reducing costs, and improving care delivery. Though it significantly increased access through subsidies and Medicaid expansion, many Republicans have long opposed the law, using it...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Billionaire business leaders turned against President Donald Trump as he implemented sweeping tariffs with other countries, which have amounted to billions of dollars lost. Many of the billionaires who have pushed back against the Trump tariffs have also endorsed him for the 2024 presidential election. One of those billionaires, Bill Ackman, warned against tariffs, likening them to an “economic nuclear war” in a post on X (formerly known as Twitter). He also claimed that the tariffs weren’t what he voted for, despite Trump speaking on tariffs early on in the election. How Will Tariffs Affect The American Consumer? Unwarranted tariffs will not only decimate our economy but also hurt our already fragile standing on the world stage. In retaliation, China has raised tariffs on American goods to 125%. Most business leaders, economic experts, and other world leaders are confused over Trump’s misguided...
Black wealth, especially at the billionaire level, remains a statistical anomaly in global finance. But in 2025, that narrative continues to shift — if only incrementally. According to Forbes, out of 3,028 billionaires worldwide, only 23 are Black, representing less than 1% of the list. Despite this underrepresentation, these 23 individuals collectively hold an impressive $96.2 billion in wealth. The figures tell one story. The names behind them tell another story — one of legacy, innovation, cultural power, and long-game strategy. This year, two notable newcomers joined the global roster of Black billionaires: Sheila Johnson, the media and hospitality powerhouse, and Herriot Tabuteau, a biotech founder with a focus on brain health. Both represent not only financial achievement but industry-specific influence in spaces where Black leadership is often overlooked or underestimated. Who’s New To The 2025 Black Billionaires List? Sheila Johnson, widely known as the co-founder of Black...
Tyler Perry has provided great financial relief for 85-year-old Anniece Tisdale. According to WSMV-4, Tisdale hired an unlicensed contractor to renovate her East Nashville, TN, home to accommodate her disability and growing family. However, the project took a turn for the worse when the contractor abandoned it altogether after not meeting completion expectations. Tisdale was then left with a home unsafe to live in and thousands of dollars lost. After an interview with the local news station, Tisdale was asked by Sherri Shepherd to appear on her “Sherri” talk show, and was joined by her daughter, Yolanda, who revealed that at least $180,000 had been invested into the home renovation project. Yolanda and her husband both took out personal loans and pooled from savings and credit cards to gather the funds. Yolanda also helped to refinance her mom’s mortgage to pay for the $200,000 in renovations. “We signed the contract in January. We were supposed to be f inished March 31. It was a...
Billionaires have long found ways to minimize their tax burdens, using loopholes and financial strategies that allow them to pay far less percentage-wise than everyday Americans. While many assume the ultra-wealthy contribute significantly to the nation’s tax revenue, the reality is that their effective tax rates — what they pay relative to their total wealth — are far lower than those of middle-class and working-class individuals. Their methods to shield their fortunes are legal, yet they contribute to widening economic inequality and an ever-growing fiscal deficit. The disparity between billionaire and working-class tax rates was highlighted in a live chat hosted by The Washington Post. Journalist Jeff Stein responded to a user asking about billionaires paying their fair share in taxes. He pointed out that while billionaires pay large sums in taxes, their effective tax rate remains much lower than that of the average American. He explained that one key reason is the ability of...
Junior Bridgeman has passed away at 71 years old, leaving behind a lasting legacy. The former NBA Milwaukee Bucks player who became a prominent businessman died on March 11, 2025, following a medical emergency. He had collapsed during a luncheon at the Galt House Hotel in Louisville, KY, for the Lincoln Heritage Council of the Boy Scouts of America, according to WDRB. His exact cause of death has not been confirmed, but various Louisville television stations reported that he was seen holding his chest at a point during the event, per ESPN. “We express our heartfelt condolences to Junior’s wife, Doris, their children, Eden, Justin and Ryan, the Bucks organization, and his many friends and admirers in the basketball community,” NBA Commissioner Adam Silver said in a statement, notes ESPN. Bridgeman was a well respected figure for his accomplishments on and off the court. In fact, his jersey was retired at Fiserv Forum, the Milwaukee Bucks’ home arena in Wisconsin, in 1988 to honor his...
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...
Snoop Dogg is going where the money is. Snoop Dogg, who acquired Death Row Records in 2022, shared the low payout he received from streaming. After receiving 1 billion streams on Spotify, he recalls being compensated only $45,000, as AFROTECH™ previously told you. “In the streaming world, I can show you right now. They just sent me some sh-t from Spotify, where I got a billion streams, right? My publisher hit me. I said, ‘Break that down, how much money is that?’ That sh-t wasn’t even $45,000… You see what I’m saying? So it’s like…when this sh-t came out, I could tell an artist that same song that you put out traditionally that didn’t make no money, give it to me. Every time you sell it if somebody else sells it you get 10% of it,” Snoop said on the “Business Untitled” podcast. However, in response, a Spotify spokesperson said: “We can’t speak to endorsement deals for Web3 companies but…$45,000 for a billion streams? It’s well documented that a billion streams on Spotify generates...
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...
GloRilla once admitted that she plans to become a billionaire and continues to progress towards this milestone. The Memphis-born rapper has remained the talk of the town, lighting up the charts through hit singles that include “TGIF” and “WHATCHU KNO ABOUT ME” and what started it all, “F.N.F.” released in 2022. “It mean a lot to be able to be a a voice for my city,” she said during an interview with AFROTECH™. Before the artist’s journey kicked into gear, she worked overtime to make her dreams a reality. Working at jobs such as Nike and FedEx with little to no energy, she remained optimistic the grind would pay off, and it has. “I was doing 12 hours at Nike and maybe seven to eight hours at FedEx. And I was just doing all that to sponsor my rapid career so I could be able to pay for videos and studio time,” she explained. In 2022, GloRilla signed to Yo Gotti’s label Collective Music Group. He has remained a constant supporter in her journey as an artist and in business. As AFROTECH™...
Vince Carter says he leaned on fellow NBA player Grant Hill when he was pursuing team ownership. As AFROTECH™ previously told you, Hill is the owner of several teams. He has a minority stake in the Atlanta Hawks (NBA), Orlando City (Soccer Club), Orlando Pride ( National Women’s Soccer League) , and Baltimore Orioles ( MLB) . Therefore, when it came time for Carter to act on his desire for team ownership, Hill was top of mind. “Grant’s been in a situation where he’s a good friend for a long time and right there in Atlanta (GA). So, my neighbor, ” Carter told Front Office Sports. “He was, in that entire process, somebody that I leaned on, that we talked to because he’s good friends with T-Mac (Tracy McGrady) as well. So we talked to him from the beginning of this process on what we were looking for, what they were looking for, how to go about it and just kind of just listening. He’s like that big brother that I’ve been through a lot with. What better guy than him to ask?” In December...
If you’ve been following the stock market in recent days you may already be familiar with SoftBank, a multinational internet services and investment firm operating out of Japan. The business has received a ton of press since Monday morning after CEO Masayoshi Son announced a proposed $100 billion in investments over the next four calendar years. This plan, which was developed in collaboration with the incoming Trump administration , is projected to create 100,000 new jobs within the United States, particularly in artificial intelligence and similar internet-based infrastructure. Per the Wall Street Journal , SoftBank’s stock (SFTBY) received a massive bump in the day following the announcement, accounting for a 4.4 percent rise in the Japanese market and a 1.3 percent rise on the New York Stock Exchange . To better understand exactly what this means for our country, infrastructure and the stock market of today, we’ll have to take a moment to examine SoftBank’s business model and...
Former NBA teammates and Hall of Famers Tracy McGrady and Vinca Carter have invested in the Buffalo Bill’s organization, which is currently valued at $4.2 billion, per Forbes. According to a post shared on the team’s official Instagram account, the Bills announced 10 limited partners to join the franchise, marking the first time the team has added limited partners. According to ABC News, the group was approved on Dec. 11, 2024, by owners Terry and Kim Pegula, who purchased the team for $1.4 billion in 2014 and will retain a 79% stake. The Buffalo Bills’ ownership group now includes three former Black professional athletes: McGrady, Carter, and former U.S. Men’s National Team soccer player Jozy Altidore. View this post on Instagram A post shared by Buffalo Bills (@buffalobills) Check out the breakdown below. McGrady McGrady is no stranger to the world of business. After retiring from the league in 2013 with $130 million in career earnings, he expanded his portfolio into real estate,...
Sony Music had a successful quarter, reportedly driven by the success of popular artists like SZA. The St. Louis, MO-born artist is still basking in the success of her sophomore album “SOS,” which was released on Dec. 9, 2022. Billboard reports the album claimed the No. 1 spot on the Billboard 200 chart when it debuted, selling 318,000 equivalent album units and setting a record for the best streaming week for an R&B album. Hit singles on the album included “Kill Bill” and “Snooze.” Speaking to the album’s inspiration, SZA told Rolling Stone, “I think this album was partially inspired by love lost, but mostly inspired by my departure from attempting to be a nice girl. I’ve tried to be a nice girl for so long and it’s just not who I am, inherently. And I think I’ve done nice things and I am a kind person, but I’m not a nice girl. And that’s okay. And I think coming to terms with that and really expanding upon that and exploring that is kind of like this new chapter in my life.” “SOS”...
Ray Davis, a running back for the Buffalo Bills , is known for his talent on the football field and his rising career in the NFL. Throughout his first season, the 26-year-old has been a consistent standout, quickly winning over Bills fans with his stamina and drive. After being drafted by the team, Davis signed a rookie contract that provided him with both a $795K base salary for the year and a hefty $713K signing bonus. NFL rookie contracts, especially for players taken in the mid to later rounds, tend to offer initial earnings in the low to mid millions over the course of several years, and the 25-year-old is no exception. With performance incentives and future contract renegotiations, Davis has the potential to increase his earnings significantly as his career progresses. Running backs who prove themselves on the field often see lucrative second contracts, which can push their net worth into higher figures. All About Buffalo Bills Rookie Ray Davis (Timothy T Ludwig/Getty Images)...