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At a time when many billionaires were expanding their empires or chasing vanity projects, Bill Gates was choosing a different path. According to Fortune, the Gates Foundation, one of the most influential philanthropic institutions in modern history, has announced a final, ambitious chapter: a $200 billion commitment over the next 20 years to tackle some of humanity’s most pressing problems, after which the foundation will close its doors permanently. This is not a rebranding effort or a gradual fade into the background. It is a strategic decision to concentrate every remaining resource for maximum global impact. With this move, Gates places a historic bet on humanity’s ability to collaborate, innovate, and confront inequality head-on. Gates Foundation Sets 2045 As Its Final Year Gates is donating nearly all of his remaining personal wealth—an estimated $100 billion—to the Gates Foundation, effectively doubling its resources. The foundation will now operate with a projected total of...
Connecticut will not be bowing to Trump’s orders regarding diversity, equity, and inclusion (DEI) in education. As AFROTECH™ previously reported, on Feb. 14, the Trump Administration imposed a strict two-week timeline for schools and universities to comply with his orders around DEI such as no longer allowing “racial preferences” to be considered in admissions, financial aid, or hiring. “Educational institutions may neither separate nor segregate students based on race, nor distribute benefits or burdens based on race,” the memo read. Failure to comply could risk the loss of federal funding, particularly around Title 1 funding, which supports underserved families. Harvard University is currently under a $2.3 billion federal freeze for pushing back. “The university will not surrender its independence or relinquish its constitutional rights. Neither Harvard nor any other private university can allow itself to be taken over by the federal government,” a letter penned from the Ivy...
Twin brothers and co-founders Oliver and Alexander Kent-Braham are now behind a multi-billion-dollar company alongside David Goaté. As AFROTECH™ previously told you, the siblings founded U.K. -based digital car insurance startup Marshmallow to combat “unfair insurance prices” for migrants. “We now help 100,000s of UK newcomers get a fairer deal on their car insurance every year. We do this by building our own technology, developing pricing and fraud models that let us cater to their unique experiences, and investing time in getting to know them on a deeper level,” a statement on the company’s website reads. View this post on Instagram A post shared by Marshmallow (@getmarshmallow) According to TechCrunch, Marshmallow made history in 2021 as one of two Black-founded startups in the U.K. to reach a $1 billion valuation. As AFROTECH™ previously reported, the company raised $85 million in a Series B funding round with investors that included Passion Capital, Monzo, Investec, and...
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...
Business self-help books are essential to those who are looking to succeed in their chosen career paths. Learning from others who have already paved the way might open up new trains of thought and ways of thinking that could shake the foundation of how you run your business. Robert Greene’s The 48 Laws of Power is a must-read for entrepreneurs looking to master strategy, influence, and leadership. If you found it insightful, here are other books—including works by Black authors—that explore power, persuasion, and success in business. The Art Of War By Sun Tzu Goodreads Rating: 4.0/5 It might seem an odd recommendation for books like The 48 Laws of Power, especially for business purposes, but The Art of War offers surprising insights that can be useful in business and entrepreneurship. A classic on strategy and competition, The Art of War offers lessons on preparation, adaptability, and psychological advantage. Entrepreneurs can apply its teachings to negotiations, business...
Inflation impacts everyone and everything, and college tuition is no exception. For years, students and parents have often complained about the rising tuition costs and associated fees. These costs have prevented many students from pursuing their academic journeys because financial aid hasn’t been measuring up. According to College Board, the average tuition and fees for the 2023-2024 academic year are $11,260 for in-state students at public four-year institutions and go all they up to $41,540 for private nonprofit four-year institutions. In the words of Gen Z, these numbers are crazy work. They don’t even account for room and board, books, or other living expenses. While the rising costs of college tuition can be daunting, it’s important to remember that there are specific strategies and financial options that can help alleviate this burden. With that said, understanding and securing student aid can make higher education more accessible and affordable. This guide is designed to...
Oprah Winfrey has always had viewers glued to their screens, starting with her career as the talk-show queen decades ago. Winfrey’s talk show ran for an astounding 25 seasons (ending only at her request), achieving 47 Daytime Emmys and creating many memorable talks (it is hard to overlook Tom Cruise curled up on the couch). Oprah Winfrey is a household name synonymous with success. She has a TV network, publishes a magazine that is now exclusively digital and has a profound impact on popular culture with her selections for Book Club and Favorite Things. She also earned all of her wealth on her own, remaining relevant over decades thanks to her acting career, charitable endeavors, and astute business decisions. However, to discover how Oprah amassed her wealth and the answer to the question, “How did Oprah get rich,” we must dive into the multifaceted world of Oprah’s financial journey. We’ll explore her rise from local talk show host to national phenomenon, the shrewd business...
Failure was never an option for filmmaker Tyler Perry. In conversation with Soledad O’Brien during a fireside chat hosted by QuickBooks and Mailchimp, Perry emphasized the importance of not frowning upon small beginnings. In his early days as a hungry creative in Atlanta, GA, he was homeless and living in his car, as AFROTECH mentioned previously. However, Perry never lost faith, and he credits hope as his constant driver toward success. “What I would say to anyone if it is your dream and it is your hope, it is that thing that you wake up with, and you go to bed with it, and you can’t shake it no matter what, that’s something that’s bigger than you… I was homeless,” Perry explained to O’Brien. He continued, “My mother said, ‘Leave them plays alone’…You ain’t never going make it.’ And this woman loved me with all of her heart, but she knew how difficult it was for me. But if it is your dream and that thing wakes you up and keeps reminding you, do not stop, don’t stop. I’m sitting...
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...
Rihanna is now the richest Black female musician — and the second-richest Black female entertainer — in the world. That’s thanks to her appearance on the Forbes Billionaire list for the first time. According to the outlet, Rihanna has an estimated net worth of $1.7 billion. The Savage X Fenty founder — who, according to CNBC, derived the vast majority of her wealth from her non-musical career — is not only the world’s wealthiest Black female musician but the world’s wealthiest female musician. She is also the second-richest Black female entertainer in the world ( Oprah Winfrey, with an estimated net worth of $2.7 billion, surpasses the woman born Robyn Fenty in Barbados). CNBC also reports that her beloved beauty brand has achieved unicorn status — that is, has a valuation of more than a billion dollars — which will only further add to her net worth in the future. “Fenty Beauty — which comes from the singer’s last name — is currently valued at about $2.8 billion, and was founded in...
Not many people have had the impact of Black musical legend and producer Quincy Jones. With a legendary career spanning more than six decades — and who was responsible for hits from legendary musical acts from Michael Jackson to Frank Sinatra — he has been nominated for seven Academy Awards. According to CNN, Quincy Jones has also received 80 Grammy nominations, with 28 wins, and a Grammy Legend Award win in 1992. It’s no surprise that with all these accolades, Jones has achieved a massive net worth of $500 million, according to Celebrity Net Worth. But that’s the least he deserves, frankly. Not bad for a former jazz musician! But more than just his musical and production accomplishments, Quincy Jones has a legacy that will last a lifetime. His seven children are his pride and joy — and they’ve almost all gone into the business themselves. In fact, though, their careers are so respectable that they stand apart from their legendary father, while also honoring his legacy. Let’s take a...
Of the 18 richest people in Africa, only five of them are Black. That’s right: on the continent of Africa, 72 percent of the richest people are either white or of other non-Black descent. That’s according to the latest list compiled by Forbes, which revealed that more African billionaires are Afrikaners (descendants from the Dutch, French, and German colonialists in South Africa) than any other African subgroup. And this shouldn’t be surprising, considering how the after-effects of colonial times are still being felt today. In 2015, data released by New World Wealth (via BusinessTech of South Africa) revealed that there was an inequitable transfer of wealth to so-called “marginalized groups,” which includes groups of Black Africans that didn’t even have rights in the country prior to 1994 on account of apartheid. While these statistics about the richest people in Africa are distressing, it’s still better than the statistics regarding the number of Black billionaires in America. As...
Life is all about those money moves, or whatever rapper Cardi B said. On the latest episode of Black Tech Green Money (BTGM), tech-savvy businesswoman and host of “Money Moves,” Tanya Sam dropped by with a few gems on how to determine whether or not you’re making the right moves in regards to getting those coins! During her hit show “Money Moves,” Sam chats with everyday people and celebrities about the ways in which they are building generational wealth. She dives into how oftentimes people may have the access and profile to make the big bucks but don’t see the financial reward. “I think I can say this with some anecdotal evidence and confidence — a lot of it is the people you have around you,” she tells BTGM host Will Lucas. “Not having trusted financial advisors, people who really know their stuff. If you don’t know about money and you don’t know how to make the correct moves, you have to find people that you really trust that are experienced.” She further explains how to build a...