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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...
The U.S. job market is sending mixed messages — and workers are caught in the middle. On one hand, employers are adding jobs at a pace that suggests economic growth. On the other hand, unemployment is rising and confidence in long-term stability is shrinking. It’s a win-loss moment for the American workforce: The numbers are up, but the foundation feels shaky. According to CNN, the U.S. economy added 228,000 jobs in March, beating expectations and extending a 51-month streak of job growth — one of the longest in U.S. history. Yet, in the same report, the unemployment rate ticked up to 4.2%, indicating that while more people are entering the labor force, not everyone is finding a place in it. The Strengths And Limits Of The Job Market March’s numbers were encouraging in many ways. Job creation exceeded expectations, and average wages rose 0.3% for the month, slowing to a 3.8% year-over-year increase. Economists had predicted slower growth — around 130,000 new jobs — but the market...
Costco’s consumer base is on the rise. According to Retail Brew, the retailer has continued seeing an increase in its foot traffic, having reached its 13th consecutive week during the week of March 17. Costco’s influx of customers is in part due to its decision to uphold diversity, equity, and inclusion (DEI). It sparked a “buy in” led by Civil Rights activist Rev. Al Sharpton in January 2025 at Costco Wholesale, 1055 Hudson St., in Union, NJ. “We are planning to release a boycott list in the coming days,” Sharpton told TMZ at the time. “But in the interim, we are going to do a ‘buy-cott,’ which means we are going to support those who support diversity.” As AFROTECH™ previously told you, Costco’s board of directors requested for its shareholders to vote against a proposal from the National Center for Public Policy Research (NCPPR) that would dismantle its DEI programs. “Our success at Costco Wholesale has been built on service to our critical stakeholders: employees, members, and...
50 Cent has secured a 30-year lease on a local venue to further his goal of revitalizing Shreveport, LA. As AFROTECH™ previously told you, through G-Unit Studios, he has the second-largest Black-owned studio, only trailing Tyler Perry. The 985,000-square-foot property in Shreveport is being used “to operate a production studio and/or activities and uses related to the promotion or development of the film, sound, light, movie, television, broadcasting, recording, and arts industries.” “Founding my own studio is the next step in my plan to expand G-Unit Film & Television’s output of premium, diverse content across all media and to provide more opportunities for artists, crew members, and the communities that support production of that content,” 50 Cent told KTAL News 6 at the time. Beyond the studio grounds, 50 Cent has been expanding his efforts across the city. In September 2024, a three-phase plan was announced that will include housing for low- to moderate-income families. Most...
The rhythm of ambition often starts quietly—a hum of potential that builds into a bold symphony. For IntusCare, the journey began in the halls of Brown University, where co-founders Evan Jackson and Robbie Felton turned their vision for eldercare into reality, with Stevie Wonder’s song “Sir Duke,” setting the tone for their path forward. Much like a timeless Stevie Wonder groove that lingers long after the music fades, IntusCare’s journey from pitch competitions to industry innovation has been driven by harmony, persistence, and an unwavering belief in its mission. Rooted In Mission: A Personal Commitment To Equitable Care Founded five years ago, IntusCare set out to disrupt the healthcare status quo and deliver high-quality care to low-income older adults — a population often left behind by systemic inequities. Their mission is deeply anchored in serving diverse, marginalized communities, including Black, Latino, and Asian American populations, who have historically faced...
The number of Black-owned businesses has increased. However, there is still much room for improvement. According to a research study released by the online loan marketplace LendingTree, the data reveals a 22.2% year-over-year increase since 2019. Looking back to 2022, just 3.3% of businesses were Black-owned , and 40% were women-owned. Other trends highlighted in the report show that Atlanta, GA, remains the primary hub for Black-owned businesses. The city has held this distinction for the past three years, with 11.3% of Black-owned businesses traced back to it. Other key cities identified in the report include Fayetteville, NC, Virginia Beach, VA, and Memphis, TN. Conversely, California cities such as San Jose, Oxnard, and San Diego ranked lowest in the number of Black-owned businesses. “When I initially started my entrepreneur journey, there weren’t very many Black founders,” Tiffany Ricks, chief executive of the cybersecurity platform HacWarhe, told Inc. “Now it’s exciting...
The Grammy Awards marked a major moment for Beyoncé — and her Spotify streams. After taking home the Album of the Year award for the first time on Sunday, Feb. 2, 2025 — following four previous nominations without a win — the singer’s eighth studio album “Cowboy Carter” saw a 795% increase in streaming on Spotify compared to the previous day, according to Variety. Tracks such as “My Rose” and “Oh Louisiana” experienced a 175% increase, while “Ameriican Requiem” rose by 170%. “Protector” increased by 150%, “Alligator Tears” by 140%, and “II Most Wanted” by 135%. “I just feel very full and very honored. It’s been many, many years,” Beyoncé said during her Grammy acceptance speech. “I just want to thank the Grammys, every songwriter, every collaborator, every producer, for all of the hard work.” Beyoncé’s Album of the Year win made her the first Black woman to win since Lauryn Hill for “The Miseducation of Lauryn Hill” in 1999. The Houston, TX, native also won the Best Country Album...
Fayetteville, GA, shoppers can support various businesses at a new Black-owned shopping plaza. As AFROTECH™ previously reported, Kingdom Corners is the brainchild of married couple Felicia and Winchel Elibert. The duo had previously ventured into entrepreneurship, owning a range of businesses, including a Smoothie King franchise, multiple Winchell’s Barbershops, and a location of Felicia’s Cleansing Waters Wellness Center. “Right across from our Smoothie King and Cleansing Waters location in Fayetteville, there was a sign that said land for sale,” Felicia told 95.5 WSB. “We made a phone call to ask about the land, which was at a good price. We checked with our realtor and were encouraged that this was a really good investment.” The four-acre plaza took three to four years to complete. When it was completed, it made history in the city as the first Black-owned shopping plaza. “We have been getting phone calls, texts, and folks stopping by—just to say what an inspiration we are in the...
Meta has released an alternative to CapCut. The popular video-editing app was temporarily shut down the night of Saturday, Jan. 18, 2025, following a TikTok ban. As AFROTECH™ previously reported TikTok’s parent company, ByteDance, had been mandated to sell its app to a company based in the United States or it would be banned. The U.S. had concerns over the spreading of misinformation and China’s possible access to user data . ByteDance has maintained a stance that it will not sell TikTok, and hours before the ban was to become active, several of its apps were removed from the Apple App Store and Google Play Store. The ban officially went into effect on Jan. 19 and impacted ByteDance’s subsidiaries such as TikTok, Lemon8, Marvel Snap, Lark, Hypic, and CapCut, USA Today notes. Apple shared in a statement on its website: “Pursuant to the Protecting Americans from Foreign Adversary Controlled Applications Act, apps developed by ByteDance Ltd . and its subsidiaries — including TikTok,...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Since the release of ChatGPT two years ago, everyone has been talking about how artificial intelligence would change the world. Whether it was getting any answer you needed at the drop of a hat or creating any image or video you wanted just by describing it, the hours and money that would have gone into either are no longer an issue because AI does all the work on your behalf. When techies discuss the work AI could help someone do, they always focus on those in white-collar jobs, assisting them in searching or summarizing vast amounts of unstructured data to provide the insights they need or the creations they want. That may explain why many AI companies target the same use cases and markets. However, I believe the power of AI doesn’t just lie in reimagining how we experience our digital and physical worlds. After the pandemic, a term was coined : “ revenge spending” — essentially, people getting...
24-year-old actress Yara Shahidi felt protected when she entered the entertainment industry. At just 6 weeks old, she landed a photo shoot gig for a life insurance company, and by 6 years old, she had her first movie audition. In an interview with SoFi, led by Vivian Tu of Your Rich BFF, the actress reflected on her experience, noting that she was able to enjoy acting as a craft rather than as a means to support her family — a privilege she acknowledges isn’t always afforded to child stars. “My parents were able to set it up so that we had either family members or people that were helping us that were on set with another brother that were looking after me where they were able to dip out and do things for themselves,” she told SoFi. “So it was under that environment where I was able to have a fulfilling career at a young age and even be in my 20s, and say I’m happy I started that young. But it was so particular to being under those set of circumstances, which allowed me to enjoy...
Increase Divine-Wisdom has been crowned the grand prize winner of the 2024 AFROTECH™ AI Hackathon. And he went great lengths to secure the “W.” Increase Divine-Wisdom traveled all the way from Nigeria to attend AFROTECH™ Conference, held in Houston, TX, where the winner was named. AFROTECH™ hosted innovators on Day 2 who collaborated on solutions for community impact, leaving with the tools to drive change in their industries and communities. Increase Divine-Wisdom took first place with his user-friendly health management app “designed for people dealing with chronic conditions.” The winner, who himself has chronic inflammatory response syndrome, shared that with the app, individuals are able to track symptoms, mood, and recovery tasks. Increase Divine-Wisdom has expertise in DevOps, CI/CD, machine learning, artificial intelligence (AI), and mobile development. According to his LinkedIn profile, he oversees projects from concept to delivery, utilizing the necessary tools to create...
Social Security deductions are one of those topics that don’t really come up until two things happen: 1) our loved ones reach the retirement age where they can apply for benefits, or 2) we grumble about the chunk of money taken out of our (bi)weekly paychecks. With a presidential election happening now, the topic of Social Security and Supplemental Security Income (SSI) has come up more often than not. Specifically, Millennials and Gen Zers are being told that only 75% of the benefits will be covered by 2035, and younger voters want to know how either candidate plans to fix this. For those who are already receiving these benefits, there’s a new discussion on the table: the 2025 Social Security COLA increase. SSI benefits for more than 72.5 million Americans will increase 2.5% next year. The cost-of-living adjustment (COLA) increase will cover benefits payable to nearly 68 million SSI beneficiaries in January 2025. Additionally, increased payments to nearly 7.5 million SSI recipients...
The first patient to receive gene therapy for sickle cell disease since its approval is finally home. The New York Times reported that staff members were overjoyed as 12-year-old Kendric Cromer left Children’s National Hospital in Washington, DC, in a wheelchair on Oct. 16, 2024. Kendric is one of approximately 20,000 people with the most severe form of sickle cell disease. This condition results from a mutation in the hemoglobin genes, causing red blood cells to take on a crescent shape. These misshaped cells can block blood vessels, leading to severe pain, stroke, organ damage, and reduced life expectancy. “I thought I would have sickle cell for the rest of my life,” Kendric said, according to The Times. Throughout his childhood, the disease had prevented him from enjoying playing basketball or riding a bike. Such activities would trigger pain and require frequent trips to the hospital. According to the Centers for Disease Control and Prevention , about 100,000 people in the U.S....
Timbaland is expanding his portfolio, stepping into the role of strategic advisor for Suno, a leading AI music creation tool. After months of actively using the platform, the four-time GRAMMY-Award-winning artist will now provide Suno with daily support for product development and strategic creative direction, as stated in a press release. The collaboration starts with an exclusive preview of Timbaland’s latest single, “Love Again.” There’s also a Remix Contest judged by Timbaland, with over $100,000 in prizes awarded to the winning remixes. Digital service providers will release the top two remixes. “When I heard what Suno was doing, I was immediately curious,” said Timbaland, who is well-known for his influence as a music producer, creator, entrepreneur, and philanthropist. “After witnessing the potential, I knew I had to be a part of it. By combining forces, we have a unique opportunity to make AI work for the artist community and not the other way around. We’re seizing that...