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A portion of Notorious B.I.G.’s estate will now be handled by Primary Wave. As AFROTECH™ previously told you, a deal rumored to be in the “eight figures” was in the works between Notorious B.I.G.’s estate and the music publisher and involved half his publishing and master rights, including his rights to name, image, voice, and “other identifiable characteristics.” Notorious B.I.G.’s estate had been primarily run by his mother, Voletta Wallace, who was instrumental in securing stake from Bad Boy Records. Christopher Wallace, otherwise known as Biggie Smalls or Notorious B.I.G., had been one of the first artists to sign to the label owned by Sean “Diddy” Combs. Bad Boy Records had 50% stake in his songwriting catalog, Variety mentions. Voletta was able to increase the estate’s stake to 85% after arguing it was doing the heavy lifting in securing deals to license and monetize Notorious B.I.G.’s music. She then secured the remaining 15% stake in 2020. “Securing control of my son’s...
Floyd Mayweather Jr. is making significant moves in the real estate sector. As previously reported by AFROTECH™, the boxing world champion has invested $402 million in an affordable housing project in New York, which includes over 60 buildings with more than 1,000 units “Growing up, I used to dream about owning just one home by myself, when you work hard you can achieve anything,” Mayweather told TMZ. Mayweather’s investments in real estate also include ownership of nine skyscrapers in New York through a partnership with SL Green. “‘You see that building right there? Yeah, we own that. You see this building? We own it.’ So we was walking and walking . Then he said, ‘You know, a boxer makes money when he’s boxing. A football player makes money when he’s playing football. A basketball player makes money when he’s playing basketball.’ He said, ‘But New York real estate, you make money when you sleep.’” On Monday, Nov. 18, 2024, Mayweather also invested in a $10 billion office portfolio...
Industry veteran Taye Diggs has come a long way in the entertainment industry. In an email interview with AFROTECH™, “The Best Man” actor reminisced on his early career, sharing how he spent his first paycheck as an actor. With three decades in the industry, his first role was “Carousel” in 1994, with his big break coming four years later in “How Stella Got Her Groove Back.” “I remember I bought a tailored suit from the then fashion icon, Barney’s. It took me a while to switch my mindset from so-called immediate needs and wants to having more of a ‘full picture’ perspective that takes the future into consideration,” he recalled. Portfolio He acknowledges that financial management is an ongoing learning journey. However, his strengthened understanding of long-term planning has paved the way for him to step confidently into investing. “I’ll be the first person to admit I’m still learning when it comes to managing money. I’m excited to extend my finances into the real estate space. It...
Floyd Mayweather has made a major move in real estate, investing $402 million to acquire over 60 buildings with more than 1,000 units in New York, NY, TMZ reports . “Growing up, I used to dream about owning just one home by myself, when you work hard you can achieve anything,” Mayweather shared with TMZ. According to The Real Deal, this investment is aimed at developing affordable housing for families in need. Other Real Estate Deals Mayweather’s real estate portfolio in New York doesn’t end there. As previously reported by AFROTECH™ , the boxer also owns nine skyscrapers in the area through a partnership with SL Green. “SL Green is a company I’ve worked with for many years, and Andrew Mathias—great business guy,” Mayweather said on the “Earn Your Leisure” podcast, referring to Mathias, president of SL Green Realty Corp. On a walk through the city with the businessman, Mayweather recalled him saying, “‘You see that building right there? …Yeah, we own that. You see this building? We...
Investing in real estate is a popular way to grow wealth, but knowing where to invest is crucial to maximizing your return on investment (ROI). In 2024, several states stand out as prime locations for real estate investments , offering high appreciation rates, growing demand, and favorable market conditions. Let’s explore the states with the highest ROI on real estate and what makes them attractive for investors. Texas Texas consistently ranks among the top states for real estate ROI due to its rapidly growing population and robust economy. Major cities like Austin, Dallas, Houston, and San Antonio have seen significant increases in property values over the past decade. Austin, in particular, has experienced rapid appreciation thanks to the tech industry boom and a strong influx of new residents. In addition to rising home prices, Texas offers low property taxes and no state income tax, which makes it even more appealing for both investors and homebuyers. The state’s economy remains...
Booker Washington is making homeownership more accessible for urban communities. He is the founder of Techie Homes, a real estate company that designs “smart micro-communities” in Atlanta, GA, priced below current market rates, according to its company website. “Accessible homeownership is an issue in Atlanta,” he told Business Insider. “Our goal is to provide homes at a price point where mortgages are equal to or less than the cost of renting a one-bedroom apartment.” While Washington subscribes to accessible homeownership, he makes it clear he does not want to label Techie Homes’ efforts as an affordable housing project. “We change the way we view environments, and if we change the way we view environments, we’ll change the actual person and how they grow,” Washington explained in a video clip . “That’s the reason why I don’t adopt to affordable housing projects, because if you put people of all the same incomes in the same place, they will only see what that other person’s low...
Marquise Brown doesn’t want to have any regrets when his NFL career comes to an end. The Kansas City Chiefs’ wide receiver has met with various retired NFL players, and it has served as a reminder of what he can do now to maximize his time in the league. Brown was drafted in 2019 by the Baltimore Ravens as a 25th pick in the first round, the NFL mentioned. He then played for the Arizona Cardinals and now is on the Kansas City Chiefs’ roster, signed to a one-year, $7 million contract, which includes a $3 million signing bonus and $6.5 million guaranteed, per Spotrac. He intends on leveraging his contracts to create a better life for himself, family, and other players in the league considering life beyond the field. “I got pulled aside by so many retired NFL legends talking to me about what they should have done differently, what they wish they did. With me being in the league, I don’t want to be a guy to do this when I’m done. I want to be a guy to do this now. Not just for my...
Kevin Burnett has transitioned from the football field to help families create wealth. Burnett, an Inglewood, CA native, was drafted in 2005 as a 42th draft pick in the second round to the Dallas Mavericks, according to ESPN. He was signed to a 4-year deal valued at $3.31 million with the team, which included a $1.15 million signing bonus and $1.15 million guaranteed, Spotrac notes. Burnett played for four teams throughout his career, ultimately retiring with the Oakland Raiders in 2014. He earned a total of $20.57 million. In retirement, Burnett took some time to water into his wife and four kids, per Equities.com. He became more immersed in his children’s worlds, which also included sports. This led him to coach his older kids’ football and baseball team, sparking a newfound purpose. “Hey, this is where I see my purpose,” Burnett explained. “It’s where I see my angle.” In 2020, he secured a position at McArthur High School in Hollywood, FL, as a football coach. With poverty and...
Sony’s agreement with Michael Jackson’s estate will remain intact despite pushback. As AFROTECH™ previously mentioned, Sony Music Group reportedly closed a sale related to the late “Rock With You” singer’s legendary catalog, which encompassed half of his publishing and recorded masters catalog. In total, the assets were worth between $1.2 billion and $1.5 billion. Sony Music Group reportedly paid at least $600 million in the deal to claim its portion of the stake in Michael’s assets. However, there was allegedly some pushback surrounding the deal from his mother, Katherine Jackson. Billboard reports that she attempted to stop the deal. This was because his executors, John Branca and John McClain, had appeared to privately go to Judge Mitchell Beckloff to get the green light for the deal. Katherine argued that it would “violate Michael’s wishes” and that the catalog’s valuation would still rise if the estate maintained its ownership. Beckloff turned down the notion in April 2023 and...
Being in the NFL shifted Brandon Copeland’s perspective on money. Entrepreneur reports Copeland was raised in an environment that supported his journey in sports as a child. However it came because his mother chose not to spend money on extras like soda from a fast food restaurant or candy at the store. His understanding of money would be shaped while he attended the University of Pennsylvania’s Wharton School of Business and interned at Union Bank of Switzerland, but it was further strengthened when he signed on to play for the NFL’s Baltimore Ravens in 2013. The league’s Players Association informed him about benefits that include a matched 401(k). “I had to make it to the Baltimore Ravens to learn what a 401(k) is,” Copeland told the outlet. “This is a tool that most people who interact with an employer may have the ability to use, but who taught my mom about a 401(k)? Who taught my brother about a 401(k)? Who taught anyone I love about these things that are just real facts of...
A historic Black-owned beach in South Carolina is quickly becoming one of the hottest luxury vacation destinations in the states, and it is currently the only incorporated Black beach to sit in the U.S. During the early 1930s, Atlantic Beach was founded by a group of Gullah Geechee as a haven for Black people who were not allowed to occupy the same beaches as white people in South Carolina. Defying Jim Crow laws, the strip of primarily Black-owned coastal properties, dubbed “The Black Pearl,” broadened the enterprises of coastal Gullah Geechee people. A host of hotels, restaurants, nightclubs, and novelty shops were developed just miles from Myrtle Beach. Now, two trailblazing founders are on a mission to continue honoring the rich history that makes up the area. Although they are business partners, Tiffany Bailey Lash, Ph.D., and Tashni-Ann Dubroy, Ph.D., MBA, have a relationship that is rooted in sisterhood. Together, the HBCU alums and friends are on a mission to revitalize and...
Phrases like “Home is where the heart is” or “There’s no place like home” are common ways to describe a person’s connection to a place based on fond memories and comfort. But for those with a robust real estate portfolio, home can be wherever their investment dollars lead them. Naomi Campbell is an example of the latter. Naomi Campbell Is Multi-Dimensional Campbell, the British supermodel perhaps best known for her signature runway walk and fashion style, has invested in several global properties, adding to her business diversity. In 2024, Campbell was honored at London’s Victoria and Albert Museum with a first-of-its-kind exhibit — Naomi: in Fashion — that opened June 22, 2024, and runs through April 6, 2025. The exhibit traces her 40-year journey from her childhood days as a dancer to the pinnacle of her modeling career in the 1990s. As MSN reported, the exhibit features her signature looks and career-defining moments. This exhibit not only celebrates Campbell and her fellow Black...
Trina gave her first check from Atlantic Records to her mother. The rapper, born Katrina Laverne Taylor, signed to the label in the late ‘ 9 0s after making her first appearance on Trick Daddy’s song “Nann N–ga” in 1998. Trina was able to launch her music career as her presence on the track caught the attention of Ted Lucas, the founder of Slip-N-Slide Records to which Trick Daddy had been signed. “This is what they want to do. This is the deal. They going to merge with Slip-N-Slide. This is the deal coming through this Trick and Trina record… and it was a great deal, and we just I did it and immediately this was in ’98,” Trina said during an interview on the “R&B Money Podcast” hosted by Tank and J Valentine. Despite receiving her first check, Trina was more focused on finishing her debut album than making a major purchase. So, she gave it to her mother who used the check to invest in real estate. “I gave the check to my mom actually and… I had introduced my mom into like buying...
Former Atlanta Hawks player Dominique Wilkins is attaching himself to a winning cause. According to a news release, the NBA Hall of Famer is now committing his focus to Roots, an Atlanta, GA-based real estate company that offers a model benefiting investors and renters. Per its website, the company will purchase, manage, and rent homes to renters. From there individuals can become investors, and the renters can also opt in if they comply by paying their rent on time and maintaining the property. Since Roots’ launch in 2021, it has raised $33 million from over 6,000 investors to support its mission. Wilkins is now among its investors and also serves as the company’s partner and spokesperson. His intention behind supporting the brand is to create more opportunity in real estate for those frequently marginalized. Looking ahead, Wilkins’ work with the company will include using his likeness in videos and at gatherings to promote Roots and its “Live in it Like You Own it®” proprietary...
Pinky Cole had a vision when she first launched Slutty Vegan as a food truck in Atlanta, GA. That blueprint has since transformed Slutty Vegan into a lucrative restaurant worth $100 million. Cole recently explained the difference between a 70% and 30% portfolio and how she and her team have developed a strategy that works for them. “So, 70% of the Slutty Vegan businesses, I own the real estate,” Cole said in an “Earn Your Leisure” podcast clip shared to promote her appearance at the 2024 Invest Fest. “And the reason why I did that is because I wanted to go into inner-city communities, communities that developers aren’t so attracted to, and areas that are right in the heart of gentrification. What Slutty Vegan does is go into the neighborhood, raise up the value of that community, help other business owners, because we always have lines down the block. So, they win when we win, and we win when they win.” View this post on Instagram A post shared by Earn Your Leisure...