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Shaquille O’Neal has settled the FTX investor lawsuit. As AFROTECH™ previously told you, the former NBA player, who is now a serial entrepreneur, had been named alongside FTX founder Sam Bankman-Fried, Tom Brady, Stephen Curry, Naomi Osaka, and others, as defendants in an $11 billion class action lawsuit that was filed in Florida. The defendants had all been featured in FTX ads. For their involvement, they were being accused of promoting the cryptocurrency exchange, which ultimately filed for Chapter 11 bankruptcy protections and went defunct. The suit stated the defendants endorsed a “fraudulent scheme” that was “designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.” O’Neal had attempted to distance himself from FTX. “People know I’m very, very honest,” O’Neal explained, according to CNBC’s Make it. “I have nothing to hide. If I was heavily involved, I would be at the forefront saying, ‘Hey.’ But I was...
CoCo Gauff is on a mission to “take greater ownership” of her tennis career, starting with launching her own management agency. On Wednesday, April 2, Gauff, describing herself as an “athlete, entrepreneur, and changemaker,” announced the launch of Coco Gauff Enterprises. The initiative is supported by talent representation agency WME (William Morris Endeavor), which Gauff asserted has the “vision and resources to help me explore all of the opportunities ahead.” “From the moment I first picked up a tennis racket, I’ve always believed my purpose extended far beyond the court,” Gauff’s post said. “Today, I’m thrilled to announce CoCo Gauff Enterprises, a venture that reflects my passion for making an impact—not just in tennis, but in business, philanthropy , and beyond.” View this post on Instagram A post shared by Coco Gauff (@cocogauff) The venture marks the end of Gauff’s partnership with Team8, the boutique agency co-founded by former Swiss professional tennis player Roger...
Serena Williams is supporting innovation in women’s health. Teal Health The tennis star has aligned herself with Teal Health, a women’s health startup founded by Kara Egan (CEO) and Dr. Avnesh Thakor in 2020. According to the company website, Teal Health’s inception trickles back to Thakor’s medical experiences over the years. He observed insufficient innovation around cervical cancer screenings and created a self-collect prototype. With Egan’s two decades of experience in finance, health, and technology, the company was formed with the vision to develop an at-home self-collect cervical cancer screening kit, currently under FDA review. A user can start by requesting a kit, which initiates a vetting process to confirm eligibility. Once approved, the kit will be delivered to your home for sample collection. The sample is then mailed to a lab, and results are shared through Teal Health’s application. Users also have the option to speak with a provider for additional support. Teal...
WNBA star and Nike signee A’ja Wilson is making m ajor moves. Wilson has been a cornerstone player for the Las Vegas Aces since she was drafted first overall by the team in 2018, as noted by the WNBA. She has led the Aces to two consecutive national championships and earned multiple MVP awards, including one in 2024. What’s more, Wilson has continued to dominate as the year comes to a close. She made history as the first player to score 1,000 points in a single WNBA season, according to ESPN. “It was pretty surreal but it was one of those things that I did not understand it was in reach,” Wilson said in reflection, per CNN . “It didn’t really hit me until the second half when I was like ‘oh no, this is doable.’ … Like now to live in it, I’m living my dream and so I’m so grateful to be able to say I’m here, and now I know someone is going to crush it soon and going to be 2,000 points in a season, so I am going to hold onto it now while I got it.” Wilson’s victories also extend off...
Whoopi Goldberg is launching a sports platform for women. During a taping of “The Tonight Show Starring Jimmy Fallon,” she announced the launch of All Women’s Sports Network (AWSN), which has already broken ground in Asia, the Middle East, and India with the help of partners CommonSpirit and Jungo TV. “It’ll be the home for live women’s sports from around the world. Everything from soccer, basketball, tennis, cricket, curling — you name it. If a woman is playing it, we’re showing it,” Goldberg said on the show. Goldberg’s motivation for the network was planted when she was a child. She recalls a time when her brother would play a variety of sports, but she was often left out due to her gender, mentions Yahoo Sports. Throughout her career, she recalls engaging in conversations about how to move the needle in women’s sports. “Ever since I was a little kid, I always wanted to play sports. My brother could play … he played everything,” she explained. “So, for years, I’ve been talking to...
JuJu Watkins is making major moves on and off the court. On Tuesday, 8, 2024, ESPN reported that the University of Southern California star — who recently entered her second season with the team — signed a multiyear contract extension with Nike , securing “one of the richest shoe endorsement deals in women’s basketball.” Watkins joined the Nike family as a high school senior in October 2022. At just 19, she has consistently exceeded expectations during her time with the Trojans, leading the team to the Elite Eight for the first time since 1994 in her first year, according to CBS Sports. She boasted averages of 27.1 points, 7.3 rebounds, 3.3 assists, and 2.3 steals per game, ranking second nationally in scoring, per the outlet. With 920 points, she made history as the all-time leading scorer among freshmen in Division I women’s basketball, surpassing San Diego State University’s Tina Hutchinson who had the previous record of 898 during the 1983-84 season. As Blavity reported, Watkins...
Piersten Gaines wants to bring luxury to the textured hair community. Her mission stems from several trips to the salon and not receiving proper care. She describes some visits as even “traumatic” after losing all her hair under the care of two licensed stylists. Gaines would later attend Harvard Business School and conceptualized Texas-based silk blowout bar Pressed Roots following a class presentation that allowed her to pitch the concept to “ Shark Tank” judge Kevin O’Leary. “Once I matriculated into business school, I became hyper-aware that there was a huge underserved market who were searching for the same hair care experience that I had been searching for for years — one that was reliable, affordable, luxurious, and one where the stylists actually understood the needs of my hair texture,” she said in email interview with AFROTECH™. “That is how Pressed Roots was conceptualized. I envisioned a chain of luxury, silk blowout bars that celebrate and specialize in the specific...
The Olympic Games present one of the world’s biggest stages and displays of athletic prominence. From basketball to golf and now breakdancing, the Olympics always prove to be a place where people can support the top athletes representing their country. The 2024 Games are in Paris, France, welcoming big names like LeBron James, Coco Gauff, and Sha’carri Richardson. Among those names are players who bring in massive salaries. Their performances in the Olympics showcase their talent and possibly open the door for additional revenue dollars through brand deals and partnerships. Setting Records And Increasing Earnings At The Olympics According to Sportico, the top 20 highest-paid athletes collectively earned about $1.35 billion over the past 12 months ending in June 2024. While this list accounts for some of the most recognizable names in sports, it is exclusively represented by men, and about 65% of the entries are NBA players. Although NBA players dominate the list with 13 entries,...
Colin Kaepernick is leveraging artificial intelligence (AI) to help storytellers. Kaepernick has been pouring into new ventures following his departure from the NFL, which came after he started kneeling in 2016 during the national anthem in protest of police brutality and racial injustice, TIME reports. Kaepernick last played for the San Francisco 49ers on Jan. 1, 2017, and when he became a free agent he was not signed by a new team, per ABC-7. Since then he has focused his attention in areas that include venture capital. As AFROTECH™ mentioned, he joined KINLÒ, tennis star Naomi Osaka’ s skincare company, serving as an investor and board member. He also is a children’s author and released “I Color Myself Different,” in April 2022, which depicts his experience of embracing his Blackness as an individual adopted into a white family. Kaepernick’s latest endeavor focuses on supporting other storytellers, and he is utilizing AI to achieve this goal. TIME mentioned he raised $4 million...
Entrepreneur Victor G. Harvey is behind what could be Florida’s first Black-owned distillery. According to a press release, Harvey has secured a $2.45 million loan issued by Fort Lauderdale’s Community Redevelopment Agency to create the Victory Entertainment Complex project, which will house various Black-owned businesses. The venture will cost about $6 million to build, and Harvey plans to support the rest of the cost through his personal investments. The two-story, 15,000-square-foot facility is projected to take 16 months to complete and will include a restaurant, cigar bar, whiskey lounge, event space, a rooftop bar, lounge, and a craft distillery named The Old Sistrunk Distillery, which Harvey believes to be the first Black-owned distillery in Florida. The craft distillery will include products from his company Victor George Spirits, such as VG Vodka, which is available in 44 states at retailers like Total Wine, Kroger, and Trader Joe’s. “This will bring the Black community a...
Fearless Fund Co-Founder Ayana Parsons has parted from her leadership role at the venture capital firm. According to The Atlanta Journal-Constitution, Parsons reveals that she stepped down as chief operating officer of Fearless Fund, co-founded by Parsons and CEO Arian Simone, in April 2024. “I have stepped back from the operations of the fund, so I’m not in the day-to-day, I’m not running it,” Parsons said, per the outlet . “But what I can tell you as it relates to me, is I’m a problem solver. I’m a changemaker. And so, I am pulling together people to talk about innovative and creative ways that we can continue to drive change and do it in multiple areas.” While the move was amid Fearless Fund’s lawsuit, Parsons emphasizes that her departure wasn’t due to the legal battle. As previously reported by AFROTECH™, Edward Blum and his American Alliance for Equal Rights group sued the Atlanta, GA-based fund in August 2023 for “explicit racial exclusion” by establishing a grant program...
85-year-old Shirley Smith has fulfilled her academic dreams. Raised on a tobacco farm in Wilmington, NC, Smith eventually had to move to Somerville, NJ, because her father needed to earn more money to support the family of six children after tobacco rates fell, Fox News Digital reports. By this time, Smith had left her academics behind, leading her to fill her time with jobs, including at a dry cleaner and a pocketbook factory. “I was going to the 10th grade, and I told him, the biggest mistake that I made, I think, was telling him that I didn’t want to go to school,” Smith told the outlet. “And he said, ‘Go to work.’” Smith eventually had a family of her own and moved to Georgia. Although she considered vocational school, she never completed her studies as her days were spent caring for her growing family. Still, Smith instilled the importance of education in her home and required her children to finish school if they were to live under her roof. “Matter of fact, they cried to go...
A community-driven project is coming to revitalize Charlotte, NC. According to a press release provided to AFROTECH™, The Whitaker Group — the creative company behind brands such as A Ma Maniére, Social Status, APB, and Prosper — has revealed its plans for The Collective on Tuckaseegee , a 13,000-square-foot compound and retail campus with 10 retail units located in Charlotte. The Collective aims to stimulate economic development in many ways. The venture will feature local entrepreneurs as well as The Whitaker Group’s existing brands, partners, and experiences, including APB Skatepark, the first privately held, Black-owned, publicly accessible, non-DIY skatepark in the country. This skatepark was developed in collaboration with The Boardr, which encompasses three firms with expertise in skateboarding facility design and construction, event production and consulting, and athlete management, its website mentions. Additionally, The Whitaker Group plans to launch the in-house apparel...
Master P is launching a health-focused food venture. On Juneteenth, June 19, the rapper- turned-businessman took to Instagram to announce the launch of Miller Family Foods. The company will promote healthy living by offering consumers better “alternatives in cereal, oatmeal, breakfast bars, pancakes, waffles and more, deliciously made with the highest quality, using natural ingredients and flavors from the earth it grows.” By design, its foods will be made without artificial preservatives, hydrogenated oils, high-fructose corn syrup, artificial sweeteners and colors, GMOs, and BHA/BHT. Furthermore, Miller Family Foods’ mission will be to diversify the products shelved in grocery stores. “We are evolving as a culture, we are no longer just consumers,” Master P said in a statement shared on Instagram. “We spend trillions of dollars annually with no real ownership, but that’s changing. African Americans want healthier food alternatives. I heard them loud and clear. And that’s why...
Naomi Osaka has scored another investment. As AFROTECH™ previously reported, the tennis athlete launched the media company Hana Kuma with Stuart Duguid in June 2022, in collaboration with LeBron James and Maverick Carter’s SpringHill Co., which serves as its financing, operations, and producing partner. In April 2023, Hana Kuma closed a $5 million funding round that included participation from SpringHill and other investors to support its team and programming and create “a more robust business plan.” The move was part of a spin-off that would give the company more independence. “We really want to see her build her own version of SpringHill,” Carter said then, according to The Hollywood Reporter. “We’ve worked really hard to get SpringHill where it is, but now we want to help others to do the same, and to do it different than as we have done at SpringHill, and to do it in their own way and their own voice.” Just over a year since its last investment, Hana Kuma has attracted...