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In 2021, AfroTech reported that Al Harrington’s Viola became the first Black-owned multinational cannabis brand. This year, the brand seems to be coming for more, and then some, with plans to expand to new markets. To strategically position the cannabis company for this expansion and build equity in the space, Viola has closed a $13 million equity funding round, according to a press release. “We’re looking forward to a big 2022. The team at DelMorgan has always supported our vision and continues to be great partners for us as we bring Viola to new markets,” said Al Harrington, Co-Founder & CEO of Viola, according to a press release. Neil Morganbesser , President & CEO of DelMorgan, the banking firm that operated as the transaction advisor for the round, also shared a statement. “Al Harrington has proven himself to be a visionary in the Cannabis industry, demonstrating an ability to execute on initiatives that resonate deeply with today’s popular culture and consumers,” Morganbesser...
Former NBA star turned entrepreneur Al Harrington is on a mission to make the cannabis industry a Black-owned enterprise — starting with his brand Viola. Forbes reports that Harrington’s cannabis line is expanding its products to Canada after sharing that Avicanna — a cannabinoid-focused biopharmaceutical company — will be licensing the brand and using it to help develop specific formulations for sale across the country’s medical and consumer retail channels. The company’s “commitment to research and development of cannabis in the medical and pharmaceutical industries makes them the perfect biotech partner to bring Viola’s brand to our Northern neighbors,” he said. “We’re excited to announce our partnership with Avicanna to expand into the Canadian market,” Harrington told Forbes. “Becoming the first Black-owned multinational brand is a significant milestone for Viola, and we look forward to expanding our product offering and Viola’s mission into a new market.” For the use of its...
Seven African healthtech startups have been selected for the latest cohort of the Investing in Innovation Africa (i3) program . Each will receive up to $225,000 in grant funding and tailored support to scale solutions that improve medicine access. Backed by the Gates Foundation, Merck & Co. Inc. (MSD), Sanofi, and others, i3 supports growth-stage startups working to close critical health care gaps. This cohort emphasizes pharmacy-related solutions, a vital part of health care in many African countries , where pharmacies handle up to 70% of initial patient visits, according to Urban Geekz. The selected startups, which are dedicated to developing a range of scalable, tech-enabled solutions, include: mPharma Chefaa Dawa Mkononi Meditect myDawa RxAll Sproxil Their offerings include AI-powered prescription refills, last-mile medicine delivery, cloud-based pharmacy systems, embedded financing, inventory management, and product authentication to reduce fraud and improve drug safety. “It is...
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...
If you’ve been keeping up with Donald Trump’s moves since the end of the 2024 election , you likely already know that the newly inaugurated president has taken numerous meetings with CEOs and industry leaders in the world of tech, including those from OpenAI, Softbank and Oracle. According to the latest White House press briefing, Trump has united the forces of the aforementioned corporations under the umbrella of “Stargate,” in an effort to create a massive push for artificial intelligence infrastructure. For now, there are still plenty of questions regarding Stargate, and even a few critiques from high-ranking Trump cabinet picks arguing that the respective parties simply don’t have the funds to pull it off. Still, the New York Stock Exchange seems to be brimming with the news, as shown by the latest returns of each of the parties involved. The Stargate venture is poised to cost more than $500 billion when it’s all said and done, so many people in the world of tech and government...
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...
Climbing his way into first place of today’s billionaires , South African-born Elon Musk is making headlines for his political affiliations as much as his business decisions. Two of his most well-known are Musk’s purchase of Twitter (X) in 2022 and founding of artificial intelligence startup xAI in 2023. Since the November presidential election, the Tesla and SpaceX CEO has become even richer, by 77% , than he was last year. Selling shares of Space X garnered the surpassing of his own record-setting wealth amount now making him worth more than Costco . Wondering how much that is exactly? Here’s what we know about Elon Musk’s net worth. Who Is Elon Musk? Allison Robbert-Pool / Getty Images Elon Musk received bachelor’s degrees in physics and economics from the University of Pennsylvania in Philadelphia. In 1995, he moved to California to pursue a master’s degree in physics from Stanford University. He would leave, after only two days in the program, as he was certain that the...
As the 2024 AfroTech conference approaches, anticipation builds for the impactful discussions that will celebrate Black excellence in technology. This year, Capital One, a tech leader committed to fostering diversity and innovation, is taking center stage with an exciting workshop on technology and product management. At the helm of this dynamic session will be two visionary leaders, Alexandra “Alex” Wood, Vice President of Product, and Jared Jordan, Managing Vice President, both of whom are driving the future of tech at Capital One. Their leadership exemplifies the company’s commitment to nurturing Black talent and pushing boundaries in the tech landscape. Meet the Leaders: Alex Wood and Jared Jordan Alex Wood and Jared Jordan bring diverse experiences and unique perspectives to their roles at Capital One. For Wood, the journey to Capital One wasn’t a linear path but rather a discovery of passion. “Like every good daughter of an immigrant, I wanted to be a doctor or scientist, but...
Brandon J. Middleton-Pratt is lending his law expertise to the tech ecosystem. He currently serves as a partner at Wilson Sonsini Goodrich & Rosati and is a board member at DivInc, a nonprofit that empowers underrepresented founders. His trajectory was not a linear one. He initially pursued a finance and marketing degree at the University of Denver while playing on its basketball team, he says. Upon obtaining his bachelor’s in 2003, he decided to move to Los Angeles, CA, to pursue a career in entertainment instead. Though that did not pan out for long, he made appearances in the films “Coach Carter”, “Rebound,” and “The Longest Yard.” The pivots of life would then lead Middleton-Pratt to play basketball overseas in Spain and Cyprus after receiving an offer from a sports agent. He then experienced a crossroads, which would determine if he would return to Los Angeles. A call from a mentor with an opportunity in the energy field finally brought him back to the states. “A mentor of mine...
Tracy Morgan is a well-known actor, comedian, and author known for his unique delivery and candid demeanor. The Brooklyn native has a career with significant milestones and highlights across stand-up, television and movies including stints on ‘Saturday Night Live’ (SNL) and a lead role in ’30 Rock’, and of course his stand-up comedy. While his acting and comedy are what he is most known for, his brush with fate when he was caught in a car accident with a Walmart shipping truck in 2014 put him even further in the spotlight. Morgan went on to make a full recovery and returned to acting as well as performing standup. With a career that spans nearly four decades and countless accolades, exactly how much is Tracy Morgan worth? Tracy Morgan’s Early Life Tracy Morgan was born in Brooklyn in 1969 and is the second of five children . He noted that he was often bullied at school. As is common with many comedians, his early life was often marked with tragedy. His parents separated when he was...
Civil rights will always be a hot topic not just within the community but across the country. Sadly, while some strides have been made to create true equality and justice, countless incidents occur across the country that reminds society of how much further there is to go. In particular, when these situations arise victims need a voice that will speak up for them , demand accountability, and shine a spotlight on all the ways that America is not living up to its potential. Ben Crump is one of those voices. Ben Crump is a civil rights and personal injury attorney and civil rights activist. He rose to prominence after he took the Trayvon Martin case where the youth was fatally shot by neighborhood vigilante, George Zimmerman. Since then, the attorney has taken on many high-profile cases that frequently center around racial brutality. Given his high-profile status, how much is this legal eagle worth? Ben Crump’s Early Life Ben Crump’s early life before passing the bar exam is fairly...
With 8 billion people on this earth, it’s understandable if you don’t know every person who occupies the elite 1%. Many of the wealthiest in the world fly under the radar but own corporate empires so strong they touch virtually every corner of the world. And when you further filter that 1% down to the richest Black people in the world, the answers can be even more elusive. While it’s easy to assume that the wealthiest people of African ancestry must be celebrities , that’s not always the case. Even in the United States, the richest Black man is a venture capitalist and the owner of one of the top private equity firms in the country. Who Is The Richest Man In The World As Of 2024? According to Forbes, Aliko Dangote is the world’s richest Black man (2024), with an estimated net worth of $13.4 billion. Dangote is ranked the 144 th globally wealthiest man in Africa. So where does Dangote’s wealth steer from? The answer is the Dangote Group. The Dangote Group is considered to be one of...
Have you ever wondered what it would be like to be the richest person in the world? You could use your money for good, go on endless shopping sprees, fly private jets, or splurge on ridiculously expensive finds. Sometimes people fall down the Google rabbit hole looking to find out who’s the wealthiest person in the world. In particular, you might even wonder who are the richest women in the world. This is a list for billionaires — those people with so much money it’s actually a little hard for the average person to conceptualize. From business tycoons to legacy silver spoon progeny, here’s a list of the eight richest women in the world. You might be surprised to find that more than half the list is composed of Americans. 1. Francoise Bettencourt Meyers ($90.1B): A Business Built on Beauty If you’ve ever walked down a drugstore beauty aisle, you’re very familiar with Francoise Bettencourt Meyers’ company. She’s the granddaughter of the founder of L’Oreal. Yes, that L’Oreal of beauty...
Hyundai is on a mission to get drivers to transition to electric vehicles (EVs). In 2023, the multinational automotive manufacturer launched the first-ever, all-electric 2023 IONIQ 6. The award-winning car features Bluelink, digital key two touch, an in-car WiFi hotspot, and more. Additionally, the IONIQ 6 has an ultra-fast charging time of going from 10% to 80% in less than 18 minutes. Hyundai aims for the target buyer of the IONIQ 6 to be Millennial professionals in urban areas looking to go against the status quo by being behind the wheel of an EV without altering their lifestyle.
