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Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. While President Donald Trump has delayed the tariffs on Canada and Mexico for another month, tariffs have already been imposed on China. Tariffs on China include a 10% tax, along with closing a loophole that helped boost China-owned brands like Temu and Shein. When a foreign shipment arrives, it goes through customs and gets inspected, and the importer has to pay an import tax depending on the size of the shipment. For almost a century, there’s been a loophole where small packages under a certain value would be exempt from that tax, called “de minimis.” Ten years ago, Congress expanded the exemption to include packages worth under $800. Stores like Temu, Shein, and Chinese drop shippers that sell on Amazon and the TikTok Shop have used the loophole to their advantage. The majority of retailers ship products in bulk to U.S. warehouses as they go through the traditional customs process. Shein and...
What a year for Coco Gauff. The tennis star made her way to the 2024 Paris Olympic Games, marking her first appearance in the Olympics. Despite not medaling, her appearance proved to be quite memorable. She also made history as the youngest athlete and the first tennis player to serve as the torchbearer. View this post on Instagram A post shared by Team USA (@teamusa) In October 2024, Gauff made history yet again when she won the China Open. According to CNN, she outperformed opponent Karolina Muchová and became the first American to win the China Open since Serena Williams in 2013. She wraps up the year by adding another title. In November 2024, she defeated Olympic gold medalist Qinwen Zheng during the WTA Finals held in Riyadh, Saudi Arabia. As Forbes notes , this marks her ninth WTA Tour singles title. Gauff took to Instagram to reflect on her achievement. “In all seriousness, I’m so grateful for all the support the last few weeks. Getting to win the last tournament of the...
In 2024, BMW remains one of the most prominent car manufacturers worldwide, known for its luxury and performance-driven vehicles and, sometimes, even flying cars (yes, you read that right.) That said, articles published earlier this year have estimated that BMW will make less money in 2024, with the issue being production costs. As investors consider BMW’s financial standing, an important metric to examine is its enterprise value (EV). So, what exactly is enterprise value, and how does it apply to a company like BMW? What Is Enterprise Value (EV)? Enterprise value is a comprehensive measure of a company’s total value, often used by investors to evaluate the full cost of acquiring a business. Unlike market capitalization, which only accounts for the value of a company’s outstanding shares, enterprise value takes into account additional financial factors, such as debt and cash reserves. Essentially, EV reflects what an investor would have to pay to acquire the entire company,...
If you’ve tuned into NBC News any time in the last few decades, you’re likely aware of Hoda Kotb, a revered television journalist best known for her long-time duty hosting the “Today” show. While the inspiring Oklahoma-born broadcaster has spent much of her time offering tales of human interest and up-to-the-minute news on “Today,” she recently announced her plans to depart her highly coveted co-anchor slot . This news came as a surprise to many, though a brief look at her net worth makes it clear that Kotb has enough liquid cash to do whatever she pleases. Per outlets such as Celebrity Net Worth , Hoda Kotb currently touts a fortune of more than $30 million. These figures come primarily from Kotb’s “Today” salary, though they are ameliorated by book sales, endorsement deals , and a wide array of other investments. Given that Hoda Kotb is preparing to enter a new phase in her career, it seems like now is as good a time as any to perform a deep dive on her financial portfolio,...
Mikal Bridges’ life and legacy with the NBA can only be described in one word: consistency. The 27-year-old ball player has never missed a single game in his six seasons with the league, brought multiple teams to the playoffs , and has even claimed to have eaten the same Chipotle meal every single day for over a decade. While it’s hard to believe the young small forward can maintain such a stringent day-to-day discipline, he’s been making waves over the years with his on-the-court performance and easy-going demeanor. If you’ve been following NBA news in recent weeks, you’re likely familiar with the ultra-reliable player, as he recently secured himself a position on the New York Knicks with a high-profile trade. Since Bridges has been so consistent and successful in his NBA career, many fans and viewers are curious about his salary and overall net worth. According to Clutch Points , Mikal Bridges touts a jaw-dropping $20 million net worth as of June 2024, with more millions sure to...
Maurice and Yashica Spears Wince are bringing healthy food options to a food desert in Milwaukee, WI, Black Business reports. Combining years of experience, the founders have partnered to open Sherman Park Grocery, the first Black-owned, full-scale grocery store in the state of Wisconsin, per Milwaukee Community Journal. It had the support of the Embassy Center MKE church and other community leaders. “Yashica worked in management at Walgreen’s, and I managed pizza franchises in Menomonee Falls,” Maurice explained to the outlet . “Our business acumen comes from those experiences. In addition, we have other real estate holdings, including a laundromat on the same block as the grocery store.” Having been raised in Milwaukee Public Schools and experienced the effects of food and home insecurities, the couple saw a need in the community for the grocery store. Spurred by that motivation, Sherman Park Grocery was established in Milwaukee, WI, with a focus on community, offering affordable,...
Manifested in his nickname, Michael Williams quite literally made it. The producer, known professionally as Mike Will Made-It, started his career in Atlanta’s underground. His journey led him to work on hits like Rihanna’s “Pour It Up,” Beyoncé’s “Formation,” and Kendrick Lamar’s “Humble.” In 2013, he took greater control by launching Ear Drummer Records and signed the label to Interscope Records. The label birthed the Hip-Hop duo Rae Sremmurd, and he helped produce their singles “No Flex Zone” and “Black Beatles.” Today, Mike Will Made-It can see how he “made it” from his earnings. He estimates he’s made $40 million within the last two years thanks to his music production catalog and publishing fees, notes Forbes. “I’m great,” Mike Will Made-It told Forbes. “I’m in a position I never imagined.” With his multi-million-dollar fortune, he has invested in Atlanta, Georgia, real estate. In 2017, he opened The Wxllxm Culture Center after purchasing a warehouse located on Joseph Lowery NW...
Celebrity-backed investment firm Avenue Capital Group seeks to raise more than $1 billion. According to a press release, Marc Lasry and Sonia Gardner’s Avenue Capital Group established a sports investment fund in October 2023 to provide capital to sports leagues and teams in North America and Europe. The fund intends to extend its reach to Africa, Asia, South America, and Australia. The fund also plans to supply financial solutions to sports teams, owners, and leagues and invest in sports media, entertainment rights, real estate, and associated ventures, per the press release. Notable names supporting the venture include Stephen Curry, Lauren Holiday, Harry Kane, Candace Parker, Michael Strahan, and Lindsey Vonn. “We built out the company advisory board of athletes who are part of our company… Lauren Holiday, Candace Parker, Harry Kane over in Europe, and Steph Curry,” said Strahan during an interview with Forbes at the 2024 Forbes Iconoclast Summit. “It’s interesting ’cause it was...
A lot of buzz surrounds Bronny James. The former University of Southern California (USC) basketball player and son of superstar LeBron James has been set on making it to the NBA with the intentions of forging his own path. “I think I’ve put in the work, and I’d get drafted because of not only the player but the person that I am,” he said during a press conference held at the 2024 NBA Draft Combine in May. On June 27, 2024, it was revealed that he was drafted to the Los Angeles Lakers in the second round as the 55th overall draft pick. “Welcome to the #Lakeshow, @bronny,” the team wrote via Instagram. View this post on Instagram A post shared by Los Angeles Lakers (@lakers) James joins his father, LeBron, who is currently on the team’s roster. Their presence in the league is historic as this will be the first active father-son duo in the NBA, CBS Sports reports. “NBA history could be made next season, and should be made in a Lakers uniform,” Lakers General Manager Rob Pelinka said,...
GloRilla has revealed one of her greatest decisions since making her presence known in the music world. The Memphis, TN-born artist, born Gloria Hallelujah Woods, is known for her 2022 single “F.N.F. (Let’s Go),” produced by Hitkidd, as AFROTECH™ previously reported. The song sold more than 1 million records, reached the top spot on the Mainstream R&B/Hip-Hop Airplay, and climbed to No. 42 on the Billboard Hot 100, per Revolt. ”It didn’t take the song long to blow up. It blew up in like three days,” GloRilla said during an interview on “The Shop” podcast. “So, I was just traveling the world like two days after I dropped that song ‘cause all the labels were calling me everywhere. So yeah, my life changed, changed right after I dropped that song.” After that, GloRilla set out to prove she would not be a one-hit wonder through the release of “Tomorrow” and its remix with Cardi B; “Yeah Glo!”; “Wanna Be” with Megan Thee Stallion; and most recently “TGIF.” GloRilla credits her success to...
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...
From the time he was a kid, McKinley Thompson Jr. was never afraid to chase his dreams, and now everyone has him to thank for the Ford Bronco that the culture grew to know and love. Thanks to Thompson’s imagination and skill, he made history as the first Black designer to be hired by Ford Motor Co., and his first assignment consisted of working at Ford’s advanced design studio in Dearborn, MI, per the Ford media website. His love for cars first began around age 12 when he spotted a silver-gray DeSoto Airflow in Queens, NY, the neighborhood where he was raised. “It just so happened that the clouds opened up for the sunshine to come through,” Thompson recalled in a 2001 interview that was documented by The Henry Ford. “It lit that car up like a searchlight. I was never so impressed with anything in all my life. I knew that’s what I wanted to do – I wanted to be an automobile designer.” While serving as an Army Signal Corps in World War II, Thompson learned drafting and began work as...
Meet Emeline King, the woman who developed the interior design of one of America’s most beloved cars. According to the Ford Performance blog, after 80 years of business, Ford Motor Company hired its first Black female car designer, Emeline King, who would soon help the company develop the concept that led to the interior design of the 1994 Ford Mustang. Her father, Earnest O. King Sr. — a Ford Motor Company fabrication specialist — introduced Emeline King to the brand at a very young age. Ultimately, Emeline King “fell in love with the 1968 Ford Mustang” after taking a trip with her father to the auto show; as they say, the rest was history. View this post on Instagram A post shared by Something Black Made ® (@somethingblackmade) “I loved to play with toy cars when I was a child. It was an insult to give me a doll,” said King to Ford. King was raised in Detroit, MI, the place dubbed the Motor City for its role in the Industrial Revolution and home to many of the automotive...
This week, Naomi Campbell was a part of the stars kicking off New York Fashion Week (NYFW) with what she’s described as a “dream come true.” On Sept. 5, the supermodel debuted her clothing collection, PrettyLittleThing x Naomi Campbell, according to Los Angeles Times. The collaboration, based on her popular 1990s fashion looks, came together with the help of Black designers Victor Anate and Edvin Thompson.
