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President Barack Obama knows how to rule a country — and how to make money. Since leaving office in 2016, AfroTech has been keeping up with America’s favorite President and his subsequent money moves. Whether he’s teaching college courses, joining NBA Africa, or launching a podcast series with Spotify, Barack Obama has been working hard for the money. In fact, Obama has been richer than he’s ever been in his life. Since leaving office, he’s grown his net worth by $70 million, and according to some sources, that’s actually a low-ball estimate. Business Insider reports that the Obamas probably have a much higher net worth than $70 million. When fees for their speaking arrangements, a six-figure pension that all presidents receive, and their Netflix deal are all taken into account — not to mention their new business deals that seem to pop up regularly — the Obamas most likely have a net worth of $135 million. But Barack Obama doesn’t just make his money from speaking fees and pensions....
People are leaving Twitter at alarming rates following the news that billionaire Elon Musk has now acquired the company. According to The Hollywood Reporter, the follower counts for high-profile accounts like former President Barack Obama (the most-followed Twitter user) and Katy Perry have seen a significant drop on the social media platform. “Obama, who is Twitter’s most-followed user with 131.7 million followers, saw his follower count fall by 300,000 since Monday, NBC News says. Perry, who has 108.8 million followers, lost 200,000,” the outlet reports. And, what’s more, the decrease is allegedly happening due to Elon Musk’s estimated $44 billion purchase.
Forest Whitaker and Dr. Dambisa Moyo recently joined National Basketball Association (NBA) Africa as strategic investors. The Academy Award-winning actor along with the Zambian global economist and best-selling author has joined forces to help boost economic growth across the African continent through the league’s expansion, the NBA revealed.
When Rick Ross recently announced that he was interested in investing in the Miami Heat, he became one of but a handful of Black men and women who expressed an interest in equity in sports teams. “I’m still interested in getting a small percentage of an NFL or NBA team,” he shared during an episode of Uninterrupted’s Certified Buckets podcast when asked his stance on making a sports investment move. “I’d just invest in the Heat because we got some beautiful additions. And like I say I’m one of those people that can look three seasons ahead… I’m confident, we’ll bring them big trophies back.” This isn’t the first time Ross has expressed interest in investing in sports teams. As AfroTech reported, he expressed an interest in the Los Angeles Clippers in 2014. Back then, both Ross and Diddy were eyeing the possibility of buying the team but ultimately lost out to Steve Ballmer’s $2 billion offer. Currently, there are only six people of color with ownership across all three major U.S....
According to ESPN, Dennis Schröder has agreed to a one-year deal with the Boston Celtics after turning down a lucrative contract extension with the Los Angeles Lakers. The point guard was the last of the top free agents on the market awaiting a new home after he refused a contract extension worth more than $80 million from Los Angeles. As of Aug. 10, Schröder is headed to Boston for a $5.9 million deal — a significant decrease from what he was hoping to lock in. ESPN reports that, “In Boston, Schroder joins a Celtics team with a hole at point guard in the wake of Kemba Walker being traded to the Oklahoma City Thunder, allowing him a chance to boost his value when he will hit the market again as a free agent next summer.” And, the 27-year-old seems to be in good spirits about the new move. “I’m proud to announce that for the 2021-22 season I’ll be playing for the Boston Celtics!” said the NBA player via Instagram. “This is one of the best franchises in NBA history and it will be a...
Former President Barack Obama is making headlines this week. According to Axios , the 44th president is planning a blow-out birthday bash at his home in Martha’s Vineyard, and is inviting all of his celebrity friends. Invitees include Steven Spielberg and the legendary rock band Pearl Jam. It goes without saying, of course, that there’s a certain contingent that believes this party is evidence of a global conspiracy by the “elites” to implant microchips. And it really goes without saying that they hate the fact that Obama isn’t sitting home stuffing his face with cold Big Macs the way another former president is currently doing. Obama, however, made clear that this will be an outdoor event, that guests are required to be fully vaccinated against COVID-19, and that Martha’s Vineyard is considered a “low-risk” area for coronavirus infection. But if that isn’t enough to make a certain contingent seethe, his net worth certainly will. And at least his is legitimate, and not plagued by...
Former president Barack Obama has plans to take the National Basketball Association’s (NBA) presence in Africa to the next level. According to an announcement from the NBA, Obama is officially a minority owner and strategic partner in NBA Africa’s business, where he hopes to advance the league’s social responsibility efforts across the continent. “The NBA has always been a great ambassador for the United States—using the game to create deeper connections around the world, and in Africa, basketball has the power to promote opportunity, wellness, equality, and empowerment across the continent,” he shared in a statement. “By investing in communities, promoting gender equality, and cultivating the love of the game of basketball, I believe that NBA Africa can make a difference for so many of Africa’s young people. I’ve been impressed by the league’s commitment to Africa, including the leadership shown by so many African players who want to give back to their own countries and...