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No matter who occupies the White House, Maryland Governor Wes Moore remains steadfast in his commitment to three core pillars for his state’s 6.2 million residents: work, wages, and wealth — and creating pathways for all three. At AFROTECH™ Conference 2024, Moore — Maryland’s 63rd and first Black governor — joined Blavity Inc. Co-Founder and COO Jeff Nelson for a powerful fireside chat focused on economic empowerment, youth engagement, public safety, and sustainable community development. The governor shared insights on building resilient, self-sufficient communities, equipping the conference room of innovators, entrepreneurs, and changemakers with tangible steps to create a lasting impact. Buy your AFROTECH™ Conference 2025 ticket now! Reflecting on his personal journey into public service, Moore shared that he didn’t come from a political dynasty — far from it. Now, he says he sees the world in two categories: Marylanders and future Marylanders. “I had to convince members of my...
Amazon, owned by Jeff Bezos, has placed a bid to acquire TikTok. As AFROTECH™ previously told you, the app owned by ByteDance is facing a ban in the United States due to its association with China — although TikTok states it is not tied to the Chinese government. The app will only avoid a ban if it is sold to a company based in the United States. At the time of this writing, ByteDance has shown no interest in selling TikTok, which reaches over 170 million users in the United States, despite the ban’s looming deadline of April 5. The target date was extended by 75 days after Donald Trump signed an executive order upon assuming office on Jan. 20. “We have been fighting to protect the constitutional right of free speech for the more than 170,000,000 Americans who use our platform every day to connect, create, discover, and achieve their dreams,” TikTok CEO Shou Zi Chew said on the platform. “On behalf of everyone at TikTok and all our users across the country, I wanna thank President...
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...
The catalog of one of Hip Hop’s greats, the late Notorious B.I.G., is reportedly up for sale. Various artists have seen massive profits from their music catalogs, including John Legend and Nelly, who sold 50% of his catalog to HarbourView Equity Partners in 2023 for $50 million, as previously reported by AFROTECH™ . That same year, Wiz Khalifa also sold a portion of recorded music and publishing assets to HarbourView, and R&B artist Jeremih followed suit in 2024. The estates of late artists have also sold catalogs. David Bowie’s estate cemented a deal with Warner Chappell Music in 2022 to acquire his 27 studio albums for $250 million, Variety reports . Sony Music Group also acquired half of Michael Jackson’s publishing and recorded music catalog in a deal valued at a minimum of $600 million in 2023, according to Billboard. The Hollywood Reporter states that by 2030 the publishing rights asset class will reach more than $10 billion. Now, it appears that the estate of Notorious...
Airbnb is already known for helping millions of people across the world travel in style. However, now, it’s taking its rentals to even more of an iconic level. On May 1, 2024, for its 2024 Summer Release , Airbnb unveiled “Icons,” a new category that transports travelers to exclusive experiences across the world that they haven’t had access to before, according to a press release shared with AFROTECH™. During the Summer Release presentation in Los Angeles, CA, Airbnb Co-Founder and CEO Brian Chesky shared that the offering has been about a decade in the making from the inception of the innovative idea to its release. Previously, Airbnb has been behind experiences such as allowing guests to lodge in the last Blockbuster store, located in Bend, OR — the only Blockbuster still open in the world — in 2020. Chesky and his team have expanded on such an inventive idea to create even more adventures and inspire people to dream. Composed of first-of-its-kind experiences that feature some of...
Kool & The Gang is next up on a leading publisher’s growing list. Primary Wave Music announced via its website that the founding member and songwriter George Brown has signed a “multi-million-dollar” catalog deal. Within the deal, the company has acquired a stake in Brown’s music publishing catalog, writer’s share, and writer’s share of public performance.
While Whitney Houston is forever stamped as one of the greatest voices and artists of our time, the late legend’s personal life continues to be focused on by mainstream culture. According to Pat Houston, Whitney’s former manager and sister-in-law, Primary Wave can potentially create a great impact to change the narrative.
James Brown was a musical legend — but his failure to engage in estate planning prior to his passing away left his family in financial turmoil. As AfroTech previously reported, the “Mother Popcorn” singer had an estate that was estimated to be worth more than $100 million. But when he died in 2006, his will was nothing if not vague. According to Smithsonian Magazine, the Godfather of Soul merely made provisions for the value of his estate to be designated for scholarships for children in need. Given how James Brown grew up — in a small wood cabin in the rural town of Elko, SC — it would make sense that he’d want nothing but the best for those who may be like him. But needless to say, his will was contested almost immediately after his passing thanks to his complicated legacy. And, after a costly 15-year battle, his heirs finally sold the value of his estate for $90 million to Primary Wave Music. This settlement, however, is not without its issues. “For the past 15 years, several...
The estate of the legendary Aretha Franklin is finally done with the Internal Revenue Service (IRS). According to USA Today, the outstanding $7.8 million debt has officially been paid in full. This is a huge win for Franklin’s four sons who inherited her estate following her passing in 2018. Now, they will be able to reap the benefits from all revenue being brought in from her estate which, per a report, could be millions of dollars. Access to the affairs of Franklin’s estate has been an uphill battle due to IRS being in the picture. Any money being drawn in from her music, and even recent projects like the “Respect” biopic, was never seen by her children. Instead, it was placed into the hands of the government. AfroTech has previously reported on how messy things can get once a celebrity has passed and even noted the years-long process it often takes before families can see a dime of the money. Prince, James Brown, and even “Black Panther” star Chadwick Boseman all had estate...
Being the Godfather of Soul is actually a big business for James Brown — even following his passing in 2006. As AfroTech reported back in December 2021, the estate of the late, great music pioneer was sold to Primary Wave Music for $90 million. The proceeds from the sale went to the James Brown scholarship trust, which will be funded “in perpetuity” from the sale, according to a statement provided by Russell L. Bauknight, the estate’s executor, at the time of the initial report. Primary Wave Music has made similar deals with the estates of Prince, Luther Vandross, and Whitney Houston. The deal, however, isn’t quite cut and dry. Several people — including five of James Brown’s children — have been contesting the late singer’s will for the past 15 years. What’s more, it’s not clear what effect this sale will have on any pending litigation currently against the estate. In other words, if one or more of the children gain control of the estate, will the monies from Primary Wave be...
Black Americans are losing out on a $68 trillion wealth transfer. But what can fix the problem? Planning ahead. “According to an analysis of high net worth and ultra-high net worth markets by consulting group Cerulli Associates, by 2047, trillions will have been passed down to future generations, and due to a lag in estate planning in Black America, Blacks might not actively transfer wealth to their descendants,” reads a new report in the Atlanta Black Star. Put simply, white Americans remain wealthier than other ethnic groups because they keep the money in the family. The Brookings Institute reports that on average, the typical net worth of a white family was $171,000 in 2016, which is nearly ten times the value of the typical net worth of a Black family (which only held a little over $17,000 in assets in 2016). And while the numbers haven’t jumped significantly in the past few years, Black Americans are missing out on whatever wealth they may be entitled to because of the lack of...
Growing up in poverty, James Brown understood — perhaps better than anyone — t he importance of education. He also knew that for many Black men and women like him, college was an impossibility due to finances. That’s why, in his lifetime, the Godfather of Soul wanted to use his estate to fund scholarships for those who needed it. Now, 15 years after James Brown passed away, that dream has become a reality thanks to a new deal made with Primary Wave Music. Bloomberg reports that the company — which has made similar deals with the likes of Luther Vandross, Whitney Houston, and Prince’s estate — has just agreed to purchase Brown’s estate for an estimated $90 million. But this deal is not without its issues. For the past 15 years, several people — including five children of James Brown — have been battling it out in probate court to gain control of the estate. Before any money can be paid out, lawsuits must be decided and settled between current and former executors of the estate. It’s...
Whitney Houston fans are in for unexpected, yet exciting news. The late music legend has her own non-fungible token (NFT) collection! Houston’s estate has partnered with OneOf, a music NFT platform backed by music pioneer Quincy Jones, for the exclusive collection celebrating the singer’s life, Complex reports. The collection will feature an unreleased demo that Houston recorded at age 17, according to the outlet. The NFT will be auctioned next month and details will be revealed on Dec. 1. The winner of the auction will gain access to the never before heard demo, as well as a digital video created by 17-year-old Diana Sinclair, the young artist behind the collection’s artwork. “I saw a common theme in a lot of her work, the empowerment of Black women,” Sinclair reportedly shared in a statement. “Whitney’s talent and presence stands out a lot to me as a young Black woman in the arts. In the artworks I created, I wanted to highlight those sides of Whitney in the upper tiers, and then...
The influence of the late Luther Vandross will always be seen throughout the music industry. Today, his estate is making sure of that as they keep the R&B legend’s legacy and music alive through a new partnership. Variety reports that Vandross’ estate closed in on a $40 million deal with Primary Wave Music — an independent publisher known as “the home of legends.” In the long-term partnership, the company will manage all assets and acquire a stake in his publishing, master recording income stream and name and likeness rights. “We are delighted to join forces with Larry and Primary Wave. The LV Estate’s goal is to see Luther’s legacy continue to flourish and believe the partnership with Primary Wave is a clear step in that direction,” Carmen J. Romano, of FBBM Entertainment Business Management, told Variety. Over his influential career spanning over three decades, Vandross sold over 40 million records worldwide. According to Variety, the deal will include several of his biggest hits...