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Rick Ross’ investment in Wingstop appears to be a wise business decision. Forbes reports that Ross’ interest in the fast-casual restaurant chain dates back to the early 2000s, but it was not until launching his music career that he became inspired to purchase a franchise. “I began having those thoughts every time I pulled up to the restaurant,” he told Forbes. “Like, ‘Yo! This is something I need to do.’” Ross secured his first location near Memphis, TN, and expanded to five locations by 2014. At that time, Ross mentioned that some of his stores saw an uptick of 50% in monthly revenue. Fast-forward nearly a decade, and Ross now has nearly 30 locations under his belt as of 2023, with some locations earning $200,000 annually, as AFROTECH™ previously reported. Moreover, across the board , Wingstop is emerging as a lucrative investment, as evidenced by its stock price climbing 1,135% since it went public in 2015, CNBC mentioned. In the past five years, its stock prices have surged 262%;...
Rick Ross admits that even bosses make mistakes, but there’s power in holding yourself accountable. Following reports that his family business, Boss Wings Enterprises LLC, is under investigation by the U.S. Labor Department, the 46-year-old emcee took to social media to address the claims. The company has been fined more than $100,000 for alleged violations at five of its Wingstop locations located in the state of Mississippi.
Wingstop is making headlines, but this time it isn’t because of rapper and Wingstop franchise owner Rick Ross. Business Insider reports Wingstop filed a multi-class trademark to the US Patent and Trademark Office on Feb. 25 as it seems to be looking to secure a spot in the metaverse. The application reportedly includes “downloadable virtual goods” such as non-fungible tokens (NFTs), virtual food, and virtual drink. Wingstop may be planning for users to trade NFTs, digital assets, and artwork through an online marketplace. In addition, the trademark extends to downloadable software for trading cryptocurrency, NFTs, digital tokens, downloadable loyalty, and reward cards. Wingstop states users will benefit from loyalty and reward cards not only in the virtual world but in real life, too. A Wingstop spokesperson could not disclose further details about Wingstop’s plans in the metaverse but they were able to reveal, “the filing signifies an exciting public step to serve the world flavor...
Like father, like son. Of course, Rick Ross never supplies us with anything less than boss moves! And this time, the 45-year-old rapper has laced his son with the ultimate gift — his very own restaurant franchise. The rapper, who opened his first Wingstop franchise back in 2011 in Memphis, TN, revealed he purchased his son, William L. Roberts III, his very own franchise for his 16th birthday in an Instagram post. “Everyone wish my son @mmgbigbank [a] Happy 16th birthday!” wrote the “Aston Martin Music” emcee on Instagram. “Today he became the owner of his 1st @wingstop franchise. You’re now officially a BOSS!!! Keep going.” View this post on Instagram A post shared by Biggest Boss Rick Ross (@richforever) AfroTech previously reported that Rick Ross owns at least 25 Wingstop restaurants, which bring in $200,000 each year in sales. It has also been reported that he raked in an estimated $7 million from his Wingstop investments in 2014. His eldest son is currently making quite the...
Black-owned private equity firm Corlex Capital has announced that it has acquired ten Wingstop restaurants in two different markets, and has intentions to acquire or otherwise develop at least 13 more Wingstop stores in the coming year. In a statement, Corlex Capital founder Jason Bedasse confirmed that its affiliate, in partnership with Prospect Capital Restaurants, confirmed the deal as of yesterday. “We are proud to have joined the Wingstop family and we are eager to bring Corlex’s operational prowess to the newly acquired restaurants. We look forward to playing an active role in the continued growth of the Wingstop system,” he said. Corlex acquired the first nine restaurants late in 2020, and added the tenth restaurant to the final deal on Jan. 6, 2021. The initial ten restaurant deal features five restaurants in Boston, MA, and five restaurants in Indianapolis, IN. Further, Corlex confirmed their 13 restaurant development deal will focus on the greater Boston metropolitan area....
Chef Kwame Onwuachi is taking his culinary talents to Las Vegas, NV! As AFROTECH™ previously reported, the James Beard Award-winning chef opened the Afro-Caribbean restaurant Dōgon inside the luxury hotel Salamander in Washington, DC, on Sept. 9, 2024. Two years before, he had opened his flagship Tatiana by Kwame Onwuachi in New York City, NY, which earned the top spot as the city’s best restaurant, per The New York Times. Now, Onwuachi is spreading his wings yet again, this time with Maroon, a Caribbean steakhouse that will be opening at the Sahara Las Vegas. “We were intentional in selecting Kwame Onwuachi as our partner for the next chapter of Sahara Las Vegas’ culinary journey,” Sahara owner Alex Meruelo told Travel + Leisure. “His incomparable fusion of storytelling, culture, and outstanding cuisine is uniquely captivating. Maroon will not only advance chef Kwame’s personal vision but also revolutionize the current steakhouse experience on the Strip and beyond.” As for what...
Marriott International’s leadership has reaffirmed its commitment to championing diversity, equity, and inclusion (DEI), maintaining its stance even as President Donald Trump announces opposition to such initiatives at the federal level. On April 10, 2025, Marriott CEO Anthony Capuano spoke at the Great Place to Work For All Summit in Las Vegas, NV, according to Fortune. The three-day event gathered thousands of executives from over 800 companies, and Capuano discussed how Marriott plans to navigate the changes to DEI. He shared that his initial response was to meet with his executive leadership team in Bethesda, MA, where they decided to take a week to research and deliberate before reconvening. Shortly after, while attending Americas Lodging Investment Summit in Los Angeles, CA, Capuano faced numerous questions about Marriott’s future approach to DEI. In response, he thought of conversations with his mentor and former chairman, Bill Marriott. “The winds blow, but there are some...
The restaurant industry remains in a state of constant uncertainty, and Hooters of America is the latest brand to find itself under scrutiny. According to CNN, the fast-casual restaurant filed for Chapter 11 bankruptcy in a Texas court, formally beginning a 90 to 120-day restructuring process aimed at preserving the brand while retooling its financial foundation. Despite widespread speculation about Hooters’ restaurants closing, the chain clarified that it has no plans to disappear from the casual dining scene. Instead, it’s reorganizing and transferring ownership of over 100 company-owned restaurants to two major franchise groups, one of which includes the brand’s founders. This strategic pivot comes amid a string of high-profile restaurant sector bankruptcies, including Red Lobster and BurgerFi, as businesses grapple with elevated food costs, labor shortages, and shifting consumer behavior. Hooters’ current trajectory reflects economic pressures and deeper, more cultural...
Detroit, MI, native Eminem is joining a list of individuals, such as former NBA players Grant Hill and Chris Webber, to bring a WNBA team to the city, according to Sportico. The 15-time Grammy Award-winning rapper — born Marshall Mathers — is part of a group led by Tom Gores and the Detroit Pistons. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into the city,” Gores said previously, per AFROTECH™. “For the WNBA, this is home, and our bid represents an unprecedented opportunity for the league to come full circle and effect a long-hoped-for Detroit homecoming. No city is more prepared to embrace the team as a community asset that drives unity and common ground.” According to Sportico, the franchise would play at Little Caesars Arena, which cost $863 million to build and is home to the Pistons and Red Wings. As AFROTECH™ previously reported, Michigan’s largest city had a WNBA team called the Detroit Shock from...
Stephen A. Smith has officially signed a five-year, $100 million contract extension with ESPN, solidifying his role as the face of “First Take” while also gaining greater flexibility to expand his presence beyond sports. According to Sports Illustrated, Smith confirmed the extension on First Take, expressing gratitude for the deal while acknowledging the lengthy negotiation process. “It took too d-mn long,” he remarked with a smile, adding that he remains proud to be part of the “Worldwide Leader in Sports.” His co-host, Molly Qerim, responded lightheartedly, “Yeah, you’re telling me! I saw those mood swings.” Evolving Role at ESPN Under the new agreement, Smith will continue as the primary voice of “First Take” but will scale back appearances on other ESPN programs, including a reduced role on the network’s NBA pregame show, The Athletic noted. This shift allows him to explore additional media opportunities, including political commentary, a space he has engaged with more...
Nipsey Hussle’s mantra , “The marathon continues,” lives on through his older brother, Blacc Sam, who has opened a restaurant near the late rapper’s Marathon Clothing store in Los Angeles, CA . Blacc Sam — born Samiel Asghedom — is the permanent administrator of his brother’s estate. In an interview with CBS News Los Angeles, he said Marathon Burger, which had its grand opening on March 1, 2025, reflects Nipsey Hussle’s dedication to uplifting the community around him. “I think [the] Marathon brand, created by Hussle, was kind of like to inspire and to just motivate, and it just means to keep going,” he said. “It’s not a race, it’s a pace, do it on your own. …Anything that we can continue doing in that spirit is always a blessing.” Marathon Burger, located on Melrose Avenue, serves its famous Wagyu beef burgers and wings. The restaurant also offers vegan-friendly options such as a plant-based burger, a portobello mushroom burger, and a grilled vegetable salad. View this post on...
Six years after opening, a Philadelphia, PA, pizza shop continues its mission of providing a fresh start and making life easier for former inmates . According to NBC News, the seven-member staff at Down North Pizza consists entirely of formerly incarcerated individuals, including executive chef Michael Carter. Carter was searching for a new beginning after losing his job during the COVID-19 pandemic and selling barbecue meals off his porch. “When I add up the guys who work here, it’s about 63 years incarcerated. So it’s like we understand each other, where we come from,” Carter told NBC. “We had the same barriers when we came home, like whether it be employment, housing, health care — we all had to figure it out.” Carter was one of the first hires at Down North with experience in the kitchen, AFROTECH™ previously reported. Childhood friends Kurt Evans and Muhammed Abdul-Hadi founded the North Philly staple, hoping to reduce recidivism rates in the area. The restaurant serves pizza,...
Rick Ross was inspired to pursue business, following his mother’s entrepreneurial footsteps. The Mississippi-born rapper shot to fame with his 2006 breakout hit “Hustlin,” which led to him signing his first major record deal with JAY-Z at Def Jam, notes HipHopDX. “JAY-Z, I remember we went to eat after a game, and he was playing Rick Ross…‘Everyday I’m Hustlin,’” Former NBA player Jamal Crawford told Ross while they appeared on the “All The Smoke” podcast. “And Jay was mesmerized by the song. He was like, ‘Whip it, whip it real hard!’ He kept saying that part, he loved it.” Rick Ross became an overnight success and began prioritizing real estate as he accumulated his fortune, which is reportedly an estimated $150 million net worth today. According to Celebrity Net Worth, this encompasses $90 million earned from albums and singles, revenue from his record label Maybach Music Group (established in 2009), and other ventures. His decision to enter real estate dates back to his...