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Charles D. King has changed the entertainment landscape for the better. The Journey Born in Harlem, NY, and raised on the outskirts of Atlanta, GA, he showed early signs of being a businessman by selling supplies at school and even cutting neighbors’ grass, CNBC reports . He says his inspiration was his father, who founded a medical practice as a pediatrician. According to Forbes, King originally intended to also pursue a career in the medical field. “Seeing him leave a job to start his own practice. My mother was the first receptionist. It was just amazing watching it, but the other thing was the freedom that he had,” he told CNBC. King would follow that blueprint of ownership, but within the entertainment industry. As a political science student at Vanderbilt University, he showed an interest in recognizing talent. However, his pivot into the entertainment industry came during a two-year stint as a law clerk with a music attorney while at Howard University School of Law between...
Twitter co-founder and Block CEO Jack Dorsey just announced the official board members of his bitcoin development endowment in collaboration with Hip-Hop royalty Jay-Z. As previously reported by AfroTech, Dorsey has expressed interest in the power of bitcoin and other forms of cryptocurrency. He will now put some action behind the talk of using the digital form of currency to leverage his business. Jack Dorsey is following through on his commitment with Jay-Z to pledge 500 BTC to set up ₿trust, an endowment to fund bitcoin development focusing on teams based in Africa and India. When AfroTech first told you the news in February 2021, Dorsey mentioned needing three board members, but he’s now announced four. The team will take zero direction from Dorsey and Jay-Z when getting started.
Sean “Diddy” Combs knows firsthand how tough it is to break into the entertainment business, but his latest initiative aims to make that process a whole lot easier. The music mogul revealed that he’s inked a deal with WME in all areas to launch “The Excellence Program” — a free virtual development program and resume database designed for aspiring entertainment executives who come from underrepresented communities, Variety reports. According to the outlet, the new program — created in partnership with Endeavor — is a six-week experience that will offer eligible students insight on how to break into entertainment, marketing, music or fashion. As someone who’s had to carve his own lane in the industry, Combs aims to use this program as a way to pay it forward and level the playing field for all who aspire to lead in the entertainment business. “Beginning my career as an intern changed my life, so it’s been a lifelong dream to give the next generation of entrepreneurs and executives...
Inequities in funding for Historically Black Colleges & Universities (HBCUs) has been a deep-rooted issue in the American education system for decades. While the venture capital industry has vowed for years to invest in more Black and people of color, Silicon Valley venture capital (VC) firm Base10 Partners is following through on that promise with a unique initiative bridging the gap between VC and higher learning. A press release reports that Base10 Partners announced the raise of a $250 million fund for an initiative known as the Advancement Initiative — which aims to invest in tech companies and then take a portion of the profit from the fund and donate it to HBCU endowments and student scholarships. Base10 will reportedly create scholarships in the name of each of its portfolio companies to then fund the education of HBCU STEM students. Since debuting this past March, the fund has already completed eight investments in several tech startups, including Attentive, Nubank, Brex,...
Jay-Z just upped the stakes again. According to TechCrunch, the rapper-turned-multi-platform mogul has joined forces with Twitter CEO Jack Dorsey to fund bitcoin development in countries like India and select countries in Africa. The pair, who have invested 500 BTC in the fund, say they’re doing so in the hopes of making bitcoin “the Internet’s currency.” Jay-Z and Dorsey, however, are setting up the fund as a “blind irrevocable trust,” which means that both the grantor and beneficiary have no control over or knowledge of the assets in the trust or how they’re being managed. And, because it’s irrevocable, this agreement can’t be modified. Dorsey also confirmed that ₿trust — which is currently looking to hire three board members — will have no input from either him, or Jay-Z, on how the fund is managed. The reasons for the duo choosing India and select countries in Africa are completely different. While countries in Africa — especially Nigeria — have seen an uptick in the use of...
Leading global entertainment agency WME has appointed Gisselle Ruiz as its newest staff addition and head of inclusion. The former TikTok and seasoned diversity/inclusion executive has plans to help the Hollywood talent agency navigate the industry moving forward as it works to be “anti-racist and ally-oriented,” The Hollywood Reporter shares . Billboard reports that Ruiz will help oversee recruitment, retention and strategic partnerships via WME’s Beverly Hills headquarters to help drive the agency’s diversity, equity, and inclusion goals. Prior to her newly-appointed position, Ruiz served as a global talent acquisition leader at TikTok, where she was instrumental in leading diversity and inclusion initiatives and standards for the short video-sharing app. Additionally, she also worked in previous executive roles at CAA, Google, Walt Disney, and at the Broad Center non-profit, according to The Hollywood Reporter . Now, she joins the WME family as they and other Hollywood agencies...
NewME, the popular accelerator for entrepreneurs of color, today announced that it has been acquired by LightHouse–the parent company of the Cincinnati based Hillman Accelerator program. Entrepreneur Angela Benton, a mainstay in the tech world, founded NewMe in 2011 as one of the first online programs geared toward providing support for entrepreneurs of color. She created the program after seeing a lack of diversity in the tech industry and among underrepresented entrepreneurs who’d received funding for their ideas. NewMe launched in Silicon Valley and moved its headquarters to Miami in 2017. Since it’s launch, the program has helped secure over $40 million in venture funding for entrepreneurs of color. Benton posted her excitement about the sale on Instagram: View this post on Instagram A post shared by Angela Benton (@abenton) Hillman Accelerator was launched in 2016 by HelloParent founder Candice Matthews-Brackeen, former Cincinnati Bengals linebacker Dhani Jones, and...
John W. Rogers Jr. founded the nation’s first Black-owned mutual fund company and remains committed to expanding opportunities for other minority groups. Rogers comes from a family who upheld civil rights, fairness, and economic justice, he revealed in an interview with the SIU Paul Simon Public Policy Institute. It would be his father who sparked his interest in finance and economics. When Rogers was 12 years old, he received stocks as gifts for Christmas and his birthday. These included $200 worth of shares from companies such as General Motors and Commonwealth Edison, and he was able to pocket the dividends from those investments. “My dad was very insistent,” Rogers explained in the interview. “He wanted me to learn everything there is to know about the market, so he made me read the annual reports of the companies that were sent out every year, the quarterly reports that the companies would send out in those days, and I’d read about those companies.” His father also connected...
In 2025, America’s higher education landscape is being reshaped by a wave of federal funding cuts and political pressure from the Trump administration. Universities across the country are under scrutiny, not only for how they handle civil rights issues but also for their participation in diversity and inclusion initiatives. As a result, many schools have already begun scaling back their scholarship offerings , cutting graduate research funding and even laying off staff. This shift marks one of the most significant challenges to U.S. higher education in decades, particularly affecting institutions that rely heavily on federal research grants. With billions of dollars in play and political agendas now influencing financial support, students and faculty alike are facing an uncertain future. The Federal Clampdown On Higher Education (RUT MIIT/Unsplash) The Trump administration’s approach to federal funding has caused ripples across nearly every sector of higher education . Historically,...
CoCo Gauff is on a mission to “take greater ownership” of her tennis career, starting with launching her own management agency. On Wednesday, April 2, Gauff, describing herself as an “athlete, entrepreneur, and changemaker,” announced the launch of Coco Gauff Enterprises. The initiative is supported by talent representation agency WME (William Morris Endeavor), which Gauff asserted has the “vision and resources to help me explore all of the opportunities ahead.” “From the moment I first picked up a tennis racket, I’ve always believed my purpose extended far beyond the court,” Gauff’s post said. “Today, I’m thrilled to announce CoCo Gauff Enterprises, a venture that reflects my passion for making an impact—not just in tennis, but in business, philanthropy , and beyond.” View this post on Instagram A post shared by Coco Gauff (@cocogauff) The venture marks the end of Gauff’s partnership with Team8, the boutique agency co-founded by former Swiss professional tennis player Roger...
We are giving our flowers to Black leaders who are shaping the future. Established in 2022, the AFROTECH™ Future 50 list will commemorate innovators, visionaries, founders, venture capitalists, technologists, and changemakers in the technology sector who have made historic strides, lifted as they climbed to create a more inclusive future, and are transforming their sectors and communities. AFROTECH™ Future 50 Categories There are five categories for submission. The Dynamic Investors category highlights venture capitalists who have not only driven strong returns but have also championed underrepresented founders in technology. A prime example is Charles Hudson, founder and managing partner of Precursor Ventures, which manages over $175 million in assets and has made more than 413 investments, according to Carta. Next, the Future Makers category will honor Black professionals who have achieved historic firsts, earned industry recognition, launched groundbreaking products, measured...
Happy wife, happy life is how the saying goes. Tracy McGrady will agree. The basketball legend, nicknamed T-Mac, was drafted into the NBA by the Toronto Raptors in 1997. He was just 18 years old at the time and had played high school basketball for North Carolina’s Mt. Zion Christian Academy. He signed a three-year rookie contract valued at $4,689,480, per Spotrac. This was not, however, his first lucrative contract. Just ahead of the 1997 draft, his talents landed him a $12 million shoe endorsement deal with Adidas, as AFROTECH™ previously reported. Making that kind of money at 18 came with its learning curves. McGrady grew up in a household with his mother working as a custodian at Disney while his grandmother was a custodian at his elementary school for three decades. No one in his family earned over $40,000. “You can only imagine I’m 18 years old. I don’t have a family that has taught me financial literacy. I don’t know anything about it. So all of this is just trying to figure...
Tracy McGrady has long aspired to team ownership, and now that he’s secured a stake in the NFL, he’s dedicated to increasing representation in the league. As AFROTECH™ previously reported, the basketball icon was announced as a minority owner of the Buffalo Bills in December 2024. He joins his former Toronto Raptors teammate and fellow Florida native, Vince Carter, as part of a group of 10 limited partners, which also includes soccer star Jozy Altidore. This marks the first time the Bills, owned by Terry and Kim Pegula, have expanded their ownership group. “I’ve always wanted to be an owner of a franchise and really didn’t care whether it’s the NBA, a soccer league, whether it’s in the NFL,” McGrady explained in an exclusive interview with AFROTECH™ held at a private reception that was hosted by Diverse Representation and William Morris Endeavor (WME) on Saturday, Dec. 8 to honor Black professionals in sports. Kevell Byrd McGrady also reveals the backstory behind becoming a minority...
Floyd Mayweather reportedly has an interest in another major investment move. As AFROTECH™ previously told you, the boxing champion closed a real estate deal valued at $402 million in October 2024. The investment encompasses over 60 buildings with over 1,000 units in New York, NY, and its purpose is to establish affordable housing in the city. “Growing up, I used to dream about owning just one home by myself. When you work hard, you can achieve anything,” Mayweather told TMZ. Mayweather also has a stake in nine skyscrapers in partnership with SL Green and established real estate firm Vada Properties. He committed to investing $100 million in equity to support a $3 billion luxury rental portfolio alongside Go Partners. His latest moves include potentially extending his portfolio to secure a stake in the New York Giants. According to TMZ, he is leading a group that intends to acquire a security minority stake valued at 10%, amounting to around $700 million. Currently, a proposal is...
Meta is being sued for allegedly directly contributing to education inequities in Black communities. A lawsuit filed by the Lawyers’ Committee for Civil Rights Under Law, the Washington Lawyers’ Committee for Civil Rights and Urban Affairs, and Emery Celli Brinckerhoff Abady Ward & Maazel LLP on behalf of the Equal Rights Center (ERC) cites that Meta’s algorithm has shown bias by directing ads for for-profit colleges and universities to Black communities. In contrast, more ads featuring public and nonprofit colleges and universities were shown to white users. “Relegating Black students to receive information about for-profit schools, which often provide lower quality education at greater financial cost, also sends a negative message about who belongs in which types of institutions,” a statement from an email sent to AFROTECH™ by the Lawyers’ Committee for Civil Rights read. The difference between the two types of institutions is that for-profit colleges focus on generating profits...