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Many singing shows have come and gone since American Idol was in its prime, but few contestants have made as much of an impact without actually winning as Jennifer Hudson. You might recall the Chicago native from season three of the reality series, where she quickly won over the hearts of audiences with her stellar vocals and down-to-earth energy. Much to the viewers’ surprise, Hudson was voted out early in the competition, but she didn’t let that stop her from pursuing her dreams. Instead, Jennifer Hudson’s net worth is now in the multimillions thanks to her decades of dedication to her craft . The mother of one is the youngest of three on her maternal side but found out as a teenager that her absent father was responsible for 26 other children. She was only seven when she took an interest in singing in the church choir, and it was her grandmother, Julia, who encouraged Hudson to get involved in community theater. She’s cited Whitney Houston, Patti LaBelle and the late Aretha...
When it comes to turning dreams into reality, hard work, dedication, perseverance, and opportune moments are more critical to success than an arbitrary timeline based on age. However, society continues to pressure people to grind harder and rest less, as if patience isn’t a virtue. History has proven that time is only a construct, noting that it is never too late to manifest dreams. Whether they had a breakout moment in their late 20s or figured out the secret formula in their 30s, these celebrities prove that dreams never expire. Jay-Z The 54-year-old rap legend didn’t have his breakout moment until he dropped his first album, Reasonable Doubt , at age 26. He is now an accomplished billionaire in the music game, with several businesses and investments in his portfolio. Lupita Nyong’o View this post on Instagram A post shared by Lupita Nyong’o (@lupitanyongo) Many people’s first introduction to Nyong’o was her performance in the critically acclaimed film “12 Years A Slave.” Although...
From benefits to ballin’, this Black woman millionaire story is nothing if not inspiring. Arnita Johnson-Hall told her inspiring story to CNBC, and her achievements are nothing if not remarkable. The story begins in 2007, when she was a single mother living in Dallas, TX, and working a dead-end job making a measly $12/hour. Because she was making such a pittance, this future millionaire qualified for all sorts of public assistance programs — including Section 8 housing. And without it, there would be no way she’d have survived. “ My entire income went towards rent, gas, daycare, and, regrettably, payday loans in order to survive until my next paycheck,” she explained to the outlet. When Johnson-Hall was offered a $60,000/year job, it looked like there was a light at the end of the tunnel. But then, when the company ran her credit, she was denied for having a score below 400 (It’s worth noting that while some states — including Texas — permit employers to run credit checks on their...
If it weren’t for injuries stemming from baseball, Micah Johnson would have never had an NFT collection worth millions of dollars. Johnson’s story was recently told in Fortune Magazine, where he revealed that, per CryptoArt, the primary and secondary sales of his NFT collection totaled $19 million. But that’s not how things were meant to go in his initial plan. Johnson started out as a baseball player. From 2015 to 2017, he played for teams like the Chicago White Sox, the Los Angeles Dodgers, and The Atlanta Braves. But after suffering a series of injuries, including a torn shoulder and a fractured wrist, Johnson hung up his baseball mitt and picked up a paintbrush, devoting his time to becoming a full-time visual artist. But things changed again in 2019 when Johnson realized he was expecting a child with his long-term partner. He’d learned about NFTs as a way to possibly make more money selling his art, and put together his first NFT collection. The first sale from his digital art...
We’ve all heard the stories about Black millionaires making their dreams come true through impossible odds. But Jherrod Thomas of the Tomco Service Group has a very different story. The 32-year-old engineer from Mississippi is a walking testament that success can be achieved through hard work, dedication, and a 9-to-5 job. Yes, you read that correctly: a 9-to-5 job. That’s not something the Instagram hustling crowd necessarily wants you to hear or see, but it still is quite relevant — and a much more reliable way to make that coveted million. “After years of working in my 9-5 job, and barely making it through the month, I determined that I would need to do something different if I wanted to live a more bountiful life,” Jherrod Thomas said in a statement. “I started to grab as many books I could find on wealth building, investing, financial literacy, and engineering. I knew that if I combined my current skills with wealth-building knowledge, I could achieve the goal of earning one...
If you watch television long enough, you’re led to believe that Black women millionaires only exist in the public eye. The acting, modeling, singing, and “influencing” girlies certainly have their place in the business world — and far be it from us to say otherwise. But for those of you who wish to pursue your wealth anonymously, in peace and quiet, without strangers in your business on Instagram all day, there’s more than a little bit of hope for you. Earlier this year, CNN released a report about the wealth gap between Black women — especially — and their non-Black counterparts. “America’s Black women hold more than 90% less wealth than American White men,” reported the outlet. “ Only 0.5% of Black women own their own businesses — White men are 24 times more likely to own their own business than Black women. Access to funds and investment is a major barrier to successfully opening a business — Black business owners are 20% less likely to fund their startups with bank business...
Some of the world’s biggest athletes have climbed their way to the top, not just off their stellar abilities on the court, but their prowess in the business world as well. The secret to athletes keeping their legacy going is making money moves outside of their sports careers. Nowadays, athletes having a business reputation is just as important as having a championship title to their name. Smart investments, sponsorships and partnerships go a long way in securing the bag long after their playing days are over. Between money from their sports salaries, fame as elite athletes and their many business ventures, today’s sports figures are all about stretching their wealth to build major business empires. In case you didn’t know, here are some former and current sports stars who have defied the odds to make a fortune beyond sports:
There’s a stereotype regarding Black billionaires and Black and wealthy individuals where many believe fortunes mostly come from being musicians, actors or athletes. This sends a message that we cannot obtain wealth outside of these industries, but that’s far from the truth. In fact, there are many Black millionaires in the United States that have found success outside of music, sports and entertainment. Unfortunately, the same cannot be said for the amount of Black billionaires that are too scarce compared to white billionaires who dominate in industries like the tech space. According to Forbes’ 2021 World’s Billionaires List, there are 724 billionaires in America yet only seven of them are Black. That’s just enough to seat at one dining room table since Black billionaires only make up less than one percent of the nation’s billionaire population. This low number comes as no surprise, but it’s an alarming figure that highlights the widening racial wealth gap in this country. Yet...
Before the world recognized social media as a lucrative industry, influencers — before the proper term was coined — were stigmatized across platforms for choosing a field that wasn’t considered a “real” career. Lifestyle influencer and mother JaLisa Vaughn-Jefferson experienced this firsthand from her own family after she left her corporate job to pursue her new passion as a full-time content creator. “They lost it,” the influencer tells AfroTech after breaking the news of her decision. “It was so funny because they were trying so hard to be supportive. For their generation [this field] just doesn’t make sense. [At first] I didn’t really know what I wanted to do, so I was prepared to just try out different careers. I knew I wanted to be in technology and I knew I loved social media, but I wasn’t sure what the exact job title would be.”
For generations, Black Americans have been taught that our golden ticket to wealth and becoming Black millionaires is by making it as athletes or entertainers. But that’s a very one-sided picture that has been painted for us that fails to acknowledge the many Black entrepreneurs that found success outside of those expectations. Individuals beyond the realm of big-name sports figures, music and movie stars have managed to use their intellect and skills to break into the millionaires club. Thus, dispelling the myth that Black people can only reach seven figure incomes from arenas and stages. Of the many Black millionaires that thrive in sports, music and entertainment, here are some who represent across finance, tech, and real estate.
A new Cleveland retail development named after Madam C.J. Walker — America’s first Black woman self-made millionaire — is underway. According to News5Cleveland, the development will be located in the Hough district of the city. A portion of the space will be specifically dedicated to Black entrepreneurs in the hopes that it will entice Black businesses to grow in the area. Kareem Abdus-Salaam of Structures Unlimited, the Maryland-based developer of the retail space, said that he modeled the development after Madam C.J. Walker, herself, and the philosophy she had throughout her life. “She [Walker] made sure that dollar turned over in the community four to five times before it left,” he said to News5Cleveland. “Not so much a nostalgic but a way to show folks we, too, can do this renaissance again to really turn that money in our community again in modern times because we have much more money. And in terms of GDP, we should be able to do that faster and quicker to revitalize our...
Single moms often bare the burden of supporting an entire family, both at home and on the job. But when New Orleans native Mignon Francois was offered the opportunity to turn her baking talents into a lucrative business, she took the last $5 that she had to feed her family and turned it into a million-dollar company. From 2005 to 2007, Francois found herself struggling to financially support her family after a Nashville job offer for her then-husband fell through. Fortunately for her, a nearby neighbor knew of her baking talents and offered her what seemed like the opportunity of a lifetime, Black Business reports. Her neighbor approached her with a cupcake request, ordering 600 total with each priced at $1. Though she knew she only had $5 left to her name, Francois proceeded to purchase the ingredients to start baking at least 60 cupcakes – turning around a $60 profit that same day. Since then she’s continued to bake and went on to launch her business, The Cupcake Collection —...
If you love Black comedy, then you’re likely familiar with Broderick Stephen Harvey, better known as Steve Harvey. He’s a successful comedian, broadcaster, author, game show host, and businessman. His strong drive and talent are major contributors to his success. Just how successful is Steve Harvey? Let’s take a look at his net worth. How Steve Harvey Went From Rags to Riches Steve Harvey has an estimated net worth of $200 million. He’s well-known as the host of “The Steve Harvey Morning Show,” as well as the popular game show “Family Feud.” Harvey also starred in his own sitcom, “The Steve Harvey Show” for five seasons. Steve Harvey hosted “ Showtime at the Apollo” and has appeared in many stand-up comedy acts. Not to mention, he’s an accomplished author of the self-help book “Act Like a Woman: Think Like a Man.” As a man who has seemingly done it all, it’s no surprise that Steve Harvey has a quite considerable net worth. With a total net worth of $200 million, Harvey’s estimated...