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Tennis champ Coco Gauff continues to win and inspire. For the past two years, Gauff has been the highest-paid female athlete in the world, AFROTECH™ previously reported. The 21-year-old earned $30.4 million in 2024, which includes her prize earnings and endorsement deals such as Naked Juice, Bose, Wheaties Cereal, Carol’s Daughter, and Rolex. View this post on Instagram A post shared by ROLEX (@rolex) The Atlanta, GA, native won the 2025 French Open on Saturday, June 7, in Paris, defeating Aryna Sabalenka 6-7, 6-2, 6-4 to secure her second Grand Slam singles title after winning the 2023 U.S. Open. The win marks Gauff’s 10th career title and first Women’s Tennis Association title of the year. Earning $2.9 million from this win brings her total prize earnings to $27.3 million, according to Sportico. She took to Instagram to reflect on what the win meant to her, shedding light on the doubts she had previously held and overcome. “Waking up and starting to realize it was indeed not a...
Grammy Award-winning singer Kirk Franklin has deepened his partnership with a media and entertainment company, which will increase funding for his creative endeavors. Franklin’s Fo Yo Soul Recordings and CLTRE Lab merged with Insignia Assets, established by Norman Gyamfi and Jonathan Jay, according to Billboard . The companies will be able to benefit from Insignia Assets’ portfolio, which encompasses recorded music and publishing, television, film, touring and events. The gospel artist will assume a new title, serving as Insignia Assets’ chief of creative services. “We’ve worked with Kirk for some time now—from the 2022 release of the multi-GRAMMY®-winning collaborative album, Kingdom, to producing sold-out arena tours with him consecutively over the past few years,” Gyamfi, Insignia Assets’ co-founder and CEO, told the music publication. “Today, we’re thrilled to fortify and deepen our partnership by welcoming Kirk to our executive team and by charting a course for the future with...
Track stars Sha’Carri Richardson, Gabby Thomas, and Tara Davis-Woodhall are investing in familiar territory. What Is ATHLOS The trio has teamed up to join the ownership group of the ATHLOS track and field league. ATHLOS, launched in 2024 by Alexis Ohanian, Reddit founder and Serena Williams ‘ husband, began as an all-women’s track and field meet. According to Forbes, ATHLOS will return to New York, NY, for its 2025 meet but will scale into a full-fledged league starting next year. The team-based league’s website states that it will feature some of the fastest athletes in the world, span multiple cities, and build momentum toward a championship event. “ATHLOS is shifting gears, moving from a solo spotlight to team-centered showdowns where participating athletes will compete for teams, not just times. It’s still blazing fast, but with teams to cheer for,” the website mentions. ATHLOS offers $60,000 in prize money to the winner of each event across the meet, and 10% of all event...
Shelton Jackson “Spike” Lee has made an indelible mark on the landscape of American cinema. With groundbreaking films like “ Do the Right Thing” (1989), “ Malcolm X” (1992), and “ BlacKkKlansman” (2018), Lee has provoked thought and dialogue on pressing societal issues. His directorial prowess has earned him critical acclaim, including an Academy Award for Best Adapted Screenplay for “BlacKkKlansman” in 2019. So, with all his cinematic success, what is Spike Lee’s net worth in 2025? Let’s take a look at his achievements and the numbers that have made Lee one of the most recognizable movie makers in the industry. From Atlanta Roots to Brooklyn Living Born on March 20, 1957, in Atlanta, Georgia, Shelton Jackson Lee was the eldest child of Jacqueline Carroll, an arts and literature teacher, and William James Edwards Lee III, a jazz musician and composer, per TV Insider . During Lee’s early years, the family relocated to Brooklyn, New York, settling in the Fort Greene neighborhood. It...
Chris Paul, Dwyane Wade, and Carmelo Anthony have teamed up to award several HBCU students with scholarships. The trio is behind the Social Change United Fund, which was created in response to racial injustice, pooling their collective resources to support communities of color, its website mentions. It aims to create equity in entrepreneurship, leadership, and innovation. “It started back in, I want to say, 2020,” Anthony told Fast Company. “It was a real moment. We were watching a moment in society and our community, and our country, and it’s right in front of our faces, and the world was watching. It was a moment where I had to figure out, ‘Da-n, what do I want to do?’ And I think everyone was asking that same question. We just talked, came together, and we founded the Social Change Fund United.” He continued, “What we did was create a really clear vision on what we wanted to do on strategy, how do we advance equity, how do we advance social justice, criminal justice reform,...
Actress Keke Palmer credits director Jordan Peele for being the first to pay her adequately. View this post on Instagram A post shared by ELLE Magazine (@elleusa) In an interview with Business Insider, Palmer cited Jordan Peele’s 2022 film “Nope,” in which she starred alongside Academy Award winner Daniel Kaluuya, as the first time she was paid properly. Recognizing the importance of proper compensation and pay equity in Hollywood, particularly for Black actresses, Palmer said she does not measure her circumstances with others. “I don’t compare — especially as a Black person, a Black woman — because it’s not a fair thing to do to myself,” Palmer told Business Insider. “I don’t think that comparing oneself makes sense in any regard, because you’re not at the same vantage point, beginning or otherwise, as someone else.” She added, “If you are getting your needs met, that has to be at the forefront of your mind. That doesn’t mean that everything is fair, but it’s an important thing to...
Salt-N-Pepa are taking Universal Music Group (UMG) to court. Comprised of Cheryl “Salt” James and Sandra “Pepa” Denton, the rap duo Salt-N-Pepa — who has released 11 albums since their debut in 1986, according to Genius — has filed a lawsuit over their masters . According to the Associated Press, they allege that ownership of their masters should be transferred to them and that UMG is in violation of the Copyright Act of 1976, which states that artists have the right to reclaim ownership of their masters and can void previous agreements after several decades. In 2022, the pair first filed to terminate the terms they had established with UMG, stating they were “eager to retake full ownership of their art and legacy,” and adding, “inexplicably, UMG has refused to honor” their rights. The pair believe they should have ownership of their masters for albums such as debut “Hot, Cool & Vicious” (1986), “Push It” (1987), and by 2026, “Very Necessary” (1993). In response, UMG said in a June...
Issa Rae doesn’t just produce hit shows — she creates cultural experiences, too. The entertainment mogul and serial entrepreneur has expanded her hospitality footprint with the recent launch of Downtown Dough, a funk-inspired pizzeria and cocktail bar in downtown Los Angeles, the Los Angeles Times reported early May 2025. According to the publication, Downtown Dough is the latest collaboration between Rae and her partners, Yonnie Hagos and Ajay Relan, under their growing hospitality group, Good Vibes Only ( GVO) . By day, the 6,000-square-foot space continues as Hilltop Coffee + Kitchen, a beloved community hub Rae helped scale across Los Angeles . By night, it transforms into Downtown Dough, which its website states is a “vibrant dining experience that is inspired by the free and forward era of the ’70s.” As far as the menu, expect wood-fired, Neapolitan-style pizzas with garlic oil-brushed crusts, and toppings such as truffled cream fondue, Fresno chiles, and Manila clams. Beyond...
Ashanti is more than a Grammy-winning singer . She’s a businesswoman, actress, and entertainment industry mainstay who’s remained relevant for over two decades. Bursting onto the scene in the early 2000s with a voice that defined a generation of R&B, Ashanti quickly transitioned from chart-topping newcomer to multifaceted mogul. Her work with Murder Inc., her successful solo career, and later ventures in film, publishing, and entrepreneurship have all contributed to her staying power and growing wealth. So, how much is Ashanti’s net worth today? How did she build that net worth over the years? Let’s take a look at her earnings, assets, and the business decisions behind her success. Breaking Records In The Early 2000s Ashanti’s career took off in 2002 with the release of her self-titled debut album. It sold over three million copies and went triple platinum within months. That same year, she became the first female artist to hold the top two spots on the Billboard Hot 100 chart...
SZA is thanking Beyoncé for a kind gesture tied to her sophomore album. SZA released her long-awaited sophomore album “SOS” on Dec. 9, 2022, featuring 14 tracks, including “Snooze,” “Love Language,” and “Kill Bill,” the latter of which earned the artist her first No. 1 on the Billboard Hot 100 chart in 2023, notes Billboard. “The sound is a little bit of literally everything. It’s a little angry as an overview, but some of it is really beautiful and soft and heartfelt. It’s about heartbreak, it’s about being lost, it’s about being pissed,” she told People in regards to the album. “It’s my first album in five years, so I’m ready to be a different person and step into this new part of my life.” Like with any music project, collaborations with various producers, songwriters, and other artists are key to help an album reach the finish line. It appears SZA’s project was no different as Beyoncé also contributed to her first single, “SOS,” which features an interpolation of Beyoncé’s song...
Michael Strahan is reportedly looking to invest in his former team. Strahan was drafted by the NFL’s New York Giants in 1993 as a 40th overall pick, according to Sports Illustrated. He remained with the team throughout his 15-year career, stamping field achievements such as 850 tackles and over 135 sacks. In 2008, he won the Super Bowl, which he says changed his life permanently. “That Super Bowl was the biggest thing – that’s pretty much one of the biggest things to ever to happen to me,” Strahan expressed, per Big Blue View. “Winning that Super Bowl, especially in the fashion we did it, against the team that we did it against with that record that they had, definitely put me in a different light to a lot of people – which has led to an incredible life.” Nearly four months after the major victory, Strahan announced he would retire from the league, forgoing a $4 million contract for the 2008 season, The New York Time reported. Strahan amassed $76 million in earnings throughout his...
Megan Thee Stallion is set to become a franchisee! The Houston, TX-born rapper is diving deeper into her entrepreneurship bag. As AFROTECH™ previously told you, through her music career, she already has full ownership of her master recordings and publishing thanks to her deal with Warner Music Group. She has also gone on to launch her own tequila brand, Chicas Divertidas. At the time of this writing, the brand boasts two offerings: Blanco and Reposado. Photo Credit: World Red Eye “As someone who values good vibes and great memories, I knew I wanted to create a tequila that was designed to be shared and savored with my Hotties,” Megan Thee Stallion said in a news release shared with AFROTECH™. “Smooth, sultry, and premium. This process has been years in the making, and I’m so proud to take this next step in my journey as an entrepreneur and launch this brand. I know the Hotties are ready, it’s time to give them a drink made by me! I’m excited to share this labor of love with you all...
Bobby Brown reveals the one business move he wish he had implemented at the start of his career. Brown’s rise to fame was through New Edition, which also included members Ricky Bell, Michael Bivins, Ralph Tresvant, and Ronnie DeVoe. The group infamously got their start in the industry after signing a $500 deal with musician and producer Maurice Starr, as AFROTECH™ previously told you. Their hit singles include “Can You Stand the Rain” and “If It Isn’t Love.” Brown later went solo after being voted out of the group, launching a highly successful career that saw him sell over 12 million physical copies. The success of his sophomore album, “Don’t Be Cruel,” alone was enough to set him up for life. He also made several business moves that benefited his career, including his publishing deal, which was structured by his mother and management team. “I saw a lot of it, because my deal was situated in a way where I made dollars on each record, not pennies,” he said on the “Club Shay Shay”...
Bobby Brown’s mother had a hand in his publishing deal that is still sending him checks today. Brown is an R&B crooner whose music career began with the boy group New Edition. The group was formed in the Orchard Park Projects of Roxbury, Boston, MA, and originally included Ricky Bell, Michael Bivins, and Brown. Ralph Tresvant and Ronnie DeVoe joined later, notes The Grio. Their claim to fame was participating in a talent show in 1983 where they finished in second place, catching the attention of musician and producer Maurice Starr. The group signed to Starr under a deal with a $500 bonus . “Our royalty check was like $168 but we got $500 to sign and a VCR… We didn’t know anything about it,” Brown acknowledged on the “Club Shay Shay” podcast with Shannon Sharpe . “All we wanted was to perform. All we wanted to do was make enough money to go to the movies, buy candy, date girls. That’s all we thought about. We wasn’t thinking about the longevity.” New Edition then released their debut...
Kevin Hart wants entrepreneurs to be equipped in artificial intelligence (AI). AI is sweeping across various industries. While some remain skeptical, adopting it will be essential to avoid being left behind in a rapidly changing landscape. “The train is coming and coming fast,” Hart told Fortune. “Either you’re on it, or if not, get out of the way.” As AFROTECH™ previously told you, Hart partnered with the Fifteen Percent Pledge and A16z’s Cultural Leadership Fund for the AI Illumination Grant that will disperse $35,000 in funding to Black founders, with the winner receiving $20,000. Considerations for recipients include: High potential for growth Sustainable competitive advantage Strong management team Strong use case for AI tools Grant dollars to manage growth challenges and expansion Prioritizes inclusivity and centers community impact Coramino Fund Hart is taking further action through his Coramino Fund — the investment arm for his tequila company Gran Coramino that is in its...