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malcolm-jenkins
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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...
Malcolm Jenkins is not slowing down in the fast-casual food space. As AFROTECH™ previously reported, the former NFL player leads Disrupt Foods, a multi-unit franchise developer and operator of quick-service restaurants. According to his LinkedIn, the goal is to create franchising opportunities for Black and brown communities. “If there’s a mission for me and how I’m moving now, what I want to have an impact on is really educating people on the power of group economics. People when they have success, most of the time they do it as a collective family, as a community. Owning businesses in their own communities,” he said. “When you look at [Black communities] we don’t own the majority of the businesses in it. We don’t own homes most of the time. It just continues to push us into pockets of poverty that are harder and harder to climb out of as an individual,” he told WHYY News. Leading by example, he established Disrupt Foods in 2016 alongside his business partner, Joe Johnson. “In 2016...
Christopher Cunningham, an entrepreneur based in Tampa, FL, now owns an entire block, Bay News 9 reports. Initially aiming to purchase just one building, Cunningham was offered the chance to buy the entire block at 9513 N Nebraska Ave. He now operates two businesses there: True Value Hardware and his water restoration company, Dry 24 “From the inside it looks really small but there’s actually 1.88 acres here,” he explained to the outlet. “Initially, I was just looking at buying the store. I got a chance to talk to Mr. Chelle, and he said, ‘You can buy the store, but you gotta actually buy the whole block.’” Cunningham, now the proud owner of five buildings on the block, hopes to see greater support for Black-owned businesses in Tampa, where 24% of the population is Black, per ABC Action News. “I think it’s important in the city of Tampa — Tampa is 24% Black — that there are more Black businesses and that the corporate partners and the people who receive tax dollars, the private...
Brandon and Shaleeza Collins have received special recognition as IHOP franchisees. The couple are proud owners of an IHOP restaurant in North Baton Rouge, LA, through an opportunity made possible by Brandon’s parents, Ella and Larry Collins. The two had been the original owners before selling the location to Brandon and Shaleeza in 2023, a news release mentions. “There were no sit-down restaurants, and they wanted to make sure that that need was fulfilled and to create a legacy for their family,” Shaleeza told Black Enterprise. Brandon added, “This legacy wasn’t just for the kids; it was a legacy for the community. We’re in North Baton Rouge; there’s not much here. There’s no economic development that happens here. Our IHOP is still the only national franchise, sit-down restaurant in North Baton Rouge — to this day.” Since taking on the restaurant, Brandon and Shaleeza have provided mentorship and career pathways for both the surrounding community and their family members. The...
Houston, TX, native Jennifer Ford’s passion for sneakers has led her to work with major apparel giants. Ford is currently the proud owner of Premium Goods, a sneaker boutique in Houston. The idea for opening the shop dials back to her days in New York, NY, following the completion of her economics degree from Emory University, her LinkedIn mentions. While in New York, it would spark her interests in women’s buying departments and women’s product development. However, it was not until she befriended Premium Goods-Brooklyn shop owner Clarence Nathan that Ford manifested her own sneaker boutique in 2004, located in her hometown. “It’s about being with other people who enjoy the same thing as me and [building] a community,” Ford told Vogue in 2023. With its opening in 2004, the Premium Goods Houston location reportedly became the first sneaker retail store in the United States led by a Black woman. Per Premium Goods’ website, the shop features major brands like Jordan Brand, Nike,...
Team ownership is not completely off the table for billionaire Mark Cuban. Cuban was former majority owner of the NBA’s Dallas Mavericks since 2000, purchasing stake in the team for $285 million, mentioned Fortune. At the time, he felt he was at an advantage due to his knowledge in technology and media. However, in recent years he recognized a shift towards real estate as necessary to be successful in team ownership. As a result, he chose instead to sell most of his stake to the Miriam Adelson family, controlling shareholder of Las Vegas Sands Corp., in December 2023 in a deal valued at $3.5 billion. He now maintains a 27% stake in the Dallas Mavericks and is in control of its basketball operations as well as serves as the alternate governor, according to the NBA. “When I first bought [the Mavericks] in 2000 I was the tech guy in the NBA. I was the media guy. I had every edge and every angle,” he explained on the “All-In Podcast.” “Now fast-forward 24 years later. In order to...
Yo Gotti is seeing a return on his investment in D.C. United. The “Rake It Up” rapper purchased a minority stake in the league in 2021 at a time when it was valued at $730 million, as AFROTECH™ previously reported. His foray was driven by his admiration for Jason Levien and Steve Kaplan, co-chairmen of D.C. United who have former ties to the NBA’s Memphis Grizzlies, which represents Yo Gotti’s hometown. “What I’ve seen them do in Memphis with the Grizzlies and just as businessmen in general; I wanted to be in business with them. D.C. United, I think, is a great organization and D.C. has always been, overall, one of my favorite markets, even as an entertainer,” Yo Gotti told The Athletic. “It’s always been one of my favorite cities to come to — the whole DMV area has always been one of my favorite places to come to. Being from Memphis, even when I was building outside of my tri-state area, I want to say that Maryland, Baltimore, those were some of the biggest shows I’ve ever done. So...
When Malcolm Jenkins secured stake in England’s Burnley FC, he made history in the process. Sports Illustrated reported the three-time Pro Bowl safety became an investor — through Malcolm INC and Disrupt Sports Partners — in the Burnley, Lancashire-based professional team within the English Premier League (EPL) back in 2021. He joined the new ownership group, ALK Capital. Jenkins, playing for the New Orleans Saints at the time, saw the opportunity as a perfect alignment to values that have been central to his business portfolio, noted a press release. He pointed to the club’s “tenacity, work ethic, good sportsmanship and efficient operational infrastructure.” His decision was finalized following a visit to the team’s Turf Moor stadium in England before watching the team, nicknamed “The Clarets,” play against Manchester City. “I think the club’s doing a great job with some of the updates around the stadium and to see the vision of where they want to go in creating a venue that’s not...
A family-owned restaurant in Brooklyn, NY, has received financial gains. Torri Clayton, a Harlem native, is the owner of Cheri’s Bedstuy, a venture that opened in 2019 to pay homage to her family and provide more southern cuisine comfort food in Brooklyn, NY. According to Black-Owned Brooklyn, Clayton collected the recipes her family passed down for generations to begin her own restaurant. The venture required sacrifice and risks. The restaurant owner maxed out her credit cards and took out personal loans to bring Cheri’s Bedstuy to life, “Good Morning America” mentioned. What she now calls a “labor of love” has led to menu items including grilled lamb chops, shrimp scampi, and fried lobster tails to be enjoyed by locals. “A labor of love. It was a dream that was realized,” Clayton expressed during a taping of “Good Morning America.” “It was a surprise to my family and the way that they just rallied, and trusted, and stood behind me to make this happen. I cannot be more thankful to...
The humble beginnings of Herman Moore were not going to stop him from achieving greatness, even beyond his playing days in the National Football League (NFL). According to Detroit Free Press, the former Detroit Lions player was taught by his mother the habit of looking at life from a broader perspective, a practice he maintained even in the face of financial difficulties. “She had me at 21 and worked so many jobs,” Moore told the outlet about growing up in Danville, VA. He continued, “We were a low-income family. We lived on less than $18,000 a year. But she made sure my sister and I always knew the endgame. We lived in government housing and were on food stamps, but that is not an excuse to not excel in life and to also help others.” Moore would lay his own foundation for generational wealth-building in 1991 after being drafted to the Detroit Lions and signing a three-year $2.4 million contract with the team, which included a $1.2 million signing bonus, according to Spotrac. Moore...
Former Xavier University (Louisiana) students unexpectedly tapped into a multi-billion-dollar coffee industry. It would all begin with an investment in Tesla. The Atlanta Business Chronicle reports that friends-turned-co-founders Leonard Lightfoot, Jamin Butler, Branden Cole, Gino Jones, and Christopher Bolden made the investment in the automotive company after taking a trip to Detroit, MI’s Motown Museum in 2015. During their visit, they learned about the parents of Berry Gordy, who started an investment fund that was supported by family members. Gordy took a low interest loan through the fund, which was a catalyst to the launch of the Motown record label.
It’s no question that Malcolm Jenkins has continuously been on the frontline in support of Black and brown entrepreneurs. Spearheading change through Broad Street Ventures, the first Black athlete-led venture capital fund, the two-time Super Bowl champion has been on go-mode since its launch. As previously reported by AfroTech, the $10 million investment fund further created space for Black and brown women after bringing India Robinson and Sara “Lovestyle” Hood on board as investors. Now, less than four months later, Jenkins is onto his next impactful venture under Malcolm Inc. — his holding company.