Ariel Alternatives has announced the raise of $1.45 billion for Project Black LP, the first private equity initiative of Ariel Investments.
Feb 2, 2023
Mellody Hobson is set to join a small group of Black women who have an equity stake in a National Football League (NFL) team. Most recently, Hobson managed to put her bid in to purchase the Denver Broncos thanks to a partnership with an ownership group.
Jun 9, 2022
Did you know that there are Black billionaire wives? That’s right: these Black women are married to some of the richest men in the world. Interestingly, too, these Black women aren’t just married to Black billionaires — some are married to white ones. While many of the Black Billionaires in the United States are self-made, the story changes when the Black billionaire 2021 list is expanded to a global scale. Of the world’s Black billionaires, the ones based in Africa and Europe have access to resources — money, raw materials, labor — that their American counterparts do not have. In May 2021, Forbes released its list of billionaires all over the world. And while it was impressive to see more than 2,700 men and women on the list — a jump of 660 from the previous year — only a small handful (less than 1 percent) of the billionaires on the list are Black. But what about their partners? Black billionaire wives are an elite group of Black women that are worthy of respect all on their own....
Aug 3, 2021
Here’s something to raise your coffee cups to! Starbucks just named Mellody Hobson as the new chair of its board of directors, making her the first Black woman to hold the role at the company, reports CNN Business. Hobson is currently the co-CEO of Ariel Investments, an asset management firm, and will step into her new position this forthcoming March. Since 2005, she has been a director at the company and will now replace Myron E. Ullman, III who has been the chair since 2018. Hobson has been among the many who’ve called for companies to put action behind increasing diversity among their leaders. “Companies right now have to get their houses in order,” she said during an appearance on “CBS This Morning” in June. “The board of directors have to hold the leaders of these organizations accountable around these issues of diversity.” As a woman that wears many hats, Hobson is also a director of JPMorgan Chase and previously held positions as a director of Estée Lauder, and was the chair...
Dec 10, 2020
Since the Black Lives Matter Movement began to create new dialogues on race relations around the country, higher education has been at the forefront of a lot of the conversations for change. Princeton University is the most recent institution to change the narrative. The Ivy League university announced — this week — that it has received a donation from alumna, Mellody Hobson. They also revealed the Hobson/Lucas Family Foundation is set to help convert Wilson College into Hobson College, making it the first-ever new residential college named after a Black woman in the university’s history. Hobson is the president and Co-CEO of the country’s first minority-owned asset management firm, Ariel Investments. She is also the former chairwoman of DreamWorks Animation and according to The Daily Princetonian , in 2017 she became the first Black woman to lead The Economic Club of Chicago. “No one from my family had graduated from college when I arrived at Princeton from Chicago,” said Hobson in...
Oct 9, 2020