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Actress and trailblazing producer Marsai Martin is taking her commitment to youth empowerment to the next level. Through her nonprofit, Marsai’s Way Foundation , the young mogul has partnered with Seeds of Fortune Inc. to reach 10,000 young women over the next three years with financial education, mentorship, and access to wealth-building resources, according to a press release. The partnership officially kicked off June 6 at the Seed Forum: Women of Color Creating Wealth Summit, an event designed to offer young women a rare opportunity to connect with financial leaders and gain insight into how they can grow into economic powerhouses of their own. “At Seeds of Fortune, we believe education is the foundation of economic equity,” Nitiya Walker, founder and executive director of Seeds of Fortune Inc., said in a statement. “Our partnership with Marsai’s Way Foundation allows us to scale this mission and deliver financial literacy, mentorship, and career access to thousands of young...
Tyler Perry says he has done more to support Black talent and generate wealth for his community than Hollywood has. The billionaire made the comments during a speech on Monday, June 9, at the 2025 BET Awards, which celebrated 25 years of Black excellence in entertainment. Legends Jamie Foxx, Mariah Carey, Snoop Dogg, and Kirk Franklin were also honored with the Ultimate Icon Award. The event featured performances from artists such as GloRilla, Leon Thomas III, and Lil Wayne as well. Perry, who has the largest Black-owned studio in America, delivered a powerful message about the resilience of the Black footprint and encouraged attendees to continue striving for excellence. “I have made more Black millionaires — hear me when I say this — than any studio in this city combined because I’m making footprints,” Perry said. “So I don’t care if you’re struggling, if you’re trying to make it, you’re trying to build a business. If you have a dream, keep making footprints.” View this post on...
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...
Byron Allen is selling local television stations owned by his Allen Media Group (AMG), with investment bank Moelis & Co. handling the deal. The portfolio consists of 28 stations affiliated with ABC, NBC, CBS, and Fox, operating in 21 U.S. markets, including Tupelo, MS ; Honolulu, HI; Flint, MI; and Tucson, AZ, according to The Hollywood Reporter. Allen said AMG began investing over $1 billion six years ago to build a portfolio of “big four” network-affiliated television stations. “We have received numerous inquiries and written offers for most of our television stations and now is the time to explore getting a return on this phenomenal investment,” Allen said, per THR. “We are going to use this opportunity to take a serious look at the offers, and the sale proceeds will be used to significantly reduce our debt.” As the media landscape continues to evolve, AMG has been navigating industry challenges and, over the past year, has implemented a series of measures to streamline...
A financial boost could be on the way for many Americans this summer, as the Internal Revenue Service (IRS) prepares to distribute tax refunds in June and July. For eligible taxpayers, IRS tax refunds close to $3,000 may be deposited into bank accounts or mailed out within the month, as Mint reports. Who’s Eligible? According to the outlet, taxpayers who submitted their 2024 tax return before the end of May 2025, or filed for an extension, may be eligible to receive the refund. Eligibility is also determined by the accuracy and completeness of your return. If your paperwork was filed electronically and you opted for direct deposit, you’re more likely to receive your refund faster than someone who mailed in a return or is receiving a paper check. The IRS has emphasized that e-filers with no significant errors or missing information, whose returns are not under review or audit, will be prioritized. That means if you submitted your return accurately and early, you could see your refund...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. WNBA superstar Angel Reese and former NBA superstar Magic Johnson joined forces recently to create Wealth Playbook , a financial literacy program for high school students in Baltimore, MD. The program is a partnership between the Angel C. Reese Foundation, the Magic Johnson Foundation, and Pull Up Neighbor, an advertising firm focused on community outreach. Through the program, students will learn how to manage their money and build long-term wealth. The program is split between four sessions, with beginnings at Saint Frances Academy, Reese’s former high school in Baltimore. The first session was a lesson in budgeting, understanding credit, and basic money-management skills. There’s no denying that financial literacy classes are needed, but who really gets to benefit from them? Both Johnson and Reese have basketball in common, but they are also in a privileged position to have so many resources at...
Was Verizon honest about its commitment to upholding DEI? Back in March 2025, AFROTECH™ reported that the company had not aligned itself with the White House or conservative pressure to retract diversity, equity, and inclusion (DEI) commitments. At the time, Verizon emphasized the importance of nurturing an inclusive environment and reaffirmed its support for diversity across the board. “We care about diversity in both our employees and our suppliers. Diversity and inclusion is how we achieve success,” a statement on the company website had previously read. “By celebrating diversity across all spectrums, including but not limited to race, national origin, religion, gender, sexual orientation, gender identity, disability, veteran/military status, and age, we are a stronger company and culture. “We take pride in our talented and diverse team of people who focus on our customers, every day. Their combined intelligence, spirit and creativity make Verizon a great place to work, learn and...
At a time when many billionaires were expanding their empires or chasing vanity projects, Bill Gates was choosing a different path. According to Fortune, the Gates Foundation, one of the most influential philanthropic institutions in modern history, has announced a final, ambitious chapter: a $200 billion commitment over the next 20 years to tackle some of humanity’s most pressing problems, after which the foundation will close its doors permanently. This is not a rebranding effort or a gradual fade into the background. It is a strategic decision to concentrate every remaining resource for maximum global impact. With this move, Gates places a historic bet on humanity’s ability to collaborate, innovate, and confront inequality head-on. Gates Foundation Sets 2045 As Its Final Year Gates is donating nearly all of his remaining personal wealth—an estimated $100 billion—to the Gates Foundation, effectively doubling its resources. The foundation will now operate with a projected total of...
Angel Reese and Magic Johnson have more in common than just their love of basketball. Both Johnson and Reese have found success beyond the sport. In the business world, this has translated into significant achievements for the two: Johnson is now a billionaire , and Reese has established herself as a multi-millionaire student-athlete who successfully transitioned to the WNBA and now holds a multi-year partnership extension with Reebok. Furthermore, the pair share even more common ground: a vision for financially empowering communities. According to its website, the Magic Johnson Foundation’s mission includes providing economic empowerment in ethnically diverse urban communities, while the Angel C. Reese Foundation shares a similar mission, with a specific focus on girls. “The Angel Reese Foundation is dedicated to fostering equity for girls and underrepresented groups through innovative and impactful initiatives. Our main objective is to ensure equal opportunities for all girls in...
Kai Cenat was one of the top-earning creators in 2024, and now he wants to put other streamers in position. The New York native is one of the most popular content creators, with a Twitch community of 17.1 million followers and an Instagram following of 14.2 million (at the time of this writing). As AFROTECH™ previously reported, his success as a content creator in the streaming industry led to $8.5 million in earnings in 2024. What’s more, he shares his success with those around him. This also includes AMP (Any Means Possible), a content creator group that Cenat joined, consisting of Duke Dennis, Agent 00, Fanum, ImDavisss, and ChrisNxtDoor. Before rising to fame with AMP, Cenat had been longtime friends with Tylil, Punga, and Dezz, for whom he recently purchased a home with the intention of supporting their streaming careers . RaKai, Ray, and Reggie, other streamers and friends of Cenat, were also given keys to the home. “Bought a house for my friends. God is good,” Cenat...
About 7.4 million Americans who depend on social security benefits through the Supplemental Security Income (SSI) program will see two payments hit their accounts in May. It’s not extra money, but it is a significant shift to understand. The Social Security Administration’s (SSA) calendar is the reason for the double deposit, with June’s payment arriving early because the first of the month falls on a Sunday. According to USA Today, the first payment is scheduled for Thursday, May 1, and the second will follow on Friday, May 30. Even though two payments will land in the same month, beneficiaries need to know that the second check is an advance for June. Knowing how and why this happens can help millions who rely on social security benefits plan ahead and avoid gaps in their income. Why Two SSI Payments Are Coming In May Every so often, the SSA’s calendar shifts when regular payment dates fall on weekends or holidays. Instead of delaying deposits, the agency sends payments early....
For Wisdom Kaye, his passion for fashion has made him a millionaire. His bold fashion choices have frequently garnered chatter online over the years, and his TikTok account alone has drawn 13.5 million followers and 443.7 million likes. Kaye even made an appearance at the 2024 Met Gala, a feat that he believed was out of reach for him in 2022. View this post on Instagram A post shared by Wisdom Kaye (@wisdm) Wisdom Kaye’s life has forever changed as a result of his online presence stemming from his creative videos, which he primarily edits himself. However, his bread and butter is not coming directly from his social media impressions. “I’ll spend 12 hours, 12 days on a f-cking video, and it won’t really make anything. I’m in the Creator Fund, but, that doesn’t really pay,” the model and creator said in a TikTok video. “I mean, it does pay. I’m grateful for the amount that it does pay, but, I can make a video right now and it gets 20 million views, which is a very likely number for...
Athletes are leaning further into content creation to build a sturdy brand. While sports is a bridge between athletes and fans, content creation is another avenue that can further enhance the relationship. Now, more and more players are leaning into this in various ways to give fans a closer look into their lifestyles and interest. At the 2025 NAB Show (National Association of Broadcasters) held in Vegas, NV, PlayersTV Co-Founder Collin Castellaw was among the leaders gathered for a panel titled “Empowering Athletes: The Rise of Player-Owned Media in the NIL Era,” moderated by journalist Chris Smith on Tuesday, April 8, 2025. PlayersTV As AFROTECH™ previously told you, PlayersTV, established in 2020, is the first athlete-owned media network and content provider. It is currently backed by players that include Chris Paul, Kyrie Irving, Travis Kelce, Dwyane Wade, Carmelo Anthony, and Damian Lillard. The media network currently has nearly 70 professional athletes as owners, investors ,...
Antoine Walker, a 2006 NBA champion, wants athletes to learn from his financial mishaps. At 19 years old, he was drafted into the NBA in 1996 by the Boston Celtics and remained in the league for 13 years. Yahoo Finance reports his career earnings amounted to $108 million, including a six-year contract worth $71 million that he signed at age 21. While making all this money early on is an accomplishment, it also came with harsh learning lessons for Walker. “The money came so fast without the education,” he told host Ross Mac on the “Financial Freestyle” podcast. Walker’s first paycheck was tied to a $1.6 million payday, but after taxes, his actual earnings ended up being $800,000, he says. He came from “very humble beginnings” and had little understanding of financial literacy, particularly about taxes. This lack of knowledge, combined with excessive spending and real estate investments that went south during the Great Recession, contributed to his filing for Chapter 7 bankruptcy in...
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...