Showing 5 results for:
money-management
Popular topics
All results
24-year-old actress Yara Shahidi felt protected when she entered the entertainment industry. At just 6 weeks old, she landed a photo shoot gig for a life insurance company, and by 6 years old, she had her first movie audition. In an interview with SoFi, led by Vivian Tu of Your Rich BFF, the actress reflected on her experience, noting that she was able to enjoy acting as a craft rather than as a means to support her family — a privilege she acknowledges isn’t always afforded to child stars. “My parents were able to set it up so that we had either family members or people that were helping us that were on set with another brother that were looking after me where they were able to dip out and do things for themselves,” she told SoFi. “So it was under that environment where I was able to have a fulfilling career at a young age and even be in my 20s, and say I’m happy I started that young. But it was so particular to being under those set of circumstances, which allowed me to enjoy...
Ismail Ahmed, who is behind the first Black-founded fintech company to reach unicorn status in the U.K., has secured additional funding, Bloomberg reports. In 2009, Ahmed launched Zepz, formerly WorldRemit, and was inspired by the high transaction fees from sending his loved ones money to East Africa. The venture also followed his experience working on a transfer project as part of the United Nations Development Programme, which led him to discover corruption in the UN’s Somalia remittance programme, The Guardian mentions. “My boss said if I went and submitted the dossier, I would never be able to work in remittances again, and I took that threat very seriously. I lost my job to uncover the fraud,” he told the outlet. While working through the legal case, Ahmed decided to attend London Business School, a move that would provide him with the blueprint for the company — originally called AfricaRemit. Furthermore, he would receive a financial award for his mistreatment as a result of...
Rihanna is expanding her empire! It is no secret hair has been important to Rihanna’s identity. Now she is taking that passion into the business world. The mogul took to social media to announce Fenty Hair will launch on June 13, 2024, and cater to every hair type. “A new family is moving in! @fentyhair is pullin up and it’s time to finally have the hair experience you’ve been waiting for,” she wrote on Instagram. “You know how much switching my hair up matters to me. I’ve had almost every texture, color, length, from weaves to braids to natural- so I am launching a flexible line of products for not only every hair want, but every single product is designed to strengthen and repair all types of hair, which is what we truly need! It’s time to play and get stronger by the style . WE COMING 6/13, but sign up NOW so you can get access and shop before anyone else FENTYHAIR.COM.” View this post on Instagram A post shared by badgalriri (@badgalriri) At the time of this writing, it is...
When it comes to personal finance advice, it can often feel difficult to find information that is relevant to the black experience. Black Americans often face financial hurdles such as pay inequality, predatory lending and hiring discrimination, all of which have contributed to a racial wealth gap. “People are working hard, but if every part of their life is discounted, how can they catch up?” says financial educator Tiffany “The Budgetnista” Aliche. According to the most recent data from the Federal Reserve, as of 2016, the median black household net worth was just over $17,000, while for the same year the median net worth for white households was over $170,000. And while the median household income for black Americans has risen between 2013 and 2018, it is still 33% lower than the national average . Marcus Garrett, co-host of the podcast “Paychecks & Balances,” says the answer to closing the wealth gap between black and white Americans is multifaceted. “First, we must address what...
Philadelphia’s FIS Group agreed to acquire Piedmont Investment Advisors LLC, a 21-person firm based in Durham, NC. With the acquisition, FIS will have a combined $10 billion in assets, making it one of the biggest U.S. African American-owned investment companies. Employees from both groups will keep their jobs. According to The Philly Inquirer , FIS says it manages $5.6 billion in “innovative portfolio solutions across the global public equity spectrum through entrepreneurial managers worldwide,” and Piedmont expects to manage $4.7 billion in “active, passive, and structured beta equity and core fixed-income management.” Most of the clients that FIS deals with are governments, and the same can be said of Piedmont. The money management industry can be hard to break into, especially for minorities. But many are still pushing to encourage government agencies to be more inclusive by hiring minority and women-owned firms to diversify the field. The merging of FIS and Piedmont makes for a...