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HarbourView Equity Partners just landed a major financial boost to supercharge its growing empire. The Black-founded investment firm, led by Sherrese Clarke Soares, has secured $500 million in debt financing from KKR, according to a press release. The funds will be used to expand the firm’s portfolio of music, media, and sports-related intellectual property. The financing was structured by Barclays, with Barclays and KKR Capital Markets serving as placement agents and Fifth Third Bank as passive placement agent. “We are thrilled to have KKR’s continued support as we further scale the firm,” Soares said in the press release. “This additional capital will help us accelerate our strategy to align with where the media, sports, and entertainment markets are headed. We see a tremendous opportunity to continue investing in evergreen intellectual property, which we believe is historically uncorrelated to broader market volatility and forms a powerful diversification tool.” The new capital...
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...
Beyoncé’s “Cowboy Carter” proved to be good business for Chicago, IL, locals. The entertainer who won Best Country Album at the 2025 Grammy Awards for “Cowboy Carter” is currently touring its tunes with a stop in the Windy City. According to USA Today, the three planned concerts took place on May 15–18 at Soldier Field . View this post on Instagram A post shared by Beyoncé (@beyonce) The tour brought great momentum for the city and was beneficial to several Black-owned businesses, including Bronzeville Soul. The restaurant first benefited from the Carter family in 2023. As AFROTECH™ previously reported, Hip-Hop mogul Jay-Z had been in the area to celebrate his wife Beyoncé’s second night of her “Renaissance World Tour,” which was also held at Soldier Field. The soul food restaurant had been “up and down” for nearly a year before Jay-Z’s visit, but it was able to gain new momentum afterward. “The element of that surprise was huge. It was overwhelming,” Bronzeville Soul Co-Owner Mario...
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...
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...
New music from the late legendary rapper Eazy-E could be on the way, thanks to artificial intelligence (AI). There are mixed reaction from artists regarding the use of AI. However, the technology has been embraced by some, including Timbaland. As AFROTECH™ previously told you, the artist is an advocate for the music AI creation tool Suno. “You can put out great songs in minutes,” Timbaland told Rolling Stone. “I always wanted to do what Quincy Jones did with Michael Jackson’s ‘Thriller’ when he was [almost] 50. So my ‘Thriller,’ to me, is this tool. God presented this tool to me.” Tag teaming in the appreciation for AI is Lil Eazy-E, born Eric Darnell Wright Jr. He is the son of Eazy-E, who passed away in 1995. According to TMZ, Lil Eazy-E has expressed interest in creating an AI-packaged biopic film about his father’s life and has teased a potential joint album in the future. “I actually just got a sample of him talking to me. It made my mind go another route with the possibilities...
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...
The Global Gaming League (GGL), a professional gaming entertainment organization featuring celebrity team owners, has successfully raised $10 million in its SAFE round, led by the private equity group Solyco Capital, according to a news release. Founded by multi-platinum music producer and entrepreneur Clinton Sparks, in collaboration with Grammy Award-winning artist T-Pain and tech visionary Jeff Hoffman, GGL is building the first entertainment system that monetizes the world’s largest and most engaged audience: the more than 3 billion people who play video games. “There are over 3 billion gamers around the world,” Sparks said. “But there’s still no centralized platform that gives everyday players the spotlight—while authentically connecting brands, celebrities, and competition in a way that’s truly entertaining. That’s where GGL comes in.” Each GGL team has four players — including high-profile influencers , actors, athletes, artists, and casual and professional gamers — competing...
A portion of Notorious B.I.G.’s estate will now be handled by Primary Wave. As AFROTECH™ previously told you, a deal rumored to be in the “eight figures” was in the works between Notorious B.I.G.’s estate and the music publisher and involved half his publishing and master rights, including his rights to name, image, voice, and “other identifiable characteristics.” Notorious B.I.G.’s estate had been primarily run by his mother, Voletta Wallace, who was instrumental in securing stake from Bad Boy Records. Christopher Wallace, otherwise known as Biggie Smalls or Notorious B.I.G., had been one of the first artists to sign to the label owned by Sean “Diddy” Combs. Bad Boy Records had 50% stake in his songwriting catalog, Variety mentions. Voletta was able to increase the estate’s stake to 85% after arguing it was doing the heavy lifting in securing deals to license and monetize Notorious B.I.G.’s music. She then secured the remaining 15% stake in 2020. “Securing control of my son’s...
Teyana Taylor has become a household name thanks to her work throughout the entertainment industry. Although she comes from a well positioned family, the mother of two has come into her own. Over the years, Taylor has developed her own image, style and money, even going on to coach other starlets into their most confident selves. W hether she’s topping the charts with her latest album, exercising her famous abs for a photoshoot or working on brand collabs , the multi-talent is making money moves. Teyana Taylor has built her own financial empire that just keeps on giving. Although she has been making headlines for her multi-million dollar divorce from NBA champion Iman Shumpert, she’s still got it . Here is what we know about Teyana Taylor’s net worth in 2025. How Did The “Rose In Harlem” Hitmaker Become Famous? (Brian Ach/WireImage) Teyana Taylor’s fame stems from a number of sources dating back to the mid-2000s. The performer grew up in Harlem, New York, as fans who listened to her...
The music industry can be a tricky game — one minute you’re up, and the next you’re left wondering where all the money went — an intricate maze of talent, timing, and business. Few stories illustrate its complexities as vividly as Dawn Robinson’s. As a founding member of En Vogue, she was part of a movement that redefined contemporary R&B, blending impeccable harmonies with a bold, sophisticated image that commanded attention. Yet, the same industry that lifted her to legendary status ultimately left her to navigate an unrelenting financial storm. Robinson, now 59, recently revealed in a profoundly personal YouTube video that she has been living in her car for the past three years, according to The Hollywood Reporter. This revelation is more than a personal hardship — it is a case study of what happens when artists, especially Black women in the music industry, are not given the tools to own their success beyond the stage. Her story is not about missteps alone but about an industry...
Fans are flocking to support the music of the late Angie Stone. The Grammy-nominated soul artist and member of The Sequence passed away on March 1, 2025, at 63 years old, according to Variety. Stone was in a car accident with an 18-wheeler while traveling from Montgomery, AL, to Atlanta, GA, causing her vehicle to overturn three times. Of the nine passengers in her van, she was the only one who did not survive. Stone, born in Columbia, SC, is survived by her children Diamond Stone and Michael Archer and her grandchildren. “Never in a million years did we ever expect to get this horrible news,” Diamond and Michael said in a statement, the outlet notes. “Our mom is and will always be our everything. We are still trying to process and are completely heartbroken.” Stone leaves behind an imprint that includes her most revered song, 2001’s “Wish I Didn’t Miss You,” 10 solo albums, and three Grammy nominations in categories including: best R&B performance by a duo or group with vocals...