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While some businesses may be suffering from the coronavirus pandemic, others may be cashing out on business investments. As customers flood local grocery stores to buy essentials in preparation for the indefinite quarantine, those companies who provide must-have items might see an increase in sales. Check out this list of Black celeb backed businesses who could possibly see their investments prove to be lucrative. AQUAhydrate Sean “Diddy” Combs and Mark Wahlberg invested more than $20 million in the water company, AQUAhydrate, that specializes in alkaline water. The Los Angeles-based company has its water on shelves across the country and even offers an online shipment option for customers. With water being on the top of most Americans’ list of quarantine must-haves, AQUAhydrate could cash out big time. CORE Juicy J of Three 6 Mafia invested in CORE Hydration , a water brand centered around producing purified and electrolyte infused water. The company was acquired by Keurig Dr...
Whether you’re inviting the crew over to turn up on a Friday night or have opted for a quiet night in, alcohol of some sort is most likely in the equation. As stars continue to scale their personal brands, booze has become the go-to entrepreneurial endeavor for many. U.S. alcohol sales rake in about $90 billion annually, and these celebs are getting in on the action. From wine lovers to fine cognac consumers, these celeb-backed alcohol brands are sure to make their way into your cabinets. Jay Z’s Armand de Brignac “Ace Of Spades” Champagne — $300 View this post on Instagram One for the books. #THEBRUNCH #ArmandDeBrignac A post shared by Armand De Brignac Champagne (@armanddebrignac) on Jan 26, 2020 at 9:05am PST Jay-Z was named hip hop’s first billionaire by Forbes in 2019, and much of his net worth can be attributed to his Ace of Spades brand. The Takeout reports that Jay-Z makes nearly five times more from his champagne than music with the brand generating $310 million . He...
During the Clive Davis pre-Grammy gala , Sean “Diddy” Combs voiced his frustration toward the mistreatment of Black artists and the exclusion of diversity inflicted by the Recording Academy. According to Black Enterprise Combs’ stated: “Truth be told, hip-hop has never been respected by the Grammys. Black music has never been respected by the Grammys—to the point that it should be,” Diddy continued. “For years, we have allowed institutions that have never had our best interests at heart to judge us. And that stops right now. I’m officially starting the clock. You’ve got 365 days to get this s–t together.” Following Combs’ statement, the Recording Academy announced the development of a diversity initiative in collaboration with its Diversity Task Force. CNN reports Harvey Mason Jr., Chairman and Interim Chief Executive Officer of the Recording Academy, addressed the situation with a message to its members: “Six months ago, when I put my hat in the ring to be your Chair, I did so...