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If you’re a big music fan, you’ve certainly heard your fair share of Babyface tracks over the years. The multi-talented artist , who celebrated his 65th birthday back in April, has released more than two dozen chart-topping R&B classics over the course of his historic career, resulting in a staggering 13 Grammy Award wins. Even with all his success, Babyface’s massive net worth may be quite shocking to some listeners, since many artists from his generation have struggled to flip their musical highs into prudent financial investments . According to Celebrity Net Worth , Babyface touts a staggering nest egg of over $200 million, earned mostly through music royalties, producer credits and a few high-priced real estate ventures. Perhaps the most shocking aspect of Babyface’s massive wealth is the fact that his net worth was once halved following a contentious divorce in 2005. This means that the musician could have stacked millions more if it weren’t for losing a nine-figure sum in the...
Victoria Monét put her earnings from a publishing deal to good use, and it’s paying off. For more than a decade, the “Alright” singer has put time and dedication into the entertainment industry. As AFROTECH™ previously reported, the Atlanta, GA, native developed a knack for performing as a pre-teen at a dance camp. This early experience sparked her interest in songwriting and motivated her to move to Los Angeles, CA. Since 2010, Monét has collaborated with prominent artists, putting pen to paper for talent such as Brandy Norwood (“Rather Be”), Chloe x Halle (“Do It”), and Ariana Grande (“Thank U, Next”), USA Today reports. Investing Into Her Dreams While creating hits for other artists, she was also in the process of cultivating her fanbase. At one point, she described herself as a “struggling songwriter,” but her early belief in success inspired her to invest more deeply into her craft. However, she encountered several learning curves, including vocal production and engineering....
Roland Parrish is reportedly the second-largest Black franchisee of McDonald’s, per The Dallas Morning News. The Dallas Business Journal mentions he owns 24 locations across Dallas, TX, including at the Dallas-Fort Worth International Airport. This was accomplished across his more than 30 years at the fast-food company. Journey To Franchising Parrish’s journey to franchising was planted while in college. Carrying his experience as an All-American in track and field, he would continue sports while attending Purdue University’s business school in 1971, the schools website mentions. He continued to fair well in sports, being named Most Valuable Player twice during his college years. He was able to translate his discipline in sports into his academics, and he received guidance from Dr. Cornell A. Bell, the former director of the school’s Business Opportunity Program (BOP), who doubled as his mentor. “I spent more time in the libraries than on the track during my time on campus,” Parrish...
High-performing women reportedly face more judgment compared to their male counterparts. Management software company Textio released a report surveying 450 participants that reveals a drastic difference among workplace feedback depending on a person’s gender or race. In fact, 67% of men said they were described as “intelligent,” while only 32% of women said they received the same description. When considering race, the numbers dwindle with 18% of Black workers saying they were labeled as intelligent in comparison to nearly 50% for white and Asian workers. With traits that include “likable,” “brilliant, “genius,” “gifted,” and “talented,” women still reportedly heard that feedback less than men. Even when surveyed on receiving negative feedback, women stated they experienced this at a higher rate with 56% being labeled as “ unlikable” in comparison to 16% of men, and 78% of women said they were called “emotional” in comparison to 11% of men. On top of this, women are seven times more...
Journalist Don Lemon has sued Elon Musk. Lemon was a co-host on CNN until he was let go from the network in April 2023, AP News mentioned. After his exit, Lemon was presented an offer from Musk, who acquired X in 2022, to form a partnership that would allow him to host his own show, “The Don Lemon Show.” According to a new lawsuit, Lemon claimed to be a “top prospect” for Musk who was seeking to onboard “reputable figures” to maintain advertiser interest, per CNBC. Variety noted the show was intended to allow Lemon to be “bigger, bolder, freer,” and he said it would “be available to everyone, easily, whenever and wherever you want it, streaming on the platforms where conversations are happening. And you’ll find it first on X, the biggest space for free speech in the world. I know now more than ever that we need a place for honest debate and discussion without the hall monitors. This is just the beginning so stay tuned.” Taping for the show kicked off with Lemon interviewing Musk....
NFL quarterback Caleb Williams made an unconventional ask in his rookie contract. Williams is signed to the Chicago Bears as a first-round draft pick in the 2024 NFL Draft, ESPN reports. View this post on Instagram A post shared by USC Football ✌️ (@uscfb) The outlet added that the stakes are at an all-time high at the moment, as the team has not had an All-Pro since 1939. The team is currently working to ensure Williams is prepared for the 2024 season in training camp, which began July 20, 2024. Athlon Sports mentioned that Williams is expected to start in the preseason game against the Houston Texans on August 1, 2024. “You can just tell he’s in a better space,” D’Andre Swift, Chicago Bears’ running back, said, per NBC Sports. “That comes along with time. Getting a better understanding of the offense. He had time off, so he had more time to study the offense. So you can tell he’s made strides since he’s been back [from the break]. I know he’s got a lot on his plate, a lot being...
Music media platform Verzuz has a new home. Billboard reports that Swizz Beatz and Timbaland ‘s media platform Verzuz has landed a distribution partnership with X, formerly Twitter. The deal will allow both artists to maintain 100% ownership and creative control of Verzuz, while X, currently led by Elon Musk, will maintain exclusive distribution rights. “ We are thrilled to partner with X, the most innovative platform globally,” Timbaland said, according to Billboard. “Our goal has always been to bring Verzuz to the world, which we can now do bigger than ever.” Verzuz brought together iconic music battles, such as Brandy vs. Monica and The Lox vs. Dipset, and plans to share more moments of music culture with fans through its free livestream series, which can reach more than 550 million users now through X. “We are beyond thrilled to have found the best partner for Verzuz,” Swizz Beatz added. “Not only are we excited to have Verzuz on X, we’re excited to help X build the biggest...
President Joe Biden is unveiling plans that will provide relief to minority borrowers. A press release shares the Biden administration is looking to build on its efforts to eradicate debt for Americans. Already, it has provided financial relief to 4 million borrowers. Now, pending on approval of its latest proposal, the Biden administration is looking to scale its efforts to more than 30 million borrowers and projects it will positively impact Black borrowers, among other targeted demographics including Hispanic borrowers as well as working- and middle-class families. According to Education Data Initiative, Black graduates owe an estimated $25,000 more in student loan debt than their white counterparts. Furthermore, four years after graduation, Black students will be burdened with over 188% more debt than white students. A separate study looking into students who started college between 1995 and 1996 showed the median debt for white borrowers decreased by 94% 20 years later, with...
Ray J has launched a new television network. The singer and entrepreneur just launched a television platform, Tronix Network, on Monday, March 25, 2024. While the R&B singer started out in the music industry, creating hits such as “Wait A Minute” in 2001 and “One Wish” in 2005, he has since tapped into his business side and ventured into other areas to generate revenue. Before deciding to create a new TV network, Ray J was known for his time investing in the tech industry. He first broke ground in 2016 with his Scoot-E bike brand, which launched through his electronics company Raytroniks. In 2019, the brand was acquired by micro-mobility and ride-sharing company LOOPShare in a deal reportedly worth about $34 million, per The Source. Ray J also supposedly walked away with more than 18 million common shares in LOOPShare, according to the outlet. He strengthened his presence in the sector, pivoting to Raycon Global, which he co-founded in 2017, as AFROTECH™ previously told you. “We...
Encouraged by rap-artist -turned-businessman Bun B, Derrick Turton elevated his interest in cooking. Turton, who was born in Brooklyn, NY, moved to Miami, FL, in 1998 and enrolled in culinary school. Upon graduation, he secured his first job as a line cook at a Red Lobster, according to The New Tropic. However, he disdained his time at the restaurant and made his exit. “I thought I was going to be a ‘Top Chef,’ and I got my first job at Red Lobster,” Turton told the outlet. “It was either Mother’s Day or Valentine’s Day, and [orders] were coming out of the register [nonstop]. I was just staring at it, and I was like ‘I’m out.’” He then pivoted, becoming a club promoter, which was his entry into the music scene. As he moved into record label promotion, this put him under the radar of rapper and record executive Luther Campbell, and he began to work for Campbell’s record label, The New Tropic reports. Turton was introduced to Armando Christian Perez, who is widely recognized as...
A ban on TikTok may be imminent in the United States. As AFROTECH™ previously reported, a 12-page bill was proposed by the House of Representatives to eliminate its use and access in the United States if its China-based parent company ByteDance doesn’t sell the platform. This would cause great disruption to many as more than 150 million individuals in the United States are TikTok users, according to the social platform’s website. The bill, which was introduced as the Protecting Americans from Foreign Adversary Controlled Applications Act , serves to “protect the national security of the United States from the threat posed by foreign adversary controlled applications,” per CBS News. If the bill is green lit by the Senate and President Joe Biden and signed into law, ByteDance will be required to sell the platform within 180 days — or it will be banned from distributing the app and any others through its subsidiaries or firms “controlled by a foreign adversary.” On March 13, 2024, the...
A new Black-owned financial institution could emerge west of Texas. The Sacramento Observer reports that the Black-led investment group Redemption Holding Co. (RHC), led by former White House Policy Advisor Ashley D. Bell, wants to acquire Holladay Bank & Trust in Holladay, UT. If planning is approved, the Utah financial institution will be renamed Redemption Bank , per the outlet . What’s more, it would become Black-owned and serve as the only Minority Depository Institution, which offers financial services to underserved populations, west of Texas. As CEO of Black-owned fintech startup Ready Life , Bell helps underserved communities start on the path to homeownership. “All of us require a bank to operate, and the reality was there was no Black-owned bank that we could sit on top of to operate with the way we’re currently constructed,” he told The Sacramento Observer. He continued, “Therefore, we are dependent on other communities and banks to allow us to do that service. So the...
Ray J, the businessman, strikes again! According to The Jasmine Brand, the superstar has officially announced plans to sell his shares in Raycon to launch a television platform, Tronix Network. The move includes his departure from Raycon Global, the company responsible for taking him to greater heights as an entrepreneur. View this post on Instagram A post shared by Ray J (@rayj) Per sources, Ray J aims to reshape the entertainment landscape through the launch of Tronix Network. “This isn’t merely about transitioning from one venture to another; it’s about seizing control of destiny’s helm and steering it towards his ultimate vision,” a source told the outlet. No stranger to making deals to propel him to the next level, Ray J previously described the sale of his Scoot-E brand as a blessing in an interview with AFROTECH™. “It was an interesting deal,” Ray J told AFROTECH™. “It was right before the pandemic, we sold it to a company called LOOPShare, out of Canada. Really good...
Dr. Kari Williams is bringing her expertise to Beyoncé’s newly launched hair care company , Cécred. According to a TikTok shared by the company, Dr. Williams serves as its director of education. In the clip, she provides insights into the burning question, “How often should you wash your hair?” @cecred So how often should you be washing your hair? We heard you yesterday and we’re back with our Head of Education, Dr. Kari Williams, to deliver some truths on keeping your hair and scalp clean. ♬ original sound – CÉCRED In February 2024, Dr. Williams took to Instagram to confirm the news with the caption, “Introducing the DIRECTOR OF EDUCATION for @cecred. I am in my season. It’s my time.” Dr. Williams’s expertise encompasses more than 20 years as a natural hair specialist, per an Instagram post. View this post on Instagram A post shared by PhD, Trichologist & Celebrity Stylist (@dr.kariwill) According to her website, she earned a Ph.D. in trichology, which focuses on the management and...
Over the past four decades, Mellody Hobson has shattered glass ceilings. The businesswoman and investor joined Ariel Investments, the first Black-owned mutual fund company, as president for 20 years until she became co-CEO in 2019. Hobson has worked alongside John W. Rogers Jr. — who founded Ariel Investments at age 24 — for a long period. However, according to Fortune, the duo’s workplace camaraderie runs deeper than some may know. In February 2024, Ariel Investments announced the release of “Ariel at 40,” which was produced by Crystal McCrary McGuire Productions. The documentary tells the story of how the firm fought back against numerous challenges and persevered. View this post on Instagram A post shared by Ariel Investments (@arielinvestments) “I don’t come from the world of finance, but from a filmmaking perspective, it was just such an incredible story of perseverance, excellence, and trailblazing,” said McGuire, who described Ariel Investments to the outlet as an...