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Black wealth, especially at the billionaire level, remains a statistical anomaly in global finance. But in 2025, that narrative continues to shift — if only incrementally. According to Forbes, out of 3,028 billionaires worldwide, only 23 are Black, representing less than 1% of the list. Despite this underrepresentation, these 23 individuals collectively hold an impressive $96.2 billion in wealth. The figures tell one story. The names behind them tell another story — one of legacy, innovation, cultural power, and long-game strategy. This year, two notable newcomers joined the global roster of Black billionaires: Sheila Johnson, the media and hospitality powerhouse, and Herriot Tabuteau, a biotech founder with a focus on brain health. Both represent not only financial achievement but industry-specific influence in spaces where Black leadership is often overlooked or underestimated. Who’s New To The 2025 Black Billionaires List? Sheila Johnson, widely known as the co-founder of Black...
When it comes to investment, one of the first key tips you’re likely to receive is the importance of diversification. Usually, there’s a sweet spot of 20-30 different types of stocks spread out over various industries, with other assets like bonds, real estate, and CDs on top of that. Private equity investing can be an excellent way to diversify your portfolio and access opportunities not available in public markets. However, it can also be more complex and risky than traditional investments. In this article, we’ll break down what private equity is and how you can get started with it. What Is Private Equity? Private equity refers to investments made directly in private companies, or in the buyout of public companies, to take them private. These investments typically involve purchasing shares in a company that is not listed on a public stock exchange. Private equity investors aim to increase the value of these companies over time and eventually sell them for a profit. Types Of...
For nearly 30 years, Robert F. Smith’s Vista Equity Partners has invested in enterprise software companies. As AFROTECH™ previously reported , in August 2023, Smith announced that the global investment firm had reached over $100 billion in assets under management. “Since Vista was founded over two decades ago, we’ve expanded to 650+ team members operating around the world, built a comprehensive library of enterprise software best practices and much more,” Smith shared in a LinkedIn post at the time. “We’ve also been committed to supporting the communities in which we live and work, creating opportunities for individuals who have traditionally been underrepresented.” As a leader championing underrepresented technologists and tech entrepreneurs, Smith was among the speakers at AFROTECH ™ Conference 2023. Joined by Base10 Partners Co-Founder and Managing Partner Adeyemi Ajao, the two founders led the panel titled “ Powering Forward: Creating A Shared Digital Future.” During the...
Nicky Saunders has tips and tricks to scale your digital presence. Saunders, a content strategist and CEO of Deeper Than The Brand since 2018, understands firsthand what it takes to build online. Called “the voice of content branding,” her platform offers helpful content creation suggestions that can be beneficial to businesses and content creators. Of late, she has heavily geared content around the various ways technology can be a resource, such as using an iPhone to edit live photos or artificial intelligence (AI) tools like ChatGPT or Opus Clip. The latter allows users to repurpose long videos into shorter clips with one click, per its website. View this post on Instagram A post shared by Nicky Saunders | The Voice Of Content Branding 🏁🦁🏁 1 of 1 (@thisisnickys) Thanks to her expertise, Saunders has built an online following of 12,000 subscribers via YouTube while impressing on Instagram with 187,000 followers at the time of this writing. Screenshot taken via Instagram /...
Robert F. Smith is the second-richest Black man in America. Smith follows behind David Steward, the founder of IT management company World Wide Technology, who boasts an $11.4 billion net worth to secure the top spot among Black individuals, Forbes notes. View this post on Instagram A post shared by AFROTECH (@afro.tech) Smith’s return to the list is a result of his role as founder, chairman, and partner at Vista Equity Partners, a firm that invests in enterprise software, data, and technology companies, per its website. With more than $100 billion in assets since its inception, its portfolio companies include Forcepoint, Comply, Datto, Brainware, and InfoBlox, among others. In 2024, Vista Equity Partners made additional billion-dollar moves. This includes joining Blackstone in the acquisition of Smartsheet — an enterprise platform for modern work management — for an all-cash transaction valued at $8.4 billion in September, as AFROTECH™ previously told you. “Modern enterprises rely...
At this moment in time, a judge is washing his hands of a decision involving Jay-Z and Dame Dash’s shares. As AFROTECH™ previously mentioned, Dame Dash is soon having his shares in Roc-A-Fella Records sold at auction following an $800,000 judgement from a copyright infringement and defamation of character lawsuit. The auction has been gaining significant attention as the buyer and new stakeholder would have the rights to Jay-Z’s debut album, “Reasonable Doubt.” Even Drake reportedly showed interest in purchasing the shares through a direct message, Dame Dash had said. “Based on feedback I have received from interested parties (and I can’t mention names), this auction will likely bring out many household names in the sports and entertainment industries as well as those interested in a piece of a historically significant company, which holds an interest in a timeless debut album,” Dame Dash’s attorney Natraj Bhushan explained to Billboard at the time. Jay-Z’s attorney’s has since...
Following PowerSchool Holdings Inc.’s multi-billion-dollar acquisition, Vista Equity Partners has retained its minority stake in the company. According to a press release, PowerSchool Holdings Inc., which operates as a cloud-based K-12 education software, was acquired by Bain Capital through a transaction that was valued at an estimated $5.6 billion, with the company paying $22.80 per share in cash. Bain Capital plans to build on PowerSchool’s successful track record, with its software impacting 60 million students and 18,000 customers across more than 90 countries. “PowerSchool is aligned, throughout its entire organization, to its mission to personalize education and improve learning outcomes,” David Humphrey, a partner at Bain Capital, said . “We’ve had the privilege of seeing the leadership team’s dedication to this mission through a world-class product innovation engine.” Bain Capital Partner Max de Groen added, “We are thrilled to support PowerSchool’s mission and growth as it...
Kerry Washington has invested in Spill, the Black-owned social media platform designed to provide a safer and more inclusive environment for diverse communities to engage with and discuss culture in real time. “In a digital world where marginalized groups, especially Black, Brown, and LGBTQIA folks, rarely feel prioritized, Spill stands out,” Washington said, according to TechCrunch. “I’m proud to be part of this community as both a user and an investor.” Founded in 2022 by Alphonzo Terrell and DeVaris Brown after the two had worked at Twitter, Spill raised a $2.75 million seed extension in 2023 and has over 200,000 active users. In addition to serving as an investor, Washington actively participates in the Spill community by hosting “Tea Parties,” which are live video conversations, and engaging with users on topics like voter registration. “She’s incredibly accessible and knowledgeable, especially around these topics and is not scared in any way, shape, or form about really...
David Steward is the richest Black man in America. Forbes has released their annual Forbes 400 list, a definitive ranking of the country’s richest people. Featured individuals had to earn at least $3.3 billion, which was an increase of $400 million from the year prior. In total, the net worths totaled $5.4 trillion, which was a $1 trillion increase from 2023. Among the listed individuals is Steward, who is tied for No. 84 with a net worth of $11.4 billion. Steward leads World Wide Technology, an IT management company, as the founder and chairman. He launched the company in 1990 and today it has become a solution provider for over 80 Fortune 100 companies, its website states. Some of its partners include Cisco, NVIDIA, Verizon and the federal government. “Our expertise in AI, cloud, networking, cybersecurity, data analytics, automation, digital transformation and more allows us to deliver groundbreaking solutions that redefine businesses, revolutionize industries, transform...
During Donovan Mitchell’s off season he is educating himself on the wine sector. The starting guard for the Cleveland Cavaliers is said to be the first-ever NBA star wine apprentice, according to information shared with AFROTECH™. Mitchell dove into the various aspects of winemaking with the help of The Prisoner, a Napa Valley-based wine brand that has worked closely with the NBA since 2020. The company also works with 100 growers in the northern region to produce various blends, according to their website. Mitchell’s introduction to the winery dates back to two years ago, while attending an event in the midst of the summer league in Las Vegas. “Ever since then it’s been a non-stop in my house,” he explained in a YouTube video. Now, as a student in the field and through the assistance of The Prisoner’s head winemakers, Chrissy Wittmann and Todd Ricard, he became more familiar with the systems in place to blend wines while in the barrel room and has gained an understanding of the...
A grocery store considering its community first has opened in Baltimore, MD. The Baltimore community will now be able to shop at the Pratt Free Market, which will operate as a full-service grocery store following a ribbon-cutting ceremony held by the city’s Enoch Pratt Free Library. The market is inside the library’s Southeast Anchor location in the Highlandtown neighborhood. M’Balu “Lu” Bangura, chief of equity and fair practices at the Enoch Pratt Library, shared on Instagram that no income verification or ID will be required at the grocery store, and all items will be available for free to those living in a state where one-third of the population experiences food insecurity. Per WBAL-11 TV, customers will be able to stock one library-supplied bag each day. “Just come as you are and fill a bag with groceries at NO COST,” Bangura wrote on Instagram. “This market is for the City. All are welcome…I dreamt of this almost 2 years ago, I’m so proud to cut the ribbon on the first 100%...
Will.i.am believes creatives will continue to stand the test of times in the midst of artificial intelligence (AI). One Step Ahead In Technology The rapper and singer-songwriter has been ahead of the curve of technology for quite some time. As AFROTECH™ previously reported, he was an early investor in Beats Electronics and even incorporated their technology in the Black Eyed Peas’ “Boom Boom Pow” music video 15 years ago. He reportedly made a fortune from the investment when Apple acquired Beats Electronics and Beats Music for an amount nearing $3 billion. Will.i.am’s interests in technology have only widened since then. He invested in machine learning startup Inflection AI, and through a private investment group he has invested in additional companies empowered by AI such as: Udio Anthropic OpenAi Runaway FYI (Focus Your Ideas) He is also leading change through his own company FYI (Focus Your Ideas). As AFROTECH™ previously reported it is an AI-driven collaboration platform created...
Robert F. Smith’s Vista Equity Partners has signed off on a multi-billion-dollar deal. According to a news release, the private equity firm that has more than $100 billion in assets under management, has agreed to acquire Smartsheet— an enterprise platform for modern work management — alongside Blackstone for nearly $8.4B in an all-cash transaction. Per the agreement, the buyers would acquire all outstanding shares held by Smartsheet stockholders for $56.50 per share in cash once the proposed transaction is completed. “For more than a decade, we have built a thriving community of employees, partners, and customers, each focused on building and benefiting from Smartsheet’s industry-leading work management platform,” Mark Mader, CEO of Smartsheet, said in the press release. “Our next phase of growth and customer success is underway, and we look forward to partnering with Blackstone and Vista Equity Partners to accelerate our vision of modernizing work management for enterprises,...
Brandon J. Middleton-Pratt is lending his law expertise to the tech ecosystem. He currently serves as a partner at Wilson Sonsini Goodrich & Rosati and is a board member at DivInc, a nonprofit that empowers underrepresented founders. His trajectory was not a linear one. He initially pursued a finance and marketing degree at the University of Denver while playing on its basketball team, he says. Upon obtaining his bachelor’s in 2003, he decided to move to Los Angeles, CA, to pursue a career in entertainment instead. Though that did not pan out for long, he made appearances in the films “Coach Carter”, “Rebound,” and “The Longest Yard.” The pivots of life would then lead Middleton-Pratt to play basketball overseas in Spain and Cyprus after receiving an offer from a sports agent. He then experienced a crossroads, which would determine if he would return to Los Angeles. A call from a mentor with an opportunity in the energy field finally brought him back to the states. “A mentor of mine...
Some years ago, Maurice Kuykendoll was simply an attendee at the AFROTECH ™ Conference. Now in its eighth year, he will approach the annual tech affair as an official speaker on the Executive Stage. It’s not lost on him that when he attended the conference, he was responsible for global expense management at insurance company Prudential, with one of its largest expenses being technology. During the transformation, he notes how vital the event was to his leadership development. “I was transforming my team simultaneously, so it was an area of development for me,” Kuykendoll said in an interview with AFROTECH™. “So, a couple of days at this conference, where there’s Black people, and they know all about technology, I was like, ‘I’ll go and see if this can be one of the things I put on my calendar every year to make sure that I am developing this essential part of what’s going on in the world.’” After sitting in many rooms alongside founders and talking to them about their latest...