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Nick Minaj’s latest tour is breaking records! According to Billboard, the Queens, NY, native’s “Pink Friday 2 World Tour” is the highest-grossing and bestselling rap tour by a woman in Billboard Boxscore history after reports revealed that it grossed $67 million and sold 439,000 tickets. Kicking off on March 1 in Oakland, CA, the tour’s first stop brought Minaj $2.3 million thanks to 14,000 tickets sold. The show concluded on May 13 in Oklahoma City, OK. She now joins the likes of her former label mate Drake, as well as Kendrick Lamar, Future, and a host of other rappers with high-grossing tours. Not to mention, she bumped out Doja Cat, who just five months prior had set the record with $37.3 million for “The Scarlet Tour.” With four double-headers, the “Pink Friday 2 World Tour” brought in more than $3 million for each stop in Atlanta, GA; Boston, MA; Brooklyn, NY; Chicago, IL; and Toronto, Canada. Minaj’s biggest moneymaking nights were both in New York, at the Brooklyn Barclays...
May 17, 2024
Kansas City Chiefs quarterback Patrick Mahomes has a new business venture to add to his ever-growing portfolio. According to Boardroom, the three-time Super Bowl champion is taking his love for coffee to higher heights as a lead investor for Throne Sport Coffee, a ready-to-drink coffee beverage company that was launched Thursday (May 16). Putting his money where his mouth is, not only did Mahomes attend a nice chunk of developmental and departmental meetings for the company, but he also had samples of the coffee sent to his home every two to four weeks in 2023 to ensure that he was able to help the Throne Sport family create a “tasty, healthy beverage with mass appeal to compete in a crowded market.” “There were a lot of samples sent and the season worked out well,” Mahomes said. “We won the Super Bowl, so it must have worked. We’ve come up with a great product, and I think people will really enjoy them throughout the entire day, not be jittery, and not be sluggish after the coffee...
May 16, 2024
Mary J. Blige’s Strength Of A Woman Festival (SOAW) returned for a Mother’s Day takeover in a new city this year, along with new faces and places to support. “We started doing pop-ups at bars, and it was just me and my daughter,” Chef Shelly Flash of 2 Girls & A Cookshop told AFROTECH™ during the third annual SOAW, the festival’s first time appearing in Blige’s home of New York, NY. “We used to get kicked out all the time, and it’s like we just had a mission. We were like, ‘We should share our food with the world because we’re first-gens, and a lot of times first-generation Jamaicans, we’re not represented.’ Either you’re all in the culture or you’re in this melted pot. We are always in this floating melting pot. We live in the best city in the world — that’s New York — and so what we decided to do is just keep putting out one Jamaican taco at a time.” She added, “And in Jamaica, we always say ‘Out of many, one person.’ At 2 Girls we say, ‘Out of many, one culture.’ We believe that...
May 14, 2024
Ice Cube is finally putting plans in motion to sell teams included in his Big3 basketball league roster. According to Bloomberg, in a deal worth $10 million, the 3-on-3 basketball league has sold its first team to an outside party. Led by investment firm DCB Sports, a group has acquired the team, with Los Angeles, CA, to serve as its home city. This also launches the league’s transition from a touring league to a city-centric model. All 12 teams on the roster have been put up for sale. “We need to plant our roots in cities so we can be more than a rolling all-star game coming through,” Ice Cube said in an interview with the outlet. “It’s really about growing the sport and the league.” Created in 2017, teams in the Big3, which include the 3 Headed Monsters, Ghost Ballers, and more, have been owned and operated by the league. Per the report, management aims to announce four new ownership groups by the start of its season, which kicks off in June. View this post on Instagram A post...
May 13, 2024
This healthcare company is one funding round closer to fulfilling its goal of making mental health care more accessible. Backpack Healthcare shares in a press release that it has officially completed a $14 million Series A funding round led by Healthcare Capital. Also participating were ECMC, Techstars, Collab Capital, Bridge Builders Collaborative, Portland Seed Fund, Hopelab, Rethink Education, Genius Guild, and Unlikely Collaborators. Additional angel investors included Maya Ghosn Bichara and Jeffrey Walker. Founded in 2018 by Hafeezah Muhammad, the company uses artificial intelligence (AI) technology to combat the current youth mental health crisis through its app and teletherapy services, specifically honing in on those with Medicaid insurance coverage. “The funding we have raised underscores the U.S. healthcare system’s need for more inclusive, tech-enabled solutions to tackle the growing pediatric mental health crisis,” said Muhammad, who also serves as the company’s CEO....
May 10, 2024
Fanbase is on a mission to get creators paid, and the company’s latest news is proof. According to information shared with AFROTECH™, the social media platform has officially reached its $10 million equity crowdfunding goal. It’s a historic feat as Fanbase Founder Isaac Hayes III is now reportedly the first Black man in history to raise this amount of money in a seed funding round on StartEngine in a Regulation Crowdfunding campaign. “We have a plan, and we’re going to be able to scale and build the business in real-time without having to stop and start and stop and start,” Hayes told Will Lucas on “Black Tech Green Money” podcast. “This is a scale-up opportunity because there are so many things that people want out of Fanbase, and I myself do not like to not be able to deliver on what I want to give to the community.” He added, “This raise is definitely putting us in a position to not only catch up to the current apps that are out there but surpass them because of my understanding...
May 8, 2024
Equinox has reportedly launched the world’s most expensive gym membership. According to NBC News, the exclusive fitness chain has kickstarted a $40,000 annual program geared toward helping people improve their overall health and longevity. In partnership with lab-test startup Function Health, Optimize by Equinox, is a personalized health program curated by the company to equip participants with a variety of services, including personal training, nutrition plans, sleep coaching, and massage therapy. “It’s really a paradigm shift in how we’re able to live with vitality and avoid suffering,” Jonathan Swerdlin, co-founder of Function Health, said. “It deals with what’s above the surface, your abs and glutes, which you can see in the mirror, that are great. But it also deals with what’s below the surface and what you can’t see in the mirror. And that’s revolutionary.” View this post on Instagram A post shared by Equinox (@equinox) Kicking off with a range of tests, t he program is...
May 6, 2024
Chris Brown has been in the game for a little over two decades, and making smart business moves coupled with his talent may just be the reason for his longevity in the industry. During an appearance on “The R&B Money Podcast” with hosts J. Valentine and Tank, the R&B crooner opened up about what encouraged him to make franchise investments early on in his career. “I was 17 when I started trying to invest in certain things, just ‘cause I knew… You don’t know how long you going to be successful, and it’s not like every artist can make it look like they getting money, getting money,” he told his fellow R&B comrades. “If you’re not a touring act, if you’re not doing stuff, you need an exit strategy.” As previously reported by AFROTECH™ , during a 2015 interview, Brown told US Weekly that he was the owner of 14 Burger King restaurants. This type of planning, he told the “R&B Money Podcast,” can be a game-changer for an artist. “My investments were like into Burger Kings and stuff like...
May 3, 2024
TikTok and Universal Music Group (UMG) have agreed on new licensing conditions to bring the group’s tunes back to the social media platform. According to the TikTok newsroom, the joint agreement between the two entities “marks a new era of strategic collaboration.” “By harnessing TikTok’s best-in-class technology, marketing, and promotional capabilities, UMG and TikTok will deliver improved remuneration for UMG’s songwriters and artists, new promotional and engagement opportunities for their recordings and songs, and industry-leading protections with respect to generative AI,” read the report. What’s more, fans will see a return of UMG’s recorded music and publishing catalogs on TikTok, thus allowing users to go back to creating content with sounds from some of the culture’s biggest musicians. “Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group,” TikTok CEO Shou Chew said. “We are committed to working together...
May 2, 2024
NBA legend Michael Jordan is enlisting a team of athletic superstars as co-owners of his award-winning tequila company. In a press release shared with AFROTECH™, the NBA Hall of Famer has tapped Serena Williams, Derek Jeter, and a host of other athletes and sports enthusiasts as investors in his award-winning portfolio of luxury tequilas, Cincoro Tequila. “Cincoro has always been special to me because of the authentic friendships we’ve established around enjoying Cincoro and spending time together, designing it, experiencing it, and tasting it. We are constantly striving for greatness,” Jordan, co-founder of Cincoro Tequila, said. “And now that we’re welcoming in some of my closest friends to the business, I’m looking forward to this next era of Cincoro alongside this all-star team.” The company’s new ownership group, Team Cincoro, also includes RedBird Capital Partners Founder and Managing Partner Gerry Cardinale; The Lerner Family, owners of the Washington Nationals; former NFL...
May 2, 2024
Sony Pictures Entertainment has officially announced its next EVP, Chief Communications Officer, and the move is a major one… a historic feat, if you will. According to a press release shared with AFROTECH™, Tahra Grant will serve in the position, succeeding Robert Lawson who will relocate to the company’s headquarters in Tokyo, Japan as SVP of Corporate Communications for the entire Sony Group. Not only is Grant the first Black woman to be named Chief Comms Officer at a major Hollywood studio, she is also the only Black woman to hold the position at a major studio among the stars. Since joining the studio in 2016, Grant has “streamlined and sharpened corp comm ops, handling crisis and issues with def skills during Covid and the double strikes, before and after,” per the report. Within a year with the company, she was promoted to SVP of Media Relations and her expertise in the industry continues to expand. She has also worked on several Sony blockbusters, which include Little Women,...
May 1, 2024
Ashley M. Fox has had dreams of working on Wall Street since she first decided to attend Howard University. Little did she know that this vision would soon propel her into entrepreneurship. After conquering what some would deem the inevitable, Fox not only became the first person in her family to attend and graduate college, but she also landed her dream career of working with one of the largest banks in the world. Still, there was a desire for more. “After about eight months at my job, I felt like I didn’t have the desire to be the best person on Wall Street, I wanted to be like the client,” Fox told A FROTECH™. “I realized that no matter how long I stayed in my Wall Street job, yes, I was making perfect money, but our clients had at least $25 million or more and I felt like I deserved to be on the other end of the table.” View this post on Instagram A post shared by Ashley M. Fox (@_ashleymfox) Fox built that table for herself and those who look like her through Empify. “The...
May 1, 2024
Joe Budden is getting candid about his career podcast earnings. According to Vibe, the rapper-turned-podcast-host recently shared that he has earned at least $7 million since he made the career transition, pocketing a reported $4 million from that after taxes. “Off podcasting, off of this?” Budden said during an episode of “The Joe Budden Podcast.” “All together in the whole 10 years? About $4 million… Gross is $7 million.” He also opened up about how he and his team managed to get to those numbers, noting that inking partnerships with various brands along the way has been beneficial. “Early on we were doing it for free,” Budden recalled. “Then we hit a little lick, Spotify. Then n—as left, the building crumbled a little bit, and my friends came and saved the day.” As previously reported by AFROTECH™, he shared the real reason that he walked away from Spotify’s initial offer. “In business, there are signs, for me, that show faith in a relationship,” Budden said at the time. “And me...
Apr 26, 2024
Kevin Hart’s Gran Coramino Tequila has officially reached a new milestone. According to a press release shared with AFROTECH™, since its inception in 2022, the ultra-premium tequila company has provided more than $1 million in grant funding to over 100 Black and Latinx small-business owners and entrepreneurs through its Coramino Fund. The fund, powered by the company founded by Hart and 11th-generation tequila maker Juan Domingo Beckmann, has made giving back to the community its main priority from the very beginning, honoring its “vision to celebrate life’s hard-earned moments” by donating $1 from every bottle sold to support underrepresented entrepreneurs in the United States and Mexico. “As an entrepreneur myself, I’ve seen how early financial support can impact the long-term success of the business,” Hart said in a statement. “The Coramino Fund was created to provide support to some of the hardest working people out there — entrepreneurs and small business owners.” View this...
Apr 24, 2024
The Antetokounmpo family doesn’t play when it comes to their own. Nike has been a long supporter of Giannis Antetokounmpo and his family since the very beginning of his career in 2013, and it’s also what encouraged the NBA superstar to pass on another endorsement deal with one of the athletic apparel company’s competitors. According to Bleacher Report, during an appearance on the “Thanalysis Show,” Antetokounmpo recalled the moment he decided to walk away from a deal at Adidas because he was in a position where he needed to help support his family. After an initial offer featuring a deal for both Giannis and his brother Thanasis Antetokounmpo, Adidas backtracked on the plan, prompting Giannis to turn down the proposal. “[An Adidas representative] brought the contract and put it in front of me, and I’m like, ‘Okay great, where is my brother’s?’” Antetokounmpo explained, per Bleacher Report. “And he was like, ‘We’re not going to sign your brother’s today. You’re going to sign yours,...
Apr 19, 2024