College football quarterback Shedeur Sanders still remains at the top of name, image, and likeness (NIL) earners. As AFROTECH™ previously reported, Shedeur was listed at the top of the 2023 college football season, with an approximate $3.8 million valuation. This was also the highest NIL valuation at the time. In 2024, not much has changed. Shedeur — who now plays for the University of Colorado and is being led by his father and head coach Deion Sanders — has a NIL valuation that has soared to an estimated $5.1 million , according to the latest data from On3. He is joined by his teammate, Travis Hunter, who is ranked third with an estimated $3.1 million valuation. View this post on Instagram A post shared by On3 NIL (@on3nil) Signing To Nike The news follows just weeks after Shedeur made history as the first college football player to sign an NIL deal with Nike. His presence within the athletic apparel giant is now a family affair, as his father is also signed to a deal with the...

College football player Travis Hunter has made wise financial decision with his latest name, image, and likeness (NIL) deal. NerdWallet Wide receiver for the Colorado Buffaloes, Hunter will now be working with finance platform NerdWallet, joining USC basketball superstar JuJu Watkins, Sports Illustrated reported. He is the first football athlete on their roster. The conditions for signing an NIL deal with NerdWallet include stipulations that the athlete must fulfill a smart money action and release publicly the terms of their contract. Hunter was given three smart money options and he moved forward with the plan to place 20% of his earnings into a savings account. “Preparation is the key to success both on and off the field, and I’m excited to plan for a strong financial future with the help of NerdWallet,” the NCAA athlete said in a statement. “The opportunity to earn and be smarter with managing my NIL money in the right bank account while playing football was too good to pass...

The Federal Reserve has cut interest rates for the first time since March 2020 — the beginning stages of the COVID-19 pandemic. Forbes reported that on Wednesday, Sept. 18, 2024, the U.S. central banking system announced the significant move that will have a widespread effect on Americans’ finances, making borrowing less expensive. Following a split decision on whether to make a 25- or 50-basis-point cut, the Fed’s policy-setting committee reduced the federal funds rate by 50 points. As inflation continues to moderate, the adjustment lowers the interest rate to a range of 4.75% to 5%, down from 5.25% to 5.5%, which were the highest levels since 2001. “Today, the Federal Open Market Committee decided to reduce the degree of policy restraint by lowering our policy interest rate by 1/2 percentage point,” Fed Chairman Jerome Powell said at a news conference following the announcement. “ This decision reflects our growing confidence that, with an appropriate recalibration of our policy...

Angel Reese is among a trio of powerhouse Black women who are now investors in the DC Power Football Club. The Maryland native and current Chicago Sky player is already making strategic business moves in her rookie year. In May 2024 Reese joined an ownership group for the  DC Power Football Club, a new professional women’s soccer team based in Washington, DC, as AFROTECH™ previously reported. “I want to help grow women’s sports and elevate female athletes across the board,” Reese said in a statement, per Sportico. “We’re taking over, and I’m honored to be able to support Power FC and invest in women’s soccer in the DMV community.” Jason Levien, D.C. United’s CEO and co-chairman, commented: “Angel’s decision to be a founding investor alongside us in Power FC is groundbreaking. As a Maryland native, Angel is so passionate about being a catalyst for positive change in women’s sports in the DMV as well as globally while inspiring the next generation of female athletes. We’re looking...

Juicy J’s late mother, Shirley Houston, played a part in his knowledge of the music business. At 13 years old, Juicy J, born Jordan Michael Houston III, was already learning how to make music by relying on the tunes from his grandfather’s piano, he explained on the “Springhill” podcast in conversation with Wiz Khalifa. “I used to always tell him, I used to be like, ‘But I got to be on the piano.’ He like, ‘Why?’ I said, ‘I got to get ready.’ ‘Ready for what?’ I said, ‘Man I’m going to be rich, famous,” Juicy J explained. “ I always felt that I was going to be great in music.” The “Bandz a Make Her Dance” hitmaker had so much belief in his musical potential, he also made it his mission to to learn about the business side as well. He asked his late mother, who was a librarian, to check out some books that would expand his knowledge. “My mom saved my life. Rest in peace,” he said. “She saved my life, because when I was 13 she worked as a librarian, and I told her I want to know...

Amazon is pulling the plug on its remote work policy and reinstating a full-time office presence, reverting to pre-COVID operational norms. CEO Andy Jassy shared the news on Monday, letting employees know to prepare to return to the office full-time starting on Jan. 2, 2025, as the world’s largest online retailer works to strengthen its culture and teams. In a memo to employees , Jassy stated, “When we look back over the last five years, we continue to believe that the advantages of being together in the office are significant.” He asserted that the last 15 months of hybrid work have only strengthened this belief, noting that “collaborating, brainstorming, and inventing are simpler and more effective” when teams are physically present. According to Fox Business, Amazon shifted from a remote work model to a mandatory three-day-in-office policy in May of last year. The retail giant’s CEO reflected on the pre-pandemic work culture in his memo, explaining, “Before the pandemic, not...

Clarke Peoples had a “formulaic” road map that was disrupted by content creation. Columbia University Student Peoples was a student at Columbia University in New York, NY. It had been the only school she applied to, and she placed all her energy into perfecting her application, she shared with Business Insider. “I put in a lot of work to earn enough scholarships to get into Columbia. I spent months writing my application essay and did whatever I could to make myself a more competitive applicant. It was the only school I applied to, and soon I was in New York living out my dreams,” she said. Putting all her eggs in one basket ultimately paid off as she would be admitted into the school. She proved herself to be ambitious — pursuing an American studies degree — with an overarching goal of becoming a lawyer and launching a startup company. Peoples also had other backup plans including becoming a finance intern for a wealth management asset firm.   Early Career Opportunities By her...

Dwight Howard says he lost the opportunity to invest in his city’s WNBA team. During a sit-down interview on his “Above The Rim with DH12” podcast, Howard — who last played in the NBA in 2022 — explains he had the opportunity to become an owner of the Atlanta Dream. This was an interest to him because he wanted to support his daughters, in the event they had aspirations to follow in his footsteps in the professional league. “It was a group of people who was all in it together. My plan that I had was, I was looking to buy the Atlanta Dream, the basketball team for women. So I was like, ‘Man I want to really do this ’cause I got two daughters,'” Howard explained on the podcast. “One day they’re going to want to play basketball. I can set it up to where they can play for the Atlanta Dream one day when they get older.” The 6-foot-10-inch hooper, who was an active player in the league at the time, says he put a team together and invested $7 million into the deal. He was also showing his...

“There are two types of personalities when it comes to self-marketing. There are the Master Ps in business, who will market his products to absolute strangers at every single moment of his day. Then there’s the other 75% of people who have glossophobia , fear of public speaking. You may be in the latter group. You were never the artist in the ‘80s and ‘90s who would have a box of CDs or cassette tapes in your car, ready to have a mobile distribution destination in every parking lot nearby. The idea of walking up to someone with a postcard, a brochure or a clipboard is out of the question. You might be OK putting marketing material on people’s windshields, but you’d rather drink a jug of beet juice instead of encouraging people to come to your vendor booth. You know you need to sell a product. Likewise, you know the only way for someone to find out about your product is to actually search for that target demographic and share your pitch. But fear of rejection will make you avoid eye...

DryMerge has raised $2.2 million to make automation easier with the help of artificial intelligence (AI). The company was co-founded by Edward Frazer and Samuel Brashears. The pair, who first met in elementary school, made sacrifices to focus their full attention on the company. University of Wisconsin graduate Brashears walked away from a role at Hive AI while Frazer dropped out of Yale University to pursue the venture, a press release mentions. The founders recently participated in the Y Combinator Winter 2024 Batch startup accelerator program. “…I’m a pretty young founder – I dropped out of Yale to build the company and my cofounder Sam had just graduated from the University of Wisconsin,” Frazer wrote on LinkedIn . “I knew very little about how people worked, what problems they had, or how to solve those problems — and importantly, I didn’t care — I figured it’d be enough to build cool technology and watch the users appear out of thin air.” He continued, “It wasn’t until midway...

Kevin Burnett has transitioned from the football field to help families create wealth. Burnett, an Inglewood, CA native, was drafted in 2005 as a 42th draft pick in the second round to the Dallas Mavericks, according to ESPN. He was signed to a 4-year deal valued at $3.31 million with the team, which included a $1.15 million signing bonus and $1.15 million guaranteed, Spotrac notes. Burnett played for four teams throughout his career, ultimately retiring with the Oakland Raiders in 2014. He earned a total of $20.57 million. In retirement, Burnett took some time to water into his wife and four kids, per Equities.com. He became more immersed in his children’s worlds, which also included sports. This led him to coach his older kids’ football and baseball team, sparking a newfound purpose. “Hey, this is where I see my purpose,” Burnett explained. “It’s where I see my angle.” In 2020, he secured a position at McArthur High School in Hollywood, FL, as a football coach. With poverty and...

Fearless Fund is claiming victory following a settlement that dissolved one of its grant programs. What Happened As AFROTECH™ previously reported, Fearless Fund had been in a legal battle with legal activist Edward Blum and his American Alliance for Equal Rights group over the firm’s Strivers Grant program — a Blum-led group had earlier challenged race-based affirmative action policies and won in the Supreme Court. The grant program, backed by JPMorgan Chase & Co. and Mastercard, supported Black-owned women businesses with $20,000 in funding, per information shared by “CBS Mornings.” The lawsuit, filed August 2023 in the U.S. District Court in Atlanta, GA, argued it was in violation of the Civil Rights Act of 1866 to launch a grant program “open only to Black females,” labeling the move as “explicit racial exclusion.” As a result, several rulings and appeals have been issued. First, the grant program was permitted to continue operating under U.S. District Judge Thomas W. Thrash on...

College student Layla Wallace has secured a grant for her bakery business. Wallace started her Michigan-based business, Layla’s Cool Pops, when she was just 10 years old after being inspired by her fourth grade economics project in 2015, MLive reports. At the time, she did not have any proper knowledge of what it would take to run a business and be successful, but she is only becoming wiser in light of her steps in higher learning as a business student at Western Michigan University. “When I started the business, I didn’t know anything,” Wallace told the outlet. “I’m taking courses that are helping me develop my business, teaching me the fundamentals of how to function, develop, and grow.” In the meantime, Wallace continues to run Layla’s Cool Pops in Kalamazoo, MI. She sells cupcakes in flavors such as confetti, pink lemonade, red velvet, and lemon, among others, as well as cookie pops, cake pops, brownies, and pies. Orders are currently being fulfilled from her home, and the...

The 2024 NFL is in full swing, but players are still finalizing deals and securing contracts. One of the most lucrative deals recently announced was that of Dallas Cowboys quarterback Dak Prescott. Prescott entered the league in 2016 as the round four, 135th pick. In the 2023-2024 season, he completed 410 passes for 4,516 yards and 36 touchdowns. This level of play has made him a mainstay for the Cowboys organization, prompting high-level negotiations for his most recent contract. According to Spotrac data, Prescott inked a four-year deal with the Dallas Cowboys worth $240 million. The contract includes a $80 million signing bonus and guarantees totaling $231 million, with an average annual income of $60 million. For the 2024 season, Prescott is set to receive a base salary of $1.25 million, along with the $80 million signing bonus. The contract extension was completed after the season-opener vs. the Cleveland Browns. However, the 31-year-old athlete didn’t let the lingering deal...

Ulysses “Junior” Bridgeman now holds a stake in the league where he once played. Bridgeman was drafted to the NBA in 1975 and selected by the Los Angeles Lakers as an eighth pick in the first round, Basketball Reference reports. Bridgeman continued his career in the league with nine seasons for the Milwaukee Bucks, followed by a two-year stint with the Los Angeles Clippers, before returning to the Bucks for his final season and retiring in 1987, Sports Illustrated mentions. At his highest, he earned $350,000 in a single season, as AFROTECH™ previously reported. However, his fortune greatly increased beyond the NBA, amassing a reported $600 million. His business portfolio has included Wendy’s and Chili’s restaurant franchises, although he later sold his stakes in 2016 and soon after became a Coca-Cola distributor. The basketball veteran is also the owner of Ebony and Jet Magazine as of 2020. He purchased the publications for $14 million after they filed for bankruptcy. In a...