Latest Articles

Here's How Much Money Elon Musk Makes Per Second

Elon Musk, entrepreneur and CEO of companies like Tesla and SpaceX , is not only known for his innovations but also for his staggering wealth. In 2022, Musk made headlines when he invested a whopping $44 billion in X, formally known as Twitter. This move sparked discussions about the investment’s value and impact on the platform. Despite expressing buyer’s remorse and even joking about it on social media , Musk’s financial decisions continue to fascinate the public’s attention. How Much Money Does Elon Musk Make Per Second? Elon Musk earns approximately $656 per second, according to CoinCodex . This estimation is from Musk’s reported estimated net worth of $205.2 billion as of January 2024 and the span of over a decade during which he accumulated his wealth. Musk’s earnings per second are over $43,000 per minute, nearly equivalent to the annual full-time wage in the US of $53,490. Musk earns a year’s salary in just one minute, and it takes him only a week to reach a nine-figure...

Feb 27, 2024

The Burns Brothers Are Set To Make History With The First African-American-Owned Private Membership Club In Africa

Global enterprise The Burns Brothers, co-founded by John and Mike Burns, is expanding to international business hubs, per a press release.

Feb 21, 2024

Herman Moore Went From NFL Player To Franchisee Of All Cinnabon Stores In Michigan And Florida During The Early 2000s

The humble beginnings of Herman Moore were not going to stop him from achieving greatness, even beyond his playing days in the National Football League (NFL). According to Detroit Free Press, the former Detroit Lions player was taught by his mother the habit of looking at life from a broader perspective, a practice he maintained even in the face of financial difficulties. “She had me at 21 and worked so many jobs,” Moore told the outlet about growing up in Danville, VA. He continued, “We were a low-income family. We lived on less than $18,000 a year. But she made sure my sister and I always knew the endgame. We lived in government housing and were on food stamps, but that is not an excuse to not excel in life and to also help others.” Moore would lay his own foundation for generational wealth-building in 1991 after being drafted to the Detroit Lions and signing a three-year $2.4 million contract with the team, which included a $1.2 million signing bonus, according to Spotrac. Moore...

Feb 9, 2024

Understanding And Overcoming Imposter Syndrome

Impostor syndrome (also known as impostor phenomenon, impostorism, fraud syndrome or the impostor experience) is a psychological pattern in which an individual doubts their skills, talents or accomplishments and has a persistent internalized fear of being exposed as a “fraud.” Despite external evidence of their competence, those experiencing this phenomenon remain convinced that they are frauds and do not deserve all they have achieved. Individuals with impostor syndrome incorrectly attribute their success to luck, or interpret it as a result of deceiving others into thinking they are more intelligent than they perceive themselves to be. Who Came Up With The Phrase Imposter Syndrome? Imposter syndrome was first identified and coined as a term in 1978 by psychologists Pauline Clance and Suzanne Imes. In their seminal paper “The Imposter Phenomenon in High Achieving Women,” Clance and Imes described imposter syndrome as an internal experience of intellectual phoniness common among...

Feb 2, 2024

Washington D.C.'s Only Black-Owned LGBTQ+ Lounge Is Committed To More Inclusive Spaces For Local Residents And Beyond

Thurst Lounge, Washington D.C.’s new and only Black-owned LGBTQ+ lounge, celebrated a successful grand opening by announcing exciting plans for the future.

Jan 23, 2024

BLK & Bold Co-Founders Steered Their Coffee Business From A Couch And Garage To One Of Iowa's Rapidly Growing Companies

From humble beginnings in a garage, co-founders Pernell Cezar and Rod Johnson have steered their business to become one of Iowa’s rapidly expanding companies.

Nov 3, 2023

Closing the Wealth Gap: How Northwestern Mutual’s Accelerator Program Is Empowering Black Entrepreneurs

Access to resources is one of the most significant barriers to entry for Black entrepreneurs. Whether it is a lack of funding or a gap in training, Black business owners have often found it challenging to tap into the same level of success–at the same rate– as some of their racial counterparts. Northwestern Mutual , a leading financial services company which has been helping people and businesses achieve financial security for more than 160 years, acknowledges this systemic challenge and is committed to investment opportunities that will help reduce the racial wealth gap. One program the company has stood up, its Black Founder Accelerator program, furthers its commitment to championing diversity, equity and inclusion. Based on recent research, Black founders receive less than two percent of venture capital funds. Northwestern Mutual is stepping in and offering each eligible entrepreneur a $100,000 investment and inclusion in a 12-week intensive program. As part of the accelerator,...

Oct 20, 2023

Who Is the Richest Black Man In The World In 2024?

With 8 billion people on this earth, it’s understandable if you don’t know every person who occupies the elite 1%. Many of the wealthiest in the world fly under the radar but own corporate empires so strong they touch virtually every corner of the world. And when you further filter that 1% down to the richest Black people in the world, the answers can be even more elusive. While it’s easy to assume that the wealthiest people of African ancestry must be celebrities , that’s not always the case. Even in the United States, the richest Black man is a venture capitalist and the owner of one of the top private equity firms in the country. Who Is The Richest Man In The World As Of 2024? According to Forbes, Aliko Dangote is the world’s richest Black man (2024), with an estimated net worth of $13.4 billion. Dangote is ranked the 144 th globally wealthiest man in Africa. So where does Dangote’s wealth steer from? The answer is the Dangote Group. The Dangote Group is considered to be one of...

Ceci Kurzman, Investor, Board Member, And Former Music Executive, Launches Data-Tech Platform For Textured Hair Community

Slowly but surely, more solutions are surfacing to assist the textured hair community. OurX happens to be one of them as it’s making its official foray into the haircare industry with a promise to introduce a personalized and innovative data-tech platform.

Jun 6, 2023

Welcome To The Cookout: An Inside Look At How One Founder Is Changing The Snack Game One Bag Of Popcorn At A Time

Picture this: it’s date night, and you just finished dinner; you’ve planned to see the latest film at the theater. Although you’ve eaten a full meal, something about the allure of concession foods seems to be drawing you and your partner in. And the sense that has been most intrigued is your sense of smell by the ever-common popping of popcorn. For many, movie popcorn is top-tier. It is often associated with memories, a sense of connection, and a butter flavor that is pretty difficult to recreate outside the theaters. But with a shift in how moviegoers attend the theater since the pandemic, many people have put more effort into recreating the movie culture at home. And as one would imagine, having the proper snacks is a significant part of that at-home movie atmosphere. What makes at-home movie viewing most like an in-theater experience? It’s the snacks–particularly popcorn. But without the comfort of movie theater popcorn, where can people turn to when the standard grocery option...

Apr 25, 2023

This Founder Spent His Last Penny To Launch A Startup That Serves Financially Underserved Consumers

Eric Blue knew it was his life’s mission to launch Nevly. So, he spent his last penny to ensure underserved communities could practice better financial habits when he founded the fintech startup in 2021.

Mar 7, 2023

SPERGO Founder Trey Brown Recalls Retiring His Mom At The Age Of 13

Today’s generation is breeding an influx of young, exceptional entrepreneurs. Among that talent is Trey Brown.

Jan 26, 2023

The Black Currency And Neotribe Announce The Winners Of Their Virtual Pitch Competition

Coming out on top is a dope feeling; these entrepreneurs know the vibe. Previously, AfroTech reported that Kwame Egerton II and Ackeem Kipp, co-founders of The Black Currency, hosted a virtual pitch competition in partnership with Neotribe. The competition awarded $6,000 in prize money to the selected winners. The pitch competition occurred via Zoom on July 27, intending to provide a space that recognized growth and offered an opportunity for Black business owners to raise funding. While there were only three spots for winners, four businesses were ultimately selected as there was a tie for third place. The first-place winner received $3,000, while the remaining total prize amount was dispersed among the second and third-place winners. You can check out the competition winners and their businesses below. TJL Collection – 1 st Place Winner Tiffany Lewis founded the TJL Collection, a women’s fashion brand exclusively for taller women. The brand caters to women 5’9″ and taller,...

Sep 9, 2022

How A Short Film Streaming Platform Is Redefining The Industry Standard With The Support Of Microsoft For Startups

With the rapidly growing demand for short-form videos on streaming and social media, the world has a much greater appetite for high-quality content that clocks in under 20 minutes. But with short films primarily being shown at festivals around the world, Janvier Wete, CEO and Founder of Minute Shorts, saw an opportunity to make festival-quality content more widely accessible and generate revenue for short films. After feeling frustrated with the process of entering his own short film to festivals in 2017, Wete wondered if he could create a platform to distribute the film and carve a path for others to reach a wider audience. At the time, most short filmmakers couldn’t distribute their work until they’d created a larger budget film. Wete saw how these barriers prevented many talented filmmakers from sharing their work with the world — especially diverse filmmakers. Inspired by how Spotify provided a platform for indie artists, Wete launched the first version of the Minute Shorts...

Aug 22, 2022