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Major changes may be on the way for Jay-Z’s Marcy Venture Partners. The rapper’s venture capital firm, established in 2018, was created to build “innovative businesses and mass-market brands,” its company website mentions. Its areas of investment focus on sustainability, inclusivity, empowerment, accessibility, and health and wellness. As AFROTECH™ previously mentioned, its investment portfolio includes at least 24 companies such as Wheels, an electric transportation company; Hungry Marketplace, a food tech company; and Rihanna’s Savage X Fenty lingerie brand. MVC also participated in a $33 million funding round for premier beauty brand Madison Reed in 2022 and backed 24-year-old technologist Iddris Sandu to embolden his tech incubator, Spatial Labs. “Aligning with Marcy Venture Partners assists with our vision for elevating the youth as it relates to access and a means to true technological empowerment,” Sandu said at the time. “The lasting impact of this relationship is not simply...
When you think of on-air personalities, a few names automatically come to mind such as Oprah Winfrey, Wendy Williams — and Don Lemon. And while their impact on media is varied, the common denominator is their tenure in the roles with their respective media outlets. Winfrey retired after decades of hosting her show, and personal health challenges initiated Williams’ departure from her talk show. Then there’s Lemon, who has parted ways with CNN after 17 years at the network. He is a Baton Rouge, LA, native and began his career while studying at Brooklyn College, working as a news assistant for WNYW in New York City. According to PBS, Lemon would go on to work for several other local news stations in the New York Area; Philadelphia, PA; and Birmingham, AL. He got his big break in September 2006 when he joined CNN. During his time at the global news station, the 57-year-old hosted major news coverage events, including the 2008 Presidential election, the death of Michael Jackson in 2009,...
President Barack Obama knows how to rule a country — and how to make money. Since leaving office in 2016, AfroTech has been keeping up with America’s favorite President and his subsequent money moves. Whether he’s teaching college courses, joining NBA Africa, or launching a podcast series with Spotify, Barack Obama has been working hard for the money. In fact, Obama has been richer than he’s ever been in his life. Since leaving office, he’s grown his net worth by $70 million, and according to some sources, that’s actually a low-ball estimate. Business Insider reports that the Obamas probably have a much higher net worth than $70 million. When fees for their speaking arrangements, a six-figure pension that all presidents receive, and their Netflix deal are all taken into account — not to mention their new business deals that seem to pop up regularly — the Obamas most likely have a net worth of $135 million. But Barack Obama doesn’t just make his money from speaking fees and pensions....
Viola Davis may be one of the most successful actresses in the world today — but she didn’t always have it easy. In an exclusive interview with The Wall Street Journal — whom she sat down with to promote her new Showtime series, “The First Lady,” in which she plays Michelle Obama. T he actress revealed that her humble upbringings forced her to go to extremes to avoid going hungry. “I mean, her Hunger Free program for kids,” Viola Davis said to the outlet, referring to Michelle Obama’s advocacy for the passage of the Healthy, Hunger-Free Kids Act. ” I mention that because I was a kid who was hungry. I grew up in abject poverty. I dumpster-dived. I stole money for food. And I think Michelle Obama, coming from the South Side of Chicago, was very aware of [that kind of poverty].” First Lady Michelle Obama’s advocacy for the act resulted in her husband, President Barack Obama, signing the act into law in 2010. While Davis herself, couldn’t take advantage of the act when she was growing...
Flint, Michigan’s guardian angel Amariyanna “Mari” Copeny — also known as “Little Miss Flint” — provided 1,000 backpacks stocked with school supplies for the Flint community on Aug. 15. My event turned out perfectly despite so much going wrong leading up to the event. 1,000 backpacks 10,000 pencils 1200 packs of crayons 2000 notebooks Tons more supplies Filters Books Covid Shots Resources Inflatables Icecream and food truck https://t.co/ag4LlgjLMb — Mari Copeny (@LittleMissFlint) August 17, 2021 Flint, Michigan made national headlines in 2015 due to concerns from local residents regarding strange odors and prominent discoloration from the water supply causing hair loss, skin rashes, and legionnaires disease, Natural Resources Defense Council previously disclosed. To retain funds, the city made a collective decision to replace water provider Detroit Water and Sewerage. Upon waiting for Flint’s pipeline to connect to Karegnondi Water Authority, the government officially ruled to...
When Angela Bassett renegotiated her salary for “9-1-1, ” her ask made headlines. According to Vanity Fair, her $450,000 per episode salary was dubbed as “historic” because it meant that she could now be one of the highest-paid actresses of color in network television. But, as the outlet correctly points out, Bassett’s salary bump wasn’t just for her acting chops (although to be fair, that’s reason enough to pay her that much). Rather, that salary also encompasses her duties as the executive producer of both the flagship show and its spin-off, “9-1-1: Lone Star.” When that’s factored in, it means that dollar for dollar, she’s not making anything near what she deserves. What’s more, what Angela Bassett is making pales in comparison to what some other Hollywood actresses are making. “Higher per-episode paydays were received by Sofia Vergara, who earned a reported $500,000 an episode of ‘Modern Family’ by the end of that show’s run, and Kaley Cuoco, who reportedly received $900,000 per...
He may be the butt of many jokes, but Nick Cannon — and his bank account — are no laughing matter. According to The Hollywood Reporter, the former star of Nickelodeon’s “All That” signed a massive overall deal with Fox Networks in 2018 that netted him a small fortune. And his massive income has only grown year over year. Despite his recent controversial comments that landed him in hot water, Nick Cannon is still the host of “The Masked Singer,” where the International Business Times reports that he makes about $70,000 per episode. View this post on Instagram A post shared by NICK CANNON (@nickcannon) What’s more, according to the outlet, he continues to make money from other acting gigs, endorsement deals, and anything else that falls under his NCredible Entertainment umbrella. His investment strategy even once got him featured in The Wall Street Journal, where he told professional investors that he was “always taught” to invest in land, even in the midst of a recession. He also...
Watching Malia Obama and Sasha Obama grow up before our very eyes has been a real treat. The Obama girls are a Black political legacy that are a source of pride for Black men and women all over the country. But if you believe their father, Malia Obama and Sasha Obama won’t be following in their father’s footsteps to the White House. “Them as teenagers having Secret Service guys follow them when they were going out on dates I think probably has shut down their interest in public service,” Obama said to James Corden, according to USA Today. “They still have PTSD from guys talking into their wrist microphones and glasses as they’re trying to go to a music concert. But you never know. If they decided to do it, obviously I would be extraordinarily proud of them.” No matter, though, because the Obama girls have plenty of other career opportunities at their disposal. Their parents frequently broker a variety of new deals from animated series to podcasts, and they’re also educated and...