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On Sept. 28, 2022, the world was shocked when Coolio passed away. The rapper — whose given name was Artis Leon Ivey, Jr. — went into cardiac arrest, and was found unresponsive on a friend’s bathroom floor. He was only 59-years-old. Though Coolio was, perhaps, best known for the song “Gangsta’s Paradise” — a track which sampled Stevie Wonder’s “Pastime Paradise” from his super-smash legendary album, “Songs in the Key of Life” — he was also considered one of the pioneers of the West Coast subgenre of rap. As might be expected, though, the “Fantastic Voyage” rapper’s legacy was all but immediately revisited upon his passing. According to Billboard, the rapper’s streams jumped by more than 260 percent during the week of Sept. 28th. What’s more, the outlet reported that this percentage jump translated to more than 19 million pure streams of his various songs. And finally, the aforementioned “Gangsta’s Paradise” received more than 14 million of these new streams in that week alone. “After...
President Biden’s student loan forgiveness plan is back in the news — mostly because of how confusing it all seems to be. When AfroTech originally reported on the President’s plan, there was some intimation that it may favor higher-income parties. “Despite the $125,000 income cap, research shows the White House plan still slightly favors higher-income Americans: Analysis of a $10,000 blanket relief program published Tuesday by the Penn Wharton Budget Model found 69.79% of overall debt forgiveness would go to the top 60% of Americans by income, while individuals who make between $82,400 and $141,096—placing them between the 60th and 80th percentile—would receive the greatest share of overall forgiveness, at 28.1%, though the additional relief for Pell grant recipients should bring further benefit to lower-income borrowers,” read our report, according to a Forbes article about the matter. But, the reality of the student loan forgiveness plan is a lot more complicated than originally...
What do T.I. and Kim Kardashian have in common? They both have run afoul of SEC disclosures. Kardashian has to pay the Securities and Exchange Commission (SEC) a total of $1.26 million for her failure to disclose a payout for promoting a cryptocurrency. According to the SEC’s official website, Kardashian received $250,000 from EMAX tokens, a cryptocurrency offered by EthereumMax. While SEC disclosures don’t forbid “influencers” to receive compensation for promoting crypto-coins, they do require that said influencers disclose when they receive payment for said promotion, which Kardashian didn’t do. As a result, she has agreed to pay a fine. “The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, in the official release. “Investors are entitled to know...
When it comes to smart investments, Beyoncé is the queen — and there’s no greater proof of this than her super-successful Parkwood Entertainment. With headquarters in New York City and Los Angeles, Parkwood — so named after the street where Beyoncé once lived in Houston, TX — has a multitude of departments under its vast umbrella. In fact, according to Billboard, the company expanded its reach into the tech and business sectors back in 2016, when the company underwent an important managerial restructuring. “Last year, Parkwood Entertainment created new departments and recruited new executives from the tech, business and entertainment sectors who joined the team to help grow Parkwood and its interests,” said Yvette Noel-Schure, Beyoncé’s longtime representative, to the outlet. “Lee Anne Callahan-Longo has worked with Beyonce for the last 10 years. Their friendship supersedes business, and while she is no longer an employee of Parkwood, she will remain an imperative part of Beyonce’s...
Over the years, Serena Williams has proven that she’s the GOAT. Her prowess on the tennis court — a court from which she recently retired — has earned her a $240 million net worth, which has made her one of the richest self-made Black women in the world. But that’s only the beginning of the Serena Williams story. Today, the tennis player-turned-multihyphenate has made her money work for her. As AfroTech previously reported, Williams teamed up with another GOAT — basketball star Kevin Durant — to invest in Happy Viking, a plant-based superfood company owned by Williams’ beloved sister and fellow tennis GOAT, Venus. “Happy Viking has raised $2 million in an investment round led by Venus Williams, Serena Williams, Kevin Durant and Rich Kleiman’s 35V, Peloton Vice President of Fitness Programming Robin Arzón, professional golfer Michelle Wie West, soccer champion Megan Rapinoe, tennis star Reilly Opelka, and basketball stars Isaiah Hartenstein and Collin Sexton,” reads the press release...
On February 11, 2012, Whitney Houston passed away, but thankfully her legacy lives on forever. The world knows Houston as the legendary voice that sang the sweetest gospel, pop, and R&B. But as AfroTech previously reported, Houston’s sudden passing left her estate in a bit of turmoil. Most of the troubles stemmed from the nature of her $100 million artist contract — the last she signed with Sony/Arista. Celebrity Net Worth reveals that, ultimately, Houston only earned $40 million out of the total $100 million that her record company owed her. It’s important to note that record companies don’t pay out the full value of the contract upon signing — and in Houston’s case, she was in debt to Sony/Arista at the time of her $100 million signing, which made the accounting even more complicated. “An artist is paid in stages, and each payment is essentially a loan based on the success of future albums,” reports the outlet. “Whitney only ever earned $40 million of her $100 million contract but...
The most profitable shoe deals in the NBA, in total, generate billions of dollars for the sneaker industry. And yet, the most profitable shoe deal on this list goes to a man who hasn’t stepped on the basketball court in more than two decades. “Wholesale revenue at Nike’s Jordan Brand subsidiary hit $3.14 billion in the fiscal year ending May 2019, up 10% from 2018,” reports Forbes, who compiled the initial list of the most profitable shoe deals in the NBA today. “ MJ’s annual take is an estimated $130 million, four times more than that of James, the No. 2 earner, with $32 million. Arguably, 16 years after he last laced up his own high tops on the court, more Jordan-branded shoes and apparel are being sold than the signature lines of every other current NBA player. Combined.” The business of sneakers is a profitable one and one that has made millions of dollars for basketball players that have been lucky enough to get into it. In fact, according to Forbes, the vast majority of NBA...
Nichelle Nichols has passed away. The groundbreaking actress, who first came to prominence in the role of “Lt. Uhura” in the “Star Trek” series, succumbed to natural causes at the age of 89 on July 31, 2022. Her son, Kyle Johnson, issued a statement on his mother’s official website to share the devastating news with fans. “My mother, Nichelle Nichols, succumbed to natural causes and passed away. Her light, however, like the ancient galaxies now being seen for the first time, will remain for us and future generations to enjoy, learn from, and draw inspiration,” he wrote. “Hers was a life well lived and as such a model for us all. I, and the rest of our family, would appreciate your patience and forbearance as we grieve her loss until we can recover sufficiently to speak further. Her services will be for family members and the closest of her friends and we request that her and our privacy be respected.” More than just a life well lived, however, is the legacy she left behind. As our...
Whenever Beyoncé gets trending, we know that big things are happening. In this case, Mrs. Knowles-Carter is currently enjoying a musical “Renaissance” as she slowly releases information on her much-anticipated new album. Queen Bey’s devoted fans, the BeyHive, have been getting a special treat on Twitter when they’ve been seeing a unique emoji on the social media platform that’s generated any time someone tweets out something with the hashtag #BeyHive. That’s right — the hashtag generates a Queen Bee emoji! (Get it?) But more than just the anticipated music, Beyoncé has given her devoted fans millions of reasons to love her. One doesn’t become a world icon by accident, and one certainly doesn’t generate wealth without making more than a few smart investments along the way. So smart are her investments, in fact, that Bloomberg called the “Homecoming” singer “recession-proof” back in May 2022. From Uber stock that paid off big time to smart investments in thriving Black-owned...
Today, Whoopi Goldberg may be known for being a firebrand on “The View” to some, but that barely scratches the surface. Before she became a daytime talk show host, Whoopi Goldberg was one of the few actresses to become a coveted EGOT winner. Goldberg has taken home all of the industry’s coveted awards — and was, in fact, the first Black woman to do so, according to Vulture. In addition, Goldberg was the first Black actress to receive Oscar nominations for both Best Actress (which she did for “The Color Purple,” though she didn’t win) and Best Supporting Actress (which she did for “Ghost,” and ultimately took home the trophy). She’s also one of only three women performers to take home the Grammy for Best Comedy Record and was the first Black woman to take home the Mark Twain prize for humor (which she did in 2001, per Vulture). In short, Whoopi Goldberg has had a career filled with “firsts,” and it’s no wonder, then, that she’s earned a $60 million net worth (per Celebrity Net Worth)...
James Brown was a musical legend — but his failure to engage in estate planning prior to his passing away left his family in financial turmoil. As AfroTech previously reported, the “Mother Popcorn” singer had an estate that was estimated to be worth more than $100 million. But when he died in 2006, his will was nothing if not vague. According to Smithsonian Magazine, the Godfather of Soul merely made provisions for the value of his estate to be designated for scholarships for children in need. Given how James Brown grew up — in a small wood cabin in the rural town of Elko, SC — it would make sense that he’d want nothing but the best for those who may be like him. But needless to say, his will was contested almost immediately after his passing thanks to his complicated legacy. And, after a costly 15-year battle, his heirs finally sold the value of his estate for $90 million to Primary Wave Music. This settlement, however, is not without its issues. “For the past 15 years, several...
Ulysses Bridgeman — aka Junior Bridgeman — may not be one of the most famous players to ever grace a basketball court. However, that really doesn’t matter because it’s what he did after his time in the NBA was over that really made an impact. At the peak of his career, Junior Bridgeman made $350,000 in a season. And though that’s certainly a respectable salary, it pales in comparison to what modern-day NBA greats like Michael Jordan and LeBron James make. That said, NBA salaries in the 1970s and the 1980s, in general, were not what they would become in the 21st century. And while there are many NBA players who lose all their money after they stop playing — with the most infamous example being, perhaps, Dennis Rodman (though, in fairness, it wasn’t his fault) — Bridgeman flew in the face of conventional wisdom and, instead, became a multi-millionaire in his own right. According to Celebrity Net Worth, he amassed a net worth of $600 million after becoming one of the most successful...
Billed as a successful reality television franchise with more than 30 series worldwide, the “Real Housewives” franchise is one of the most successful reality television series of all time. The Orange County version of the franchise was the first to hit Bravo, making its premiere on the reality network back in 2005. As other versions of the franchise hit the air, the series became more and more popular, and the latest installment — dubbed “The Real Housewives of Dubai” — hit the airwaves in June 2022. Despite all these incarnations, the show is not without its controversies. As AfroTech previously reported, Nene Leakes — the breakout star of the Atlanta installment of the series — filed a lawsuit against Bravo, and the series’ executive producer Andy Cohen, alleging that she was being subjected to a racially insensitive work environment. “The ex-Housewife felt like a ‘workhorse’ whose talents were over-used and under-appreciated (and under-compensated). She also claimed that her...
Dwayne “The Rock” Johnson is paid . Celebrity Net Worth reveals that the wrestler-turned-actor and entrepreneur has a net worth of more than $800 million — and, like many celebrities, part of that net worth comes from how much he gets paid from making sponsored social media posts. What’s most impressive, however, is that this net worth has doubled in less than a year. It’s no secret that The Rock gets paid quite a handsome sum of money — and that’s because he has a tequila company called Teremana Tequila. He is also one of the top-paid actors in Hollywood today — and one of only four Black men on the list. And he also owns a football league, for which he paid $15 million to own. View this post on Instagram A post shared by therock (@therock) But how much does he get paid per Instagram post? A recent report from HopperHQ revealed that the top-paid Instagram stars aren’t who you think they might be. “Cristiano Ronaldo scores the top spot in the list for the second year running,...
James Harden shocked the basketball world today. In an unprecedented move, the NBA superstar — who currently plays guard for the Philadelphia 76ers — rejected the team’s initial offer of more than $47.4 million to re-sign with the team. The news was broken on Twitter by Shams Charania of The Athletic. Philadelphia 76ers star James Harden is declining his $47.4 million player option for the 2022-23 season and intends to return on a contract in free agency that gives the team financial flexibility to bolster the roster, sources tell @TheAthletic @Stadium . — Shams Charania (@ShamsCharania) June 29, 2022 If James Harden had accepted the offer, he would have been one of the highest-paid players in the league today, according to Highly Clutch. What’s more, the outlet confirms that Harden’s move serves as a stark contrast to the moves made by Russell Westbrook and Kyrie Irving — who re-signed their player deals with the Los Angeles Lakers and the Brooklyn Nets, respectively. With the...