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Team ownership is not completely off the table for billionaire Mark Cuban. Cuban was former majority owner of the NBA’s Dallas Mavericks since 2000, purchasing stake in the team for $285 million, mentioned Fortune. At the time, he felt he was at an advantage due to his knowledge in technology and media. However, in recent years he recognized a shift towards real estate as necessary to be successful in team ownership. As a result, he chose instead to sell most of his stake to the Miriam Adelson family, controlling shareholder of Las Vegas Sands Corp., in December 2023 in a deal valued at $3.5 billion. He now maintains a 27% stake in the Dallas Mavericks and is in control of its basketball operations as well as serves as the alternate governor, according to the NBA. “When I first bought [the Mavericks] in 2000 I was the tech guy in the NBA. I was the media guy. I had every edge and every angle,” he explained on the “All-In Podcast.” “Now fast-forward 24 years later. In order to...
Coco Gauff has scored a new victory. The tennis star reigned supreme in her match at the China Open held in Beijing on Oct.6, 2024, against the Czech Republic’s Karolina Muchova, which led to a 6-1 6-3 victory. In the process, she has become the first American since Serena Williams to become a champion in the China Open, CNN reported. Furthermore, this brings her Women’s Tennis Association tour finals record to 8-1, per Blavity. “I‘m happy with the fight I showed during the past two weeks here in Beijing and very grateful to walk away with the @chinaopen title❤️. Thank you for all of the love and support! #Histimingisperfect #title,” Gauff, 20, wrote on Instagram. View this post on Instagram A post shared by Coco Gauff (@cocogauff) According to AS USA, Gauff also walks away with $1.1 million in prize earnings as a result of the match. She now adds to her $27.1 million net worth, which was last updated by Forbes on Aug. 23, 2024. At the time, this consisted of salary and winnings...
Stephen A. Smith knows his worth. The ESPN sports journalist and host of “First Take” is currently signed to an annual $12 million deal with the network that will be intact until June 2025. As previously shared by AFROTECH™, his salary includes an $8 million yearly salary and a $4-million-per-year production contract. Furthermore, with talks of renegotiations on the table, it has been rumored that Smith is seeking a $100 million contract to remain with the network for an additional five years. Recently, he addressed those rumors during a taping of “Who’s Talking to Chris Wallace” on Max. He was asked by Wallace, “Your ESPN contract is, what we’re told, up next year and the word on the street is, you want something in the range of $100 million for five years. True?” While Smith did not confirm whether there was any truth behind these numbers, he did confirm he is looking to be paid his worth. “I’m not getting specific as it pertains to numbers, because only a fool discusses his own...
Meghan Markle has been intentional about investing in female-led companies over the years, The New York Times reports. Markle, a former actress and Duchess of Sussex through her marriage to Britain’s Prince Harry, has taken advantage of the limelight to provide greater visibility to brands. A bag she wore from Scotland brand Strathberry after her engagement in 2017 was sold out in 11 minutes. She said that moment “changed everything in terms of how I then looked at putting an outfit together.” It has led her to become more intentional about what brands she aligns with and wears. Markle also mentioned, “Times where I know there is a global spotlight, and attention will be given to each detail of what I may or may not be wearing, then I support designers that I have really great friendships with, and smaller, up-and-coming brands that haven’t gotten the attention that they should be getting. That’s one of the most powerful things that I’m able to do, and that’s simply wearing, like,...
Kordell Beckham spoke his dream partnership into existence. Beckham, a Houston, TX, native and brother of NFL player Odell Beckham Jr., was among the Season Six cast of “Love Island USA” and ultimately won the coveted $100,000 cash prize with fellow contestant and love interest, Serena Page, US Weekly reports, with the two still a couple today, according to Forbes. Beckham plans to invest his portion of his “Love Island USA” earnings, per Access Hollywood. Beckham’s knack for business was highlighted during the season in a chat with Page, with whom he explained his career as a model and an aircraft fueler. Blavity reported he has even worked for Odell Beckham Brands, which offers men’s grooming products. Beckham also mentioned that he would like to be a homeowner in the future and is interested in securing a sponsorship with snack brand Cheez-It. “I can’t get enough of Cheez-It,” he told Page. Upon exiting the villa, Beckham and Page conducted a series of interviews, including one...
Charles Barkley claims to have left a considerable amount of money on the table to remain with TNT. The former- basketball -player-turned-television-host joined the network back in 2000, and viewers have since watched his take on “Inside the NBA” alongside Ernie Johnson Jr., Kenny Smith, and Shaquille O’Neal. In 2022, Barkley extended his commitment to TNT, signing a 10-year $210 million contract, according to Front Office Sports. His impact in the field has been valuable to the network and media landscape earning him four Sports Emmys and leading to his induction into the Sports Broadcasting Hall of Fame, CNN reports . However, recently the future of “Inside the NBA” was brought into question when it was announced TNT may lose media rights to the NBA. USA Today reports the NBA did, in fact, decide to move forward with “a long-term arrangement with Amazon” because TNT Sports’ parent company, Warner Bros. Discovery, did not match Amazon’s offer. The NBA said the move would go into...
MC Lyte wrote her first single at 12 and later became a pioneer in Hip Hop. The Brooklyn, NY, rapper, born Lana Michele Moorer, would bet on herself early on and auditioned for First Priority Records, in front of its signees Kirk “Milk Dee” Robinson and Nat “Gizmo” Robinson, as the label, ran by Nat Robinson, were looking to sign a female artist. With the permission of her mother at the time, she went to the audition, which was held in a basement. “Here I am going to this guy’s basement in Brooklyn. It could have ended so many different ways. However, I laid the first rendition of ‘I Cram to Understand U’ down on there,” she said in an interview with “The Breakfast Club” podcast. Ultimately, MC Lyte’s talents led to her signing to the label in 1986, per Blackpast. She reveals she was given a $5,000 advance, which was spent to purchase a vehicle. “I got an advance, which was $5,000, and I took that $5,000 and I put it on my Jetta, the whole thing like ‘Yeah that’s all I need is a...
Tia Mowry is influenced by her role as a mother to fight for pay equity. During a virtual interview with AFROTECH™, the actress, mother of two, and founder of haircare line 4U by Tia was vulnerable about the challenges at hand as she navigated the entertainment industry, not only as a woman but a Black woman. By the numbers, disparities are prevalent. Forbes reports the highest paid actresses in 2018 made 24.8 cents for every dollar earned by male actors, and this equated to $186 million earned by the top 10 highest-paid female actors and $748.5 million compensated to the top 10 highest-paid male actors. When considering the numbers for Black women actresses the numbers become acute as well. They earn 64 cents for every dollar made by a white actor, according to research conducted by the National Partnership for Women and Families. For Mowry, the harsh reality of inequity cannot be overlooked, but she remains unwavering in her commitment to her craft and to championing change,...
Many people first came to know Keke Palmer as the pre-teen spelling whiz in “Akeelah and the Bee” in 2006. A few months before the drama film’s release, “Madea’s Family Reunion” began showing in theaters. Directed, written, and produced by Tyler Perry, at age 11, Palmer played the role of Nikki, a young girl who became Madea’s foster daughter. Nearly two decades after “Madea’s Family Reunion” was released, Palmer is continuing to show gratitude to Perry for the acting gig. While the media mogul was a guest on the longtime actress’ podcast, “Baby, This Is Keke Palmer,” she recalled the movie set and cast feeling like a family. “Everybody felt like my aunties and uncles and cousins and just family and friends,” Palmer expressed to Perry. “That was a great experience.” Palmer also recalled how Perry went above and beyond when it came to the check she received from the film. “That was the first time that I have ever been in a movie, and it introduced this for me in business,” Palmer...
Da’Vinchi, 28, has been on quite a roll in Hollywood. From shows like “Grown-ish” to “All American,” the Haitian-American actor has been stacking roles. However, Da’Vinchi’s starring role and portrayal as Terry “Southwest T” Flenory on 50 Cent’s “BMF” (or “BMF: Black Mafia Family”) on Starz is his biggest gig to date. Although Da’Vinchi, born Abraham D. Juste, has made a name for himself in the acting world, he is transparent about coming from humble beginnings. In an interview on REVOLT’s “The Blackprint,” the Brooklyn, NY, native was open about the way he grew up. “I grew up in poverty,” Da’Vinchi told host and REVOLT CEO Detavio Samuels. “A very normal situation that most of us grow up in, but of course while you’re in it you don’t really know it because everyone else is like that around [you] until you switch environments. And then, you start realizing the depths of the lack that you were in.” He added, “The poverty that I faced was you don’t have all the meals throughout the...
Hello Alice is continuing its commitment to serving underserved entrepreneurs. In partnership with the Global Entrepreneurship Network (GEN), Hello Alice has officially launched the next round of Baltimore Gas and Electric Company’s (BGE) Energizing Small Business grant program. The initiative offers $20,000 grants to central Maryland businesses to help them succeed and thrive, according to the Hello Alice website. No stranger to empowering local small businesses, the BGE Energizing Small Business grant deployed more than $2.5 million in grants to 129 small businesses in central Maryland in 2023. “When small businesses thrive, they become powerful economic engines, creating even more opportunities in their communities and we are so pleased to celebrate today’s grant recipients,” said BGE President and CEO Carim Khouzami in the 2023 grant announcement. “Since 2019, BGE has granted over $13 million to small businesses throughout Central Maryland. This is in addition to other small...
Household names in American sports are more commonly associated with athletes from the NBA, NFL, and MLB. However, some athletes outside these organizations have broken past the ubiquitous fandom of American basketball, football, and baseball — one being Formula 1 superstar Lewis Hamilton. The British native’s journey into racing began at the tender age of 8 when he was gifted a used go-kart, coming in at a price point equal to his family’s monthly income, according to Formula 1. Hamilton’s story is a testament to the power of family support, as he participated in local racing events, won championships, and honed his skills with their backing. His dedication to his craft led to him winning his first F1 race, the Canadian Grand Prix, at the age of 22. This win was especially noteworthy as Hamilton was the first Black driver in the sport. In July 2024, the 39-year-old won his 104th race at the British Grand Prix, while already holding the honor of winning the most Grand Prix titles of...
Serena Williams was playing to win. As AFROTECH™ previously reported, Williams was purely satisfied by the game, and money was an afterthought. So much so that she would often forget to pick up her prize money after tournaments. “When I started tennis, first of all, I’m from Compton, CA, and I remember playing on these courts, and my life was great. I never felt like I needed anything. So for me, money was never a motivation,” Williams explained on Bloomberg Originals’ “The Deal” podcast hosted by Alex Rodriguez and Jason Kelly. “I remember when I first started, back in the day, they used to write out checks after you won your tournament. And I would always forget to get the checks. And so at the end of the year they would always have to say, ‘Serena, we have all these checks for you.’ I’m like, ‘Oh my God.’ And at the time, I had an accountant who would be like, ‘Serena, they sent me all these checks that you would forget to get from the tournaments.’” While she reveals she was...
Fantasia Barrino had to answer to Uncle Sam and almost lost her home in the process. As AFROTECH™ previously reported, the singer had vocalized her financial troubles that followed her “America Idol” win in 2004. She was sued by her father two years later and had difficulties with money management and understanding contracts. “It wasn’t easy,” she told PEOPLE. “I lost a lot. I lost everything.” Barrino’s circumstances almost even cost her the mansion she had been living in with her family in North Carolina, according to Forbes. She was served by the court for the first time due to owing $1 million in taxes, and her home could have been put up for auction as a result. “I had a bunch of people on my team who said ‘hey we’re handling all the business,'” she shared during ForbesBLK Summit 2024. “I look up and I owe a million dollars in taxes. So, because of that my lawyer didn’t show up to court, and then they put my house up for auction.” She continued, “I get a knock at the door, and...
Simone Biles is anticipated to be part of her third U.S. Olympic team. According to NBC News, the 37-time world and Olympic medalist’s “scoring potential is the highest of any gymnast in the world.” Therefore, she will most likely make the U.S. team in all-around, vault, and floor events. However, despite her appearance, Biles will not be paid for her time at the upcoming Olympics, NBC Insider reports. The International Olympic Committee over the Games explained that operating under a for-profit model would harm the sports being featured as a whole, leading to the sports that generate more money having a stronger presence. “Imagine if the IOC were to organize the Olympic Games on a for-profit business model,” the International Olympic Committee explained to NBC Insider. “The event would be limited to those sports that generate the most significant revenues, and it would not involve athletes representing teams from 206 NOCs [National Olympic Committees]. It would not be Olympic Games...