Business
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East Coast, West Coast, Worldwide: Akon’s Business Ventures Are Legend, but His New Music Enterprise Is One of His Most Boundary Breaking Yet
The instant Akon joined me at The Root’s office in a skyscraper overlooking Times Square, he seemed at ease. With his publicist in tow, he strolled in, falling headfirst into a conversation we were having about the huge buzz around upcoming events in Accra, Ghana in December (AfroNation and Afrochella); a pilgrimage so massive, hotels…
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‘Hot Girl Summer’ Officially Belongs to Megan Thee Stallion
Just in time for summer’s end, “Hot Girl” Megan Thee Stallion got her wish and was awarded a trademark for the song title and phrase she made go viral, “Hot Girl Summer.” Citing information from the U.S. Patent and Trademark Office database, Complex reports that Theory Entertainment LLC (the legal name for Megan’s label, 300…
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Rohan Marley, Son of Reggae Legend Bob Marley, Is Looking to Go Into the Business of — What Else? Weed
Rohan Marley, the entrepreneur and son of reggae great Bob Marley, has made moves to go into the medical marijuana business in the state of New Jersey. Marley, who has strong ties to the state — having helped raise the five children he had with singer Lauryn Hill there — has applied for a permit…
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Did You Know Hasbro Now Owns Death Row Records? It’s True and We’re Not Playing Games
To all you toys out there, who don’t want to be under a parent company where the CEO…all up in your playpen, all in the sandbox, dancin’…then come to Death Row! This is how I imagine it went down in the Hasbro, Inc. boardroom, once the acquisition of Death Row Records was finalized. You read…
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Ebony’s Historic Photo Archive Sells for $30 Million to Group Led by J. Paul Getty Trust
Seven decades’ worth of historic Ebony magazine photos documenting black life, both the everyday and the extraordinary, sold for $30 million at auction to a group of philanthropic organizations led by the J. Paul Getty Trust. The photo collection was put up for sale to settle the debts of the magazine’s founding publisher, Johnson Publishing,…
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Meet the 4 Black Men Who Are Shaking Up the White Male-Dominated Venture Capital Investment World
The last few months have been a whirlwind for four young black businessmen who are quickly becoming superstars in the business investment arena. In a space long dominated by white men, these brothers are carving out a niche that champions investing in businesses owned by women and people of color. John Henry, a co-founder of…
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#ImWithKap: Nike’s Market Value Jumps $3 Billion After Colin Kaepernick Gets Betsy Ross Sneakers Pulled From Shelves
Republicans have been big mad since Nike decided to pull its Betsy Ross-inspired Air Max 1 USA sneakers. But it turns out that being on the right side of history just netted the footwear and apparel company a cool $3 billion in market value. Who knew pissing off conservatives could be so lucrative? Forbes reports…
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‘Inclusive by All Means’: Meet Donae Burston, the Black Spirits Guru Who Launched His Own Luxury Rosé
“Sipping rosé” has new meaning now that Donae Burston owns the brand La Fête du Rosé. Loosely translated as “Rosé Party,” Burston’s spirit creation, not to be confused with the traveling event of the same name, is an inclusive affair that acknowledges what we all know: Black people drink rosé. Like, a lot—and bougie black…
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Grind Like That to Shine Like This: Meek Mill Is Now the Co-Owner of Lids Hats
Meek Mill just got that “Bag of Money,” or as they say: When life imitates art. According to his recent interview with Business Insider, the 32-year-old rapper, born Robert Williams, is officially the co-owner of Lids. “You know, this is my boss year,” he told the publication. “A lot of what I’m doing, I’m trying…
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Shaquille O’Neal Wants In On the Sneaker Biz: ‘I Would Love to Purchase Reebok’
Since his retirement from the NBA in 2011, NBA Hall of Famer Shaquille O’Neal has been just as dominant as he was on the court. His estimated net worth of over $400 million is a byproduct of a diverse portfolio that includes franchise ownership, investments and lucrative endorsements with companies like Gold Bold and Carnival…