Tag: business finance

The Glow Up 50 2021: Celebrating Our Pioneers of Style

Black creativity is not and never has been a trend—though we have certainly launched more trends than we could possibly count, or have ever rightfully been credited for. Accordingly, in March 2020 we launched The Glow Up 50 to celebrate our own—the tastemakers, trendsetters and boundless creators who elevate our organic aesthetic on a global […]

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Businessman Notoriously Criticized for Exploiting Black Music Artists Calls Out Corporations for Exploiting Black Community

Sean ‘Diddy’ Combs, left, attends the Pre-GRAMMY Gala and GRAMMY Salute to Industry Icons Honoring Sean “Diddy” Combs on January 25, 2020; Spider-Man (1967) “Double Identity” ClipPhoto: Alberto E. Rodriguez/Getty Images for The Recording Academy (Getty Images), Screenshot: Marvel / YouTube (Getty Images) Diddy is dabbling in an interesting (and dangerous) game of “This you??” […]

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Sweep Up the Savings With the Eufy BoostIQ RoboVac 30C, Just $180

Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily. Eufy BoostIQ RoboVac 30C | $180 | Amazon There’s a good chance that your house’s floors have seen a bit more gunk after a year of quarantine. It’s an unfortunate side effect of spending more time […]

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Starbucks, Goldman Sachs, ACLU and Others Pledge to Tackle Racial Wealth Gap by Boosting Black Employment and Business Investments

Photo: Shutterstock Some of the biggest companies in America say they will put their considerable might behind a mission of closing the massive wealth gap between Black people and white people in this country. Advertisement According to analysis by Brookings Institute, the median wealth held by Black households in the U.S. is not even 15 […]

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Maryland Legislators Vote to Pay the State’s HBCUs $577 Million Over the Next Decade in Massive Civil Rights Settlement

Maryland Gov. Larry Hogan vetoed a similar measure last year. The new settlement will now to go him to be signed into law. Photo: Chip Somodevilla (Getty Images) Four historically Black universities and colleges in Maryland will benefit from a $577 million settlement related to a federal lawsuit first brought against the state 15 years […]

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La, La, La, La, Kanye West Got His Money Right—Now Worth $6.6 Billion, Reportedly Richest Black Man in the U.S.

Kanye West speaks on stage at the “Kanye West and Steven Smith in Conversation with Mark Wilson” on November 07, 2019.Photo: Brad Barket/Getty Images for Fast Company (Getty Images) Remember when Kanye West first burst into the mainstream scene and referred to himself as “Kanye Cheddar?” Well, now he has a lot of damn cheese. […]

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Florida Sen. Rick Scott to Governors: Don’t Accept Stimulus Money

Photo: Joe Raedle (Getty Images) It’s said that on the ninth day of creation, God got hungry and because it was late, the only thing open was a 7-Eleven, and God was forced to eat day-old taquitos, which made him vomit and thus, Florida was born. Advertisement Florida, the ass pimple of America, continues to […]

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Triller Network Acquires Verzuz, Swizz Beatz and Timbaland to Join Management Team

Swizz Beatz and Timbaland discussing a Verzuz event.Screenshot: Verzuz/YouTube It looks like it’s a case of owner money Verzuz executive money because creators Swizz Beatz and Timbaland have some huge news! According to Billboard, the streaming platform and global pandemic lockdown-era phenomenon has been acquired by Triller Network, which is the parent company of the […]

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So I Guess Square, Inc. Had Dinner With Jay-Z and Is Now Acquiring a Majority Stake in Tidal

Jay-Z makes an announcement of the launch of Dream Chasers record label in joint venture with Roc Nation; Twitter CEO Jack Dorsey appears on a screen as he speaks remotely during a hearing before the Senate Commerce Committee on Capitol Hill.Photo: Greg Allen/Invision/AP, File (AP), Michael Reynolds/Pool Photo via AP, File (AP) Yes, I’m about […]

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Houston Woman Accused of Spending $3.6 Million in COVID-19 Relief Money on Luxury Homes, Cars and Other Items

Photo: Vitalii Vodolazskyi (Shutterstock) People will never disappoint you as long as you expect people to be disappointing. Yes, that’s a cynical way to start a news story, but what else is there to say about a Texas woman who allegedly received millions of dollars meant to protect small business owners from the economically devastating […]

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Black Lives Matter Says $3 Million Fund for People Struggling From Pandemic Depleted After One Day, Seeks More Donations

Photo: Eugenio Marongiu (Shutterstock) A day after announcing a $3 million fund to support grants to Black people struggling during the ongoing COVID-19 pandemic, the Black Lives Matter Global Network Foundation (BLMGNF) says the fund has been exhausted. On Thursday, in a press release sent to The Root, BLMGNF said it had launched a BLM […]

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Thinking Creatively: The CFDA Launches the IMPACT Initiative to Build a Pipeline for Black and Brown Talent

Photo: Studio4dich (Shutterstock) Representation matters. We hear it, and we know it to be true; we also know it to be good for business. But if the racial reckoning of this past year has proven anything—beyond a need for the long-overdue overhaul of any number of American institutions and industries—it’s that even the most well-meaning […]

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Jay-Z Shares His ‘Empire State of Mind’ With LVMH, Forms Partnership With Moët Hennessy

Jay-Z attends 2020 Roc Nation THE BRUNCH on January 25, 2020.Photo: Erik Voake/Getty Images for Roc Nation (Getty Images) Shawn “Jay-Z” Carter is hellbent on journalists referencing his “I’m not a businessman, I’m a business, man” lyric in the article’s lede with every money move he makes, isn’t he? Oh look, I did it again. […]

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Russell Westbrook Helps Varo Bank Secure $63 Million Investment, Will Address Financial Inequality as Advisor

Photo: Will Newton (Getty Images) I will never in life seek his counsel on fashion choices, but when it comes to money moves, Russell Westbrook is no joke. On Thursday, Varo Bank, America’s first all-digital nationally chartered bank, announced that the nine-time NBA All-Star has come on board as both an investor and advisor. In […]

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‘I Will Not Make That Happen’: Biden Says No to $50,000 Student Debt Forgiveness

Photo: Saul Loeb (Getty Images) Get ready to lower your expectations if you’d been hoping that President Biden would heed the call of some Democrats to cancel student debt up to $50,000 per borrower. The president outright rejected that idea during a town hall hosted by CNN in Milwaukee on Tuesday. Advertisement After a member […]

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Real Hot Girl Hair: Mielle Organics Announces Megan Thee Stallion as Its First Global Ambassador

Screenshot: Mielle Organics (Instagram) Every stallion needs a fabulous mane, and hip-hop’s hot girl Megan Thee Stallion is no exception. The H-Town hottie may be best known for her growing body-ody-ody-ody of hits and epic wig game—but underneath it all, she’s been on a natural hair journey, announcing in December that she and stylist Kellon […]

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Essence Enter a New Era: The Legacy Media Brand Announces Its New Executive Team

Latraviette Wilson-Smith, left, Caroline Wanga, and Cori MurrayPhoto: Paras Griffin (Getty Images), Slaven Vlasic (Getty Images), Paras Griffin (Getty Images) The year known as 2020 was unfathomably challenging by anyone’s estimation; but as Essence magazine celebrated its 50th anniversary, the pioneering and enduring imprint and lifestyle brand, by its own admission, proved not to be […]

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Essence Enters a New Era: The Legacy Media Brand Announces Its New Executive Team

Latraviette Wilson-Smith, left, Caroline Wanga, and Cori MurrayPhoto: Paras Griffin (Getty Images), Slaven Vlasic (Getty Images), Paras Griffin (Getty Images) The year known as 2020 was unfathomably challenging by anyone’s estimation; but as Essence magazine celebrated its 50th anniversary, the pioneering and enduring imprint and lifestyle brand, by its own admission, proved not to be […]

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Grand Closing? Rihanna and LVMH Agree to Shutter Fenty Maison

Rihanna celebrates the launch of FENTY at Bergdorf Goodman on February 07, 2020 in New York City.Photo: Dimitrios Kambouris (Getty Images) One of the buzziest celebrity launches of the decade seems to have met its demise. On Wednesday, a spokesperson from LVMH (Moët Hennessy Louis Vuitton) confirmed that the international conglomerate and Rihanna have agreed […]

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The D&I We Deserve: Ulta’s Newest Diversity and Inclusion Advisor Is Tracee Ellis Ross

Two years ago this month, I gave myself a challenge: realizing that I wasn’t walking the talk I preached daily on TGU, I launched a Black-Owned Beauty Month challenge in February of 2019, restricting myself to only Black-owned cosmetics and personal care products for Black History Month. The results were, at turns, comical, insightful, inspiring […]

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Building a Broader Brand, Sephora’s Incubator Program Announces 8 BIPOC-Owned Prestige Beauty Brands in Development

Photo: theendup (Shutterstock) Any makeup lover is all-too-familiar with the ubiquitous black lacquered displays and striped shopping bags of Sephora—but until recently, finding Black brands on its shelves proved a bit more challenging. The world’s premiere beauty marketplace has been working to change that image, inside and out: after becoming the first retailer to sign […]

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Popular Financial Literacy Podcast Earn Your Leisure Joins the Black Effect Podcast Network

Troy Millings, left, and Rashad Bilal of the ‘Earn Your Leisure’ podcast.Photo: Earn Your Leisure I wouldn’t consider myself an expert at surviving global pandemics, but in my 10 months (and counting) of practice, there are two recommendations that I always make to people who constantly complain about how bored or miserable they are thanks […]

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