Uncle Nearest’s founders are requesting the receivership to be terminated, according to The Lynchburg Times. As AFROTECH™ previously reported, Uncle Nearest — a whiskey brand that reportedly surpassed a $1 billion valuation — was placed under receivership in August 2025 following claims by its lender, Farm Credit Mid-America, that the company defaulted on more than $108 million in loans . The Weavers allege that Uncle Nearest’s former chief financial officer, Mike Senzaki, exaggerated barrel inventory, which led to a $24 million credit increase from Farm Credit, per AFROTECH™. U.S. District Judge Charles E. Atchley Jr. appointed Tennessee attorney Phillip G. Young Jr. as receiver. Young now oversees Uncle Nearest’s Shelbyville, TN, distillery and its “real estate holdings, intellectual property, affiliated ventures, and related entities,” according to the Moore County Observer. On Nov. 24, the Weavers filed an emergency motion to prevent the receiver from taking any further actions...

Beauty trend setter Pat McGrath is exploring an asset sale of her beauty company. Pat McGrath Labs was founded in 2015 and launched its first product, Gold 001, a gold-pigmented mixing liquid used on eyes, lips, limbs, or lashes. It “sold out in record-breaking time” following its launch on social media, according to the brand’s website. One thousand units sold on the site in six minutes, Modaes reported. The brand is sold at retailers including Sephora, Ulta, Nordstrom, Bluemercury, Bergdorf Goodman, Harrods, Revolve, and Selfridges, notes the brand’s website. At Selfridges, it became the retailer’s best-selling beauty brand after launching in stores in April 2019. McGrath’s makeup looks have also appeared on runways for Dior, Prada, Gucci, and Balenciaga, per Pat McGrath Labs. McGrath has served as British Vogue’s beauty editor-at-large since 2017, as AFROTECH™ previously reported. In 2018, Pat McGrath Labs reached a $1 billion valuation, supported by a $60 million investment from...

As a child, Oprah Winfrey understood she was destined for greatness. While many are familiar with her industry start as a broadcast reporter turned television host, she initially aspired to be an actress. However, that was frowned upon by her father, she admitted on the “NXT Chapter Podcast,” hosted by Bishop T.D. Jakes. “I had to make a decision. I’m going to go to college , and I’m going to end up, I thought, teaching. I will teach acting,” she explained. She then received a call during her sophomore year at Tennessee State University from a local television station, which she described as being divinely orchestrated. The station learned about her through a competition she had won in Nashville, TN. She was 16 years old at the time and the only Black girl in the contest. At age 17, Winfrey began working as a part-time radio announcer at Nashville’s WVOL Radio Station. She became the city’s youngest and first Black female news anchor at a station, Poynter reports. She later became...

FaZe Clan, the professional esports and entertainment brand, is officially without five of its core members, leaving fans closely watching what’s next for the Twitch streamers. On Thursday, Dec. 25, 2025, Stable Ronaldo, Jason “Jasontheween,” Nick “Lacy,” Jerry “Silky,” and Alexander “Adapt” each announced their departure from the Los Angeles–based organization on X, according to The Times of India. The news came after days of fan speculation, with the creators noticeably absent from recent FaZe content. Among the group, Adapt shared the most detailed statement. “Left @FaZeClan 14 Years. Over half of my life, I’d be lying if I said this didn’t hurt, but it had to be done. Thank you to everyone who’s been apart of this journey, the best is yet to come,” Adapt posted. Former FaZe Clan CEO Richard “Banks” addressed the situation, stating that he had no involvement in the recent events. He expressed sadness over the departures while wishing everyone involved the best. “I have nothing to...

The Department of Education has announced it will be garnishing wages for individuals who are in default on their student loans, The Washington Post reports. Beginning the week of Jan. 7, nearly 1,000 borrowers will be notified if their wages will be garnished, notes the outlet. The number of borrowers notified will increase over time. Almost 5.3 million borrowers have been in default for almost a year as of June 30, and many borrowers have been in default since before the COVID-19 pandemic, per The Washington Post. An estimated 6 million student loan borrowers were late on their payments as of August 2025, according to Urban Institute. ABC News reports that if loans are in default, the government can carry out mandatory collection through wage garnishment or withholding tax refunds and federal benefits such as Social Security. “We are evaluating ways to improve the fiscal health of the nearly $1.7 trillion student loan portfolio to safeguard the interests of both students and...

Is the stock market open today, Friday, Dec. 26, 2025? According to Naples Daily News, yes, U.S. stock markets are open. While much of the federal government remains closed following a Dec. 18 executive order from President Donald Trump granting additional holidays this week, U.S. financial markets are operating on a regular schedule. According to Section 1 of the executive order titled “Providing for the Closing of Executive Departments and Agencies of the Federal Government on December 24, 2025, and December 26, 2025,” all executive departments and agencies are closed from Wednesday, Dec. 24, through Friday, Dec. 26, 2025, with federal employees excused from duty on both days. However, U.S. financial markets operate independently of the federal government’s holiday schedule. While federal offices may close by executive order or congressional action, stock exchanges set their own trading calendars, which are approved annually and rarely change. After closing at 1 p.m. ET on...

Mike Tyson has filed a lawsuit against his former cannabis business partners. Tyson owns a venture-backed cannabis brand called Tyson 2.0, as AFROTECH™ previously told you. Tyson also acquired Ric Flair Drip, Inc. in 2022 to commercialize pro wrestler Ric Flair’s intellectual property, leading to the launch of cannabis products featuring Flair’s likeness. Front Office Sports reports Carma HoldCo Inc. and LGNDS partnered to distribute products from Tyson 2.0 and Ric Flair Drip. Tyson also assumed the role of Carma’s chief executive officer in April, according to a press release. “Carma HoldCo was built on the belief that powerful stories and even more powerful products can change how people connect with wellness, entertainment, and culture,” said Tyson in the release. “This isn’t just a title — it’s a responsibility I take seriously. I’ve wanted to be more involved for a long time, and now is the right time to take that step. I’m fully committed to making sure everything we create...

Paul Pierce balled out with his first check in the NBA. Getting Drafted The California native was drafted in 1998 by the Boston Celtics, where he would later win his first and only championship ring in 2008. He signed a four-year deal valued at $6.3 million, which amounted to an average salary of $1.6 million annually, per Spotrac. Splurging First Check Pierce said his first check in the NBA amounted to $1 million during his rookie year. However, most of it was gone within the blink of an eye. “When I got drafted No. 10, my check for the year was $1 million,” Pierce said on the “Club Shay Shay” podcast. “We had a lockout (a pause in pay during league negotiations), so cut that in half. So then $500,000, right? Taxes. Cut that in half. So really all I had was about like [$200,000].” Shannon Sharpe, the podcast’s host, interjected about having to pay an agent, which would lower Pierce’s cut further. “Yep. So knock that down,” Pierce said in response. “I needed me an apartment to rent,...

DeAndre Brown didn’t expect to make money as a content creator at the start of his journey. Brown has built a following around his trademarked persona, The Corporate Baddie®, which highlights how Gen Z is navigating the workforce while prioritizing their work-life boundaries and mental health. He has 1.1 million followers and 76.5 million likes on TikTok alone. This year, his partnerships include Vaseline, La Roche-Posay, and Delta. @imdrebrown The best part of being a SkyMiles Member? I’m earning miles with @delta just by living my life ✨ #deltapartner ♬ original sound – DeAndre Brown His first brand deal was with LinkedIn, and his biggest brand deal with CVS led to an $80,000 payday, as AFROTECH™ previously reported. Brown admitted he initially didn’t expect to make money from social media. “I didn’t expect to make money from this when I was doing it at first. I didn’t expect it to become a business,” he admitted on the “Awf The Record” podcast hosted by journalists Mona Kosar...

Angel Reese admitted that the WNBA doesn’t pay her bills, yet her efforts beyond the court place her among the highest-paid in women’s sports. As AFROTECH™ previously reported, Reese comes from humble beginnings. She shared that she “used to be broke” and would clock in to work at Smashburger before going to practice in high school. Then the name, image, and likeness (NIL) policy, which went into effect in 2021, allowed Reese to find financial security. She secured deals with brands such as Coach, Wingstop, McDonald’s, Raising Cane’s, and Reebok. She transitioned to the pros, signing with the WNBA’s Chicago Sky as the seventh overall pick in 2024. According to Spotrac, she is under a four-year contract worth $324,383, with a base salary of $74,909. In a 2024 live, she admitted her league salary doesn’t cover her bills. “The WNBA don’t pay my bills at all. I don’t even think that pays one of my bills. Literally,” she said in a 2024 live. Partnerships Reese’s business moves off the...

As the U.S. labor market shows signs of strain, new federal data indicates Black workers are experiencing rising unemployment at a faster pace than the workforce overall. According to the latest report from the Bureau of Labor Statistics (BLS), the unemployment rate for Black Americans climbed to 8.3% in November, marking its highest point since 2021. In early 2025, conditions appeared more stable. In May, Black unemployment fell to 6.0%, its lowest rate of the year and 1.8 percentage points above the overall unemployment rate of 4.2%, according to BLS data. Since then, that gap has steadily grown. By November, the unemployment rate for Black workers was 3.7 percentage points higher than that of the total U.S. workforce, per the BLS. Job losses among Black workers have also outpaced those of the general population. NBC News reports that while the overall unemployment rate increased by 0.4% from May to November 2025, the unemployment rate for Black workers rose by 2.3%. The broader...

Emma Grede always wants to operate from a place of authenticity and intention. During a panel held on Saturday, Dec. 6, for Saint & Citizen’s Saint Week at the Rubell Museum in Miami, FL, which brings together artists, designers, musicians, and thinkers who are innovating within the fashion industry today and for its future, she reflected on her identity and its role in shaping who she is today. Grede comes from Trinidadian and Jamaican roots and was raised by her Jamaican stepdad’s family. “So much of my identity was forged by the stories and the things that I’ve heard. And then of course, as a human being, you evolve. You evolve into a new identity. And I’d be lying if I said that so much a part of who I am today has come from me really spotting who I wanted to be, and being at conflict with that at times. When you grow up in a place like I did, you don’t always want to be that,” she shared on the panel. “I think that I had a really big vision and idea of what I wanted to be in...

Charlamagne Tha God is scaling his media empire. The radio host, podcast executive, and entrepreneur has signed a five-year, $200 million deal with iHeartMedia. According to a news release, the agreement keeps Charlamagne on “The Breakfast Club,” the long-running morning show syndicated across more than 100 iHeartMedia stations, while significantly expanding The Black Effect podcast network — his joint venture with iHeartMedia. The deal places him in the company of creators like Joe Rogan. According to Forbes, the 47-year-old’s vision is to make the network “the BET of podcasting,” a platform designed to develop, distribute, and monetize Black-led audio content at scale. Launched in 2020, The Black Effect network has rapidly expanded. Per Deadline, it now includes more than 60 shows and generates approximately 11 million monthly views. “The Breakfast Club” remains the network’s flagship programming, with its podcast replay surpassing 1 billion downloads earlier this year, notes the...

Black farmers are rejecting President Donald Trump’s Farmer Bridge Assistance Program. On Dec. 8, it was announced in a press release that the U.S. Department of Agriculture (USDA) was offering $12 billion in one-time bridge payments to assist farmers who have been impacted by market conditions and rising production costs, with the blame placed on the Biden Administration. Farmer Bridge Assistance Program Eleven billion dollars of that funding will support the Farmer Bridge Assistance (FBA) Program, which will benefit U.S. row crop farmers producing barley, chickpeas, corn, cotton, lentils, oats, peanuts, peas, rice, sorghum, soybeans, wheat, canola, crambe, flax, mustard, rapeseed, safflower, sesame, and sunflower, notes the release. The program is intended to support farmers until further investments come from the One Big Beautiful Bill Act on Oct. 1, 2026. “Four years under the failed Biden Administration continues to leave the American farm economy reeling from record inflation,...

Anthony Joshua, one of the highest-paid boxers in the world, is returning to the ring with Jake Paul. Jake vs. Joshua Most Valuable Promotions and Netflix announced Anthony Joshua — the two-time heavyweight champion and Olympic gold medalist — will face Jake Paul at the Kaseya Center in Miami, FL, on Friday, Dec. 19, a release shared with AFROTECH™ states. There will be three eight-minute rounds fought in 10 oz gloves, BBC reports. The preliminary card starts at 4:45 p.m. ET/1:45 p.m. with the main card at 8:00 p.m. ET/5:00 p.m. PT on Netflix. The live matchup can be viewed on Netflix’s Tudum and Most Valuable Promotions’ (MVP) YouTube Channel. Nakisa Bidarian, CEO of MVP, said regarding the match, “From legendary champions to world-class broadcasters, this group reflects the standard we’ve set for Jake vs. Joshua: Judgment Day. Together with Netflix, we’re building a fight week and fight night experience that feels truly historic, and this team is central to bringing that vision to...