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Rihanna’s impact on the beauty world continues to grow, and now it’s earned a place in history. Time Magazine has named the billionaire’s Fenty Beauty Foundation to its 2025 Best Inventions Hall of Fame list. View this post on Instagram A post shared by FENTY BEAUTY BY RIHANNA (@fentybeauty) Since debuting in 2017, Fenty Beauty’s Foundation has been credited with helping to reshape the cosmetics industry. At a time when many makeup brands offered only a narrow selection of tones, Fenty Beauty launched with 40 shades, giving people with deeper complexions more options that matched their skin. Time noted that the foundation “set a new standard for the industry” and inspired other companies to expand their offerings. “Makeup is like a secret weapon. It can go from very subtle to a complete transformation,” Rihanna told Time in a 2017 interview. She said it was “important that every woman felt included” and added that she was fully involved in the product’s development, working...
NBA legend Magic Johnson relies on his intuition when it comes to making business deals. The billionaire holds stakes in several teams, including MLB’s Los Angeles Dodgers, MLS’s Los Angeles Football Club, WNBA’s Los Angeles Sparks, NFL’s Washington Commanders, and NWSL’s Washington Spirit, AFROTECH™ previously reported. He most recently expressed interest in owning the New York Knicks, telling ESPN “First Take” host Stephen A. Smith that he’d be “first in line” if current Knicks owner James Dolan ever put the team up for sale, according to Fadeaway World. Last year, Johnson expressed his excitement about joining the Washington Spirit’s investor group. “I’m so excited to join the Washington Spirit’s investor group at such a pivotal time in the club’s history!,” he said in an Instagram caption. “Partnering with a visionary like Michele Kang and her team to advance the growth of the Washington Spirit and the NWSL is an incredible opportunity.” View this post on Instagram A post shared...
At a time when many billionaires were expanding their empires or chasing vanity projects, Bill Gates was choosing a different path. According to Fortune, the Gates Foundation, one of the most influential philanthropic institutions in modern history, has announced a final, ambitious chapter: a $200 billion commitment over the next 20 years to tackle some of humanity’s most pressing problems, after which the foundation will close its doors permanently. This is not a rebranding effort or a gradual fade into the background. It is a strategic decision to concentrate every remaining resource for maximum global impact. With this move, Gates places a historic bet on humanity’s ability to collaborate, innovate, and confront inequality head-on. Gates Foundation Sets 2045 As Its Final Year Gates is donating nearly all of his remaining personal wealth—an estimated $100 billion—to the Gates Foundation, effectively doubling its resources. The foundation will now operate with a projected total of...
With space being the next great frontier, many big names have been throwing their hat in the ring to venture beyond Earth’s atmosphere. Space exploration has become the name of the game for several companies that strive to make humans a multi-planetary species. Mankind’s growing need for resources has seen an increased interest in galaxies far, far away, however, the vision of life on Mars will take plenty of money and research before it can be realized. While many people know of Elon Musk’s SpaceX, there is another contender that is making headlines for its’ out of this world exploration . Blue Origin, another privately owned space company, has made headlines over the last year for launching space missions with iconic crew members . On Monday, Apr. 14, they continued that trend by sending the first all-female crew (including celebrities like Gayle King and Katy Perry) on a mission. Here’s what we know about Blue Origin’s owner , history and latest ventures. Blue Origin Is Owned By...
Shannon Sharpe says he could have been a billionaire if he had moved forward with an investment in Google. During an episode of Sharpe’s “Club Shay Shay” podcast, which featured billionaire businessman Mark Cuban, the host reveals he lucked out of a six-figure investment in Google after receiving advice from his financial team. The opportunity to invest in what has become a major tech giant was while he was in the NFL signed to the Baltimore Ravens. He was under a four-year contract — although he remained with the team for only two seasons, during 2000 and 2001. The contract was valued at $13.8 million, which encompassed a 4.5 million signing bonus and $4.5 million guaranteed, according to Spotrac. “I remember when Google came out and they thought shares were gonna open up at about $85 a share. And I remember sending it to my financial guys, and I was like — ‘Oh, you know what?’ I had just signed with the Ravens, so I had some money. And I was like, ‘Man, I’d like to buy $300,000...
Robert F. Smith is the second-richest Black man in America. Smith follows behind David Steward, the founder of IT management company World Wide Technology, who boasts an $11.4 billion net worth to secure the top spot among Black individuals, Forbes notes. View this post on Instagram A post shared by AFROTECH (@afro.tech) Smith’s return to the list is a result of his role as founder, chairman, and partner at Vista Equity Partners, a firm that invests in enterprise software, data, and technology companies, per its website. With more than $100 billion in assets since its inception, its portfolio companies include Forcepoint, Comply, Datto, Brainware, and InfoBlox, among others. In 2024, Vista Equity Partners made additional billion-dollar moves. This includes joining Blackstone in the acquisition of Smartsheet — an enterprise platform for modern work management — for an all-cash transaction valued at $8.4 billion in September, as AFROTECH™ previously told you. “Modern enterprises rely...
Following PowerSchool Holdings Inc.’s multi-billion-dollar acquisition, Vista Equity Partners has retained its minority stake in the company. According to a press release, PowerSchool Holdings Inc., which operates as a cloud-based K-12 education software, was acquired by Bain Capital through a transaction that was valued at an estimated $5.6 billion, with the company paying $22.80 per share in cash. Bain Capital plans to build on PowerSchool’s successful track record, with its software impacting 60 million students and 18,000 customers across more than 90 countries. “PowerSchool is aligned, throughout its entire organization, to its mission to personalize education and improve learning outcomes,” David Humphrey, a partner at Bain Capital, said . “We’ve had the privilege of seeing the leadership team’s dedication to this mission through a world-class product innovation engine.” Bain Capital Partner Max de Groen added, “We are thrilled to support PowerSchool’s mission and growth as it...
If you’re familiar with Memphis rap, you know the classic song “Where Dem Dollas At” by Gangsta Boo. While the late rapper’s song is a staple for those who live in the southern city, it also serves as a calling call for anyone looking to level up financially. And one of Memphis’ most prominent figures, Ja Morant, is tapping in and making plans to get all the “dollas” he can. The Memphis Grizzlies point guard declared that he wants to be a billionaire by age 30.
Tyler Perry is known for bringing comedic relief to characters and situations that can be tough to navigate. This process is meant to make things that are hard to deal with more palatable. His character Madea is often the center of the comedy in Perry’s work. Ironically, one of Madea’s many funny but memorable moments is centered around death. In one of Perry’s productions, the outspoken grandmother was confronted with the end of a loved one and boldly stated a phrase that had people in stitches but also had them a little confused. “People dying that ain’t never died before.” And while that statement doesn’t make much sense in a structured way, the theory behind it alludes to the unpredictable nature of death. Although death is nothing new, the news of it still comes as a surprise. And when it happens back to back under unexpected circumstances like those of several leaders in the cryptocurrency industry, it makes you consider the validity of Madea’s statement. However, this is no...
In 2020, Kanye West was marked as the second billionaire in Hip-Hop. The rapper’s stake in Yeezy (adidas) brought him to $1.3 billion, as previously reported by AfroTech. Back then, Forbes was the outlet to confirm West’s billionaire status. Now, it has been one of the first to report on how his recent actions could jeopardize that same status.
