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Luol Deng has an impressive real estate portfolio. NBA Career The South Sudan native first generated wealth while playing in the NBA. He was drafted in 2004 by the Phoenix Suns as the seventh overall pick, but was quickly traded to the Chicago Bulls, according to Marca. He went on to play for the Cleveland Cavaliers, Miami Heat, Los Angeles Lakers, and Minnesota Timberwolves across his 15 seasons. He was a two-time NBA All-Star and retired in 2019 with $166.1 million in career earnings, Spotrac reports. Mentorship From Current JPMorgan Chase CEO Jamie Dimon The money is still rolling in for Deng as a result of the seeds that were planted ahead of his foray into the league. Forbes reports that while playing at Duke University, Deng befriended the daughter of JPMorgan Chase CEO Jamie Dimon. That relationship led to mentorship in real estate from Dimon, who at the time was living in Chicago as the CEO of Bank One. Dimon also welcomed Deng to the city after the Chicago Bulls drafted...
T.I. is reshaping his perspective around AI. On the rapper’s podcast “expediTIously,” which has more than 619,000 subscribers (at the time of this writing), he weighed in on technology, — something that has a stronghold across various industries including music. Some in the industry are banking on AI-powered music creation platforms like Suno. Timbaland is an advocate for Suno and serves as its strategic advisor, as AFROTECH™ previously told you. Dr. Dre is also leveraging AI while producing works for Bruce Springsteen, T.I. confirmed on the podcast. It was the Compton, CA-born and “Nuthin’ but a ‘G’ Thang” artist who changed T.I.’s viewpoint around AI. “I think it’s dangerous. Initially I have been emphatically against it,” T.I. explained. “However, I talked to Dr. Dre and you know he was telling me about you know he’s producing for Bruce Springsteen and he telling me that he’s using some AI. He sent me some stuff that he did on AI, and he was like ‘No it’s still work. You still...
Beyoncé has officially reached billionaire status. The Houston-born entertainer and businesswoman has been working professionally since she was a child as a member of Girls Tyme, which later became Destiny’s Child. The group was managed by her father, Mathew Knowles. Parkwood Entertainment Beyoncé has taken greater agency in her career through a slew of moves. In 2010, she launched Parkwood Entertainment, formerly Parkwood Pictures, which is responsible for her music and video production, management, marketing, digital, creative, philanthropy, and record label, Parkwood Music, according to its LinkedIn page. “When I decided to manage myself, it was important that I didn’t go to some big management company,” Beyoncé explained at a Q&A held during a SVA Directors Screening in 2013. “I felt like I wanted to follow the footsteps of Madonna and be a powerhouse and have my own empire and show other women when you get to this point in your career, you don’t have to go sign with someone...
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...
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,...
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...
Usher is teaming up with Big Sean to invest in Detroit youth. According to a news release, the pair is investing $1 million to launch an innovation incubator that will support youth looking to become content creators. The investment is poised to tap into the growing creator economy, which, according to Goldman Sachs, is projected to become a $480 billion industry by 2027. The incubator will be situated within the Michigan Central Boys & Girls Club of Southeastern Michigan, which is set to open in February 2026, notes the press release. Both Usher and Big Sean bring their experiences as Boys & Girls Club alumni, to this investment. The incubator will offer young people ages 14–24 access to creative technology, hands-on learning, and mentorship from executives and creators, preparing them to pursue careers in film, television, and music production, as well as in AI, 3D, immersive technologies, and special effects. What’s more, it will also provide seed funding to launch paid creative...
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...
Kimora Lee Simmons’ business empire is not to be played with. Modeling Simmons today wears many hats in the industry, but one of her earliest was as a supermodel. She began modeling at 13 when she signed with the house of Chanel by Karl Lagerfeld, according to WWD. Chanel was her first casting, and she moved to Paris at the time. However, she had to make the move alone because her mother wasn’t able to go with her, She was working for the government in social security at the time. “I was homesick. I was running up $5,000 a month phone bills,” Lee recalled on “The Skinny Confidential” podcast. Simmons remained under contract with Chanel. She acknowledges that times were hard, but she wasn’t happy with her life in St. Louis. She ultimately chose a lifestyle of being surrounded by supermodels at 31 Rue Cambon, Chanel’s headquarters. She has also walked the runway for Armani, Fendi, Valentino, Tracy Reese, Isaac Mizrahi, and Marc Jacobs, WWD reports. Simmons did want a game plan to...
Tyra Banks is reportedly being sued for her ice cream venture. As AFROTECH™ previously reported, the supermodel and her mother always shared a love for ice cream, which inspired Banks to open an ice cream truck in Dubai, United Arab Emirates, that also shipped pre-packaged pints to the U.S. SMiZE & DREAM From there, Banks expanded the business. In June, Banks opened up an ice cream shop called SMiZE & DREAM in Sydney, Australia, which was a sweet surprise for her mother, Carolyn London. “The woman who gave me everything, even when she had nothing left to give. And here we are, in front of the wildest dream I’ve ever built: An ice cream paradise come to life. Her strength. Our long journey. One massive dream, scooped into reality,” Banks wrote on Instagram. View this post on Instagram A post shared by Tyra Banks (@tyrabanks) A month later, it was announced that Banks was bringing SMiZe & DREAM to Washington, D.C. As AFROTECH™ previously reported, the ice cream shop was set to carry...
David Robinson is suing his business partner for millions. Robinson and Daniel Bassichis are co-founders of private equity firm Admiral Capital Group, which launched in 2008. The pair also has real estate under Admiral Columbus LLC. According to the San Antonio Express-News, now Robinson, Admiral Capital, and two associated firms have filed a lawsuit seeking more than $34 million in damages, alleging that Bassichis committed fraud, conversion, civil conspiracy, and more. Robinson’s stake in Admiral Capital is 51% while Bassichis owns the remaining stake. Separately, Bassichis owns an investment firm focused on real estate, Vero Capital. According to Bassichis’s LinkedIn profile and the firm’s website, it was founded in 2007. However, the lawsuit claims Bassichis launched the firm in 2022, a year after receiving “the blessing of Robinson,” with the goal “to expand his individual investment opportunities” and “to create a separation” from Admiral Capital. Reportedly, Admiral Capital...
Dionne Warwick is being sued for millions. Lawsuit Explained According to Music Business Worldwide (MBW), a complaint was filed against Warwick by Artists Rights Enforcement Corporation, which claims it had a contract with Warwick, signed in January 2002, that would allow it to pocket 50% of her royalties through her work as a Scepter Records artist. It also notes that in February 2922 after signing the contract, Warwick filed a complaint against Warner Bros., Warner Strategic Marketing, Warner Special Products, and Atlantic Recording Corporation over claims that she was not compensated fairly for the royalties from her song “Then Came You.” The aftermath of the 2002 lawsuit was a settlement that required all future royalty statements and payments owed to Warwick to be directed to Artists Rights Enforcement Corporation, which has been receiving her royalty payments for distribution since, notes MBW. The rights management firm states it has been working with the artist for decades,...
An affordable housing project supported by NBA great Allen Iverson in Newport News, VA, is moving forward. Iverson Landing 13 News reports that Iverson teamed up with developer Alvin Keels Jr. on the project named Iverson Landing, which is geared toward working families and part of an overall effort to increase housing options in the Hampton Roads region of Virginia. Newport News Mayor Phillip Jones has also been vocal about affordable housing options with a goal of opening 21,000 affordable housing units by 2050, and he intends to reach it by working with emerging developers “who will shape the future of our communities,” he said in a Facebook post. This puts Iverson and Keels’ project squarely in line with a broader agenda to invest in affordable housing. The Iverson Landing will be based in Newport News, Iverson’s hometown, which he credits with shaping the person he is today — an NBA legend, Naismith Memorial Basketball Hall of Famer, tech investor, and vice president of Reebok...
Beyoncé Knowles-Carter is still on top. ‘Cowboy Carter’ Tour The artist has been having quite a year. Her most recent album, “Cowboy Carter,” was released in March 2024 and honored her southern country roots. She earned Grammy awards for “Album of the Year” and “Best Country Album” the following year and began a global tour. “This was born from my love and respect for the rich country genre,” Beyoncé told Pollstar about “Cowboy Carter.” “The overall intention for this tour was to celebrate American resiliency,” she continued. View this post on Instagram The “Cowboy Carter” tour has now become the top-earning world tour in 2025. According to IQ Magazine, the tour generated $407.6 million from 1.57 million ticket sales, across 32 shows. “The impact of the ‘Cowboy Carter’ era on the country genre will only continue to grow. It has reinvigorated a space that now has a new audience. And in ten years, the young girls and boys who saw the show will become adults who believe they can be...
