Financial experts say the increase does not necessarily signal a weakening economy.
More Americans are turning to personal bankruptcy as mounting debt, elevated borrowing costs, and the expiration of pandemic-era financial assistance continue to strain household finances, according to new federal court data, NPR reports.
More than 574,000 personal bankruptcy cases were filed during the 12-month period ending March 31, according to the Administrative Office of the U.S. Courts. That marks a nearly 12% increase from the previous year and almost a 50% jump compared with three years earlier, though filings remain below pre-pandemic levels.
Financial experts say the increase does not necessarily signal a weakening economy. Instead, it reflects that more consumers facing prolonged financial hardship have reached the point where bankruptcy has become their most practical option.
“It’s telling us that consumers are having a harder time coping with their financial obligations,” Sasha Indarte, a finance professor at the University of Pennsylvania’s Wharton School, told the outlet.
Personal bankruptcy allows individuals who can no longer meet their financial obligations to seek court protection while restructuring or eliminating qualifying debt. Depending on the filing type, consumers may enter a court-approved repayment plan or have certain debts discharged. Filing also triggers an automatic stay that temporarily stops most collection efforts.
“Possibly the biggest benefit of petitioning the court for bankruptcy is that all your creditors then have to stop harassing you,” Mary Eschelbach Hansen, a bankruptcy economist at American University, said.
While bankruptcy remains on a consumer’s credit report for years, researchers say many people overestimate its long-term effect. Samuel Antill, an assistant professor at Harvard Business School, found that most filers begin rebuilding their credit within about a year after filing.
Experts note that bankruptcy filings plunged during the COVID-19 pandemic as stimulus payments, expanded unemployment benefits, and other federal relief programs helped many households stay afloat. As those programs ended and consumers continued grappling with inflation, higher interest rates, and accumulated debt, filings gradually returned to more typical levels.
Still, economists caution that bankruptcy filings should not be viewed as a standalone measure of the economy because they represent consumers experiencing the most severe financial distress rather than the financial health of households overall.
For some Americans, however, bankruptcy provides a path toward financial recovery instead of failure. Oklahoma City resident Rebecca Lessley, who filed for bankruptcy after losing her job and falling behind on debt payments, said learning that several friends had gone through the same process helped erase much of the stigma.
“I, in a way, feel a sense of relief,” Lessley said. “Maybe this is what I needed to get me back into a better position and to have a little bit more financial success.”
Beyond The Plate: ‘A Taste Of Black Cleveland’ Drives Economic Impact For Local Entrepreneurs
The annual culinary showcase demonstrates the commercial benefits of sports partnerships.
Partnerships among corporate sports franchises, advocacy groups, and local entrepreneurs generate economic momentum beyond the arena. This was clear at Rocket Arena on July 16, where the eighth annual Taste of Black Cleveland: The Food Showcase featured more than two dozen Black-owned food businesses and drew a sold-out crowd of more than 1,100 attendees.
Events like this are more than cultural celebrations; they are essential for scaling small businesses, securing capital, and forming institutional partnerships. In a market where Black founders often face barriers to visibility and funding, corporate-backed initiatives with multiple stakeholders provide a proven basis for sustainable growth.
The event was produced through a partnership among the Cleveland Cavaliers, Aramark Sports + Entertainment, the Cleveland NAACP, and Black CoLabs. Offering premier arena facilities and direct consumer access, this partnership connects grassroots food vendors with large-scale exposure.
Congratulations to our 2026 A Taste of Black Cleveland 8.0 winners! ✨
These talented chefs wowed our guests with thoughtfully curated culinary creations, showcasing the incredible flavors and culture that make Cleveland’s Black-owned food scene so special! pic.twitter.com/4MArjzBP3r
“Each year, A Taste of Black Cleveland shines a light on the rich culinary scene our city has to offer, and this year’s expanded voting categories reflect just how much our Black-owned business community has grown,” said Kevin Clayton, executive vice president and chief impact and equity officer of the Cleveland Cavaliers. “This event only happens because of the hard work chefs and business owners put in every day, and tonight is a chance to celebrate them and show why Cleveland is becoming a true culinary destination.”
Organizers sold 1,150 tickets out of a 1,200-person capacity, ensuring strong customer turnout for participating brands. In addition to marketing exposure, the event provided direct financial support. Winners in six categories each received $1,500, and remaining proceeds were reinvested in participating restaurateurs, the Cleveland NAACP branch, and the Cavaliers Community Foundation.
Organizers prioritize long-term wealth building and business retention. In past years, several participating restaurants reported increased revenue and new business opportunities from their involvement in the event. For example, after appearing at Taste of Black Cleveland, previous vendors opened additional locations or secured major catering contracts with community groups. Danielle Sydnor and LaRese Purnell, co-founders of Black CoLabs, emphasized that providing direct commercial opportunities for Black founders is vital for local economic development.
“We are overwhelmed each year by the support and energy in the room; it’s contagious,” Sydnor and Purnell said in a joint statement. “Forty-five percent of the businesses were first-time competitors, and two walked away as first-place winners. This event for us has always been about economic impact, so please support these businesses throughout the year.”
The event’s high attendance provided a valuable setting for customer acquisition and experiential marketing. Business owners used creative branding to stand out. Calvin Willis, owner of No Fork in Beachwood, engaged patrons with handheld marquee signs and lights while offering unique menu items such as chicken alfredo push-pops. Willis noted that high-density events require entrepreneurs to improve differentiation strategies because attention immediately affects sales.
To reflect industry changes, organizers expanded the competition to include catering, full-service dining, food trucks, carryout, vegan options, and desserts. Participating businesses are selected through an open application process held several months before the event. Local Black-owned food businesses can apply online or be nominated by community partners. Selection criteria consider culinary quality, business sustainability, and community involvement.
House of Creole, operated by Miskiri Hospitality Group, won the full-service restaurant category for the second time. We Want Smoke BBQ won the new catering category, recognized for its 17-hour smoked brisket. Soul City B-B-Q earned the top food truck title as a first-time entrant. Mama Joyce’s Soul Food won the carryout division, Freshlyfe took the vegan category with plant-based crab cakes, and Kake Kutters received top honors for dessert.
For House of Creole, winning the prominent industry showcase offers validation. General Manager Roger Gairy stated that customer recognition in major sports venues builds market trust and drives growth opportunities.
Cleveland NAACP Branch President Edwin Hubbard Jr. pointed out the importance of creating lasting, profitable opportunities for Black businesses in major cities. He emphasized that continuous economic support transforms seasonal events into lasting community equity, representing a strong model for urban economic empowerment.
IShowSpeed Reportedly Buys $11M Warehouse To Build Massive Content Creation Studio
The property is expected to serve as a central hub for content production and business operations.
IShowSpeed is reportedly expanding his media business with the purchase of an industrial warehouse near Miami that is expected to become a dedicated production studio as the YouTube star continues building his creator enterprise, Afrotech reports.
According to the outlet, a real estate publication, The Real Deal, reported that the 21-year-old streamer, whose real name is Darren Watkins Jr., acquired a 26,600-square-foot warehouse on a 1.8-acre property for approximately $10.75 million. The property, located in Miami’s West Little River area, is expected to serve as a central hub for content production and business operations.
The reported purchase represents one of the largest business investments of Watkins’ career and reflects a growing trend among top digital creators who are purchasing permanent production facilities rather than relying on rented studio space. Fellow creator MrBeast has also invested in a large-scale production campus as leading online personalities continue expanding into full-scale media companies, according to the outlet.
Watkins rose to prominence through gaming livestreams before broadening his content to include travel, sports, and real-world challenges. His global broadcasts, including high-profile livestreams across several African countries, have helped him build one of YouTube’s largest audiences, surpassing 50 million subscribers in 2026.
His growing influence has translated into business opportunities beyond streaming. Watkins has secured partnerships with brands including Dick’s Sporting Goods, Beats by Dre, and Doritos. Forbes also included him among its list of highest-paid creators of 2026, estimating his earnings at approximately $30 million.
Watkins’ profile continued to grow during the 2026 FIFA World Cup, where he collaborated with FIFA throughout the tournament and later appeared during the closing ceremony.
Reflecting on his journey afterward, Watkins encouraged aspiring creators to remain committed to their goals.
“Four years ago, I was in my mom’s house, screaming, barking, ‘Siuuu!’ Cristiano Ronaldo! Siuuu!’… A kid from Ohio … just doing anything, and I just performed at the World Cup final,” Watkins said in a YouTube video. “You can do whatever you want… Just believe.”
How LeBron James Built A $100 Million Empire Through Fenway Sports Group
The NBA superstar's 2011 strategic investment in Liverpool FC highlights the power of equity ownership and financial empowerment for Black investors.
In 2011, NBA superstar LeBron James invested $6.5 million to acquire a 2% minority stake in Liverpool Football Club. At the time, many in the sports media saw this as a unique endorsement deal because James was only one year into his six-year, $109 million contract with the Miami Heat. Today, this investment is recognized as a landmark business move highlighting the power of equity ownership and long-term financial empowerment for Black entrepreneurs and institutional investors.
According to SportsBible, James’ initial investment has generated a return of about 1,567%, with his equity now valued around $100 million. This gain came from a tactical decision in 2021 when James, 41, exchanged his 2% direct stake in Liverpool FC for a 1% ownership stake in Fenway Sports Group (FSG), Liverpool’s parent company.
A Masterclass in Equity and Portfolio Diversification
FSG’s valuation has grown substantially across its varied sports portfolio. Forbes estimates FSG’s total value at $12.95 billion, supported by assets like the Boston Red Sox, Pittsburgh Penguins, New England Sports Network, and Liverpool FC. Liverpool FC alone is valued between $5.4 billion and $6.2 billion, making James’ stake in FSG worth between $100 million and $129.5 million. Over his 23-year NBA career, James, who recently signed a contract with the Philadelphia 76ers, has earned over $1 billion in salary, but this investment shows how strategic equity can generate wealth beyond direct earnings.
James’ financial voyage provides a valuable model for financial empowerment. Historically, Black athletes have generated significant revenue for brands, universities, and leagues but have seldom secured long-term equity in parent organizations. James’ approach changes this situation by moving from high-earning talent to equity partner.
Strategic Synergies and Operational Excellence
Liverpool FC’s financial success resulted from disciplined operational management that directly increased James’ asset value. When Fenway Sports Group acquired the club in 2010 under principal owner John Henry, Liverpool faced inconsistent performance and monetary problems. According to Liverpool FC financial statements, ownership implemented a turnaround strategy based on analytics-driven decisions, strict budgeting, and focused investments. By hiring Jürgen Klopp and adopting data-focused recruitment, the club won nine major trophies in seven years while keeping net transfer spending to about $55 million per year.
This operational excellence produced significant global brand growth. Sports Illustrated reports Liverpool’s on-field success coincided with commercial expansion, increasing its international digital following by 40 million and generating $719 million in annual revenue with $102 million in operating income in 2024. James contributed to this cooperation. In 2020, FSG secured a five-year apparel agreement with Nike, where James holds a lifetime partnership.
The Broader Impact on Black Ownership in Sports
Liverpool’s balance sheet demonstrates corporate discipline uncommon in European sports, maintaining a low debt-to-value ratio of just 3%. This conservative approach protects asset value throughout financial volatility and offers a key lesson for Black-owned businesses managing difficult capital markets. While sports franchises are illiquid and valued on projections rather than immediate cash, James’ role in FSG places him among the top global sports leaders.
James’ $6.5 million investment has turned into a model for global asset strategy. Apart from financial returns, it supports his wider goal of becoming a majority owner of an NBA expansion franchise. For Black entrepreneurs, executives, and investors, James’ experience with FSG shows that lasting financial empowerment comes from acquiring, growing, and retaining institutional equity, not just earning high salaries.
Darrell Spencer Turned ‘Crowned Skin’ Into an 8-Figure Grooming Empire
The former Meta and Google strategist explains how scent, storytelling, and digital community helped Crowned Skin disrupt men’s personal care.
The modern men’s grooming industry is no longer simply about looking polished. It is about presence, confidence, identity, and cultural influence. Few founders understand that evolution better than Darrell Spencer.
The Chicago native and former technology strategist transformed Crowned Skin from an ambitious idea into an eight-figure men’s grooming business. Through cologne-infused skincare, memorable fragrance storytelling, and a digital-first strategy, the brand has captured attention across TikTok, climbed Amazon’s rankings, and helped spark a broader conversation about luxury self-care for men of color.
Spencer’s experience at companies including Meta, Google, and LinkedIn gave him a front-row view of how audiences discover, engage with, and ultimately purchase from brands online. He brought those lessons into Crowned Skin, positioning the company at the intersection of grooming, culture, confidence, and digital commerce.
After introducing Crowned Skin to millions of viewers on Shark Tank, Spencer is now expanding the company beyond skincare and into fragrance and lifestyle products. His larger ambition is not merely to generate viral moments; it is to build an enduring, globally recognized Black-owned brand.
BLACK ENTERPRISE spoke with Spencer about leaving corporate America, converting online attention into customer loyalty, expanding into fragrance, and building a company capable of creating both cultural influence and generational wealth.
Leaving successful careers at Meta, Google, and LinkedIn to build your own company was a significant leap. At what point did you know entrepreneurship was worth betting on, and what risks were you prepared to take?
There was not one defining moment. Instead, there was a growing realization that I wanted to spend my career building equity rather than building someone else’s vision.
Working at companies like Google and Meta taught me how category-defining businesses scale, but entrepreneurship gave me the opportunity to create something that could outlive me.
The risks were obvious. Leaving behind stability, a salary, and prestige was not easy. But I believed that betting on myself would ultimately provide the greatest opportunity to create wealth and impact.
Crowned Skin has grown from an idea into an eight-figure business in a remarkably short time. Looking back, what were the one or two decisions that fundamentally changed the trajectory of the company?
The biggest decision was refusing to build only a product and choosing instead to build a brand.
From day one, we were not simply trying to sell body butter or cologne. We were creating an experience and introducing a new ritual centered on confidence, attraction, and self-care for men.
The second decision was betting on digital before it became the obvious playbook. My experience at Meta, Google, and LinkedIn taught me how attention moves online, but more importantly, it taught me how to convert attention into action.
We built Crowned Skin with storytelling at its core. That allowed us to create meaningful relationships with our customers rather than simply acquiring transactions.
Many entrepreneurs struggle to convert viral attention into long-term customers. How have you intentionally transformed social media momentum into sustainable revenue and brand loyalty?
Virality is rented, but loyalty is earned.
Through our product and brand development, we set out to create and own a new category within men’s grooming. Every viral moment has to bring consumers into a larger world that gives them a reason to stay.
For us, that means exceptional products, consistent education, and a grooming ritual that customers genuinely enjoy returning to.
Our incredible team has built systems that allow us to nurture the community long after a customer’s first purchase. We do that through email, social media, customer experience, product innovation, and continued storytelling.
The goal is not simply to generate another viral video. It is to create customers who proudly introduce Crowned Skin to someone else.
Appearing on Shark Tank introduced Crowned Skin to millions of viewers, but your success began long before stepping onto that stage. How has the experience impacted the business, and what misconceptions do people have about what happens after securing an investment?
Shark Tank amplified awareness, but it did not build Crowned Skin.
It is an incredible platform that can accelerate a business, provided that the company has the internal infrastructure needed to support increased demand. It has been exciting to engage with new customers who discovered us through that experience.
The years leading up to that moment were filled with product development, customer feedback, operational challenges, and thousands of small decisions that most people never see.
One misconception is that receiving an investment solves every problem. In reality, it simply gives you another opportunity. You still have to execute every single day.
The greatest value was not just the capital. It was the validation that our vision resonated on one of the world’s largest entrepreneurial stages. We remain grateful for the opportunity to share that vision.
Crowned Skin recently expanded into fragrance with the launch of its Eau de Parfum collection. What inspired this next chapter, and how does the fragrance line fit into your broader vision of building Crowned Skin into a global luxury lifestyle brand? Are there additional categories or innovations consumers should be watching for?
Fragrance felt like a natural evolution because our customers were already telling us that they wanted their favorite Crowned Skin scents to last even longer.
That led us to introduce our Eau de Parfum collection and further develop what we call Scentmaxxing™, our philosophy of building fragrance through intentional layering rather than relying on a single spray.
Long-term, we are not simply building individual products. We are creating a fragrance wardrobe centered on confidence, ritual, and self-expression.
Consumers can expect us to continue expanding across fragrance, grooming, and adjacent lifestyle categories while maintaining the premium experience that has defined Crowned Skin from the beginning.
As Crowned Skin continues to expand, what does success look like beyond revenue? Is your long-term vision centered on building a legacy brand, creating generational wealth, or changing how Black-owned businesses compete on a global stage?
Revenue is simply a scoreboard.
The larger mission is to build one of the most respected men’s personal care and grooming brands in the world while creating generational wealth and expanding what people believe Black-owned businesses can become.
I want Crowned Skin to become an institution, a brand that is still thriving decades from now because it consistently delivers exceptional products.
If we can inspire more founders to think globally from day one, that is a legacy worth building.
To learn more about Darrell Spencer and Crowned Skin, visit CrownedSkin.com.
Michael Strahan Is Building An Executive Legacy From The Turf To Boardroom
NFL Hall of Famer Michael Strahan shares strategies for achieving lasting growth and financial empowerment.
When NFL Hall of Famer and Emmy Award-winning co-anchor Michael Strahan retired from professional sports, he faced a challenge common to many Black athletes: transitioning from the field to the executive suite. Early in retirement, Strahan recalled sitting at home unsure of his next move, torn between returning to football or trying something new. A key moment came when he decided to step into broadcasting despite uncertainty and lack of experience. He turned down offers that did not match his long-term vision. In a conversation with his longtime business partner Constance Schwartz-Morini, co-founder and CEO of SMAC Entertainment, on Entrepreneur Playbook, Strahan discussed the mindset needed to transform athletic fame into a lasting business legacy.
Strahan’s journey is a model for ownership, career longevity, and financial empowerment. Since founding SMAC Entertainment in 2010, they have expanded into television production with shows like $100,000 Pyramid, consumer apparel through WEAR by Erin Andrews, and podcasting with “The Intersection.” This shows how equity and ownership can create generational stability.
Shared Values And A Hustle Mindset
A core principle of their 15-year partnership is valuing alignment over ego. Schwartz-Morini explained that successful business partnerships do not require close friendships but do require shared goals and work ethic. Strahan added that setting aside personal ego for common success helps achieve business objectives more effectively.
Managing career transitions requires tenacity and flexibility. Strahan acknowledged that leaving football was challenging because it was central to his identity and almost led him to return. Strahan and Schwartz-Morini addressed this by building a trusted team, leveraging Strahan’s visibility to open doors, and staying committed to authentic leadership despite resistance. He advises aspiring founders to identify secondary interests and learn from every experience.
Expanding The Vanguard Of Black Ownership
Strahan is among a growing group of Black sports figures taking control of their media networks and corporate assets. Earvin “Magic” Johnson led the way with Magic Johnson Enterprises, building a multi-industry empire that invested directly inside diverse communities. Similarly, NBA star LeBron James co-founded The SpringHill Company with Maverick Carter, creating an entertainment platform that empowers Black creators and shapes culturally relevant stories.
Strahan and Schwartz-Morini advise modern creators and executives to use the game, rather than be used by it. By maintaining creative control, diversifying revenue, and building tactical partnerships, African American entrepreneurs can transform short-term success into lasting financial empowerment.
Oprah Winfrey To Close South Africa Girls Academy, Expand Scholarships
Students who have not completed their education by the transition will attend other top-tier schools.
Oprah Winfrey will close the Oprah Winfrey Leadership Academy for Girls after the 2027 academic year, ending the residential school model she launched nearly two decades ago and replacing it with an expanded scholarship program expected to serve more young women across South Africa, People reports.
The academy will graduate its final two classes before the Gauteng provincial government assumes responsibility for operating the campus as a public school. Students who have not completed their education by the transition will attend other top-tier schools, with their tuition fully funded by Winfrey through graduation, a spokesperson for the media mogul said.
“The dream was never simply to build a school. It was to invest in the limitless potential of young women,” Winfrey said in a statement announcing the transition.
She added that while the academy’s current chapter is coming to a close, its mission will continue through a broader effort to expand access to education.
The scholarship program will begin after the academy’s current students graduate. According to Winfrey’s spokesperson, the new model is expected to provide educational opportunities for roughly twice as many girls as the academy currently serves.
Winfrey opened the academy in 2007 to provide educational opportunities for academically gifted girls from underserved communities across South Africa. Since then, more than 1,000 students have graduated from the institution.
The school faced widespread attention shortly after opening when a former staff member was accused of abusing students. The employee was later acquitted, and the academy continued serving young women while building a track record of academic achievement and leadership development.
Over the years, Winfrey has invested hundreds of millions of dollars in the school. According to a study cited by the academy, nearly all surveyed graduates went on to pursue higher education and said their education had a positive impact on their families and future careers.
Winfrey said the decision reflects a desire to expand the reach of her education initiative beyond a single campus and invest in even more students across the country.
“This school is my greatest legacy,” she told People magazine in 2019. “These girls are my deepest, greatest joy.”
Claressa Shields Chops It Up With Fans Ahead Of Historic ATL Fight
Undisputed heavyweight titleholder Claressa Shields popped into Atlanta’s Buckhead Fight Club
Undisputed heavyweight titleholder Claressa Shields popped into Atlanta’s Buckhead Fight Club July 29, to host an open-to-the-public meet and greet at which a line of fans wrapped around the boxing gym to see the champ and have memorabilia signed.
Shields took questions from fans and media, responding to inquiries about her journey. She shared how women can increase their equity in the sport boxing and her thoughts on navigating press.
Shields has long pushed for women’s pay parity as athletes. When asked about any structural changes that might still need to be addressed, Shields told BLACK ENTERPRISE, “I would say what needs to change for women to have equality in boxing that I’m fighting for.”
“I think that women need to take more advantage of their brand …. and know what their brand stands for,” Sheilds continued.
“I think that’s why I’m widely known because I know what my brand is and what it stands for and what I want to represent.”
Shields spoke to the assumption an attendee made, that she is underrated in the sport: “I don’t think I’m underestimated in boxing because I’m the best,” the Champ said.
“I think that people like to talk about things that’s not about boxing. I think that when it comes to my boxing, you can’t say anything bad about it.”
Shields added: “I’m undefeated, two Olympic gold medals, 19 world titles. I think people just like need to focus on the positive.”
The GWOAT also dropped gems for the youth:
“My advice to the younger generation coming up is do not change yourself to be accepted by folks who don’t like you. Do not change yourself.”
The meet and greet was a promotional prelude to Shields’ bout scheduled for Saturday, Aug. 15, live on DAZN from State Farm Arena. By bringing high-caliber athletic preparation directly to local supporters, Salita Promotions, Route 30 Promotions, and presenting sponsor Zeus Network aim to cultivate grassroots enthusiasm across the Southeast landscape. The fight night reflects a collaborative endeavor between those entities, Claressa Shields Promotions and Wynn Records.
Claressa Shields’ Return to Atlanta is Hella Historic
The upcoming card at State Farm Arena represents a monumental milestone in modern sports entertainment. Shields, the self-proclaimed “GWOAT,” is set to clash with unified WBC and WBA champion Kaye Scott in the first women’s headlining main event in the history of Atlanta’s State Farm Arena.
Shields, who holds the distinction of being an undisputed heavyweight champion, stands to join legendary hall-of-famer Roy Jones Jr. as one of the few fighters in the past 120 years to secure a world championship in a lighter division.
Simultaneously, the co-main event showcases rising 140-pound knockout artist Ernesto Mercado, who tests his undefeated record against formidable veteran Emmanuel Tagoe. Mercado enters the ring following a landmark multi-year partnership with Salita Promotions and Wynn Records, marking his debut on a global DAZN platform.
The undercard boasts Atlanta’s own Hakim Lopez, who trains and runs Granite City Boxing. Lopez goes up against Detroit’s Davelle Smith. The super middleweights will Duke it out eight rounds for the title.
Howard University Brings Back Almost Half The Students Dropped After Mass Enrollment Purge
The HBCU worked with families to reenroll incoming Freshman
Howard University has reinstated more than 200 of the 502 students who were unenrolled ahead of the fall semester after reviewing financial aid and enrollment records, Interim President Wayne A.I. Frederick said July 29, The Associated Press reports.
The historically Black university worked with students and families to resolve outstanding financial and administrative issues.
Frederick told the outlet that the affected students either still owed tuition after financial aid and scholarship awards were applied or had not submitted required immunization records. He said Howard followed its enrollment policies and had communicated payment deadlines to students and families beginning in March.
“There were no issues as far as what we communicated,” Frederick told the AP, adding that students were informed that unpaid tuition balances were due by mid-July before classes began in August.
The unenrollment prompted concern among prospective students and their families, many of whom turned to social media after learning they no longer had a place at the university just weeks before the start of the academic year. Some students and parents also said they struggled to reach university officials by phone or email to resolve questions about tuition, financial aid, and housing.
Frederick acknowledged the university received an overwhelming volume of calls after the unenrollment notices were issued, but said staff members responded to email inquiries and began meeting directly with students and families to review individual cases. Those conversations, along with updated financial aid documentation and other enrollment materials, resulted in students being reinstated.
Howard, one of the nation’s largest and most selective historically Black colleges and universities, received approximately 37,000 applications for the upcoming academic year. About 2,200 first-year students remained enrolled after last week’s unenrollment, according to Frederick.
University officials said they will continue reviewing remaining cases as students submit outstanding financial aid documentation, immunization records, and other required materials before classes begin in August, allowing additional students to regain their enrollment if they satisfy the university’s requirements.
Beyoncé Becomes Sole Owner Of SirDavis American Whisky
A spokesperson for SirDavis said the sale marks the beginning of the brand's next chapter.
Beyoncé Knowles-Carter has become the sole owner of SirDavis American Whisky after French luxury company Moët Hennessy sold its stake in the premium spirits brand, giving the entertainer and entrepreneur full control of the business she helped launch in 2024, The Daily Pour reports.
Financial terms of the transaction were not disclosed.
According to the outlet, a spokesperson for SirDavis said the sale marks the beginning of the brand’s next chapter after nearly four years of collaboration to create, develop, and launch the whisky.
“Knowles-Carter takes full ownership and control, making SirDavis a woman-, family- and Black-owned company,” the spokesperson said in a statement.
SirDavis debuted in 2024 through a partnership between Knowles-Carter and Moët Hennessy, the luxury wine and spirits division of LVMH. The brand is named in honor of Knowles-Carter’s paternal great-grandfather, Davis Hogue, who reportedly made moonshine during Prohibition.
The American whisky is distilled in Indiana from a mash bill of 51% rye and 49% malted barley before being blended, finished, and bottled in Texas. The brand launched nationally with a suggested retail price of $89 and has since expanded through limited-edition releases, retail activations, and marketing tied to Knowles-Carter’s “Cowboy Carter” era.
Neither Knowles-Carter nor Moët Hennessy has publicly commented on the reason for the ownership change.
The transaction follows broader restructuring efforts at Moët Hennessy, which has been streamlining operations as luxury beverage sales have slowed in several global markets. The company owns a portfolio of high-profile brands, including Hennessy cognac, Dom Pérignon, and Krug Champagne.
For Knowles-Carter, the acquisition adds another wholly owned company to a growing portfolio that spans entertainment, fashion, beauty, and consumer products. Full ownership also positions SirDavis to chart its next phase of growth under independent leadership, further expanding Black ownership in the premium spirits industry.
