Rapper J. Cole is now a minority owner in the Charlotte Hornets after Michael Jordan sold his majority stake to a buyer group.

On June 16, 2023, J. Cole became a part of the buyer group led by Gabe Plotkin and Rick Schnall, according to NBA.com, which also includes Chris Shumway, Dan Sundheim, and Ian Loring. 

As of 2023, according to Sportskeeda, the rapper has an estimated net worth of $60 million. In 2007, J. Cole founded Dreamville Records, and according to Dreamville’s website, the label keeps “a pulse on [its] community while exploring new sounds, new visuals, and new ways to authentically and genuinely connect with all people around the world.” 

ABC 11 reported that in 2022, Dreamville’s festival raked in $6.7 million in revenue. 

However, J. Cole’s fortune is not solely from recorded music. In October 2020, Variety reported Dreamville formed Dreamville Ventures and Dreamville Studios, serving as subsidiaries of Dreamville. According to the outlet Dreamville Ventures is a multi-disciplinary media company, and Dreamville Studios is a content studio.

At the time, J. Cole said, “Dreamville has always been a mom-and-pop operation with grand ambitions and ideas that extend far beyond music.”

Michael Jordan, chairman of Hornets Sports & Entertainment (HSE) will keep minority ownership of the Hornets, according to NBA.com, once the NBA’s Board of Governors finalizes the sale. The NBA legend purchased the team in 2010 for $275 million, when the team was known as the Bobcats, according to the Associated Press.

“In the same way that it’s wonderful that one of our greatest, Michael Jordan, could become the principal governor of a team, he has the absolute right to sell at the same time,” NBA Commissioner Adam Silver said. “Values have gone up a lot since he bought that team, so that is his decision.”

According to the AP, the Charlotte Hornets now has no Black majority ownership.

Former The Daily Show host Trevor Noah is set to invade the podcast world.

Noah, who left Comedy Central in 2022 after hosting The Daily Show with Trevor Noah for seven years, “let the cat out of the bag” on his Instagram account on June 20, 2023 that he is joining Spotify to host his own podcast.

 

View this post on Instagram

 

A post shared by Trevor Noah (@trevornoah)

“It’s really exciting to be joining Spotify on a fun new adventure where we’ll engage in interesting and meaningful conversations with some of the world’s most fascinating people,” says Noah in a written statement. “We’ll also probably fix every single issue humankind has ever faced, so you definitely want to join us for every episode.”

Spotify saids the weekly show that will debut later in 2023. Although no release date was mentioned, the streaming platform promised Noah’s “signature humor and razor-sharp wit” will be displayed. 

Since the deal is not exclusive to the streaming platform, the podcast will also be seen and heard on other platforms. 

“Spotify is the ultimate audio destination, and partnering with Trevor Noah, one of the world’s most brilliant and distinctive voices, will make for captivating storytelling that will delight our more than 100 million podcast listeners around the world,” says Julie McNamara, Spotify vice president, head of global podcast studios. “We are excited to collaborate with Trevor to create an original podcast that seamlessly combines his unique humor, insightful commentary, and consummate interview skills on a global scale.”

Noah told Variety that doing a podcast allows him to do more as he is not as restricted in format and time as he was on television. He also mentioned that he can do his show “anywhere in the world.”

In 2022, when Noah decided to leave Comedy Central after seven years, he said he wanted to dedicate more time to stand-up comedy.

A Memphis non-profit that booked Saucy Santana for an LGBTQ Pride event is calling out the rapper for allegedly scamming them out of thousands.

The Memphis-based non-profit One Memphis One Vision took to Instagram over the week to put Santana on blast after booking the rapper for a show he never showed up to. According to a series of scathing posts captured by The Neighborhood Talk, Santana was booked for a Juneteenth Pride event scheduled on June 18.

The non-profit agreed to pay the “Material Gworl” rapper a total of $25k to host the event and perform two songs. The contract also states that if Santana failed to show up to the event, “100% of the show money is guaranteed back to the Purchaser.”

However, Santana never showed up after missing his flight, and instead of returning the funds already given to him, Santana’s team reportedly demanded the non-profit “find him another place to perform” and pay him the backend of $10k that he was owed.”

 

View this post on Instagram

 

A post shared by The Neighborhood Talk (@theneighborhoodtalk)

It’s also worth noting that Santana only missed his flight because he reportedly “forgot his wallet.”

The non-profit also took issue with Santana staying inside his hotel room and leaving his team to rectify his late appearance at the event that had already ended.

“OMOV says he told Santana’s team that they needed to at least pay them back $5k to cover the money that was spent that day: $2k in travel fees and $2k for Santana’s rider, which included tequila bottles and Popeyes chicken,” THNT reports.

Santana’s team reportedly denied returning the funds and OMOV says it would take the loss but the funds paid to Santana came from the city of Memphis and is taxpayer funded.  Now the non-profit is demanding a public apology from Santana as well as a payment plan to receive the $25k owed to them— $15k for the initial booking and $10k for the other expenses.

• News

by Iman Milner

June 21, 2023

Chicago Officials To Dedicate $6.8M To Build Monuments, Including One To Honor Police Torture Victims

---

Newly elected Chicago Mayor Brandon Johnson plans to use a $6.8 million grant from the Mellon Foundation to build eight new monuments, including one intended to honor the more than 100 Black men who were tortured by Chicago police officers.

The city agreed to build a memorial to the victims of brutal attacks orchestrated by disgraced chief of police Jon Burge and many officers who trained under him in 2015.

The monument is part of a broader package of “reparations” that includes payouts totaling $5.5 million to over 118 people, mostly innocent, who were beaten, electrocuted, or suffocated with plastic bags. The city also made a commitment to include this dark piece of the Chicago Police Department’s history in the curriculum for 8th through 10th graders, according to WTTW News.

Johnson believesthe monument, aptly named The Chicago Torture Justice Memorial, will act as a reminder of the “tremendous harm” done not just not to “a generation but generations of people” by the “brutality of police” and help heal the wounds many city residents carry from the attacks.

“It is important that we capture that history in a physical way,” Johnson said. “The impact that it is going to have—it is not only educating a generation of how these systems fail and harm people, but we also have the ability to tell our stories with our art. See, when oppressors look to dominate people, they go after their history, their art and their culture. We’re not going to do that in Chicago.”

The other planned monuments include an honor for Mahalia Jackson, a commemoration of the Chicago Race Riots of 1919, a memorial for missing and murdered Black girls as well as a series of monuments that explore the settling of Chicago by Jean Baptiste Pointe Du Sable and the Native Americans who welcomed him to their land, according to ABC 7 Chicago.

John Amos’ “Good Times” co-star BernNadette Stanis is speaking out amid the “tug of war” between Amos’ two children, with one being blamed for elder abuse.

Stanis is hoping to see the Amos family come to a resolution following Shannon Amos’ claims of elder abuse in a June 8 Instagram post, and a more recent video post showing John Amos accusing his daughter of elder abuse.

“It just happened so that when you have a parent that you have to take care of or they’re aging, there’s a lot of fear amongst the siblings because you don’t know — it’s the first time and maybe the only parent. It hurts,” Stanis told People.

Her statements come after John Amos was most recently seen speaking on the phone from a hospital bed alongside his son K.C., where he accused his daughter Shannon of elder abuse.

“She would be the primary suspect — if you would,” John claimed in the video clip K.C. shared online.

“I don’t know if that’s the right term to use or not. But she’s the one that I would attribute my elderly abuse to. It’s definitely a case of elderly abuse.”

 

View this post on Instagram

 

A post shared by K.C. Amos (@k.c.amos)

The video came a few weeks after Shannon asked for donations for her father’s care after he was allegedly a victim of “elder abuse and financial exploitation.”

“We are collaborating with the Colorado Bureau of Investigations and local authorities, determined to bring the perpetrators to justice,” she wrote in her post.

 

View this post on Instagram

 

A post shared by S H A N N O N A M O S (@officialshannonamos)

But now, John is accusing his daughter of elder abuse and financial exploitation and wants every donation returned to the donors.

“To all of my fans, I want to share this video with you to show you that I am not in the distressed condition as described in the GoFundMe page,” John told People. “As a matter of fact, I am doing well.”

“Nor was I ever fighting for my life,” he said.

“First, I want the GoFundMe campaign about me to stop immediately and the funds subsequently returned to those who made donations,” he added. “My son and I will reveal more information at the appropriate time.”

Stanis is crediting the different stories among the family as a “tug of war” between siblings.

“I don’t understand the Shannon thing or what’s going on with it, but she’s the oldest and sometimes the oldest feels like they should be in control,” Stanis said. “But K.C. is the boy, so it could be a tug of war, a little bit like that.”

According to John, he was in the hospital due to water retention and is in no dire need of financial assistance for his care.

• News

by Iman Milner

June 21, 2023

‘Pay Us!’: Rep. Cori Bush Makes A $97 Trillion Case For Reparations

---

Democratic Rep. Cori Bush of Missouri took time to commemorate Juneteenth by strengthening the case for reparations for descendants of enslaved Black people. A $97 trillion case, to be exact.

Bush introduced legislation in May, “The Reparations Now Resolution,” a 23-page document calling on the United States to address the “enslavement of Africans and its lasting harm” on millions of Black Americans, according to CBS News.

Using the holiday as a platform to draw attention to the sobering experience of being Black in this country and the stain left behind by slavery, Bush’s efforts—as well as those of lawmakers in  Evanston, Boston, and San Francisco—are crucial first steps in closing the wealth gap that exists between white and Black families in America.

According to the Harvard Gazette, the average Black family’s wealth in the United States is only one-tenth of the average White family’s. It’s a difference that can be directly attributed to slavery.

Though the initial ask from Bush’s resolution was a $14 trillion payout to descendants of those who endured chattel slavery, the St. Louis native cited findings from scholars who estimate that the U.S. benefitted from over 222 million hours of free labor between 1619 and 1865; totaling over $97 trillion in value today.

For Bush, the only equitable way forward for the country must include reparations, according to MSNBC. “America must provide reparations if we desire a prosperous future for all,” she said. “This country thrived and grew through the planting and harvesting of tobacco, sugar, rice and cotton, all from chattel slavery, and that hasn’t been compensated.”

It is not clear what the ultimate plan for “The Reparations Now Resolution” will mean for Black Americans, as it does not explicitly ask for direct payments to be made out to individuals. However, there is clear language about the need to address growing wealth disparities.

• Lifestyle

by Jeffrey McKinney

June 21, 2023

Study: Black Millennials Face Challenges Getting To The Bag

---

Considerably more debt, dwindling savings, lower incomes, and higher housing costs are among the big factors why Black millennials struggle harder to build wealth than their contemporaries, according to a new study.

Those Black Americans largely are facing a more challenging financial future even though there are some cases where they are faring better or at the same level as other millennials.

However, the alarming news is young African Americans have over $11,000 more in non-mortgage debt —an average of $101,809 vs. $90,590–than millennials overall. Student debt accounts for the largest portion of that tab, with those Blacks owing an average balance of  $61,724 versus $56,538 for all non Blacks. Thirty five percent of Black young people declare their debt puts them at risk of bankruptcy.

Further, the average African American millennial has a salary of $67,802 and $42,026 in savings. That is lower than $74,106 and $42,948, respectively, in those areas for the average non-Black millennial. As such, 60% of Blacks tussle to afford their bills versus 56% of all millennials. Some 53% of AA millennials have been denied a loan at some point due to their finances versus 49% of white millennials.

Matt Brannon, author of a new study on millennial debt, said,  “The combination of making less money, owing more in debt, and having to pay higher housing costs is a recipe for financial hardship over the next few years, especially if President Biden’s student loan forgiveness plan ends up not materializing.”

Moreover, a large disparity between Black and white millennials is tied to housing. For example, 41% of those Blacks have missed a housing payment (rent or mortgage) at some time as opposed to 34% of white millennials and 38% for millennials overall.

The information is based on figures from this study in which 1,000 millennials were questioned in the survey in late April paid for by Real Estate Witch. Blacks made up 14.6% of those quizzed.

Brannon provided some commentary tied to Black young people making less income and owing more in debt than the average millennial: “That means it will likely take them a few more years than their peers to become debt-free, which is the biggest financial goal for 70% of Black millennials.”

He added another factor hindering Blacks from building wealth historically has been a low rate of homeownership.

“If your parents were homeowners, they have an extremely valuable asset to pass down. But discriminatory policies in the past limited older Black Americans’ ability to buy a home, which means their children missed out on the head start that other children received,” he said.

To boot, Brannon says because Black millennials are more likely to live in cities, higher rents and mortgage payments disproportionately impact them compared to white millennials. “That would explain why Black millennials are more likely than average to say they struggle to afford housing.”

Still, the findings did offer some hope. Some 19% of Black young people aren’t in any non-mortgage debt versus 10% of millennials overall. The 50% of Black millennials in credit card debt is smaller than the 57% of White and millennials entirely.

“Those are encouraging signs for Black millennials because it’s evidence that they are on the way to closing the wealth gap between Black and White Americans,” Brannon said.

• News

by BLACK ENTERPRISE Editors

June 21, 2023

Black Is Beautiful Volume 2 Launches Globally To Support The National Black Brewers Association

---

Black is Beautiful, an influential initiative launched by Weathered Souls Brewing CO in 2020 in support of equality and social justice reform, is making a resounding comeback. This time, the movement stands firmly alongside the National Black Brewers Association, with 100% of the proceeds supporting the newly launched organization in its efforts to foster inclusivity and black representation in the brewing industry.

With its roots firmly planted in raising awareness about the daily injustices endured by people of color, Black is Beautiful garnered remarkable global momentum in 2020. Uniting 1601+ breweries across all 50 states in the United States and 21 countries worldwide and raising over 5 million in funds to support local charities. Brewers participate by promoting sales of the open source “Black is Beautiful” stout and adding their own creative spin on its evolving recipe.

“Black is Beautiful Volume 2 embodies the spirit of solidarity, empowering the brewing community to embrace diversity and equality” said Marcus Bakersville co-founder and head brewer at Weathered Souls Brewing. “Our alliance with the National Black Brewers Association, will continue to pave the way for a more inclusive beer industry.”

This initiative comes on the heels of the National Black Brewers Associations launch in May, the first of its kind non-profit will direct Black is Beautiful proceeds towards impactful efforts that align with its mission to create a more equitable and diverse beer industry through education, policy, and community.

About Weathered Souls Brewing:

Weathered Souls Brewing Company is a renowned James Beard nominated craft brewery based in San Antonio, Texas. Founded by Marcus Baskerville and Mike Holt in 2016, the brewery has gained widespread recognition for its exceptional beer offerings, community engagement, and commitment to social justice. Visit our website at: https://weatheredsouls.beer/

About National Black Brewers Association:

Less than 1% of craft breweries in the U.S. are owned by African Americans and there is no single entity to help African American brewers and brewery owners with their specific needs and issues.
Given these challenges, the National Black Brewers Association (“NB2A”) was formed as a 501c6 membership-based non-profit organization to:

• Promote the Black brewing community as a first-of-its kind organization.
• Increase the number of African Americans in the brewing industry at all levels of production, especially ownership and brew master.
• Exercise political influence by developing and advocating for effective policy; and
• Foster understanding about the history and legacy of African American brewing in the United States.

The NB2A is governed by a dynamic Board of Directors composed of the most experienced and successful Black brewery owners and brew masters across the country. For more information on the National Black Brewers Association, visit our website at: www.nationalblackbrewersassociation.org.

This news first appeared on prnewswire.com.

A recent survey conducted by Capital One’s Mind Over Money found that 77% of Americans are anxious about their financial situation. The money anxieties were related to managing debt levels, keeping abreast with the cost of living, and not having enough money for retirement. Hailed as the No-fluff Guide to Complete Financial Management, #MoneyChat is a comprehensive resource designed to help readers break the cycle of debt, fear, and limitation regardless of their income.

Drawing from her years of financial expertise, client case studies, and her own experiences, Kelly approaches tough conversations on money using easy-to-understand financial terminology – laced with a dose of humor. Readers will be empowered with simple strategies to eliminate student loans, increase their credit score, map out a realistic budget, and more to fuel their journey to financial freedom.

But that’s not all. Far from the average personal finance book, #MoneyChat includes information and strategies on everything from how to get out of debt to navigating gambling issues. To reinforce the lessons taught in the book, Kelly includes easy assignments and a money mantra at the end of each chapter.

Kelly shares her journey and motivation for writing the book: “There was a time when I would tearfully pray for a miracle in my money.” She continues, “I didn’t grow up learning about money, except about being broke. So, once I mastered the art of money management, I wanted to create a resource that would simplify financial terminologies for people who haven’t had anybody talk about money and equip them with the tactics to tackle their money problems.”

#MoneyChat launched on April 18th during financial literacy month. Everyone who orders the book will be rewarded with exciting bonuses such as credit hacks to improve their credit score in 30 days, a #MoneyChat Book Club guide featuring video snippets on each chapter, #Money Mantras to transform money mindsets, and more.

#MoneyChat is available in paperback, hardcover, eBook, and audiobook formats. For further information or to order the book, visit MoneyChatBook.com

For bulk order inquiries, please see contact information.

This news first appeared on blacknews.com

Rep. Lisa Blunt Rochester (D-DE) is running for the Senate, potentially becoming the third Black woman to serve in the Chamber.

Rochester made the announcement Wednesday morning on Twitter with a video of her at the Bright Hope Baptist Church in Philadelphia, where she lived until her family moved to Delaware when she was seven.

I’m running to represent Delaware in the United States Senate.

I’m filled with Bright Hope for our future. But a more perfect union isn’t a destination. It’s a journey. Let’s go on it together.

Join me ➡️ https://t.co/tymKWayXko https://t.co/VeXvchGV0v

— Lisa Blunt Rochester (@LisaBRochester) June 21, 2023

“It’s been the greatest honor of my life to represent Delaware,” Rochester said in her announcement video. “To represent our seniors, our environment, our small businesses, and women’s reproductive rights, but we’ve got so much more to do.”

Blunt Rochester, 61, who joined the House in 2017 and was the first woman and person of color to represent Delaware in Congress, is running to succeed Sen. Tom Carper, who said in May he would retire after four terms in the Senate.

Carper endorsed Blunt Rochester during his retirement announcement. Senate Majority Leader Chuck Schumer told Politico in May he believed the congresswoman would make a good senator.

In the video, Blunt Rochester also talked about her late husband, Charles Rochester, who died in 2014.

“It literally took 30 years before I even ran for Congress. And I did that after the unexpected death of my husband,” Blunt Rochester said. “And I ran even though I had never run for anything, as a widow, over 50, Black, woman, and we made history.”

Despite Delaware, the home state of President Joe Biden, being a Democratic stronghold, Blunt Rochester said she plans to campaign aggressively. According to Politico, left-wing strategists and elected officials don’t necessarily consider her one of their own, but are comfortable with Blunt Rochester, who they believe is far more liberal than Carper and a member of the Congressional Progressive Caucus

The University of Delaware alumna is one of several Black women who are eyeing Senate seats in next year’s election.