Swizz Beatz and Timbaland want to set the record straight regarding the ownership of the Verzuz platform. According to the megaproducers, Verzuz is still 100% Black-owned.

There has been speculation around the future of Verzuz after Timbaland and Swizz allowed Triller to acquire the battle web series for an eight-figure sum in March 2021 via Hollywood Reporter. However, by August 2022, Tim and Swizz sued Triller for breach of contract claiming Triller failed to make a $28 million payment to acquire Verzuz.

Since the legal dispute, there haven’t been any major Verzuz battles released on the platform. The hiatus has made fans wonder if the Triller acquisition took away the culture created when Verzuz was born during the COVID-19 pandemic in 2020.

But Swizz Beatz and Timbaland hopped on Instagram Live over the weekend to update fans on the future of Verzuz and confirm their place as the sole owners of the platform.

“VERZUZ is still 100 percent Black-owned,” Swizz said, in a clip captured by Hip Hop DX.

He said, “50 percent on the top of your screen, and 50 percent on the bottom of your screen. In case you ain’t know. Word to Allah. OK?”

https://twitter.com/HipHopDX/status/1657800825526448128

“It was built for the people, and it will stay with the people. And we love everybody,” Swizz added.

However, their claims negate the 2021 acquisition of Verzuz that turned them into shareholders and members of the Triller team. At the time the deal was made, Triller’s parent company, Triller Network, acquired the VERZUZ platform and left Swizz and Timbaland with shares of the company, Variety reports.

The superproducers behind hits like “Promiscuous” and “On To The Next One” also went on to join Triller’s management team and reportedly allocated part of their equity stake to the 43 performers who had appeared on Verzuz.

The last Verzuz battle took place in June 2022 between singers Mario and Omarion. Fans have been anxiously awaiting the next big battle, which is said to be between Diddy and Jermaine Dupri this fall.

RELATED CONTENT: The Internet Believes Diddy And Jermaine Dupri Finally Have An Upcoming Verzuz Battle, But That May Not Be The Case

Wells Fargo & Co has agreed to pay $1 billion to settle a lawsuit accusing it of defrauding shareholders about its progress in recovering from a series of scandals over its treatment of customers.

A preliminary settlement of the proposed class action was filed late Monday night with the federal court in Manhattan, and requires a judge’s approval. The dollar amount was suggested by a mediator, court papers show.

Wells Fargo has operated since 2018 under consent orders from the Federal Reserve and two other financial regulators requiring that it improve governance and oversight.

The fourth-largest U.S. bank is also subject to an asset cap by the Fed, which can impede its ability to compete with larger rivals JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc.

Shareholders accused Wells Fargo of overstating how well it was complying with those orders, and said the bank’s market value fell by more than $54 billion over two years ending in March 2020 as the shortcomings became known.

The San Francisco-based bank denied wrongdoing, and settled to eliminate the burden and cost of litigation, court papers show.

“While we disagree with the allegations in this case, we are pleased to have resolved this matter,” Wells Fargo said in a statement on Tuesday.

Lawyers for the plaintiffs may seek up to 19% of the settlement fund for legal fees.

Wells Fargo has since 2016 paid or set aside several billion dollars to resolve regulatory probes and litigation over its business practices.

These practices included opening about 3.5 million accounts without customer permission, and charging hundreds of thousands of borrowers for auto insurance they did not need.

Chief Executive Charlie Scharf has said repairing the 171-year-old bank founded by Henry Wells and William Fargo has taken longer than he expected when he took over in 2019.

“When I arrived, we did not have the culture, effective processes, or appropriate management oversight in place to remediate weaknesses on a timely basis,” he said in his March 3 letter to shareholders. “Today, we approach these issues differently.”

The case is In re Wells Fargo & Co Securities Litigation, U.S. District Court, Southern District of New York, No. 20-04494.

(Reporting by Jonathan Stempel in New York; Editing by Simon Cameron-Moore)

Pastor, activist, and Greater Springfield, Massachusetts, NAACP President Bishop Talbert Swan is questioning a recent bill signed by Florida Gov. Ron DeSantis requiring Asian American and Pacific Islander history as part of Florida’s public education system.

“So they ban Black history, erroneously calling it ‘Critical Race Theory,’ but mandate Asian American and Pacific Islander history,” Talbert tweeted on May 12.

“What more proof do you need that this has always been about antiBlack racism?”

So they ban Black history, erroneously calling it ‘Critical Race Theory,’ but mandate Asian American and Pacific islander history.

What more proof do you need that this has always been about antiBlack racism?

https://t.co/gU38kwpVj4

— Bishop Talbert Swan (@TalbertSwan) May 12, 2023

According to The Independent Florida Alligator, DeSantis signed House Bill 1537 into law on May 9.

The mandatory additions to the K-12 curriculum include “The history of Asian Americans and Pacific Islanders, including the history of Japanese internment camps and the incarceration of Japanese-Americans during World War II; the immigration, citizenship, civil rights, identity, and culture of Asian Americans and Pacific Islanders; and the contributions of Asian Americans and Pacific Islanders to American society. Instructional materials shall include the contributions of Asian Americans and Pacific Islanders to American society.”

The initiative was spearheaded by activist and Make Us Visible Florida Director Mimi Chan. “It took a lot of work and determination in order to get this passed,” Chan said. “Asian American history is American history.”

“We are committed to working hand in hand with the Department of Education to ensure that this curriculum is well-rounded and accurately portrayed,” Chan added.

Florida is one of several states that banned public schools from teaching “Critical Race Theory.” Gov. DeSantis rejected the academic framework that focused on racism beyond the result of individual bias and prejudice.

The Florida Department of Education refused the College Board’s AP African American studies course earlier this year, describing it as “lacking in educational value” and deeming it contrary to Florida law. Presidents of Florida’s state college system previously confirmed they would not be providing funds for programs that bring attention to beliefs on Critical Race Theory.

The new law goes into effect on July 1.

• Business

by Jeroslyn JoVonn

May 16, 2023

Celebrity Hip-Hop Chef Shares 7 Things To Consider Before Opening A Restaurant

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Meet Bryant Williams, affectionately known as “Chef Baul,” a celebrity chef who overcame homelessness to become a millionaire restaurateur in just three years thanks to his wife, Daniella.

Completely self-taught, Chef Baul has over a decade of professional culinary experience. A private catering company specializing in on-demand Southern, Caribbean, and Asian cuisine that he launched in 2013 led him to cook for top entertainers such as Lil Baby, Kendrick Lamar, and Gucci Mane before traveling to over 20 countries as the personal chef for platinum-selling rap group Migos.

By 2019, Chef Baul was ready to open his first restaurant after receiving a deal of a lifetime. But, just as fast as the business deal came through, it failed, and soon Chef Baul found himself being cheated out of a restaurant deal meant to change his life. After losing his hope, his savings, and his confidence, Chef Baul fell into a deep depression which ultimately led him to homelessness.

It wasn’t until he met his girlfriend and now wife, Daniella “Ivy” Emillien, that his life changed, and he got back on his feet. Daniella, a former celebrity hairstylist and founder of the financial literacy program Ivy League Academy, was the hope that ignited Chef Baul to believe and dream again.

With the help of his wife, Chef Baul gained the confidence and the knowledge he needed to get back to doing what he does best, cooking delicious meals. On April 7, 2023, Chef Baul opened one of two new restaurant concepts, Binky’s Eatery, a luxury soul food takeout experience located in downtown Atlanta’s Historic Five Points Plaza; and an all-day brunch eatery called Betty Sue’s that will be opening in the very near future.

“Almost every day, we would cry tears of joy, and we catch ourselves just being so thankful because it’s everything we wanted.” Chef Baul told BLACK ENTERPRISE.

“And then we’re working on things within the business that can make it better. We’re re-defining it as each day goes by.”

Running a business isn’t easy, especially one in the restaurant industry. But Chef Baul and Daniella are taking it day by day as a team.

“From my perspective, as a chef and being in the food industry, it’s like you’ve got something that a lot of people don’t have when you have a wife who’s really there for you,” Chef Baul said.

“It’s a great feeling,” Daniella adds. “Because I always wanted to be married to a chef and I feel like even though I’m not a chef, I’m learning something new. It’s just adventurous, like a kid at Disney World.”

Through hard work, dedication, prayer, and continued faith, the power couple secured a zero-dollar down payment and a two-year rent-free contract for both locations! Now, they’re passionate about helping other aspiring restaurateurs do the same.

Speaking exclusively with BLACK ENTERPRISE, Chef Baul and Daniella shared 7 things to consider before opening a restaurant.

1. Chef Baul: You need to be passionate about some type of food as you serve it. Somebody needs to be passionate about it because that passion and drive in the direction of light to the right people is going to have love behind it.
2. Daniella: You need a team because you can’t do it by yourself. You need to have your team, your tribe, put in place that’s going to be there to support you through it.
3. Daniella: A great concept– you need to have a brand to match that concept.
4. Daniella: Funding, make sure that your personal credit and your business credit are intact because things can get very expensive.
5. Chef Baul: Consistent Menu: Make sure your menu is consistent, as customers like a menu that is consistent and readily available every day.
6. Chef Baul: Licensing, make sure your licensing is in order; that is key.
7. Chef Baul: Make sure you do it with God; ask him to lead you.

RELATED CONTENT: Here’s 5 Things You Should Know Top Chef Alum Kwame Onwuachi

• News

by BLACK ENTERPRISE Editors

May 16, 2023

National Urban League and Experian Launch B.A.L.L. for Life Financial Literacy Initiative

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A high dollar contract isn’t a slam dunk to a rich life. More than 60% of professional athletes end up broke within five years of their retirement. Financial and credit education, and equitable access to financial tools are the drivers behind the new B.A.L.L. for Life program, a partnership with the National Urban League and Experian, the leading global information services company.

B.A.L.L. for Life (Be A Legacy Leader) was announced at the recent Iverson Roundball Classic, for which Experian returns as the exclusive financial literacy partner. The program serves as a catalyst for engaging with Black communities and low-income youth through live events and digital financial education. Subject matter experts, former sports professionals, celebrities and influencers share their experiences and expertise covering topics such as banking, credit, financial management and investing.

“It’s past time to retire the narrative of the pro athlete who wins the contract and loses the fortune, and it starts with empowering our young people and the broader community with financial tools to build and maintain wealth. The committed involvement of many of today’s most successful and influential athletes makes the B.A.L.L. for Life initiative a potential game changer. The National Urban League is grateful to Experian for its innovative partnership in creating equitable access to financial education,” Marc H. Morial, president and CEO of the National Urban League.

“These young guys are the future. They say it’s an honor being selected to the Iverson Classic. But it’s still an honor to me that they choose to be part of my game. We are part of each other’s legacies now. Thank you, Experian and the National Urban League for helping us do something so incredible for them,” said Allen Iverson, NBA Hall of Famer.

In addition to a B.A.L.L. for Life portal, a gamified app enables users to learn about credit and financial tools by shooting hoops using gesture controls and have a chance to earn a virtual jersey. Experian research shows 28% of Black consumers and 26% of Hispanic consumers are invisible to the credit market, compared to 16% of Asian and White consumers.

“We’re excited to join forces with the National Urban League in creating this new program. In the game of life, we can set-up young adults for long term financial success by exposing them early to financial literacy. Modernizing and normalizing conversations about banking, credit and investing through the B.A.L.L. for Life initiative will empower them and their families to build generational wealth and a secure future,” said Wil Lewis, Experian’s global chief diversity, equity, inclusion and talent acquisition officer.

B.A.L.L. for Life is an expansion of Experian’s partnership with the National Urban League and a continuation of its popular Building Wealth in the Black Community Initiative. Previously, Experian’s United for Financial Health Home Preservation Grant helped consumers at risk of losing their homes because of a COVID-19-related hardship through local National Urban League chapters.

This news first appeared on businesswire.com.

Nick Cannon has made a mistake that would most likely make someone frown upon his actions.

On Mother’s Day, Cannon admitted to Wild ‘n Out as he accidentally sent the wrong “baby mama” a handwritten greeting card that was meant for another one of his children’s mother.

Cannon discussed the misstep on his AMP daily morning show, The Daily Cannon, with his co-hosts, Courtney Bee Bledsoe, Mason Moussette, and Abby De La Rosa. De La Rosa is actually the mother of three of his children, Zion, Zillion, and Beautiful.

He said he sent “handwritten messages from the heart” to each of the mothers of his children, but inadvertently sent a message meant for one that landed in the hands of another.

“I tried my best. I really did. I thought it would be a really really good idea to show people how you really feel, write it down,” Cannon said.

“So, then as I’m writing a handwritten message, I get the cards mixed up.”

As his co-hosts reacted, he paused to let it all sink in.

“And then so when one baby mama reads the card about how I feel about the other baby mama. See if I would have just got some generic s**t , that everybody else got, that wouldn’t have happened.”

From the reaction of De La Rosa, she wasn’t involved in the mix-up as she looked as surprised as Bledsoe and Mousette.

 

View this post on Instagram

 

A post shared by NICK CANNON (@nickcannon)

Several weeks ago before the premiere of The Daily Cannon, the entertainer spoke to BLACK ENTERPRISE about his excitement about launching the show on the Amazon app, AMP.

“AMP is the new wave! I mean, I’m always somebody who’s trying to, you know, be innovative and do something that no one has ever done. And I’m paying attention to what the young people and the next generation are tapped into. And this AMP thing is blowing up like I’ve never seen before.”

The multi-talented businessman has joined recording artists Nicki Minaj, Big Boi (Outkast), podcaster Joe Budden, and NBA champion Draymond Green on the latest social media platform.

The CEO of Tarte Cosmetics is apologizing and promising to do better after one Black influencer called the company out for treating her like a “second-tier” creator.

The apology came one week after influencer Bria Jones shared a since-deleted TikTok explaining why she was backing out of Tarte’s promotional trip to the Grand Prix in Miami after noticing how differently she was treated compared to other influencers, NBC News reported.

“I would love to go on a Tarte trip and trust me, I’m so grateful,” Jones said in the video.

“But I have more integrity than to get all the way to Miami and realize I’m being treated like a second-tier person.”

Jones took notice of her return flight being booked on May 6, despite the race taking place May 7. Her other influencer friends invited on the trip all had return flights for May 8.

“I’ve worked too hard to get to where I am today and I will be damned as a Black creator if I accept anything other than equal treatment on these trips,” she added.

@popnewstiktok JUSTICE FOR BRIA JONES!!!!! #tarte #tartecosmetics #briajones #popnewstiktok #trippinwithtarte #tartedrama #maureenkelly #racisim #haterswillbeblocked #fyp #blackcreator #fentybeauty ♬ original sound – popnewstiktok

It didn’t take too long for Jones’ video to make its rounds across social media and ignite a backlash against the Tarte beauty brand. As a result, Tarte CEO Maureen Kelly posted a TikTok last week apologizing and pledging for a more inclusive creator program.

“As the founder and CEO of Tarte, I acknowledge that we have fallen short in matters of diversity, inclusion and equity in the past,” Kelly said in the since-deleted video.

“We’re also going to be more transparent about how we work with our creators, including how we choose them. I think that’s not only going to just help the creators but trust amongst, like, the industry as a whole.”

@toris.intel #duet with @Maureen Kelly Tarte CEO 2nd apology #tarte #tartecosmetics #publicrelations #tartegate ♬ original sound – Maureen Kelly

The beauty mogul also says she is in the process of hiring a diversity, equity and inclusion specialist, establishing a creator advisory group, and updating company guidelines to ensure equity among its creators.

Meanwhile, Jones returned to TikTok after deleting her initial video saying the incident was a result of “miscommunication on both ends.”

@heybriajones I’m reactivating my account for 24 hours in hopes that this message gets across. Please leave @ANELLE @Fannita @Niké ♬ original sound – Bria Jones

In 2018, Tarte faced backlash for the lack of diversity in shades in its Tarte Tape Shape Foundation. Beauty influencers Alissa Ashley and Jackie Aina took to YouTube at the time to call the brand out.

“y’all are being very picky choosy with this black solidarity sh*t because black creators (Jackie Aina) started calling out tarte YEARS ago yet Bria still considered going on that trip until they were being weird TO HER,” one Twitter user wrote while resurfacing the old review

“There’s no black solidarity there to begin w/ be serious.”

https://twitter.com/honeysucckle/status/1655298369995313152?s=20

The world of influence is not the easiest to conquer but when you have Vice President Kamala Harris step into your space, you’re doing something right.

Popular TikTok influencer Lynae Vanee met with Harris to talk about gun violence and the executive orders put in place to conquer it. Taking a break from her parking lot backdrop, Vanee and Harris appeared in an undisclosed location to break down what’s happening in the streets of the Black community.

@lynaevaneeI’m not sure if you guys know this, but right now, the National Association for Gun Rights is pushing for the legalization of assault weapons and high -capacity magazines. This Supreme Court Case National Association for Gun Rights v. City of Naperville would mean the legalization of these weapons in all 50 states. So when I had the opportunity to choose a topic to discuss with the @vp it had to be this one. You’ve heard me say many times on this show, no matter what we HAVE to keep voting. We are tired, yes, but if we do not keep raising our voices and showing up, the opposition will not stop. The Atlanta shooting and this case are just reminders that people are not a priority right now. We’ve done episode, after episode, after episode, about gun violence and loss and tragedy. It is clear the vast majority of Americans do not want these weapons out on the streets or in anybody’s stockpiles at home. So we have to press our legislators on both sides of the aisle to speak up.♬ original sound – Lynae Vanee

In the almost 5-minute video, the duo began covering a recent shooting in Atlanta, just two blocks from Vanee’s home, where Deion Patterson allegedly opened fire with a semi-automatic handgun at a medical facility shooting five women. Patterson was on the run for eight hours, before his arrest, NBC News reported.

While sipping her tea, Vanee highlights a pattern and queries Harris for answers:

“It seems like more and more communities are going to be touched by gun violence for the call to action to be loud enough for some type of meaningful legislation to happen,” Vanee said. “Why doesn’t there seem to be any talk of an executive order?”

Vice President Harris jumped in to inform Vanee—and almost 500,000 followers—about the work being done at the executive level. President Biden signed an executive order in March to potentially boost the number of background checks before the purchase of a gun. The numbers of mass shootings continue to rise—more than 100 this year— as well as the number of homicides in the Black community.

“While all this violence impacts communities in devastating ways, we know it does not do so equally,” Harris said. “Black people are only 13% of America’s population but more than 60% of homicide victims.”

Giffords Law Center To Prevent Gun Violence reported that more than 12,400 Black people die from gun violence each year on average.

Throughout some of the country’s largest counties, Black men, ages 18 to 25, are killed due to gun violence close to 19 times more than white residents. Those eye-opening statistics trickle down to young Black kids and women too. Almost 75% of gun deaths among Black children are from guns. Homicide rates from guns went up 78% from 2019 to 2021—the largest increase among women for any other race.

While voters wait for Congress to make a move on this critical issue, the CDC recommends programs, policies and practices to reduce gun violence.

RELATED CONTENT: Vice President Kamala Harris To Join The Jennifer Hudson Show for Exclusive Daytime Talk Show Interview

Florida Governor Ron DeSantis signed a bill on Monday banning tax dollars from being used in state colleges for diversity, equity and inclusion programs (DEI) in a sweeping measure that also places restrictions on classroom discussion of race.

While DEI programs are meant to assist in building racial, social and religious diversity among university faculty and students, the governor and other conservative critics have said they promote left-wing politics and sow racial divisions on campuses.

“DEI is better viewed as standing for discrimination, exclusion and indoctrination,” DeSantis said at the bill signing on the campus of New College of Florida, a public liberal arts college, on Monday. “And that has no place in our public institutions.”

The new law largely reflects a legislative program announced by DeSantis in January and represents another front in the Republican war against an agenda many conservatives believe those on the left are trying to push on U.S. public education.

DeSantis, who is expected to launch a presidential bid next month, has positioned himself as a leader in that fight.

The legislation restricts how gender and race are taught on campuses, requiring such lessons to be reviewed by the university trustees to prevent programs that “distort significant historical events” or teach “identity politics,” the governor said.

Opponents of the legislation include many higher education experts and free speech advocates, who have characterized the efforts as an attack on academic freedom.

On the campus of New College of Florida in Sarasota, a traditionally liberal-leaning university where the governor has recently appointed a conservative-leaning board of trustees, the bill signing was greeted with loud chants from student protesters.

DeSantis said students who want to study diversity subjects should look at universities outside the state. “Florida’s getting out of that game,” he said.

Related: FLORIDA TAKES ANTI-WOKE MOVEMENT TO ANOTHER LEVEL BY REMOVING BLM MOVEMENT AND GEORGE FLOYD FROM TEXTBOOKS