• Money

by Sidnee Michelle

August 20, 2026

New Bill Could Unlock $35K For 1st-Time Homebuyers

Sens. Jon Husted, R-Ohio, and Michael Bennet, D-Colo., introduced the First-Time Homebuyer Empowerment Act on Aug. 4.

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A bipartisan bill in Congress could give first-time homebuyers another way to overcome one of the biggest obstacles to homeownership: saving enough money for a down payment, Fast Company reports.

Sens. Jon Husted, R-Ohio, and Michael Bennet, D-Colo., introduced the First-Time Homebuyer Empowerment Act on Aug. 4. The legislation would allow people to transfer up to $35,000 in unused savings from a 529 education savings account to help purchase their first home without paying a penalty.

529 plans are state-administered, tax-advantaged accounts designed to help families save for education expenses. Unused funds can generally be put toward other eligible education costs, student loan payments, or, under certain requirements, transferred to a retirement account.

The proposed legislation would add a first-home purchase as another eligible use, potentially giving families greater flexibility with money remaining after education expenses are covered.

“Across Colorado, too many young people and working families struggle to afford their first home,” Bennet said. “This bill would allow first-time homebuyers to use the savings they already have to cover a down payment and help put homeownership within reach.”

The proposal comes as high housing costs continue to make homeownership difficult for many Americans. As the outlet reported, existing federal rules already allow first-time homebuyers to withdraw up to $10,000 from an individual retirement account without the typical early-withdrawal penalty for a qualifying home purchase. The proposed 529 provision would raise the potential pool of available funds to $35,000 without requiring buyers to tap retirement savings.

“I’m focused on helping working families get ahead and making life more affordable,” Husted said. “By freeing up existing resources, I’m proud this bipartisan bill gives first-time homebuyers another tool to use in pursuing their version of the American Dream.”

The Senate legislation has a bipartisan companion bill in the House. Reps. Tom Barrett, R-Mich.; Tracey Mann, R-Kan.; Mark Alford, R-Mo.; and Lou Correa, D-Calif., introduced the House version.

The proposal would still need congressional approval before the new 529 provision could take effect.

RELATED CONTENT: Mortgage Rates Drop To Lowest In A Month As Refinancing Demand Climbs

• Education

by Sidnee Michelle

August 19, 2026

Georgia Gov. Brian Kemp Suspends Entire School Board Amid $20M Deficit

The district's financial crisis prompted the state to provide emergency payroll assistance.

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Georgia Gov. Brian Kemp has suspended all seven members of the Dublin City Schools Board of Education as the district works to recover from a roughly $20 million deficit that prompted state financial assistance and put its accreditation at risk, WSB-TV reports.

Kemp signed an executive order Aug. 17, suspending the entire board after the Georgia Board of Education unanimously recommended the action, according to the outlet.

The state board voted 10-0 last week to recommend suspending all seven members with pay following a hearing over the district’s financial problems. The decision placed the final determination in Kemp’s hands.

The district’s financial crisis prompted the state to provide emergency payroll assistance. Dublin City Schools has since taken steps to reduce expenses, including eliminating dozens of staff positions and shortening its school calendar.

State officials had previously attempted to hold a hearing on the board’s future in June, but no decision was reached. The matter returned to the Georgia Board of Education on Aug.12, when state officials and representatives of Dublin City Schools presented their cases before the board voted on the suspensions.

Kemp’s executive order also establishes a committee that will appoint temporary replacements to the Dublin City Schools Board of Education.

Georgia Board of Education member Matt Donaldson will chair the committee. State Rep. Matt Hatchett, state Sen. Larry Walker, former Dublin Mayor Phil Best, and community member Edwin May will also serve on the panel, the outlet reports.

The temporary board members will assume leadership responsibilities as Dublin City Schools continues efforts to stabilize its finances following the deficit and address concerns surrounding its accreditation.

The suspension marks the latest state action involving the district after its financial problems led to emergency assistance, staffing reductions, and changes to the school calendar.

RELATED CONTENT: Local Leaders Call Georgia’s New Nonpartisan Election Law Racist

• Career

by Sidnee Michelle

August 19, 2026

Unemployment Benefits Could Help You Boss Up

Self-Employment Assistance programs allow eligible unemployment recipients to focus full-time on starting businesses.

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Workers who lose their jobs in several states may be able to collect unemployment benefits while launching their own businesses instead of immediately searching for another job, Founder Brew reports.

Self-Employment Assistance programs allow eligible unemployment recipients to focus full-time on starting businesses while continuing to receive weekly payments equivalent to regular unemployment benefits.

Participants can also receive entrepreneurial training, business counseling, and technical assistance.

Agencies in Oregon, Washington, Mississippi, New York, and New Hampshire confirmed they currently operate active versions of the program.

The federal Self-Employment Assistance program was authorized under the North American Free Trade Agreement Implementation Act of 1993.

Congress later permanently authorized the program in 1998. States may opt in, but must establish their own programs under federal requirements.

Unlike traditional unemployment insurance, which generally requires recipients to search for work, Self-Employment Assistance participants can devote their time to establishing a business. Participants may also be able to continue receiving benefits while earning income from their new businesses, depending on their state’s program.

Eligibility requirements vary.

New York, for example, requires participants to complete at least 20 hours of entrepreneurial training and meet with a business counselor at least twice. Applicants must first qualify for regular unemployment benefits before they can be considered for a self-employment program.

Washington considers factors including an applicant’s occupation, education, and location when determining eligibility.

“The range of ages and experience and personal characteristics is all over the board,” Gary Long, a supervisor for Washington’s program, told the outlet.

Long said a major consideration is whether an applicant is likely to “find a replacement job before exhausting their benefits.”

Workers in occupations with strong employment prospects may therefore be less likely to qualify. Washington’s approved occupations this year have included project management specialists, computer and information systems managers, business operations specialists, and urban and regional planners.

The criteria can change as regional economists and workforce development officials evaluate labor market conditions, Long said.

For eligible unemployed workers, the programs offer another route back into the workforce — not by finding a new employer, but by potentially becoming one.

RELATED CONTENT: Nearly 2 Million Americans Face Long-Term Unemployment Despite Lower Jobless Rate

• Women

by Edwian Stokes

August 19, 2026

Claiming The Ring And The Purse: Claressa Shields Redefined The Business Of Boxing

Flint’s self-proclaimed 'GWOAT' turned championship success into seven-figure earnings and financial independence.

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In the long, fraught history of American prizefighting, Black athletes have routinely supplied the blood and sweat while institutional gatekeepers extracted the equity. Claressa Shields is dismantling that legacy. The two-time Olympic gold medalist and multidivision undisputed champion is not simply winning fights. She is forcing combat sports to re-evaluate the price of Black women’s excellence.

The Price of Dominance

In her relentless pursuit of wage parity, Shields became the highest-paid female boxer after signing a multifight promotional contract worth at least $8 million with Salita Promotions and Wynn Records, BLACK ENTERPRISE reported. The two-year agreement guarantees multimillion-dollar compensation and includes an upfront signing bonus. It sets a new standard for women’s boxing purses.

In her most recent fight on Aug. 15 at State Farm Arena in Atlanta, Shields earned a guaranteed $500,000 purse, according to state athletic commission records. She moved down 38 pounds from heavyweight and defeated Kaye Scott by sixth-round technical knockout, reclaiming the WBA and WBC middleweight titles.

As she noted in an interview with The Guardian, “I knew that once I made $1 million, I knew that women’s sports was changing. All of us are packing arenas, all of us have great brands, and we have great fans who want to support us.”

Her financial drive mirrors her credentials, which include two Olympic gold medals and undisputed titles across three weight divisions. Speaking with DAZN News, Shields reinforced her economic posture: “I believe I should be getting paid $5, $10, $15 million a fight.”

Shields’ career prize fight earnings exceed $5 million, according to Sports Illustrated. This denotes a significant correction in a sport that has historically underfunded women. She has persistently advocated for pay that reflects her achievements, saying, “I’ve fought my entire career to prove that women’s boxing deserves equal respect, equal pay, and equal opportunity.”

Craft, Culture, and Capital

Shields’ focus has been visible from the start. Her longtime trainer, Jason Crutchfield, who has coached her since age 11 at Berston Fieldhouse in Flint, Michigan, emphasizes that her financial leverage comes from tactical skill and discipline. Crutchfield recalls encouraging Shields to let her performance speak for itself, certain that her talent would command promoters’ attention.

Her promotional team recognized Shields’ unique crossover appeal. Dmitriy Salita, president of Salita Promotions, praised her contract for creating a new standard in combining sports, entertainment, and corporate sponsorship to build a fighter’s career.

“Every one of Claressa’s fights is historic,” Salita declared ahead of her Atlanta showcase, calling her draw power a milestone for combat sports.

Ownership as the Ultimate Title

Black Enterprise has closely chronicled her financial ascent and athletic exploits, spotlighting her tactical brilliance and weight transition as she captured two middleweight titles. Outside the ring, her move into executive ownership demonstrates a broader movement among Black athletes taking control of their commercial narratives. As detailed by Essence, Shields established Claressa Shields Promotions to manage her own portfolio and support the next generation of pugilists in brand monetization and financial empowerment.

As BE reported during her induction into the Michigan Sports Hall of Fame, Shields commands authority across disciplines, seamlessly pairing boxing championships with multiyear MMA contracts in the Professional Fighters League.

Shields’ approach offers clear lessons: advocate for your worth in contract discussions, seek out opportunities for ownership or leadership in your field, and invest in the skills and relationships that create long-term value. By asserting her value in negotiations and expanding into promotional management, Shields sets a modern example for sports enterprise. She demonstrates that genuine championship power is measured by ownership, leverage, and lasting equity, not just titles.

RELATED CONTENT: Claressa Shields Chops It Up With Fans Ahead Of Historic ATL Fight

• Business

by Sidnee Michelle

August 19, 2026

Master P Wants To Take Rap Snacks Public And Create Investment Opportunities

The entrepreneur connected Rap Snacks' potential expansion to a larger push for Black business ownership.

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Master P wants to take Rap Snacks public, a move the rapper and entrepreneur says could create investment opportunities for Black consumers and help address the racial wealth gap, according to AfroTech.

Master P, whose legal name is Percy Miller, is a limited partner in Rap Snacks and maintains a stake in the company, AfroTech reported. He also recently discussed the brand’s future with Forbes, saying an initial public offering could be the company’s next step, although no final decision has been made.

“Our next goal is to go public,” Master P told Forbes. “The next level is taking the company public. We ain’t decide yet, but that’s something.”

Master P said the potential move could allow consumers who have supported Rap Snacks to become investors and participate financially in the company’s growth.

“We have to show our people how to bridge the wealth gap,” he said. “If we take this company public, then now we get the local people in the community, the culture to be able to invest into this brand, and then they make money with us, we make it together.”

Rap Snacks was founded in 1994. The company has built its brand around hip-hop culture through products and partnerships featuring rappers and other entertainers. Rap Snacks products are available in 40 cities and national retail chains, including Walmart, Kroger, Sam’s Club, and Target, according to the outlet.

Master P also pointed to the challenges Black-owned businesses face in securing retail shelf space and achieving long-term sustainability.

“For James to have the Rap Snacks and for us to be partners and the adversity that we went through, when you look at an African American-owned business, it’s all about shelving space, and it’s all about sustainability,” he said of its founder.

“And look, after 30 years, still here.”

The entrepreneur connected Rap Snacks’ potential expansion to a larger push for Black business ownership and representation among the nation’s biggest companies.

“How do you build these Fortune 500 companies?” Master P said. “So, we want to change that narrative.”

RELATED CONTENT: Master P Is Eyeing Head Coaching Position At Arizona State

• Technology

by Sidnee Michelle

August 19, 2026

Scammers Are Using AI, Making It Harder For Elders To Peep Fraud

Experts told the outlet that elder fraud is underreported, suggesting the actual financial toll could be higher.

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Artificial intelligence is giving scammers new tools to target older Americans, adding another financial and emotional burden for adults already caring for aging parents and their own children, USA Today reports. Americans 60 and older filed more than 200,000 cybercrime elder fraud complaints with the FBI in 2025, reporting nearly $8 billion in losses.

Experts told the outlet that elder fraud is underreported, suggesting the actual financial toll could be higher.

The growing threat is particularly concerning for members of the “sandwich generation,” adults simultaneously caring for children and aging parents. Some caregivers are now monitoring their parents’ bank accounts, phone calls, text messages, and mail to help prevent fraud.

Clayton LiaBraaten, senior executive spokesperson for caller ID and spam-blocking app Truecaller, told the outlet that scammers are using AI to identify potential victims and exploit personal information.

In one recent case, a widow lost more than $7,000 after scammers claimed they had worked with her late husband to conceal tax evasion. They told her she needed to pay them to protect what remained of her inheritance.

Using AI, scammers are “scouring obituaries and looking for vulnerabilities,” LiaBraaten said. “It’s so disgusting, I can barely keep my cool about it.”

AI can allow criminals to research potential victims, develop personalized scripts, and generate deepfake images, voices, and videos, according to LiaBraaten. The technology can also enable scammers to make thousands of calls simultaneously.

Ian Bednowitz, general manager at identity theft protection service LifeLock, experienced the effects of elder fraud after his mother’s paid caregiver stole her identity in 2016 and opened fraudulent loans and credit cards.

“I was already under financial stress, taking care of my mom,” Bednowitz said. “I can’t tell you the despair and weight that I felt.”

Cybersecurity expert and author Patrick Coughlin said the consequences can extend beyond financial losses. Shame can cause victims to delay disclosing fraud, potentially allowing scammers to steal more money.

Bednowitz urged families to prioritize financial and data security alongside physical and mental health.

“Don’t wait until something happens, because then it’s a lot harder to resolve,” he said. “Make sure that you’re protecting all of their data, not just their physical and mental health.”

RELATED CONTENT: FTC Warns Senior Fraud Losses Soared In 2024

• Contributor Network

by BLACK ENTERPRISE Editors

August 19, 2026

Doing The Most Without The Title? Turn Extra Work Into Your Next Promotion

Don’t let a temporary opportunity quietly become your permanent job description.

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Dear Fairygodmentor®,

I’ve Been Doing My Boss’s Job All Summer While They’re Out. How Do I Ask To Be Paid—or Promoted—for It?

–Doing The Most

Dear Doing The Most,

Congratulations!!!

No seriously.

Someone trusted you with a ton of responsibilities above your pay grade. That’s usually good news.

The question isn’t whether you can do the work.

It’s whether this opportunity is actually leading somewhere.

The Opportunity Test

Not every stretch assignment deserves your stretch. Ask yourself four questions:

1. Is this temporary…or permanent? There’s a huge difference between “Can you cover while she’s on maternity leave?” and “Can you just keep doing this?” Temporary opportunities build resumes. Permanent “temporary” just builds resentment.

2. Are you learning…or just carrying? This one’s huge. 

If you’re: 

• leading meetings

• making decisions

• presenting to executives

• managing relationships

• learning budgeting

that’s leadership experience.

If you’re simply doing twice the work…that’s workload. Those aren’t the same thing.

3. Does leadership actually see it? If nobody knows you’re doing it…it doesn’t exist. Visibility matters. You’re not bragging. I’m talking about visibility. As Muhummad Ali said “It ain’t braggin’ if it’s the truth.” I share this sentiment in my book Show Your Ask. It shouldn’t sound like “Look what I did.” Instead, it should sound like, “I’d love to share what I’ve learned while leading this project.”

4. Is there an exit strategy? This is where most people get stuck. 

Ask:

“What does success look like?”

“When will responsibilities transition back?”

“How will this experience factor into future opportunities?”

If nobody can answer…that’s information.

Don’t let a temporary opportunity quietly become your permanent job description.

The Career Investment Test

Every extra assignment is one of the two things.

A Career Investment

It gives you:

• new skills

• visibility

• relationships

• measurable wins

• promotion stories

OR

Career Debt

You invest time.

Your company collects interest. 

You get tired.

Nothing changes.

So when should you ask?

It shouldn’t sound like “I’ve been working really hard.”  Instead, it should sound like “I’ve successfully led X over the past three months, improved Y, reduced Z, and I’d love to discuss how this experience positions me for future leadership opportunities.”

That’s a completely different conversation. You’re not asking for gratitude. You’re simply presenting evidence. Facts, not feelings.

Never confuse being indispensable with being irreplaceable. Indispensable employees often get more work. Irreplaceable leaders get more opportunities. 

Be like the Beyoncé song; be Irreplaceable.

You got this!

Sincerely,

Your Fairygodmentor®

About Joyel Crawford

Joyel Crawford is an award-winning career and leadership development professional and the founder of Crawford Leadership Strategies, a consultancy that develops empowered, results-driven leaders through engaging leadership development coaching, training, and facilitation. 

Have a question about handling a micromanager? Are you having difficulty navigating spaces because of your hair? Is work stressing you out? Do you need support coaching poor performance, or are you wondering how to negotiate and get the job offer you desire effectively? Do you have any questions about career and leadership development? 

Ask Your FairyGodMentor® here.

• News

by BLACK ENTERPRISE Editors

August 19, 2026

The 56-Year Legacy Of BLACK ENTERPRISE Informs Its Future

Celebrating 55 years of BLACK ENTERPRISE is more than just a milestone

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BLACK ENTERPRISE is celebrating 55 years, and it’s far more than just a milestone; it’s a testament to a legacy of empowerment and staying power. Earl G. Graves Sr was the visionary who spearheaded this incredible mission in 1970, to amplify the stories of Black entrepreneurs and business leaders when no one else would.

For over half a century, BE has been the definitive source for Black business and economic progress. It was a seminal concept birthed from Mr. Graves’ belief that economic empowerment is the cornerstone of true liberation for Black communities. From its first issue to the evolution into a leading multimedia company, BE has not only reported on history; it has contributed to shaping it.

The next 55 years of BE are poised to build on this historical legacy of empowering Black Americans. Under the leadership of CEO Earl “Butch” Graves Jr., the company has shifted from a print publication to a multifaceted multimedia platform.

The future of BE is centered on maintaining its continued impact in a rapidly changing world. Key areas of focus include:

• Digital Expansion: BE is a leader in digital content, including podcasts and video, ensuring its message of economic empowerment reaches a global audience across multiple platforms. This digital-first approach is crucial for reaching younger generations and providing real-time information.
• Targeted Events: Signature events, such as the Women of Power Summit and the XCEL Summit For Men, continue to be vital spaces for networking, professional development, and celebrating excellence. These gatherings provide tangible connections and inspiration that can’t be replicated online.
• Advocacy and Education: BE remains a fierce advocate for economic equity and financial literacy. Our content and initiatives are designed to give Black Americans the tools they need to build wealth, succeed in corporate America, and scale their businesses, directly addressing the wealth gap.

As “Butch” Graves Jr. himself has stated, the company’s core mission is to empower its audience to become full participants in wealth creation within the global economy. This commitment to “elevating your excellence” ensures that BE will remain a crucial force in the decades to come.

This video provides a glimpse into the company’s forward-looking vision and commitment to economic empowerment. Elevating Your Excellence: Black Enterprise’s 55-Year Charge With Unwavering Vision

RELATED CONTENT: The 1st BLACK ENTERPRISE Cover Birthed A 55-Year Legacy

• Technology

by Sidnee Michelle

August 18, 2026

Content Creator’s AI-Generated Facebook Posts Rake In $10K-Plus A Month

Kvontay Devon Pringle operates five Facebook accounts featuring different types of content.

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A Mississippi content creator says he is earning more than $10,000 a month by using artificial intelligence (AI) to help create fictional Facebook posts designed to spark outrage and drive engagement, The New York Post reports.

Kvontay Devon Pringle, 26, operates five Facebook accounts featuring different types of content, according to the outlet. Pringle provided the outlet with screenshots of invoices and accounts indicating his content can generate as much as $17,000 a month, though the earnings have not been independently verified.

One of Pringle’s recent posts featured an AI-generated image of a fictional boy named Kevin alongside a story claiming the child had been sent home from school for wearing a pleated skirt with his uniform.

The post generated 8.2 million views and prompted widespread debate online. But the child and the incident were fabricated. Pringle said it took him about 10 minutes to create and publish the post.

“It’s honestly wild to me that a story about a boy who doesn’t even exist became this massive conversation online,” Pringle told the outlet.

“I think it shows how advanced AI has gotten, and how hard it can be for the average person to tell the difference.”

Pringle said the post generated an estimated $2,800 through Meta, Facebook’s parent company. The outlet said it could not independently verify that figure.

Some websites reported the fictional story as fact, raising concerns about how realistic AI-generated content can be and how easily misinformation can spread online. Pringle later added an AI label to the post.

Pringle, who previously operated a carpet-cleaning business, describes himself as a “comedian and storyteller” rather than a rage-bait creator. He said he writes the stories himself and uses AI to generate some of the accompanying images.

“I look at AI as another tool for creating content and telling stories,” Pringle said. “Movies aren’t real; reality TV isn’t always as real as it looks, and people tell fictional stories online every day.”

Pringle is also teaching his content strategy to others. He hosts nearly 100 students on the online education platform Skool, where he teaches aspiring creators how to produce viral content.

Pringle said his Facebook posts are not created with the intention of deceiving or harming people, though he acknowledged that users may feel misled after discovering the stories are fictional.

His growing business underscores how AI-generated content and engagement-based monetization are creating new opportunities for creators — while raising questions about transparency and the increasingly difficult task of distinguishing fabricated social media posts from reality.

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