• Sports

by Edwian Stokes

May 31, 2026

Wall Street Meets Broadway: MSG Sports Moves to Separate Knicks and Rangers

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Madison Square Garden Sports Corp. has filed a confidential Form 10 Registration Statement with the Securities and Exchange Commission to pursue a tax-free spin-off, separating the New York Knicks and New York Rangers into independent, publicly traded companies.
This proposal follows the MSG Sports board’s February approval to explore a strategic split.

The Knicks entity would oversee the NBA team and its G League affiliate, the Westchester Knicks, while the Rangers entity would manage the NHL club and the Hartford Wolf Pack of the AHL.

“Completion of the transaction would be subject to various conditions, including effectiveness of the Form 10 Registration Statement, any required league approval, receipt of a tax opinion from counsel, and Company board approval,” MSG Sports said in a statement.

The Financial Plan: Unlocking Blocked Value

The primary motivation for this transaction is to narrow the ongoing valuation gap between public market capitalization and private franchise appraisals.

MSG Sports has a public market valuation of about $8.5 billion. Sportico recently valued the Knicks at $9.85 billion and the Rangers at $3.65 billion, for a total private-market appraisal of $13.5 billion. Although MSG Sports shares trade at $372.83, the public stock is 29% below the combined private valuation.

Corporate conglomerates commonly face a “conglomerate discount” because their complicated frameworks obscure the valuations of their pure-play assets. Separating the franchises allows for independent evaluation of each team’s growth prospects, cash flows, and media rights opportunities.

“The spin enhances the possibility of raising capital, and it makes minority stake sales easier, as there are two distinct teams’ business models, which makes for a clearer investment vehicle,” David Joyce, an analyst at Seaport Research Partners, wrote in a research note.
The new structure has led to speculation that long-time owner James Dolan may consider selling control of one franchise. Although sources close to the situation deny plans for a full sale, separate entities would simplify any partial or total divestiture.

Tax Complications and Real Estate Headwinds

The spin-off is expected to be tax-free for shareholders, but recent federal tax changes introduce financial obstacles. A revised federal tax provision expanding the Internal Revenue Code will limit deductions for executive compensation starting in the 2027 tax year. The law raises the $1 million deduction cap from five executives to 10. According to Seaport Research Partners, an independent Knicks entity would pay its top five executives and top five players $195 million, triggering an estimated $55.4 million tax liability. The Rangers would face an additional post-spin tax of $19.8 million on $76 million in payroll.

The teams are also connected to Madison Square Garden Arena, which is associated with Sphere Entertainment Co. According to the company’s annual report, Sphere Entertainment spun off a majority stake in the arena’s operating company in 2023, but retained about a one-third ownership share, making lease terms, shared costs, and cash flows among Dolan-controlled entities important factors as the arena’s permit approaches its 2028 expiration. planning.

On-Court Performance Drives Revenue

The restructuring comes as the Knicks reach a peak in their business performance. According to Front Office Sports, strong seasons from both the Rangers and Knicks contributed to a 13% year-over-year increase in the third quarter revenue for the Madison Square Garden Sports Corp. After advancing to the NBA Finals by sweeping the Cleveland Cavaliers in the Eastern Conference Finals, the franchise is set to earn at least $140 million in postseason arena revenue.

In contrast, the Rangers missed the postseason for a second straight year, highlighting the two franchises’ differing competitive cycles as they prepare to separate their finances.

• XCEL Summit For Men

by BLACK ENTERPRISE Editors

May 30, 2026

Former Astronaut Dr. Bernard A. Harris Jr. Will Receive XCEL Award At The 2026 XCEL Summit

Harris will be honored for his decades-long contributions to science, education, and leadership during the conference

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Former NASA astronaut and physician Dr. Bernard A. Harris Jr. will receive an XCEL Award at the 2026 BLACK ENTERPRISE XCEL Summit for Men, taking place in Orlando, Florida, at the the Hyatt Regency Grand Cypress on Oct. 21-Oct. 23, 2026.

Harris will be honored for his decades-long contributions to science, education, and leadership during the conference, which focuses on leadership development, career advancement, and networking opportunities for men of color in business and professional industries.

Harris made history in 1995 as the first African American astronaut to complete a spacewalk during NASA’s STS-63 mission aboard the space shuttle Discovery. During his career with NASA, Harris logged more than 438 hours in space and traveled more than seven million miles.

Mike Foale, NASA Astronaut & Spacewalk Partner, reflected on Harris and his journey.

“Bernard Harris did the first EVA by an African American, and it was a big deal. Bernard was cool about it, but from a historical and US— even a world— societal perspective, it was important.” 

In addition to his achievements in aerospace, Harris has built a career in medicine, venture capital, and STEM education advocacy. He is the founder of The Harris Foundation, an organization that supports math and science education initiatives for underserved students. Harris also previously served as CEO of Vesalius Ventures, a healthcare investment firm focused on medical technologies and innovation. Harris was also inducted into the U.S. Astronaut Hall of Fame in 2025 and has received the Presidential Lifetime Achievement Award.

BLACK ENTERPRISE will highlight Harris’ impact across science, business, and education at The XCEL Summit for Men, which annually brings together executives, entrepreneurs, and cultural leaders for panel discussions, workshops, and mentorship opportunities centered on professional growth and community leadership.

Additional speakers and honorees for the 2026 conference are expected to be announced in the coming months.

RELATED CONTENT: 7 Black Power Players In Aeronautics

• Sports

by Edwian Stokes

May 30, 2026

Rooted in Wellness: How the Why Not? Foundation Is Transforming Community Mental Health

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Former NBA MVP Russell Westbrook and his Why Not? Foundation has launched an initiative to expand mental wellness education and restorative programs in Los Angeles and Altadena during the final week of Mental Health Awareness Month.
 
The foundation is partnering with local women-led grassroots organizations to deliver targeted wellness activities for women, youth, and families.
 
This initiative reflects a broader shift among athlete-led foundations from traditional charity to sustainable, community-integrated social enterprises. By applying specialized corporate strategies in underserved areas, it seeks to establish lasting support systems instead of temporary solutions.

Hyper-Local Partnerships and Resource Deployment
 
In partnership with regional nonprofits such as Shepherd’s Door Domestic Violence Resource Center, The Jenesse Center, and Neighborhood Survants, the foundation is launching a localized, multitiered programming model. These efforts aim to address gaps in mental health access for vulnerable populations.

The schedule features wellness events, including a partnership with the Altadena Healing Village, a free, volunteer-run clinic for fire survivors and individuals in crisis. The clinic provides trauma-informed yoga, acupuncture, and Reiki healing for domestic violence survivors. Additional restorative yoga and sound bath sessions will highlight local Black-owned businesses, supporting the local economy. Loma Alta Park in Altadena will host a forum on early mental health education and community networking for youth and families.

Amelia Williamson, managing director of the Why Not? Foundation, stated that partnering with local groups to deliver targeted resources to vulnerable community members is central to the organization’s mission.

“May is Mental Health Awareness Month, and partnering with local organizations to provide intentional care, resources, and experiences to some of our most vulnerable community members across Los Angeles and Altadena is central to our mission.” 

Driving Corporate Social Responsibility and Local Commerce

From a corporate social responsibility perspective, the foundation’s approach highlights the benefits of cross-sector collaboration. The initiative leverages marketing resources and support from companies such as The Brown Girl Ink Agency, providing participants with tangible wellness resources and integrating philanthropy with brand engagement.

By involving local vendors, the foundation ensures that philanthropic funds directly benefit community businesses. “Healing starts with feeling seen, supported, and valued,” said Tunisia Offray, co-founder of Shepherd’s Door. “We are grateful to the Why Not? Foundation for helping create a safe space where our clients can prioritize their mental wellness.”

The Executive Fundraising Culmination

The series concludes with the 4th Annual Mental Health & Wellness Brunch Fundraiser, co-hosted by Bene by Nina Westbrook. This year’s event, “Rooted: Wellness That Runs Deep,” serves as the foundation’s primary fundraiser for its mental health initiatives.

The fundraiser facilitates idea-sharing among corporate, philanthropic, and cultural leaders. Moderated by Nina Westbrook and hosted by Cari Champion, the forum features prominent corporate and creative figures, including Tabitha Brown and Mara Brock Akil. The event positions mental health advocacy as a key element of modern corporate leadership and human capital management.

Since its founding in 2012, the Russell Westbrook Why Not? Foundation has expanded beyond youth education. Through workforce development and increased access to health resources, the foundation demonstrates how athlete-led initiatives can deliver meaningful social and economic impact.
 
 
 

• Video

by Kenneth Meeks

May 30, 2026

Just How Ubiquitous Will Artificial Intelligence Get?

Robert F. Smith’s Prediction Will Astonish You

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Robert F. Smith, chairman and CEO of Vista Equity Partners, which has more than $107 billion in assets under management, spoke about the future of artificial intelligence with Black Enterprise CEO Earl “Butch” Graves, Jr., at the past XCEL Summit For Men. Given that Smith manages a diversified portfolio of software companies that provide solutions to millions of customers worldwide, he has unique insight into the future of this technology. His company is one of the largest asset managers dedicated to enterprise software. A 2025 XCEL Award Honoree, Smith declares that A.I. is here to stay. In fact, he says up to $3 trillion is being poured into its infrastructure and will one day change the economic dynamic of the entire planet. Hear it from the man who paid off the student loan debt for the entire Morehouse graduating class of 2019.

• Education

by Sidnee Michelle

May 29, 2026

Young Birmingham Engineering Scholars Recognized By Historic Women’s Organization

The students were recently honored by the Birmingham chapter of The Links Incorporated and its members of the Society of Women Engineers.

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A group of young engineering students in Birmingham has been recognized for academic achievement and leadership by The Birmingham Chapter of The Links Incorporated and its members of the Society of Women Engineers, a group supporting women in engineering, highlighting continued efforts to expand opportunities for girls in STEM fields.

The students were recently honored during a ceremony celebrating middle and high school students pursuing engineering and technology education in Alabama. The recognition spotlighted students who demonstrated excellence in academics, innovation, and community involvement, according to AL.com and local education organizations. The NSBE organization, founded nationally in 1950, is considered one of the oldest advocacy groups for women engineers in the United States and works to increase female representation across engineering and technology professions.  

“The importance of the NSBE program is that it’s family, it’s a community, it’s a group of people who look like you,” said Andrea Montgomery, a Links member, mechanical engineer, and member of the National Society of Black Engineers.

The Birmingham-area students honored this year participated in engineering-centered activities ranging from robotics and leadership academies to science competitions and mentorship programs. The Birmingham Chapter of The Links Incorporated acknowledged 28 students from Carver High School, Ramsay High School, and Parker High School during its National Society of Black Engineers Junior Honors and Awards Day. Local school systems and community partners have increasingly invested in STEM education initiatives to prepare students for careers in engineering, computer science, and advanced manufacturing.  

NSBE says that the recognition serves not only as a celebration of student achievement, but also as encouragement for more young women and underrepresented students to pursue technical careers. National studies continue to show women remain underrepresented in many engineering disciplines despite years of recruitment efforts. Programs led by organizations such as the Society of Women Engineers seek to address those disparities through scholarships, networking opportunities, and student outreach.  

The event also reflects Birmingham’s broader push to strengthen educational pipelines connected to science and technology industries throughout Alabama.

School leaders and community advocates said honoring students at an early age can help build confidence and long-term interest in STEM careers, particularly among girls who may not traditionally see themselves represented in engineering fields.

RELATED CONTENT: Howard University Receives Nearly $2M Gift From AutoDesk To Support Engineers In AI Training

• Politics

by Selena Hill

May 29, 2026

Congressional Black Caucus Calls On Corporate America To Oppose Redistricting Efforts Targeting Majority-Black Districts

Lawmakers are urging major corporations to publicly defend voting rights as battles over congressional maps intensify

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The Congressional Black Caucus (CBC) is calling on some of the nation’s largest corporations to take a public stand against redistricting efforts that could reduce Black political representation in Congress.

In a letter sent to more than 250 companies, CBC members urged business leaders to oppose Republican-led redistricting initiatives that seek to eliminate or redraw majority-Black congressional districts, reports The Associated Press. Lawmakers described the efforts as coordinated attempts to weaken Black voting power and political influence.

The appeal comes just weeks after a U.S. Supreme Court ruling significantly weakened a key provision of the Voting Rights Act, making it more difficult to challenge district maps that critics argue dilute minority voting strength. Since the decision, several states have pursued new congressional maps that could reshape representation ahead of the 2026 midterm elections.

CBC Chairwoman Yvette Clarke and other members of the caucus are asking corporations to condemn the redistricting efforts, meet with lawmakers, and provide greater transparency regarding political donations connected to officials who support the map changes. The caucus argues that companies that previously championed racial equity and voting rights should remain engaged now that those issues are again under national scrutiny.

“Many companies that previously issued statements after the murder of George Floyd, pledged billions toward racial equity initiatives, and spoke forcefully in defense of democracy following January 6 now face a defining test of whether those commitments were rooted in principle or convenience,” the caucus’s letter states.

Apple, Amazon, Google, Meta, Microsoft, Salesforce, PayPal, Target, Starbucks, and Tesla were among the companies that joined the Business for Voting Rights coalition, which publicly supported the passage of the John Lewis Voting Rights Advancement Act in 2021.

The caucus’s campaign coincides with a broader national battle over congressional redistricting. In states like Louisiana, lawmakers have advanced maps that would dismantle majority-Black districts, while civil rights organizations have signaled plans to challenge some of the proposals in court. Supporters of the maps argue that the changes reflect political rather than racial considerations. Critics contend the efforts could diminish Black voters’ ability to elect candidates of their choice.

Last week, the caucus called for Black student athletes to boycott universities in red states that are gerrymandering their congressional maps to eliminate districts held by Black Democratic lawmakers. 

RELATED CONTENT: Voting Rights Advocates Mobilize Nationwide For ‘All Roads Lead To The South’ Day Of Action

• Entrepreneurship

by Sidnee Michelle

May 29, 2026

HBCU Founders To Make History With First Pitch Competition In Times Square

Venture for T.H.E.M. announced that it will partner with The DM Firm and the Times Square Alliance for the inaugural HBCU Pitch Competition in Times Square

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Morgan State alums and entrepreneurship leaders are set to bring a first-of-its-kind HBCU startup pitch competition to the center of New York City during New York Tech Week this upcoming June.

Venture for T.H.E.M. announced that it will partner with The DM Firm and the Times Square Alliance to host the inaugural HBCU Pitch Competition in Times Square on June 6 as part of Activate LIVE!, a public showcase highlighting emerging founders and innovators.

The event will take place in Times Square during New York Tech Week. It will feature five entrepreneurs connected to historically Black colleges and universities competing before a panel of business and technology leaders. Organizers said the initiative aims to increase visibility and investment opportunities for Black founders and student entrepreneurs.

According to a press release, more than 300,000 visitors typically move through Times Square on summer weekends, giving participating founders exposure on one of the nation’s most recognizable public stages. 

The competition will include presentations by founders from several HBCUs, including Peter Iwuh of Morgan State University, founder of Tykoon AI, a platform focused on NIL and athlete brand management; and Daryl Riley Jr. of North Carolina A&T State University, founder of the fashion technology company Tendaji, among others.

Additional competitors include Taylor Davis of Howard University, creator of the restaurant discovery application Troodie, and Carolyn Alston of Bowie State University, founder of the conversational card game Communic8 It!

Judges for the event include executives and leaders from companies and organizations such as  Moët Hennessy, Base 11, the  NBA Foundation, and the Milken Institute.

Organizers said the event reflects a broader push to create equitable access to capital and networking opportunities for underrepresented entrepreneurs. Venture for T.H.E.M., a Maryland-based accelerator, focuses on supporting founders from historically underserved communities through mentorship, access to funding, and business development initiatives.

RELATED CONTENT: 15 HBCUs Create Association With Goal of Reaching Coveted R1 Research Status

• HBCU

by Ashlei Stevens

May 29, 2026

Propelling Toward the Future: HBCU Students Design AI-powered Solutions

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Morgan State University students take home top prize at PROPEL Center Future of Tech Innovation Challenge.

Having a dream job and putting those skills into action before earning your degree is a win-win for Fikewa Akindolire. The rising junior, honors information systems major at Morgan State University, did just this at the inaugural PROPEL Center Future of Tech Innovation Challenge, where her school’s team won first place.

“It’s not just about winning; it really just gave me insights and reaffirmed my career aspirations of becoming a product manager,” Akindolire, an aspiring AI/machine learning product manager, told BLACK ENTERPRISE. “Being able to see a product from inception all the way to fruition, prototyping and actually being able to pitch it—that’s exactly what I want to do in terms of being able to develop a product.”

Supported by Apple and Southern Company, PROPEL Center is a global technology and innovation hub, preparing students from historically Black colleges and universities (HBCUs) to transform the nation’s talent pipeline and workforce. PROPEL hosted its inaugural Future of Tech Innovation Challenge national finals in Austin, Texas, in mid-April 2026. The multiday event convened some of the nation’s most promising HBCU student innovators to showcase AI-driven solutions addressing real-world challenges.

The program engaged 1,100 applicants from 89 HBCUs. Seventy finalists were selected for the national finals, representing 17 HBCUs. Participants worked in teams exploring various sectors, including education, energy, health innovation, cybersecurity, and media technology, which PROPEL cites as “areas shaping the future of work and society.” Students were charged with identifying real-world problems, designing AI-powered solutions, and presenting their ideas to industry leaders.

“We are building a new standard for HBCU innovation, one that positions students not just as learners, but as creators, problem-solvers, and future leaders in AI and technology,” said PROPEL Center Vice President of Operations and Chief Strategy Officer Harriette K. Burrell. “What has been most exciting is seeing these students step into that potential in real time, bringing bold ideas to life, collaborating across disciplines, and applying AI in ways that are both innovative and deeply impactful.”

The winners walked away—not only with big cash prizes—but also with meaningful connections, working with cross-functional teams, and building skills that will prepare them for future careers in tech.

The winning team, “Hax Lab” from Morgan State, was awarded $35,000. In second place, “The Planeteers” from Fisk University were awarded $25,000, and in third place, “Team ABS” from Huston-Tillotson University took home $15,000.

Fueling Next Gen Black Tech Leaders

Black professionals account for 12% of the U.S. workforce, but only 8% of the tech industry, according to data from McKinsey. When you reach the top of the ladder, only 3% of technology C-suite executives are Black, data shows.

PROPEL Center aims to increase these stats through mentorship, hands-on training, and direct employer engagement to advance equity in the tech pipeline. In addition to the Future of Innovation Challenge, PROPEL Center launched PROPEL U last September, an applied learning platform for HBCU students that provides micro-lessons, AI foundation courses, and team-based challenges.

Similarly, BLACK ENTERPRISE’S BE SMART HBCU Hackathon, an annual coding competition for HBCU students, also aims to increase the pipeline of emerging tech talent to ensure they are adequately trained and prominently positioned to be recruited for jobs. Last fall in Charlotte, more than 300 students from 43 HBCUs formed 62 teams to develop technical solutions to solve real-world challenges. A panel of judges examined each team’s application impact, technical complexity, and user-friendliness, and rated teams on their pitch and presentation skills at the 10^th annual event.

“I am so proud of our BE Smart Hackathon and its participants,” said Earl “Butch” Graves, CEO of BLACK ENTERPRISE, lauding the 2025 winning team from Alabama State University. “It has met its goal of providing a showcase for HBCU students to display their technical expertise and gain exposure to the top companies in global business.” 

Likewise, Burrell, with PROPEL Center, expressed pride in the Challenge’s participants and can already foresee the positive impact that HBCU students will have on the industry’s future.

“Their creativity, confidence, and vision for the future have been nothing short of inspiring,” Burrell said, “and it reinforces exactly why investing in HBCU talent is so critical to shaping the next generation of leaders in technology.”

Meaningful Connections and Lasting Impact

For Akindolire of Morgan State, she says, “the culture of PROPEL was one of the most unique things I’ve ever experienced.” From collaborating with teammates and peers to networking with partners, meaningful connections were made that had a lasting impact.

Joining Akindolire on the winning team “Hax Lab” are Osita Odunze, Daniel Onyejiekwe, and Jaden Reeves.

“I enjoyed meeting students from different schools and universities,” said Reeves, who recently graduated as a cloud computing major, adding that he made new connections on LinkedIn—from peers to panelists to PROPEL and Apple employees. “Seeing all these bright minds in one space is something I truly appreciate.”

Onyejiekwe, also a Class of 2026 graduate, majored in computer science and is an aspiring software engineer. He said the Future of Innovation Challenge helped him step onto the main stage with confidence.

“This is the first time I got to take an idea and turn it into an actual product and pitch it to investors, which was really cool and took me out of my comfort zone,” he said.

The team “Hax Lab” plans to use their award money wisely: investing a portion in the stock market, assisting with grad school, pursuing business ventures, including real estate, and giving to people experiencing homelessness. Oh, and of course, per Onyejiekwe, maybe a few new kicks for the sneakerheads; thus, stepping into his future career in tech with style.

• Entrepreneurship

by Alisa Gumbs

May 29, 2026

Black Women Founders Raise $4.5 Million for Their Innovative Hair Extensions Brand

Tendai Moyo, CEO and co-founder of Ruka Hair, shares their fundraising journey and her best advice for other founders in a Black Enterprise exclusive

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London-based biotech beauty brand Ruka Hair has announced $4.5 million in new funding that will help it bring its innovative hair extensions to the U.S.

Co-founded in 2020 by Tendai Moyo, who was born in Zimbabwe, and Ugo Agbai, who was born in Nigeria, Ruka Hair has built a loyal following by tackling a problem Black women know all too well: finding hair extensions that don’t compromise on quality, safety, or ethics.

Solving for the sourcing questions around natural hair and the harmful chemicals found in synthetic options, Ruka Hair created its own patent-pending, lab-grown fiber called Synths 2. Its hair extensions are made from collagen, are biodegradable and hypoallergenic, and look, feel, and perform like natural hair without plastics or carcinogens.

The new round brings their total funding to $10 million and will allow them to launch U.S. operations this year.

Freedom Trail Capital and Henkel Ventures co-led the round with participation from Big Issue Invest, Backed VC, and angel investors, including British track star Dina Asher-Smith, and retail and M&A expert Sophia Dennis.

“Ruka Hair exemplifies what we look for: founders solving a real problem with genuine commitment, building through community rather than hype,” said Samyr Laine, co-founder and managing partner of Freedom Trail Capital, in a statement.

“Tendai and Ugo built this brand during one of the most challenging periods for consumer businesses, scaled through an authentic community, and are now pioneering biotech innovation that could reshape an entire category,” he continued. “Ruka is on track to become a category-defining brand and a future household name for textured haircare products.”

Co-founder Moyo spoke with BLACK ENTERPRISE about their fundraising strategy and the lessons it has taught them:

What was behind Ruka Hair’s decision to pursue venture capital?

For us, venture capital made sense because Ruka was never just about launching another beauty product. We are building a new fiber platform for textured hair, and that requires significant upfront investment in research and development, testing, supply chain, manufacturing, education, and brand-building.

There are parts of the business that look like consumer packaged goods, but the ambition is much more infrastructure-led. We are trying to change the quality, safety, and experience of hair extensions for a community that has historically been underserved. To do that properly, we needed investors who understood that the opportunity was not just [about] short-term growth, but long-term category transformation.

What has the fundraising journey been like for you?

Fundraising has been stretching, humbling, and, honestly, character-building. We have raised through very different market conditions: from the peak of consumer enthusiasm to a much tougher environment where capital has become more cautious, especially for consumer brands.

As a Black female founder building in a category that has often been misunderstood, I have also had to spend a lot of time educating investors on the scale of the textured hair market, the depth of the consumer problem, and why this category deserves serious innovation.

But the journey has also been incredibly affirming. The right investors have understood that Ruka is not just a beauty brand. It is a science, community, and culture-led business tackling a huge global market.

How did you determine that it was time for another round of fundraising?

The timing was driven by the stage of the business. We had built strong community trust, proven demand, developed Synths 2—our collagen protein fiber-braiding hair—and reached a point where the next phase required more infrastructure.

This round allows us to move from proving the concept to scaling it properly. That means investing in research and development, product testing, supply chain resilience, manufacturing consistency, education, and the operational foundations needed to grow in the United States and beyond.

We were also very conscious of growing responsibly. In a difficult consumer environment, we deliberately constrained spend rather than chasing unprofitable growth. Now the focus is on building the foundations that allow us to scale with more discipline and longevity.

How is this new round of funding different from previous rounds?

This round feels different because it is less about proving that the market exists and more about proving that we can build the future of the category.

Earlier rounds were about vision, community, and the initial product-market fit. This round is more about infrastructure, defensibility, and execution. The conversations are deeper—around supply chain, intellectual property, safety, testing, gross margins, operational readiness, and what it takes to build a business that can last.

As a founder, it also feels more serious. You are no longer just asking people to believe in an idea. You are showing them the system you are building and the discipline behind it.

What will this $4.5 million infusion mean for your hair extensions?

The funding will help us continue scaling Synths 2, our collagen protein fiber-braiding hair, and the wider fiber platform behind it.

It will allow us to invest further into research and development, product testing, supply chain, manufacturing, education, and retail readiness. For us, it is about making sure the innovation is not only exciting, but safe, consistent, high-performing, and easy for customers to understand.

It also supports our United States expansion, including fulfillment, content, community building, and the foundations for larger retail partnerships. We see the United States as a major growth market for Ruka, both commercially and culturally.

Ultimately, this funding helps us build the infrastructure to take textured hair innovation seriously—at the level our community has always deserved.

What advice do you have for other founders about fundraising?

I would say: know what kind of business you are building before you decide what kind of capital to take.

Venture capital is not just money. It comes with expectations around speed, scale, and outcomes, so it has to match the ambition and structure of the company.

I would also tell founders to get very clear on the story behind the numbers. Investors need to understand the market, but they also need to understand why you are uniquely positioned to win. Especially if you are building in a category that has been overlooked, part of the job is education.

And finally, do not let the fundraising process define your worth as a founder. A no is not always a reflection of the quality of the business. Sometimes it is timing, mandate, market conditions, or simply a lack of understanding. The key is to stay close to the truth of what you are building, keep refining the story, and make sure the capital you take serves the company—not the other way around.

• Sports

by Selena Hill

May 29, 2026

Black Lawmakers Block Controversial NCAA NIL Bill

Opponents of the SCORE Act argue that it would strengthen the NCAA’s power while limiting labor protections and voting rights for college athletes.

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A coalition of Black lawmakers and progressive Democrats has successfully blocked the advancement of the controversial Student Compensation and Opportunity through Rights and Endorsements (SCORE) Act, a sweeping proposal aimed at reshaping college athletics and name, image, and likeness (NIL) compensation rules for student-athletes.

The legislation, introduced by Rep. Gus Bilirakis, sought to establish a national NIL framework while giving the NCAA and athletic conferences broader authority to regulate college sports. Supporters argued the bill would bring consistency to the rapidly evolving NIL landscape and protect student-athletes from exploitation. However, critics said the proposal would primarily benefit universities and athletic organizations while limiting athlete rights and labor protections.

According to The Hill, Republican leadership pulled the bill from consideration after failing to secure enough bipartisan support in the House. Black lawmakers and athlete advocates played a major role in derailing the legislation, warning that the bill would weaken athletes’ bargaining power and prevent future state-level protections.

One of the bill’s most contentious provisions would have barred student-athletes from being classified as employees, effectively denying them access to collective bargaining rights and certain labor protections. The legislation also proposed granting the NCAA limited antitrust protections, shielding the organization from certain legal challenges related to athlete compensation rules, reports Morgan Lewis.

The failed vote underscores the growing political divide over the future of college sports, particularly as Black athletes continue to generate billions of dollars in revenue for universities, conferences, broadcasters, and sponsors. Critics of the SCORE Act argued that federal legislation should prioritize athlete empowerment, long-term financial security, healthcare protections, and equitable compensation instead of restoring power to institutions already benefiting from the current system.

RELATED CONTENT: Ole Miss Football Star Trinidad Chambliss Is Amazed By His NIL Earnings, ‘Wow, I Have That Much Money’