• Education

by BLACK ENTERPRISE Editors

June 5, 2026

Lil Baby Clears $24K In Student Debt For Recent Spelman Graduate

Lesley reflected on her choice to contact the Grammy-winning rapper, despite the slim chances of success.

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Rapper Lil Baby received online praise after reportedly paying off more than $24,000 in student loan debt for a recent Spelman College graduate. This fulfilled a request she made years ago when she started her college journey, HBCU Gameday reports.

The recipient, Janay Lesley, is a first-generation college graduate, an aspiring rapper, and an advocate living with sickle cell disease. Lesley reached out to the Atlanta-based artist in April 2022, shortly after enrolling at Spelman College, asking for help with her educational costs.

In a video about the experience, Lesley reflected on her choice to contact the Grammy-winning rapper, despite the slim chances of success. “They say you miss 100% of the shots you don’t take,” she said, recalling the long journey that began with a direct message sent during her freshman year.

“I was a freshman, barely,” she reflected. “And I said, ‘Hey Lil Baby, can you pay my tuition?’”

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A post shared by Janay ☆ (@nay_speaks)

The breakthrough happened after Lesley completed her degree. She said her mother called her with unexpected news about her student loans.

“My mom calls me today and says, ‘Nay, I got an email about your loans,'” Lesley said. “‘It says that they were paid off in full.'”

Lesley explained that her remaining student loan balance was $24,074.97 before it was cleared. “The loans are paid,” she said in the video, celebrating the moment with her followers.

This story has resonated with many current students and recent graduates facing the financial challenges of higher education. Lesley described the experience as a lesson in perseverance and belief, noting that four years passed between her initial request and the payoff.

“I just want to emphasize that prayer, manifestation, delusion, all of these things hold power. It is 2026. I have got my degree. And here comes Lil Baby to pay off my loans,” she concluded.

RELATED CONTENT: New Lawsuit Demands Department Of Education Forgive Student Loans Under Key Repayment Plan

• Entrepreneurship

by Alisa Gumbs

June 5, 2026

Djenaba Johnson-Jones Spills The ‘Best-Kept Secret’ To Get That Coin For Your Company

Hudson Kitchen Founder Djenaba Johnson-Jones got the help—and resources—she needed from her local government

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When Djenaba Johnson-Jones was trying to get Hudson Kitchen, a food business incubator and shared commercial kitchen based in Kearney, New Jersey, off the ground, she never expected that one of her biggest sources of support would be her local government.

“I had actually worked a corporate job for 15 years and was laid off at the end of 2014, and I was like, I can’t go back.”

At first, Johnson-Jones decided to launch a personal training business that included a healthy meal delivery service, but she couldn’t find a commercial kitchen to make the food.

“At the time, there were six commercial kitchens in the state of New Jersey, so most people were using church kitchens or restaurants after hours,” she says. “And I was like, we’re going to build this thing. I’m going to build something that I can use for my business, and then I can bring it to others.”

Ten years later, Hudson Kitchen is a thriving membership-based commercial kitchen and successful incubator, having taught its Food Business Bootcamp course to more than 300 entrepreneurs, created almost 60 jobs, and generated $9 million in revenue.

But to get here, Johnson-Jones needed help. And she found it in a place that many small business owners overlook.

Johnson-Jones spoke at the recent How I Got Here Small Business Summit and shared how she used public resources, from both her state and local government, to fund and grow her business.

Here are her lessons for other entrepreneurs.

Talk up your business; you never know who’s listening

“I started a survey for my business to find out who’s interested in a shared commercial kitchen, how they would use it, and what they would pay. And when I posted it online, the deputy mayor of Jersey City invited me into the office and said, ‘We’re interested in this business.’ That’s how that got started. She reached out, and I got to go to their office and present my idea of what I wanted to do. From there, they connected me with Rising Tide Capital [a nonprofit that transforms communities through entrepreneurship], and then I just started attending every entrepreneur event that I could possibly attend, wherever it was.”

Make use of your local government connections

“I worked with Hudson County Economic Development and Union County Economic Development to obtain an SBA loan for the business. They really took my business plan, reviewed it, made some updates, and then they made introductions to banks on my behalf.”

Apply for grants like it’s your job

“There’s money, a lot of grant money, available. There’s one specific grant, the Small Business Improvement Grant, that, when I bought desks, chairs, and tables, I was able to get reimbursed for all of that stuff. Navigating the grant process is challenging, but all of these organizations throughout the state do webinars, and they post the application in advance. So I would print the application out, watch the webinar, fill out the application, and then when applications opened, it was on my calendar, and I was sitting at my computer refreshing, and that’s the way I was able to get it.”

Don’t forget about local universities

“I didn’t know anything about opening a shared kitchen. But Rutgers University is here, and I was able to work with them and with Nolan Lewin [executive director of their Food Innovation Center]. He gave me some advice, and they were very helpful.”

RELATED CONTENT: Mr. ChimeTime Went From Verizon Employee To Popular Food Influencer

• Men

by Kenneth Meeks

June 5, 2026

Starting A Business In Today’s World Has Become Painfully Stressful

Chazz Scott Offers the Mental Tools You Need to Become a Successful Entrepreneur

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The American Institute of Stress released research from Bayes Business School on the daily stress levels of self-employed entrepreneurs compared to those employed at a company. Among the findings, business owners reported 24% higher stress than those gainfully employed. It’s a recurring issue as old as time. At the 2023 XCEL Summit for Men (then known as the Black Men XCEL Summit), Chazz Scott, author and mindset coach for Supra Mentem, sat down with BLACK ENTERPRISE Deputy Chief Content Officer Alisa Gumbs to spotlight the importance of inner well-being and peaceful mental health. And the strategy he suggested to become a successful leader back then still resonates today.

As we gear up for the 10^th anniversary of the XCEL Summit for Men, BE reminds young Black men that those tools will improve your quality of life. Scott says in this short clip from a previous Spotlight series that success has changed. It’s not having the big house anymore; it’s having inner peace and well-being because without it, you can’t reach success — let alone sustain it.  

RELATED CONTENT: OpEd: Strong Black Woman Or Silently Suffering? The Cost Of Emotional Suppression

• Entrepreneurship

by BLACK ENTERPRISE Editors

June 5, 2026

Black Startups Are Gaining More Funding In 2026, But Equity Concerns Remain

Black-founded startups raised $643 million marking the highest quarterly total since the second quarter of 2022.

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Black entrepreneurs in the United States secured their strongest quarter for venture capital funding in nearly four years. Despite the increase, experts say the surge masks ongoing structural challenges that continue to limit access to capital for many Black founders and startups, according to TechCrunch.

Crunchbase data show that Black-founded startups raised $643 million during the opening months of 2026, marking the highest quarterly total since the second quarter of 2022, when founders secured $653 million. The amount already represents nearly 70% of the $942 million that Black founders raised in all of 2025.

However, the gains were largely driven by a small number of sizable investments rather than broad-based growth across the startup ecosystem. Major rounds included AI company SambaNova Systems’ $350 million funding raise, which significantly boosted overall figures.

While the funding totals are encouraging, Black founders continue to receive only a small fraction of overall venture capital dollars. Last year, Black entrepreneurs accounted for just 0.32% of the roughly $290 billion invested across the venture market.

Gené Teare, Crunchbase’s head of research, told TechCrunch that persistent barriers continue to affect fundraising outcomes. Those obstacles include “access to networks, relationships, and early introductions,” factors that often influence venture capital decisions before formal pitches occur.

“We are eight to nine quarters into a venture funding downturn, but Crunchbase data has shown a persistent decline in funding to Black-founded companies that outpaces the overall decline in startup funding. One has to wonder if the abundance of caution that’s now prevalent in the industry has prevented investors from taking chances on first-time founders who are more likely to be diverse,” she said.

The latest numbers suggest that investor interest in Black-founded companies may be improving compared with recent years. Still, analysts caution that the ecosystem remains vulnerable if funding growth depends on a handful of large transactions rather than expansion of investment opportunities.

RELATED CONTENT: Launch Your Startup The Right Way in 5 Easy Steps

• Diversity, Equality, Inclusion

by Sidnee Michelle

June 4, 2026

Defense Secretary Hegseth’s Scrutinized For Blocking Navy Promotions, Sparks Major Diversity Concerns

According to the outlet, Hegseth blocked the promotions of several diverse Navy captains recommended for elevation to rear admiral.

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Defense Secretary Pete Hegseth is facing renewed criticism after reports that he personally removed several officers from a Navy promotion list. This decision disproportionately impacted women and Black service members, raising concerns about political influence in military advancement, The New York Times reports.

According to the outlet, Hegseth blocked the promotions of several Navy captains recommended for elevation to rear admiral. The updated list reportedly included no women and only two nonwhite officers among 22 nominees.

Current and former defense officials described Hegseth’s intervention as unusual. They noted that promotion recommendations typically go through military channels before reaching ‘civilian leaders’ for approval. Hegseth’s opponents argue that this change raises questions about whether race or gender influenced the decision-making process.

The Pentagon has rejected these claims.

In a statement posted on X, the Defense Department said, “The era of promoting based on race and gender is over at the war department.” The statement added that promotions would be based on “merit, qualifications and performance, not identity.”

The era of promoting based on race and gender is over at the War Department.

We promote based on merit, qualifications, and performance—not identity.

It’s simple: the most qualified people get the job and earn the promotion. https://t.co/LhEI3obCm0

— DOW Rapid Response (@DOWResponse) June 2, 2026

This controversy arises amid a broader restructuring effort under Hegseth, who has repeatedly pledged to eliminate diversity, equity, and inclusion initiatives in the military. Since taking office, he has overseen the removal or reassignment of numerous senior military leaders, including several women and minority officers.

The latest move mirrors a recent controversy involving Hegseth, who previously halted the advancement of four Army colonels selected for promotion to one-star general, MS Now reports. The group included two women and two Black men.

Democratic lawmakers and some military personnel warn that such actions could undermine trust in the armed forces’ promotion system and affect retention among qualified officers. Sen. Jack Reed has previously expressed concern that repeated interference in personnel decisions could discourage future military leaders.

“You are hollowing out the military’s bench of experience and highest-performing senior officers, while making young officers wonder if they should continue to serve,” he said at a recent hearing.

The Pentagon insists that the promotion decisions were based solely on qualifications and performance. However, these latest changes have intensified the debate over the administration’s approach to diversity policies and leadership selection within the U.S. military.

RELATED CONTENT: U.S. Navy Lifts Ban on Dreadlocks and Other Hairstyles

• Education

by Sidnee Michelle

June 4, 2026

Michelle Obama Surprises Maryland Graduates After Viral Student Campaign

It fulfilled a goal that seniors had pursued through a social media campaign shared widely during the school year

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Former first lady Michelle Obama surprised graduates at Bethesda-Chevy Chase High School with a virtual commencement message on June 1. This followed months of student-led efforts to get her to participate in the ceremony, Bethesda Today reports.

The video was shown during the graduation ceremony in Montgomery County, Maryland. It fulfilled a goal that seniors had pursued through a social media campaign that was widely shared during the school year. Students repeatedly posted videos and messages asking Obama to be their commencement speaker.

In her message to the Class of 2026, Michelle Obama congratulated the graduates and encouraged them to stay resilient as they enter the next stage of their lives.

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A post shared by B-CC ‘26 SGA (@bccsga26)

“You all have so much to be proud of,” Obama told the graduates. “We need your heart, your ideas, your optimism, more than ever. Participation in our democracy is the only way to build a community and a country that reflects who you are and what you believe.”  

Her surprise appearance capped a month-long campaign launched by students at Bethesda-Chevy Chase High School. They turned to social media in late 2025 to attract Obama’s attention. Videos featured student organizations, athletic teams, and classmates collectively asking the former first lady to give their commencement address. The effort gained both regional and national attention.

Although Obama did not attend the ceremony in person, students received the recognition they had sought. This offered graduates a personalized message from one of the nation’s most recognizable public figures.

School officials and graduates viewed her appearance as the result of an unusual grassroots campaign that showed the power of student engagement and persistence. The virtual address added a memorable touch to graduation day and recognized the seniors’ months of advocacy, organization, and outreach.

RELATED CONTENT: Michelle Obama Praises Angel Reese For ‘Carrying Herself’ Well

• Business

by Selena Hill

June 4, 2026

Slutty Vegan To Expand In Atlanta And Washington, D.C. With New Franchise Deals

Pinky Cole’s plant-based burger brand announced new franchising and strategic partnerships as it enters its next chapter

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Just months after Slutty Vegan Founder Aisha ‘Pinky’ Cole Hayes filed for Chapter 11 bankruptcy protection, the plant-based burger empire revealed plans to expand through new franchise agreements in Atlanta and Washington, D.C.

The Atlanta-based vegan fast-food chain announced it has signed franchise deals in both markets, marking a significant milestone in the company’s transition to a franchise-led growth model. The move comes as the brand seeks to rebuild and scale following a turbulent financial period that included corporate restructuring, store closures, and bankruptcy proceedings, reports 11Alive.

According to a company statement, Cole Hayes said the company is prioritizing partners who not only have business experience but who are also familiar with the cultural identity and impact of the Slutty Vegan brand. Franchise veteran Brandi Forte will lead development efforts in Washington, D.C., a market Cole views as a strategic fit for the brand’s mission and customer base.

“I was intentional about partnering with operators who understand our business and the culture,” Cole Hayes said in a statement, reports WSB-TV Channel 2 – Atlanta.

Franchisees Khadejah Davis and Jamel Douglas will open and operate a new location in Atlanta, becoming the first official Slutty Vegan franchise owners in the restaurant’s hometown. The business partners currently operate Juici Patties locations and have experience scaling restaurant brands, the company said.

“Atlanta is where Slutty Vegan was born, and we’re planting deeper roots here while establishing our presence in D.C.,” Cole Hayes said. “This is bigger than the burgers. We’re creating opportunity and legacy.”

Founded in 2018, Slutty Vegan grew from a food truck into one of the nation’s most recognizable Black-owned restaurant brands. The company became known for its plant-based burgers with provocative names and its ability to attract both vegan and non-vegan customers. At its peak, the brand operated 14 locations around the country and reportedly achieved a valuation of approximately $100 million. However, rapid growth also brought financial challenges.

In March, Cole Hayes filed for Chapter 11 bankruptcy, citing debts that included more than $1.2 million owed to the U.S. Small Business Administration and nearly $192,000 in state tax obligations. Despite the filing, Cole has publicly framed bankruptcy as a business tool for restructuring rather than a sign of failure.

“People think that bankruptcy is a bad thing. It is a tool. People use it all the time, so I am tapping into the tool. And I pray that tapping into this tool will relieve me of some of the responsibilities from a company that I no longer own,” Cole Hayes told Page Six.

She added that her business challenges have only made her stronger.

“I’ve made the Time 100 list, the Forbes 1000 list, twice the cover of magazines. I’ve did all of the things. So just because you see bankruptcy and just because you see a little bit of breakdown, don’t ever erase the history of being that girl,” she said.

RELATED CONTENT: Pinky Cole’s Former CFO Indicted on Theft, Forgery, and Money Laundering Charges

• Money

by Selena Hill

June 4, 2026

OneUnited Bank Launches ‘Who’s Your Ma Honey?’ Podcast To Help Listeners Turn Shame Into Strength

The new 10-episode series explores how overcoming undeserved shame can unlock entrepreneurship, leadership, and personal growth.

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OneUnited Bank is tackling the silent barrier that often blocks people from fully realizing personal and financial success: shame.

Last month, the bank launched Who’s Your Ma Honey?, a new podcast designed to help guests confront and overcome “undeserved shame.” The 10-episode series premiered May 7 and is now available on YouTube, Apple Podcasts, Spotify, and Audible. Hosted by OneUnited Bank President and Owner Teri Williams and Circle of One Marketing President and CEO Suzan McDowell, the podcast features candid conversations with entrepreneurs, advocates, elected officials, and community leaders who share how experiences of shame ultimately became sources of resilience and empowerment.

According to a statement released by OneUnited Bank, the show aims to uncover “the hidden presence of undeserved shame—the mix of unjustified guilt and unwarranted stigma—to help guests reclaim the source of their ultimate superpower.” The concept aligns with OneUnited Bank’s long-standing mission of promoting financial empowerment and community development.

Through candid conversations with esteemed Black leaders, Who’s Your Ma Honey? seeks to transform painful memories into powerful lessons, demonstrating how adversity can become the foundation for leadership, entrepreneurship, and generational wealth. Season one guests include journalist Karen Hunter, National Urban League President and CEO Marc Morial, activist Sybrina Fulton, Congresswoman Frederica Wilson, Miami-Dade Mayor Daniella Levine Cava, entrepreneur Felicia Hatcher, and BMe Community Founder Trabian Shorters.

The inspiration for the podcast stems from Williams’ own personal journey. Growing up in Indiantown, Florida, she earned a full scholarship to Brown University. As she navigated the transition from a small Southern town to an Ivy League institution, she said she became ashamed of her roots and, in the process, lost touch with the memory of her great-grandmother, Annie Coachman, affectionately known as “Ma Honey.” Coachman was an entrepreneur who owned a penny candy store, juke joint, barbecue pit, and rental properties in the segregated South.

“For years, I lost the memory of my great-grandmother and the impact she had on my life. My memory loss was rooted in shame,” Williams said in a statement. “We all have a Ma Honey; someone or something we’ve been undeservedly ashamed of—that is actually the source of everything we’ve become. This show is about finding that truth, sometimes uncovering it in real time.”

Williams believes reclaiming those formative experiences can help individuals heal emotional wounds while strengthening the resilience needed to build wealth and create lasting opportunities.

RELATED CONTENT: OneUnited Bank President Teri Williams Talks About Homeownership

• Business

by BLACK ENTERPRISE Editors

June 4, 2026

How Sam’s Club CEO Latriece Watkins Became One Of The Most Powerful Women In Business

Watkins, who became president and CEO of Sam's Club in February 2026, debuted at No. 87 on Fortune's 2026 Most Powerful Women

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Just months after taking the helm of Sam’s Club, CEO Latriece Watkins has been recognized by Fortune as one of the world’s most influential business leaders, highlighting a nearly three-decade career that has positioned her at the forefront of one of retail’s largest membership-based chains.

Watkins, who became president and CEO of Sam’s Club in February 2026, debuted at No. 87 on Fortune’s 2026 Most Powerful Women in Business list, which was released May 27. The annual ranking recognizes women shaping major industries across the global economy.

She now oversees a business generating roughly $96 billion in annual revenue and operating 601 locations across the United States. Fortune reports that if Sam’s Club operated as a standalone company, it would rank No. 43 on the Fortune 500, placing it ahead of several major publicly traded corporations.

A lawyer by training, Watkins joined Walmart in 1997 as a real estate intern and spent nearly 30 years advancing through leadership roles across the retail giant. Before assuming her current position, she served as the chief merchandising officer for Walmart U.S., guiding product strategy and merchandising operations.

Reflecting on her career path, Watkins told the site, “I was at a retail company, and I never really knew what we actually did every day,” explaining that a conversation with longtime Walmart executive, former Walmart CEO Doug McMillon, encouraged her to move closer to the company’s core retail operations.

Her appointment also places her in a role that has historically served as a launching pad for some of retail’s most prominent executives. Former Sam’s Club leaders have gone on to lead Walmart, Target, and Walgreens, underscoring the strategic importance of the position within the retail industry.

As Watkins begins her first year leading Sam’s Club, she will guide the warehouse retailer’s next phase of growth and competition in the evolving membership-club market.

RELATED CONTENT: Black Women Redefining Leadership And Ownership As Millennial and Gen Z CEOs