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Michael Jordan is co-owner of a Florida-based dining establishment that could soon expand. The Chicago Bulls legend and billionaire is listed as one of the founding members of 1000 NORTH, a Jupiter, FL-based waterfront private club and fine-dining restaurant that offers a panoramic view of landmarks Jupiter Inlet and Jupiter Lighthouse, Miami New Times reports. The venture is the brainchild of real estate developer Ira Fenton and Tucker Frederickson, a former athlete who played in the NFL. The location offers several separate dining experiences for guests including The Tavern, which offers modern American regional cuisine. The full-service dining room, 1000 North, also offers steaks and fresh seafood. “We wanted to give guests something they can’t find in our area – an experience many people travel to Miami or New York to get,” Fenton said on the company’s website. “We’re bringing that to Jupiter, and topping it off with a beautiful waterfront view of the Jupiter Lighthouse. Those...
Beyoncé has officially reached billionaire status. The Houston-born entertainer and businesswoman has been working professionally since she was a child as a member of Girls Tyme, which later became Destiny’s Child. The group was managed by her father, Mathew Knowles. Parkwood Entertainment Beyoncé has taken greater agency in her career through a slew of moves. In 2010, she launched Parkwood Entertainment, formerly Parkwood Pictures, which is responsible for her music and video production, management, marketing, digital, creative, philanthropy, and record label, Parkwood Music, according to its LinkedIn page. “When I decided to manage myself, it was important that I didn’t go to some big management company,” Beyoncé explained at a Q&A held during a SVA Directors Screening in 2013. “I felt like I wanted to follow the footsteps of Madonna and be a powerhouse and have my own empire and show other women when you get to this point in your career, you don’t have to go sign with someone...
As a child, Oprah Winfrey understood she was destined for greatness. While many are familiar with her industry start as a broadcast reporter turned television host, she initially aspired to be an actress. However, that was frowned upon by her father, she admitted on the “NXT Chapter Podcast,” hosted by Bishop T.D. Jakes. “I had to make a decision. I’m going to go to college , and I’m going to end up, I thought, teaching. I will teach acting,” she explained. She then received a call during her sophomore year at Tennessee State University from a local television station, which she described as being divinely orchestrated. The station learned about her through a competition she had won in Nashville, TN. She was 16 years old at the time and the only Black girl in the contest. At age 17, Winfrey began working as a part-time radio announcer at Nashville’s WVOL Radio Station. She became the city’s youngest and first Black female news anchor at a station, Poynter reports. She later became...
MacKenzie Scott is on an HBCU funding tour. Scott has recently made multiple donations to support Historically Black Colleges and Universities (HBCUs), including two consecutive record-setting donations to Prairie View A&M University ($63 million) and Bowie State University ($50 million). According to press releases, this marked the most significant single contribution in each institution’s history. “Her generosity arrives at a pivotal moment in our 160-year story. It empowers us to expand access, elevate our research and academic excellence, and uplift generations of students who will lead, serve and innovate,” Dr. Aminta H. Breaux, president of Bowie State University, said in a press release. “Higher education is the pathway to upward social mobility for our students and the communities we serve, and, with this gift, their futures are brighter than ever.” Prairie View A&M University President Tomikia P. LeGrande commented: “This gift is more than generous — it is defining and...
South African billionaire Patrice Motsepe has completed another major transaction in the global mining sector. According to Business Insider Africa, Harmony Gold, the mining company supported by Motsepe, has finalized a $1.01 billion acquisition of MAC Copper Limited, the owner of the high-grade CSA Copper Mine located in New South Wales, Australia. The acquisition, which was first announced in May 2025, officially went into effect on Oct. 24 through a Jersey law Scheme of Arrangement. Harmony Gold acquired all of MAC Copper’s securities at $12.25 per share, according to BusinessReport, with the total equity value of the transaction reaching approximately R18.4 billion ($1.01 billion). The deal was financed through a combination of cash reserves and a $1.25 billion bridging facility. For Harmony Gold, this marks a major step in its strategy to diversify beyond gold. The company announced plans to increase copper’s share of its total production to around 40% by 2035, per...
Aliko Dangote, the richest Black man in the world, has reached a new milestone , with a net worth of $30.3 billion, according to the Bloomberg Billionaires Index. Per Business Insider Africa, the feat makes him the first African to achieve this level of wealth, fueled by growth in his cement and oil ventures. Dangote’s wealth increased by $2.16 billion year-to-date, including a recent $430 million valuation gain. His net worth previously stood at $29.8 billion, just $200 million short of the mark, before crossing the threshold in October 2025, Business Insider Africa reports. Cement Expansion Strengthens Dangote’s Holdings Dangote’s latest financial growth is closely tied to the expansion of Dangote Cement, his company’s largest revenue driver, notes Business Insider Africa. The group recently completed a $160 million cement factory in Attingué, Côte d’Ivoire, about 30 kilometers north of Abidjan. Built on 50 hectares, the new facility is set to produce three million metric tonnes...
LeBron James is opening up about his finances. James has a net worth of $1.3 billion — with $900 million attributed to off-court earnings, including his deal with Nike — according to Forbes. However, as the first to establish wealth in his family, he admitted on the “Everybody’s Crazy” podcast — co-hosted by April McDaniel and his wife, Savannah — that it’s not easy to take financial risks when he considers his humble beginnings living in the Akron, OH, projects. “I will take a couple risks on the business side knowing that I can hustle it back or do something else, but also my other side is telling me ‘I’m first generational money maker in my household as far as my family,'” he explained on the podcast. “I always be thinking about where I come from, coming from the projects and in Akron, OH, and not having s—. It’s hard for me sometimes to take risk because if that s— happened or the whole can come off and it’s over with, I’mma be devastated,” he continued. James added that he...
Herriot Tabuteau was supposed to become a doctor, but he decided to launch a billion-dollar business instead. Forbes reports Tabuteau was born and raised in Haiti, and he says his upbringing “taught me resilience.” Though he had been living with his mother, at age 9, he moved in with his father in Manhattan, NY’s Upper East Side. With aspirations of becoming a neurosurgeon, he obtained a biochemistry and molecular biology degree from W esleyan University and was then admitted into Yale University School of Medicine where he received his MD. Tabuteau decided to make a career pivot after observing the “unhappiness” of his physician professors. He went into finance, beginning at Goldman Sachs where he worked in the company’s healthcare investment banking group. Having spent almost two decades in finance, his track record in the industry included time at Bank of America Securities, Healthco/S.A.C. Capital, and managing his own funds, with some of his investments in biotech startups,...
Campus Founder Tade Oyerinde is backed by a group of billionaires looking to disrupt the education system. Campus Oyerinde is the founder of Campus, a two-year accredited school that hires part-time instructors from the top 50 universities nationally and is on a mission to ensure students can receive debt-free education, as AFROTECH™ previously reported. This is made possible through strategic decisions, including providing an education that can often be covered through a Pell grant and offering free laptops and Wi-Fi to most students, as he mentioned on the “Black Tech Green Money” podcast hosted by AFROTECH™ Brand Manager Will Lucas. Of the 2,600 students currently enrolled in the school, which offers associate degrees in areas such as information technology, business administration with applied AI, and paralegal studies, none of the online students have had to take on student loan debt, a feat which Oyerinde says he takes great pride in. “We did not want to add $1 to the pile of...
Tyler Perry says he has done more to support Black talent and generate wealth for his community than Hollywood has. The billionaire made the comments during a speech on Monday, June 9, at the 2025 BET Awards, which celebrated 25 years of Black excellence in entertainment. Legends Jamie Foxx, Mariah Carey, Snoop Dogg, and Kirk Franklin were also honored with the Ultimate Icon Award. The event featured performances from artists such as GloRilla, Leon Thomas III, and Lil Wayne as well. Perry, who has the largest Black-owned studio in America, delivered a powerful message about the resilience of the Black footprint and encouraged attendees to continue striving for excellence. “I have made more Black millionaires — hear me when I say this — than any studio in this city combined because I’m making footprints,” Perry said. “So I don’t care if you’re struggling, if you’re trying to make it, you’re trying to build a business. If you have a dream, keep making footprints.” View this post on...
Bill Gates intends on allocating the majority of his wealth to Africa. As AFROTECH™ previously mentioned, Microsoft founder Bill Gates plans to donate the majority of his wealth by 2045 — an estimated $200 billion. Despite this massive philanthropic effort, he is still expected to remain a billionaire and may even stay the fifth-richest person in the world, BBC reports. “People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” he wrote in a blog post, per BBC. Gates intends to distribute his wealth through his foundation. The original plan was for the foundation to continue operating beyond his lifetime; however, he now has faith in the next generation of wealthy individuals to carry on his efforts, believing they will be better positioned to do so. “At the end of 20 years, the foundation will sunset its operations,” the Gates Foundation said in a statement, per BBC. In the meantime, Gates will focus on using his wealth...
Tesla CEO Elon Musk has acknowledged that the final version of the company’s Full Self-Driving (FSD) technology is not yet ready for public release — and there is no definitive date for when it will be available. During Tesla’s conference call following the release of its Q1 2025 financial results, Musk updated shareholders about the company’s self-driving plans, which he emphasized as essential to Tesla’s future, according to Daily Galaxy. Since 2016, Tesla has marketed vehicles claiming they have the necessary hardware for FSD features — significantly boosting sales of the FSD package — which can cost buyers up to $12,000. However, during the call, Musk said, “We’re going to have to upgrade the Hardware 3 computer” to achieve true self-driving capabilities, the outlet reported. The announcement sparked backlash from customers who felt misled, prompting Tesla to cover the costs of upgrading affected vehicles to the newer Hardware 4 — a move analysts estimate could reach hundreds of...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Billionaire business leaders turned against President Donald Trump as he implemented sweeping tariffs with other countries, which have amounted to billions of dollars lost. Many of the billionaires who have pushed back against the Trump tariffs have also endorsed him for the 2024 presidential election. One of those billionaires, Bill Ackman, warned against tariffs, likening them to an “economic nuclear war” in a post on X (formerly known as Twitter). He also claimed that the tariffs weren’t what he voted for, despite Trump speaking on tariffs early on in the election. How Will Tariffs Affect The American Consumer? Unwarranted tariffs will not only decimate our economy but also hurt our already fragile standing on the world stage. In retaliation, China has raised tariffs on American goods to 125%. Most business leaders, economic experts, and other world leaders are confused over Trump’s misguided...
In a political landscape where economic promises often shift with the news cycle, one topic has managed to grab headlines and public curiosity alike: DOGE checks. Tied to the Department of Government Efficiency (DOGE) — an initiative linked to Elon Musk and President Donald Trump’s administration — the proposed stimulus would direct billions in alleged government savings back to American taxpayers. But is this an actual policy shift or a high-profile thought experiment? Here’s what we know. What Are DOGE Checks? DOGE checks are a proposed stimulus payout drawn from cost-cutting measures implemented by DOGE. Since its launch in January, DOGE claims to have saved the federal government $130 billion by downsizing federal agencies and eliminating redundancies. According to Newsweek, the Trump administration has set a $2 trillion savings goal, with the potential for Americans to receive direct financial benefits from these efforts. The term “DOGE checks” gained traction following a...
Former NBA athlete Junior Bridgeman is now a billionaire. From NBA Player To Successful Businessman Bridgeman was among the 1975 NBA Draft class and was selected in the first round as the eighth pick by the Los Angeles Lakers, notes Basketball Reference. He was soon traded to the Milwaukee Bucks as part of a deal to bring Kareem Abdul-Jabbar to the Lakers. He went on to play with the Bucks until 1984 before spending two years with the Los Angeles Clippers. Bridgeman returned to the Bucks for his final season in 1986-87, according to ESPN. His starting salary in the league was two payments totaling $140,000, but he only saw $55,000 due to taxes and agent fees. Over his 12-year playing career, he earned $2.95 million and never made more than $350,000 in a single season. When Bridgeman retired from the league in 1987, he had already considered a roadmap for his post-career as a businessman. Forbes notes that he received guidance from former Milwaukee Bucks owner Jim Fitzgerald, who...