Forbes
Crypto billionaires lost $116B since March: Report
The bear market and the wave of bankruptcies in the crypto industry drained $116 billion from the pockets of founders and investors in the past nine months, according to recent estimates by Forbes. The loss represents the combined personal equity of 17 people in the space, with over 15 losing more than half of their fortunes since March. As a result, 10 names were removed from the crypto billionaires list. One of the major losses was attributed to Binance CEO Changpeng “CZ” Zhao. In March, his 70% stake in the crypto exchange was valued at $65 billion, but it is now worth $4.5 billion. Coinbase CEO Brian Armstrong has a net worth estimated at $1.5 billion, down from $6 billion in March. The fortune of Ripple’s co-founder Chris Larsen was reduced from $4.3 billion to...
Megan Thee Stallion Becomes The First Black Woman To Grace The Cover of Forbes’ ’30 Under 30′ Annual List
HipHopWired Featured Video Source: Kevin Winter / Getty/ Megan Thee Stallion Megan Thee Stallion can cross another accomplishment off her list. The Houston rapper made history by becoming the first Black woman to grace the cover of Forbes’ annual 30 Under 30 list. Despite her label, 1501 Certified Entertainment being a constant thorn in her side, Megan Thee Stallion managed to pull in an estimated $13 million in 2022. The rapper’s still-growing fortune can be attributed to her endorsement deals. The financial bible cites her working relationships with billion-dollar brands like Nike, Revlon, Cash App, Popeyes, and Flamin’ Hot Cheetos as big contributors to that $13 million. That makes perfect sense, as well as dollars and cents, because you couldn’t turn on the television or hop on y...
Kygo Revealed as Headliner of Forbes’ Under 30 Summit Music Festival In Detroit
Kygo has been announced as the headliner of the Forbes‘ 2022 Under 30 Summit music festival. The fest will take place virtually and in-person in Detroit between October 2nd and 5th at the Detroit Opera House. It’s renowned for drawing some of the biggest names in contemporary music, such as The Chainsmokers, Jack Harlow, Billie Eilish, and Megan Thee Stallion, among others. This year’s event, however, is a bit different. It’ll include a performance from prodigious bass player and indie-pop star Blu DeTiger, who’s set to embark on her North American headline tour this fall. Meanwhile, Kygo announced that he has a new album in the works back in August. Scroll to Continue Recommended Articles “I’m working on a lot of music,” Kygo said ...
Rare Air: LeBron James Joins Michael Jordan As The NBA’s Only Billionaires
HipHopWired Featured Video CLOSE Source: Kevin Winter / Getty Lebron James will now be called Billionaire Bron from now on. The financial bible Forbes reports that LeBron James is now a billionaire. The achievement makes James the first active NBA player to accomplish the milestone while still actively playing. He also joins his idol Michael Jordan as one of the NBA’s billionaires. Rare air indeed. LeBron James has the GOAT beat in this department because he accomplished it quicker. Michael Jordan didn’t achieve billionaire status until 2014, over a decade after he decided to hang up his Air Jordans. According to Forbes, the Los Angeles Lakers All-Star and future first-ballot Hall-of-Famer reached billionaire status after he “maximized his business” by generating more than $1.2 billion in ...
Is MTN Africa’s Best Employer? Forbes Thinks So
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Manchester United reluctant to pay up for Alex Telles
Manchester United are reportedly struggling to see eye to eye with FC Porto over a transfer fee for Alex Telles as negotiations trudge on. The superb Brazilian is believed to be up for the transfer but a lack of progress has seen fans lose hope over the deal. Fans recognise what Telles can bring to United and are keen to see his attacking prowess at Old Trafford. However, until both the clubs can agree on a fee then it’s likely the deal will fall through in a similar way to Sergio Reguilon. It’s believed Ole Gunnar Solskjaer has a third left-back in mind should such a scenario occur but supporters will not be pleased with missing out on yet another player. According to Forbes, the Red Devils are trying to haggle with Porto because they’re not happy to spend £18m on a player whose contract ...
Billionaire Business: Tyler Perry’s Fortune Estimated At $1B
Source: WENN/Avalon / WENN Tyler Perry and his rise to fame is a modern-day rags to riches story for the ages, and he’s given back countless times over to other Black creators such as himself. It was announced this week that Perry’s fortune was estimated at $1 billion, making him one of the most powerful men in show business. In a profile from Forbes, Perry, who turns 51 later this month, invited the publication on the set of his sprawling Tyler Perry Studios set as he directed an episode of the BET series, Sistas this past July in Atlanta. The publication mentions that Perry has earned around $1.4 billion in pretax income since 2005 and has leveraged his savvy to secure a high-profile deal with ViacomCBS that earns him $150 million annually for content development and a stake in the new B...
Angola mulling arrest warrant for Isabel dos Santos – prosecution
Angola’s attorney general said on Thursday that he did not rule out issuing an international arrest warrant against billionaire businesswoman Isabel dos Santos, suspected of corruption in her native country and Portugal. “We are working in cooperation with the Portuguese authorities. And if the need arises… to get to that point, we will see how to proceed,” Helder Pitta Gros said in response to questions at a press conference in the capital Luanda. “These are procedural issues, (and) as you can imagine I cannot say more about a process that is under way. We are working on it,” he said. Dos Santos, 47, described by Forbes as the wealthiest woman in Africa, is accused of diverting billions of dollars from state companies during her father Jose Eduardo dos Santos’s near four-decade rule of th...
Steve Aoki Partners with Forbes and Quicken Loans for Detroit COVID-19 Hackathon
While COVID-19 has made it difficult to host large-scale, in-person hackathons, Forbes and Quicken Loans have teamed up for a four-week virtual event. Created for those under thirty years of age, the “Detroit Hackathon: Accelerating Change” will bring some of the brightest minds in Motor City together in an attempt to create the next innovative solution to problems caused by the ongoing pandemic. Attendees will be able to receive mentorship from some of the finest in both technology and business. Included in the program is Quicken Loans’ CEO, Jay Farner, fashion designer and CEO of her eponymous company, Tory Burch, and Instagram co-founder Kevin Systrom, among others. Particularly exciting for those who love EDM is Steve Aoki, who has b...
Forbes removes Kylie Jenner from billionaires list
Kylie Jenner has been removed from the list of billionaires by Forbes on Friday. The Reality Tv star, Make-up business mogul, and influencer has been accused by Forbes of inflating the size of her business and success. Forbes on its website has reported that Kylie has been lying about company figures and forging tax returns’ to reach the billionaire status. They accused the family of creating a ‘web of lies’. Kylie Cosmetics is “significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe,” Forbes has reported after seeing filings released by publicly traded Coty over the past six months. The Make-up mogul in November 2019 sold 51 per cent of her Kylie Cosmetics to beauty giant Coty in a deal valued at $1.2 billion i...
Naomi Osaka overtakes Serena Williams as world’s highest-paid female athlete
Japanese tennis star Naomi Osaka has become the world’s highest-paid female athlete, making US$37.4 million (S$50 million) in the past 12 months for an earnings record, Forbes magazine reported on Friday. The 22-year-old Asian star, a two-time Grand Slam champion, edged US rival Serena Williams by US$1.4 million in prize money and endorsement income over the past year. Both shattered the old single-year earnings mark of US$29.7 million set in 2015 by Russia’s Maria Sharapova, who retired in February with five Grand Slam titles, including a career Slam. “To those outside the tennis world, Osaka is a relatively fresh face with a great back story,” University of Southern California sports business professor David Carter told Forbes. “Combine that with being youthful and bicultural – two attri...
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