Gen X is driving global consumer spending estimated to reach $23 trillion by 2035, making them the most powerful spending group through 2033 despite representing only 17% of the population. They hold significant financial leverage, including high home ownership, assets, and disposable income.
America’s Black billionaires represent an array of industries and business ventures, the bulk of their wealth came from the sports or entertainment industries. The people on this list are worth $54.9B combined.
Art collectors are adjusting their investment strategies downwards because of the unpredictable and ongoing economic changes. 2023 saw them slash their investment portfolios to 19% from 24% in 2022. This takes a toll on the already declining Black artists’ representation in global auction sales which currently stands at at 1.9% from 2008 to mid-2022.
Hip-hop icon Eve is parting ways with her music catalog for an eight-figure deal, in the ballpark between $25 million and $50 million
Welcome to CultureBanx, where we bring you fresh business news curated for hip hop culture!
