Author: Sabrina Lynch

Black consumers are not shy when it comes to purchasing beauty products that take prime place in their self-care routines. However, despite accounting for more than 11% of beauty customers throughout the country, Black-owned beauty brands account for only 2.5% of total revenue accrued from the industry. Given that 11.1% of beauty sales comes from the pockets of Black Americans, this is not a good look considering the $2.6 billion opportunity that’s being slept on by not addressing the beauty industry’s racial inequity.

Non Fungible Tokens (NFTs) will soon change the financial futures for Black creators. Technology studio Mythical Games has raised $75 million to create a product where in-game avatars, in an open- world, will become NFTs. This recent news has given license to Black gamers in the digital gaming industry that’s hit a $127 billion market size, to have more autonomy to accrue financial wealth and independence from video game publishers.

The pay gap between white influencers and BIPOC alone is an unmerited 29%, and there is no reason for this discrepancy beyond tokenism that suited the corporate agenda in 2020. Additionally, no business seeks to be labelled as ‘siding’ with social media platforms who are practicing shadow banning of non-white creators. Black creators know their gravitas, and yet are continually having their value undermined, leading to them to cancel the same social media platforms who are dependent on their content to fuel growth with the influencer marketing sector expected to reach $15 billion by 2022.

There’s a new private equity team in town with Black ownership at the forefront with Don Cornwell, Partner at PJT partners and Jonathan Nelson, Founder of Providence Equity Partners. Their new sports equity firm ‘Dynasty’ will specifically invest in professional teams across the world, along with increasing minority investments in sports teams, giving Black business leaders a one-up in a highly competitive industry. The firm is aiming to raise more than $1 billion for their fresh financial endeavor, having already achieved a first by making Cornwell the first Black co-owner of a sports-focused private equity fund.

Black-owned businesses and their finances were disproportionately impacted by COVID, but now the tides are turning as this demographic is utilizing the technologies behind blockchain to own the cryptocurrency market.Just under one in four, about 23%, of Black people own this cache currency, compared to 11% of White Americans, and 17% of Hispanics. Last year, approximately 13% of Black households in the U.S. were unbanked which left them financially vulnerable. Cryptocurrencies offer a new decentralized financial model allowing Black communities to grow their own wealth, after being ostracized for so long from traditional banking institutions.

The impact of COVID–19 caused immense financial distress for small businesses across the country, particularly African American entrepreneurs, who were one of the hardest hit groups at the beginning of the pandemic. However, the tides have turned as the number of Black business owners continues to rise, skyrocketing to being 28% higher in Q3 2021 than pre-pandemic levels, compared to 19% of Latino business owners and 5% Asian. This is thanks to a record number of Black female entrepreneurs starting their own enterprises and becoming CEOs of their companies.

By Sabrina Lynch Mythical Games has raised $75M to create a product where in-game avatars, in an open- world will become NFTs Digital gaming industry hits $127B market size, but less than 7% of gamers are people of color Non Fungible Tokens (NFTs) will soon change the financial futures for Black creators. Technology studio Mythical

By Sabrina Lynch Black households have less than one-ten of the wealth white households Housing wealth has increased by $8.2T over a 10-year period Black and Latinx homeowners are once again getting the short end of the deal in the newly revived real estate market. Housing wealth has significantly increased from $15.9 trillion in 2010

By Sabrina Lynch Instagram launched creator tags so that Black and underrepresented creatives receive credit for their content Twice as many white influencers earn over $100K compared to Black influencers Instagram is finally introducing features on its platform for Black and underrepresented creators to receive credit for their content. The new feature will allow creators

By Sabrina Lynch Amazon signed a multi-year licensing deal with Nigerian production company Inkblot Nollywood movies annually generate $600M for the Nigeria’s economy Nigerian production company Inkblot signed a multi-year licensing deal with Amazon (AMZN +0.20%) Prime Video to provide new releases to the video-on-demand platform. The streaming giant is looking to tap into Africa’s

By Sabrina Lynch 1 in 3 African American investors own cryptocurrencies compared to 17% of white investors 25% of millennial millionaires invest their wealth in cryptocurrencies After 100 years of systematic racism, fewer African- Americans are investing in stocks, instead turning to the profitable benefits of cryptocurrency and its decentralized model to bring in the

By Sabrina Lynch Black Influencers are typically paid 35% less than their white counterparts The influencer marketing sector was worth $9.7B in 2020, and is expected to grow to $15B by 2022 The pay gap between white influencers and BIPOC alone is an unmerited 29%, and there is no reason for this discrepancy beyond tokenism

By Sabrina Lynch 23% of African-Americans own cryptocurrency and 44% of investors of color own them as well Cryptocurrency Market Triples in less than a year from $770B to $2.7T Black-owned businesses and their finances were disproportionately impacted by COVID, but now the tides are turning as this demographic is utilizing the technologies behind blockchain

By Sabrina Lynch Rapper Yo Gotti invests in D.C. United Major League Soccer team with a 6% stake at a $750M valuation 20% of of MLS players are African American Hip-hop artist and record executive Yo Gotti is partnering with D.C. business tycoon Eyob Joe Mamo and other executives to buy a minority stake in

By Sabrina Lynch Mythical Games has raised $75M to create a product where in-game avatars, in an open- world will become NFTs Digital gaming industry hits $127B market size, but less than 7% of gamers are people of color Non Fungible Tokens (NFTs) will soon change the financial futures for Black creators. Technology studio Mythical

By Sabrina Lynch 249 craft breweries launched the “Black’ is Beautiful” beer to raise awareness for social injustices African-Americans account for 12% of weekly craft beer drinkers Breweries are throwing the full weight of their beer barrels behind the stand for justice to reach new, conscious consumers. Across the U.S. craft breweries will be launched

By Sabrina Lynch 1 in 3 African American investors own cryptocurrencies compared to 17% of white investors 25% of millennial millionaires invest their wealth in cryptocurrencies After 100 years of systematic racism, fewer African- Americans are investing in stocks, instead turning to the profitable benefits of cryptocurrency and its decentralized model to bring in the

By Sabrina Lynch Google plans to increase its AI team to 200 researchers to avert race discrimination in tech The tech giant fired its second AI Ethics Head over diversity disputes Tech giant Google (GOOG +2.05%) plans to double its Artificial Intelligence (AI) research team to 200 employees, after ousting two female AI experts, Dr.

By Sabrina Lynch Former family office financial Investor Bill Hwang gained $20B and lost it all in 10 days Family offices offer a way for minority-led businesses to grow their assets The implosion of Bill Hwang’s Archegos Capital Management is a case-study in a spectacular fall from grace and failure in modern financial history, among