Black women make up less than 10% of the U.S. population, but they’ve emerged as the fastest-growing group of entrepreneurs, new research from GoDaddy has found. The number of Black women-owned businesses in the U.S. was trending upward even before the Covid-19 pandemic, which accelerated entrepreneurship overall. Between 2017 and 2020, the number of Black women-owned businesses increased by nearly 20%, far exceeding the growth of women-owned businesses and Black-owned businesses overall, the Brookings Institution reports. “To me, the rise of Black women entrepreneurs means we’re starting to believe in ourselves more, that we’re finally recognizing how limitless we are,” says Joy Ofodu, who…
Author: Olivia Parker
“Shark Tank” star Daymond John is looking to give Black business owners a boost for the fourth year running. The FUBU CEO’s Black Entrepreneurs Day, billed as a celebration of Black business, will return Nov. 1. The event will feature a lineup of celebrity guests such as Whoopi Goldberg and Shaquille O’Neal and insights from top Black business leaders. Eight winners of a $25,000 entrepreneurship grant will also get the opportunity to appear alongside John during the event. The event will take place at the Apollo Theater in Manhattan and will also be broadcast online via livestream. This year marks…
British technology entrepreneur Mike Lynch was acquitted of fraud charges in June in a landmark trial over allegations made by Hewlett Packard that he had artificially inflated the value of his company when he sold it to the U.S. enterprise tech giant for $11.7 billion in 2011. Just two months after his acquittal, Lynch — who was once lauded by the U.K. national press as “Britain’s Bill Gates” — was reported missing Monday after the sinking of a superyacht off the coast of Sicily. The yacht, called the Bayesian, capsized at around 4 a.m. local time while anchored off the coast of…
Building a $1 million nest egg may seem an impossible feat. However, amassing such retirement wealth is within reach for almost anyone — provided they take certain steps, financial advisors say. “You might think that, ‘Well, I have to become a Silicon Valley entrepreneur to become rich,’” said Brad Klontz, a financial psychologist and certified financial planner. In fact, you can be a fast-food worker your whole life and amass wealth, said Klontz, a member of the Financial Advisor Council and the CNBC Global Financial Wellness Advisory Board. The calculus is simple, he said. Every time you’re paid a dollar, save and invest…
One simple skill can help you succeed — in business, relationships or anything else — more than nearly any other, says billionaire entrepreneur Ron Shaich. Simple, though perhaps not easy: You need to be able to combine long-term vision with short-term execution. “You have to be both strategic and detailed,” says Shaich, 71, the Panera Bread co-founder who sold that business for $7.5 billion in 2017 and is now chairman of multiple restaurant chains including Cava and Tatte. “The real key in running and building [a business] — in doing almost anything — is to actually be able to operate on multiple…
Elon Musk has done it again! The billionaire entrepreneur and Twitter (X) meme king recently made waves with a new concept: Doge Dividend Checks. The idea? Every American gets a $5,000 check courtesy of the newly proposed Department of Government Efficiency (DOGE). But is this just another Musk-fueled internet fever dream, did he really find that much inefficiency he can send every American $5,000, or is there some truth to the hype? Let’s break it down. What Are Doge Dividend Checks? Musk’s recent note about “Doge Dividend Checks” went viral after he suggested that the U.S. government could afford to…