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MacKenzie Scott has built a reputation for her generosity, reportedly donating roughly $7.2 billion in 2025 alone — including well over $1 billion to Historically Black Colleges and Universities (HBCUs). Despite her significant contributions and ongoing philanthropic work, Scott’s name was notably absent from the Chronicle of Philanthropy’s latest ranking of top donors. According to the International Business Times (IBM), limited public disclosure around her philanthropy played a key role in her omission. Scott, her representatives, and Yield Giving — the organization that oversees her donations — declined to provide sufficient information about donor-advised funds to meet the publication’s inclusion criteria, the outlet notes. “MacKenzie Scott is among the notable absences on the Philanthropy 50 list,” The Chronicle said, per IBM. “While it is possible she made gifts to her donor-advised funds that would have earned her a spot on the Philanthropy 50, she and her representatives...
MacKenzie Scott has donated a substantial amount to HBCUs. Scott is the ex-wife of Amazon founder Jeff Bezos and received a nearly 4% stake in the company after they divorced in 2019, according to Bloomberg. Forbes estimates Scott’s net worth today to be $29.8 billion , and she has been committed to giving away at least half her fortune, as evidenced by the Giving Pledge she signed on May 25, 2019, as AFROTECH™ previously reported. One of Scott’s philanthropic areas of focus has been Historically Black Colleges and Universities (HBCUs). In March, Elizabeth City State University (ECSU) received a $42 million donation from her. According to a press release, this was the largest dollar-per-student-enrolled gift for any HBCU and nearly tripled a previous donation from Scott in 2020. “I want to express our deepest gratitude to MacKenzie Scott for this remarkable act of generosity and for her recognition of the critical role that HBCUs play in expanding opportunity and strengthening...
LeBron James’ restaurant, Buckets, had its grand opening. LeBron James has always been known for giving back to his hometown of Akron, OH. However, the billionaire athlete’s latest business venture is fostering an even stronger sense of family and community in the Ohio city. On April 1, the LeBron James Family Foundation officially opened Buckets, a comfort food restaurant featuring large buckets of fried chicken, according to a press release shared with AFROTECH™. The restaurant staff is hired from participants in the nonprofit’s I PROMISE Program, an initiative that supports at-risk students in the Akron public school system. Buckets invited influencers to try the menu a week before its grand opening, garnering positive feedback. Videos on social media gave a sneak peek of unique dishes, including macaroni and cheese, collard greens, and wings with ten different sauce options, notes the press release. The 23-year NBA veteran expressed his excitement in Wednesday’s press release....
Jay-Z is demystifying the perception of billionaires. As AFROTECH™ previously reported, the rap mogul out of Brooklyn, NY, was crowned Hip-Hop’s first billionaire in 2019 by Forbes. His net worth has more than doubled since that year, through ventures that include his stake in the cognac brand D’Ussé. He sold 25% of that stake to Bacardi in 2023, according to GQ. He told the outlet that he received $750 million in cash as a result. “I took 750m CASH, for 25 percent of my D’Ussé stake. Meaning my half is 1.5b. And the full enterprise was valued at 3b (they told me it was [worth] considerably less. My reply was ‘I’ll buy your stake at that price,’” he mentioned. Jay-Z also sold 50% of his spirits brand, Armand de Brignac, to LVMH in 2021, per the BBC. His investment portfolio also includes TIDAL and stakes in Block and Uber, according to Forbes. He is also the co-founder and chairman of Roc Nation. This full-service entertainment company supports its clients with artist management,...
MacKenzie Scott is continuing her support of Historically Black Colleges and Universities (HBCUs) with the donation of $42 million to Elizabeth City State University (ECSU). ECSU Chancellor S. Keith Hargrove Sr. announced the gift on Friday, March 13, 2026, during the university’s Founders Day Convocation, which marked 135 years since its founding in 1891. The institution has long been committed to expanding access and opportunity through its mission to educate, empower, and elevate, according to a press release. “I want to express our deepest gratitude to MacKenzie Scott for this remarkable act of generosity and for her recognition of the critical role that HBCUs play in expanding opportunity and strengthening communities,” Hargrove said in a statement. “Her investment affirms what we already know: that institutions like ECSU are powerful catalysts for change.” How MacKenzie Scott’s $42M Gift Will Benefit ECSU The gift marks the largest per-student donation among HBCUs in Scott’s...
Dr. Dre is officially a billionaire. Forbes released its World’s Billionaires List for 2026, which includes 3,428 entrepreneurs, investors, and heirs. This is 400 more than in 2025, setting a new record. In total, the net worths of those listed reached $20.1 trillion, $4 trillion more than in 2025, setting another record. Forbes attributed AI as a factor for the increase in billionaires. “It’s the year of the billionaire,” said Chase Peterson-Withorn, a senior editor at Forbes, according to Variety. “The planet added more than one billionaire per day over the past twelve months as the AI-powered stock market boom boosted fortunes to previously unimaginable heights.” Additionally, the U.S. had the most billionaires, with a record 989, notes the outlet. Among those listed are Jay-Z and Rihanna. Newcomers to the list include Beyoncé — named a billionaire in December 2025, as AFROTECH™ previously reported — and Dr. Dre , a founding member of the Hip-Hop group N.W.A. He previously...
Beyoncé Knowles may be a superstar, but she understands she’s not above losing. In a video on YouTube labeled “Self-Titled: Part 2. Imperfection,” the Houston-born singer admitted she didn’t have measured expectations around losing at the start of her career. Before Destiny’s Child, Knowles was part of Girl’s Tyme. When Knowles was nine years old, the group performed on a show called “Star Search.” She admitted in the video that, at the time, her dream was to win the show and land a record deal; losing was never an option. “At the time, you don’t realize that you can actually work super hard and give everything you have and lose. It was the best message for me,” she expressed in the video. “The reality is: sometimes you lose. And you’re never too good to lose. You’re never too big to lose. You’re never too smart to lose. It happens. And it happens when it needs to happen, and you have to embrace those things,” Beyoncé added. Beyoncé learned to become resilient, and is now the most...
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,...