Black Executive & Entrepreneur News

Black Billionaire Oprah Winfrey Snubbed by French Luxury Store

Luxury store Hermes apologizes to Oprah Winfrey for turning her away from one of its Paris boutiques last week, saying it was closed for a public relations event when she came knocking. Winfrey and friends unsuccessfully tried to...

Oprah Tops Celebrity 100 List 2005

Forbes Magazine released its annual ranking of the 100 most powerful celebrities. For the first time Oprah Winfrey tops that list. She is accompanied by 14 other black celebrities who earned a combines $628 million last...

Michael Jackson acquitted but can he save his empire

Michael Jackson was acquitted on all charges that he sexually molested a 13-year-old boy in 2003.Now that he is cleared of these charges one of the first things he must do is get his business and financial affairs in...

Jay Z The Richest Man In Hip Hop

Jay Z has been named the wealthiest man in Hip-Hop, he is said to be worth $320 million, following the sale of Roc-A-Fella Records to the Universal Music Group.Jay responded to the news by saying, "It's all in the plan. I...

Usher's Empiring Building 101

Usher is expanding his business by launching a clothing line which will be styled on the formal designs of Prada, Gucci and Roberto Cavalli.

The line will be available by 2006 according to Usher, whose goal is to create an...

Want to be Jay-Z's intern?

Jay-Z, in conjunction with Reebok and the S. Carter Academy is offering one qualified applicant an internship position at Def Jam Records where Jay-Z serves as president. The internship program with Def Jam Records is designed to...

Def Jam Enterprises Launches Def Jam Mobile

Def Jam Enterprises which is owned by serial hip hop entrepreneur Russell Simmons and co-founder Lyor Cohen, has Launched Def Jam Mobile in partnership with AG Interactive, the new media subsidiary of greeting card giant American...

Russell Simmons starts personalized mobile content venture

AG Interactive and Urban Trend setter Russell Simmons form joint venture to Bring Hip Hop Culture to a Wireless Generation. Def Jam Mobile will provide personalized mobile content ranging from messaging and ring tones to...

Radio One $150 Million Stock Buyback

Radio One Inc., the company founded by Catherine L. Hughes said Monday that its board authorized the repurchase of up to $150 million Class A and Class D common shares over the next 18 months.

Radio One shares traded up 27...

Chappelle's Show: Season 2 Uncensored DVD brakes sales records

"The Chappelle's Show: Season 2 Uncensored" DVD has broken both the first day and seven-day sales records for TV on DVD titles with close to 500,000 units sold on its May 24 release date and over 1.2 million units sold during the...

Sean Combs $3 million ProActive pay day

Sean Combs was reportedly paid $3 million to appear with Jessica Simpson in an advert for acne medication ProActive. An insider tells gossip site PAGESIX.COM, that Mr. Combs drives a hard bargain.

In other Combs news it appear...

Robert Johnson steps down as CEO of BET

BET founder and CEO Robert Johnson, America's first black billionaire, announced Thursday that he will step down in January 2006 from the cable channel he launched 25 years ago.

Johnson will vacate his CEO role effective...

Russell Simmons selling 13-room penthouse in Manhattan's financial district

Forbes.com reports that entrepreneur Russell Simmons has put his 13-room 9,000 square feet penthouse in Manhattan's financial district on the market for $11 million, twice as much as he orginally planned to sell it for four years...

HBO orders nine episodes of Sean Combs produced comedy series

The series which will be taped at the Brooklyn Academy of Music in New York and hosted by Doug E. Fresh, will showcase young urban comedians. Combs will make at least one appearance in each episode.

The series premiering June 10...

Sheila Johnson first black female pro-sports team owner

Sheila Johnson co-founder of BET and the ex-wife of Robert L. Johnson, has become the first black female owner of a professional sports team. The WNBA's Washington Mystics were sold Tuesday to a group headed by...

Will Smith, Jay-Z back Brooklyn-based beauty line

Will Smith, Jada Pinkett Smith and Jay-Z are among the big-name investors in a Brooklyn-based beauty line called "Carol's Daughter" founded by Lisa Price. The group of movie and music stars invested $10 million in the Brooklyn...

Magic Johnson to build $165-million luxury condominium

A partnership comprised of Canyon-Johnson Urban Funds, an investment concern started by Magic Johnson and the Dermot Co., a private developer based in New York City, has acquired Brooklyn's tallest building, from HSBC.

The...

Mutual Exploitation - Hip Hop and Main Stream Corporations

On Apr. 7 a group of Hip Hop artist took the stage at Manhattan's Dodger Stages, for a select audience of about 50. This wasn't a VIP concert however. The artist, Ludacris, Big Boi, and Jermaine Dupri where there to tell...

Michael Lee-Chin rumored to be buying $23.4 million mansion

Forbes.com reports that billionaire Michael Lee-Chin, chairman and chief executive of Ontario-based mutual fund firm AIC Limited has shown interest in the 26,000 square feet Oakville mansion which sits on an eight-acre spread....

Morgan Freeman wins fight over morganfreeman.com

Oscar-winning actor Morgan Freeman has won his cybersquatting battle over the Internet domain name www.morganfreeman.com. A United Nations arbitration panel ordered the transfer to the Oscar-winning star, after he complained it...