Black Executive & Entrepreneur News

Columbia Pictures sues Sean Combs' Bad Boy Records

Columbia Pictures has filed a lawsuit against Sean Combs and his Bad Boy Records company in US federal court. The suit alleges that Bad Boy Records owes them $532,000 in unpaid fees for their collaboration on the movie "Bad Boys...

Sean Combs to release US$100 000 limited edition Sean John Lincoln Navigator

The businessman and entertainer will be selling 150 of this limited edition Sean John Navigator which comes with every luxuary you can expect for $100 000. Satellite navigation, crystal champage decanter, six LCD screens, dvd...

Only two blacks on this year's Forbes Worlds Richest People list

The richest black person in the world remains Jamaican born Michael Lee-Chin. The Burlington, Ontario, Canada resident holds the No.243 spot on the Forbes Mazagine list of the world's richest people. His networth is up $100...

Usher part of new ownership group of the CAVs

The Grammy award winning singer is one of the new owners of the Cleveland Cavaliers basketball team. The Cavaliers is home to the NBA's brightest star Lebaron James and was formally owned by businessman Gordon Gund who still...

Danny Glover Starts Movie Production Company

Glover the 58 year old co-star of "Lethal Weapon" setup this company to produce films of historical relevance with a social purpose, reports the AP. Louverture Films, co-founded with producer/screenwriter Joslyn Barnes and...

Jay-Z to open education centre

Def Jam CEO Jay-Z and Reebok has announced plans to open an education centre in New York. The S Carter Academy will open in the spring, and will focus on music, sports and fashion. The centre will be featured in a television...

Lil Jon Crunks Up the Volume Business Week interview

BusinessWeek.com has a interview with producer Lil Jon in its marketing section. Lil Jon speaks about his energy drink Crunk!!!, which is a joint venture with Sidney Frank the billionaire producer of Grey Goose vodka.

Time Inc. to Buy Essence Magazine

Time Inc., the biggest U.S. magazine publisher, is buying 51 percent of Essence Communications, whose women's title Essence is the second-biggest selling black magazine in the U.S. with a circulation of more than 1 million. Time...

Franklin D. Raines leaves Fannie Mae under less than ideal circumstances

Franklin D. Raines one of fortunes magazines 25 most powerful business people and one of just a few African-American CEOs of a Fortune 500 company was forced to resign from Fannie Mae the big U.S. government back mortgage finance...

Four Blacks on TIME/CNN 2004 25 Global Business Influentials List

Twenty-five leaders have been named to TIME magazine and CNN`s annual list of Global Business Influentials. These are business leaders who are setting the new standards for business. There are four black business leaders on the...

Wangari Muta Maathai first African woman to win the Nobel Prize in Peace

Maathai founded the Green Belt movement in Kenya in 1977, which has planted more than 10 million trees to prevent soil erosion and provide firewood for cooking fires. The program has been carried out primarily by women in the...

Michael Lee Chin to establish a multi-billion investment fund for the Caribbean region

Expected to be launched by the second quarter of 2005, the fund will take positions in both new companies and start-ups in the region. AIC , of which Lee-Chin is chairman and a 95 per cent shareholder, would use the investment...

Shawn "Jay Z" Carter is new CEO and President of Def Jam

The Island Def Jam Music Group, a division of Universal Music Group, the world's leading music company, this week announced Grammy Award-winning superstar Shawn "Jay-Z" Carter to President & CEO of Def Jam Recordings. The...

Oprah Winfrey is Biggest African-American philanthropist

Oprah Winfrey is the first African-American philanthropist to make the BusinessWeek Top 50 Philanthropist list. The list is BusinessWeek Magazine annual ranking of America's biggest philanthropist. The no. 1 givers Bill and...

Magic Johnson and Sean Combs tops Inc. Magazine Top 10 Celebrity Entrepreneurs list

Magic Johnson, Sean Combs and Oprah Winfrey are the three blacks on the first-ever ranking of the Top 10 Celebrity Entrepreneurs, by Inc. Magazine.

Roc-A-Fella Records celebrating 10th anniversary

AllHipHop.com reports that Damon Dash kicked offed celebrations for Roc-A-Fella Record's 10 year anniversary at New York University. Dash the CEO of Rac-A-Fella along with Jay Z and Kareem Biggs Burke has turned their company...

Roberts Johnson's Bob Cat plays inaugural season openner

Robert Johnson the founder of BET and the NBA's first black team owner watched his team, the Charllotte Bobcats, play their first regular game last night. "I think these guys are playing hard and they are playing tough."

Patrice Motsepe's Harmony Gold, launched a US $8 billion bid to become worlds largest mining company

Harmony, chaired by businessman Patrice Motsepe, has launched a US $8 billion bid for Gold Fields. Harmony is currently the world's sixth-largest gold miner, and, if it acquires GoldFields, the resulting merged company would...

Damon Dash enters the mp3 player market with Rocbox

News.com reports that in November, Dash will introduce a line of MP3 players under the name Rocbox. "We saw Apple making a killing, and we thought it would be a good market to go after," Dash said in an interview last week. The...

Only one black made this years Forbes 400 list of the richest Americans

Robert Johnson the Chairman and CEO of (BET) Black Entertainment Television. Americas first black billionaire did not make it on to this years ranking of Americas richest people, the Forbes 400. Johnson's fortune...

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