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Black woman-led skincare brand Topicals has closed another round of funding, per an exclusive report from The Business of Fashion. Topicals Founded in 2020 by Olamide Ayomikun Olowe, Topicals was born out of her search for a solution for those with hyperpigmentation, eczema, and dark spots. CNBC reports Olowe also struggled with hyperpigmentation and Pseudofolliculitis Barbae (PFB). Per its website, the Topicals product lineup features its faded under eye masks, serum, brightening cleansing bar, and more. She teamed up with Claudia Teng, who previously worked as a dermatology clinical research assistant, to launch the science-backed brand, with both women ultimately ditching their plans to attend medical school. Topicals later secured $14.8 million in funding before Olowe was 26 years old — as AFROTECH™ previously reported — making history as the youngest Black woman to raise $10 million in funding in 2022. Funding Now, WNBA player Angel Reese, which Forbes lists as one of the...
Lewis Hamilton is one of the highest-paid drivers in Formula 1. As previously reported by AFROTECH™ , the English race car driver entered the sport at 8 years old. Representation was scarce, but the sport gave him a chance to feel accepted. “Being the only Black kid on the circuit, struggling at school, really, always my big drive was acceptance — ‘If I win the race, I will receive that acceptance in this world,’” he told GQ at the time. Hamilton grew up to make history in the sport. He went pro in 2007, at 22, signing with McLaren. In doing so, he became the first Black driver in Formula 1. “When I first started in Formula 1, I tried to ignore the fact I was the first black guy ever to race in the sport,” Hamilton told BBC. “But, as I’ve got older, I’ve really started to appreciate the implications. It’s a pretty cool feeling to be the person to knock down a barrier — just like the Williams sisters did in tennis or Tiger Woods in golf.” Hamilton later signed with the Mercedes...
University of Houston athlete Ramon Walker Jr. is putting his name, image, likeness (NIL) earnings to good use. Walker Jr. has secured a slew of partnerships while playing for the college. According to his Instagram, they include Star Pizza, Daspit Law Firm, Gallery Furniture, The Players Trunk, and BB’s Tex-Orleans. Also listed is Actively Black, a Black-owned apparel brand launched in 2020 by Lanny Smith, as AFROTECH™ previously reported. View this post on Instagram With his earnings, he wants to invest in real estate thanks to his father’s advice, whom he views as a mentor. “My dad always told me, he says, when you have money, you have to let your money make you more money,” Walker explained per PaperCity Magazine. “Just my dad being a mentor to me on that side of things has really helped me. The NIL landscape is crazy now. It’s a huge influx of money. So I’m just trying to do the right things with it to set myself up for later in life, that’s something I’ve been concentrating...
Luol Deng has an impressive real estate portfolio. NBA Career The South Sudan native first generated wealth while playing in the NBA. He was drafted in 2004 by the Phoenix Suns as the seventh overall pick, but was quickly traded to the Chicago Bulls, according to Marca. He went on to play for the Cleveland Cavaliers, Miami Heat, Los Angeles Lakers, and Minnesota Timberwolves across his 15 seasons. He was a two-time NBA All-Star and retired in 2019 with $166.1 million in career earnings, Spotrac reports. Mentorship From Current JPMorgan Chase CEO Jamie Dimon The money is still rolling in for Deng as a result of the seeds that were planted ahead of his foray into the league. Forbes reports that while playing at Duke University, Deng befriended the daughter of JPMorgan Chase CEO Jamie Dimon. That relationship led to mentorship in real estate from Dimon, who at the time was living in Chicago as the CEO of Bank One. Dimon also welcomed Deng to the city after the Chicago Bulls drafted...
Angel Reese admitted that the WNBA doesn’t pay her bills, yet her efforts beyond the court place her among the highest-paid in women’s sports. As AFROTECH™ previously reported, Reese comes from humble beginnings. She shared that she “used to be broke” and would clock in to work at Smashburger before going to practice in high school. Then the name, image, and likeness (NIL) policy, which went into effect in 2021, allowed Reese to find financial security. She secured deals with brands such as Coach, Wingstop, McDonald’s, Raising Cane’s, and Reebok. She transitioned to the pros, signing with the WNBA’s Chicago Sky as the seventh overall pick in 2024. According to Spotrac, she is under a four-year contract worth $324,383, with a base salary of $74,909. In a 2024 live, she admitted her league salary doesn’t cover her bills. “The WNBA don’t pay my bills at all. I don’t even think that pays one of my bills. Literally,” she said in a 2024 live. Partnerships Reese’s business moves off the...
Kevin Durant is making sure the community in which he was raised is a part of his success story. Durant is in his 19th season with the NBA and is reportedly one of the best basketball players to hit the court. This was reflected in his being named to the Top 75 as part of the 75th Anniversary Team in 2021. Durant’s career earnings have surpassed $501 million, according to Spotrac. Off the court, he is signed to a lifetime Nike deal, as AFROTECH™ previously told you. He is also the co-founder of Boardroom, a sports, media, and entertainment brand launched alongside his business partner Rich Kleiman. Additionally, he is a serial investor through his venture capital firm Thirty Five Ventures (35V), which has a portfolio that includes NJ/NY Gotham Football Club of the National Women’s Soccer League, plant-based superfood nutrition company Happy Viking, and health tracking firm WHOOP. 35V’s website states it has invested in more than 100 startups. As his impact grows, Durant is also...
Michael Johnson’s track and field league, Grand Slam Track, has filed for bankruptcy, according to AP News. Grand Slam Track Promises As AFROTECH™ previously reported, Johnson’s love for the sport, which is reflected in his records in the 200- and 400-meter races, also led him into ownership. He secured “the single largest investment in track and field history,” per Sportico, to launch Grand Slam Track in 2024. Johnson intended to ensure athletes could commercialize their rights and promised never-before-seen payouts of $100,000 for the top winners of four meets. A total of $3 million in funding was allocated as prize money for each meet. What Went Wrong In the end, Johnson was unable to keep his word. The league reportedly fell short in compensating athletes and vendors. “Due to our strong desire to make this right as quickly as possible, we offered dated payment timelines and have been unable to meet them,” Johnson confessed in an August 2025 Instagram post. View this post on...
Coco Gauff, the American tennis player and two-time Grand Slam champion, remains a leading figure in sports and business in 2025. For the third consecutive year, she has been recognized as the highest-paid female athlete, according to Sportico. Gauff, who won her second Grand Slam in women’s singles during this year’s French Open, tops the 2025 ranking with an estimated $31 million in total earnings, ahead of rival tennis player Aryna Sabalenka, who earned $30 million. She is also one of only four women to surpass $30 million in a single year, named alongside Sabalenka, Naomi Osaka, and Serena Williams, per the outlet. The annual list reflects continued growth in women’s sports. All 15 athletes on the list, which included Caitlin Clark, Osaka, Simone Biles, and Venus Williams, earned at least $10 million, compared to 11 in 2024 and six in 2023, notes Sportico. Tennis continues to dominate, with 10 of the top 15 earners coming from the sport. As the outlet notes, Gauff’s total...
It’s a family affair over at the Shaq Brand. Walking Away From Reebok As AFROTECH™ previously told you, Shaquille O’Neal had a multi-million-dollar shoe deal on the table from Reebok. However, he walked away from the deal in 1998 to launch an affordable shoe line in partnership with Walmart. This was prompted after a mother told him that his younger fans couldn’t afford his shoes being sold by Reebok . O’Neal recounts on “The Big Podcast” that he went to his mom in hopes she would counter what the woman had said. However, his mother not only agreed but she also reminded him about his hometown of Newark, NJ. “She’s like, ‘Remember, you ain’t never had no shoes that cost more than $40.’ So, I said to myself, ‘All right, I’m gonna start my own line.’ I called Reebok and said, ‘Hey, we’re not going to renew.’ I had like $50 million on the table. I had no idea what I was going to do. So, I was thinking about where do my people go. Walmart. Walmart is the best distribution in the world....
Miami Art Week returns to Miami Beach, FL, from Dec. 1-7, 2025, with Art Basel once again anchoring the citywide celebration and bringing culture, community, and creativity together. Art Basel is a highly anticipated event that unites art lovers, collectors, curators, and artists from around the world, AFROTECH™ previously reported. While the Miami installation is considered the premier art show of the Americas, the international fair also takes place annually in Basel, Switzerland; Hong Kong, China; and Paris, France . This year’s edition of Art Basel Miami runs Dec. 5-7, with preview days Dec. 3-4 at the Miami Beach Convention Center. The 2025 fair will feature 283 leading galleries from 43 countries and territories across the Americas, Europe, Asia, the Middle East, and Africa, according to a press release. Building on its vibrant cultural landscape, the show will further energize Greater Miami with a week of museum-quality exhibitions and collaborations from leading names in the...
Darrick Johnson and his team have launched a new software to put actionable insights at the fingertips of sports agents and teams. Johnson is a South Central, LA, native who knew technology would always be in his playbook. His father worked at various tech companies, including IBM and Intel, so Johnson always maintained positive sentiments toward the sector. In college, his undergraduate studies centered on business administration, marketing, and management. He then had a short nine-month stint as a professional football player in Canada, but he always knew there was more in store for his career. “I got back home from Canada and was sitting on the couch waiting around for phone calls. Phone wasn’t ringing. I was like, ‘You know what? I got a degree.’ So I literally looked up technology sales jobs and found an inside sales job … So I was making 100 calls a day for almost 18 months before I actually landed my first tech job at Dell,” Johnson told AFROTECH™. One year into his time at...
Stephen Curry is saying goodbye to Under Armour. The Golden State Warriors player has been signed with the brand since 2013. Under Armour debuted Curry’s first signature shoe during All-Star Weekend two years later , which eventually grew into a 12-model line, according to Sports Illustrated. The success of the partnership paved the way for the creation of Curry Brand in 2020, as AFROTECH™ previously told you. Three years later, Curry was appointed president of the Curry Brand and received 8,823,530 restricted stock units of Under Armour’s Class C common stock, valued at $75 million, and supposedly secured a lifetime deal, notes a separate AFROTECH™ article. “There’s always been a continuation [in mind] with Stephen,” Under Armour Founder Kevin Plank said in March 2023, per ESPN. “I couldn’t imagine Under Armour without Stephen, or Stephen without Under Armour.” According to a press release, the tides have shifted for the partnership. Curry Brand is now independent after parting...
You can never predict JuJu Watkins’ next move. The University of Southern California (USC) basketball player is now an investor in the National Women’s Soccer League’s Boston Legacy Football Club (Boston Legacy FC), according to a press release. Watkins makes history in the process as the first college athlete to invest in a women’s professional sports team. She joins a group of investors that includes Olympic gold medalist Aly Raisman, actress Elizabeth Banks, Celtics General Manager Brad Stevens, WNBA player Aliyah Boston, and Chicago Bears quarterback Caleb Williams. Sportico reports the city of Boston was awarded a National Women’s Soccer League team in 2023, and the team will begin competing in 2026. “Boston Legacy FC is creating a space for women to achieve, lead, and inspire others at the highest level, and I’m proud to be part of the movement pushing women’s sports forward,” Watkins said in a press release. Jennifer Epstein, controlling owner of Boston Legacy FC, commented:...
NBA Hall of Famer Charles Barkley is expanding his business ventures with a new 6,800-square-foot steakhouse and cigar lounge at Valley Forge Casino Resort in King of Prussia, PA, according to the Philadelphia Business Journal. The property’s owner, Boyd Gaming Corp., has not yet announced the name of the steakhouse or its official opening date. The company confirmed Barkley’s involvement and said the new venue will be located near the casino’s food court. Barkley, who played eight seasons with the Philadelphia 76ers after being drafted in 1984, said in a statement that he wanted to “bring something new” to the Philadelphia area, which he described as a place that has “always felt like home.” “We’re creating a spot that’s fun, comfortable, and full of personality,” Barkley said. “I want it to be the kind of place where people can unwind, share a great meal, and feel that same energy and connection that make this community so special.” According to the Philadelphia Business Journal,...
NFL running back Saquon Barkley has invested in AI data center startup Crusoe, joining other investors in the company’s $1.4 billion funding round, which values the startup at more than $10 billion, per Business Insider. According to the outlet, Crusoe, which calls itself “the AI Factory Company,” develops clean-energy-powered data centers for artificial intelligence. The company integrates energy sourcing, AI-optimized construction, and proprietary cloud services. Its Crusoe Cloud platform is used by AI startups, including Together AI and Fireworks, to provide computational resources for AI model training and data processing. Investors in the funding round also include Nvidia, Valor Equity Partners, Mubadala Capital, and Founders Fund. Details about Barkley’s individual investment were not disclosed, per Business Insider. The funds will support the expansion of Crusoe’s renewable-energy-powered data centers for large-scale AI operations. Barkley, who plays for the Philadelphia...