11 Black Entrepreneurs Who Made It to Forbes’ 2015 Billionaires List

 

michael-jordanMichael Jordan

Net Worth: $1 billion

Jordan’s wealth comes from being the majority shareholder of the Charlotte Bobcats and from deals with Gatorade, Hanes and Upper Deck. Most of his wealth comes from his deal with the Jordan Brand with Nike.

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Femi Otedola

Net Worth: $1 billion

Otedola is a native of Nigeria and the controlling shareholder of Forte Oil, one of West Africa’s largest oil companies. The Forte Oil company owns gas stations and fuel storage depots. It also manufactures and sells its own line of engine oils.

Abdulsamad-Rabiu

Abdulsamad Rabiu

Net Worth: $1 billion

Rabiu is also a native Nigerian, and he is the founder of the BUA Group. This company focuses on sugar refining, cement production, real estate, steel, port concessions, manufacturing, oil, gas and shipping.

5 Reasons Why ‘I Have Nothing to Hide’ Is the Wrong Way to Think About Surveillance and Privacy

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You Won’t Always Know When You Have Something to Hide

The unfortunate reality is that most people won’t actually know that they should have something to hide. Whether it’s a law they don’t know about or an ongoing investigation that people have no idea they are a suspect for, the mentality of “I have nothing to hide” can often lead people to incriminate themselves even when they are innocent. As Supreme Court Justice Stephen Breyer once explained, according to Wired, “The complexity of modern federal criminal law, codified in several thousand sections of the United States Code and the virtually infinite variety of factual circumstances that might trigger an investigation into a possible violation of the law, make it difficult for anyone to know, in advance, just when a particular set of statements might later appear (to a prosecutor) to be relevant to some such investigation.”

Michelle Rodriguez Made Some Controversial Comments — and She Left a Few Things Out

Michelle Rodriguez is wrong — and right — in her recent comments on race switching in superhero stories. But, both her initial comments and her revised comments leave quite a bit of the story of the role of diversity in the world of superheroes untold.

“It’s not ‘stealing’ when creative minds look at a well-known story and ask, “what if?” or even better, “why not?” If a group of astronauts can venture into space and get blasted by an anomalous force that turns them into people who can stretch beyond belief, become invisible, burst into flames or become the equivalent of living rock, certainly that weirdness can happen to Black people. Especially when racial identity is not key to the story.

Stealing would be systematically casting white actors to play Egyptians without ever thinking about offering the parts to equally brilliant actors of color. Then, only casting actors of color when there is a need for a terrorist, a servant or, ironically, a thief. That part Michelle, admittedly, got wrong.

What she got right was that the time is long overdue for superheroes who look like half of the population (women) and the ever growing number of Black and brown people in this country to have the opportunity to tell their stories.

Heroes that have a different perspective, fantastic backstories and complex villains. Heroes with awesome powers and trials to overcome and, of course, that overwhelming call of duty to save, defend, unite, etc. Maybe she didn’t know – and that’s OK. But not knowing actually illustrates the problem – these characters and stories ARE out there and doing well, but their creators simply don’t have access to the platforms and power to push them into the mainstream.

Now, let’s be clear. It IS lazy to simply gender or race swap in lieu of creating a new hero or focusing on the thousands of characters out there that already exist around which a new franchise can be launched. It means looking at the characters and the thousands of indie titles that are creator-owned that have been filling in the gaps for multicultural audiences for YEARS.

Since last summer, while directing episodic TV episodes, I have been traveling the country on a book tour for my graphic novel series, “Legend of the Mantamaji.” I have seen people of all races and ages excited to see a well-drawn, thrilling story with multicultural characters. At the 2014 New York Comic Con, librarians exclaimed their “kids” (library patrons) would go crazy over my novels. That’s not to brag by any means – it’s to show that the need is real, the audience is willing and a multitude of creators and fantastic stories are out there. The only people playing catch-up are those who actually greenlight the shows and films.

It sounds silly, right? All of this angst over comic books? But think of it this way – comic books and superheroes represent wish fulfillment for people of all ages and backgrounds. We all want to be the hero or the person who makes a difference. When a kid throws a sheet on her shoulders, slides her brown curly hair into a helmet and pretends to save the world, does she see herself defeating the bad guys or does she imagine that she’s a white male to accomplish the deed? What does it mean to all kids and kids at heart when the only toys you can find at Christmas are of the white male characters in your favorite movies? That the women characters aren’t important? That the characters of color don’t matter?

Beyond altruistic reasoning is what really lies at the heart of the matter – money. It’s a fact that films with diverse casting do better than films that lack diversity. It’s a fact that women now make up close to half of the comic convention attendees and that women account for $7 trillion in consumer spending (and those are 2012 Nielsen numbers). African-Americans are projected to have $1 trillion in their buying power bank in 2015. The same goes for Hispanics, and Asian Americans are inching toward $1 trillion. Native Americans have seen their buying power increase 149 percent since 2000.

The money is there, and smart money says that if the full resources of a studio are put behind a great film with a great story and diverse casting that it will be a hit. It just makes sense – and maybe with more Hollywood creators joining the voices of indie creators and fans, we will be able to position ourselves to greenlight these projects – because it really is time.

As an episodic director, Eric Dean Seaton has directed 195 television episodes of 38 different shows, 18 music videos and two pilots for Nickelodeon, as well as two pilots for Disney XD. He has also directed episodes of the NBC/Warner Bros. comedy “Undateable,” TBS’s “Ground Floor,” BET’s “Let’s Stay Together” and “Reed Between the Lines.” “Legend of the Mantamaji” is his first graphic novel series.

10 Top Powerful Black People on Wall Street You Should Know

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Ronald E. Blaylock

Blaylock is the founder and managing partner of GenNx360. The company has $600 million in capital under management and $1 billion in the company’s portfolio. Before starting GenNx360, Blaylock was CEO of Blaylock & Co., an investment banking firm he founded in 1993.

Carlyle

Cedric L. Bobo

Bobo is the principal of the Carlyle Group. He focuses on U.S. buyouts in industrial and transportation sectors. During his time as principal, he helped acquire a $43 billion private equity firm, AlpInvest Partners. In 2010, Bobo was a co-leader in the formation of a joint venture that acquired more than $5 billion in shipping assets, using up to $900 million in equity.

 

5 Things That Will Lead to More Women Thriving in Science

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Embrace Your Differences

The reality is that most academic fields have been dominated by white males for decades. In just the past 50 years, scientific fields have slowly increased the number of women and minorities in the labs. This is very good for science and society. People of different backgrounds can have solutions and ideas that others may not have heard of yet. Being different is a positive, and everyone should always be willing to understand that.

Young Math Prodigy Enrolled in University at the Age of 10, Crushing Stereotypes About Black People in STEM

As science, technology, engineering and math (STEM) careers continue to struggle to become more diverse, a young Black math prodigy is demolishing every stereotype that this industry has held against Black women specifically and black people in general.

Past diversity reports from today’s biggest tech giants say it all — Black people and women are grossly underrepresented in STEM fields.

It’s a pattern that is reflected all throughout the STEM industry.

This means Black women in such fields are nearly impossible to come by, but as one 10-year-old math prodigy is proving, it’s not because Black women aren’t capable of filling these positions.

Esther Okade of Walsall, England, would likely be shocked to hear of the deficit of Black women in STEM, if she hasn’t heard about the serious shortage already.

While the general consensus and illegitimate stereotypes have led people to believe that Black girls just aren’t into math, Esther spends much of her time ripping through equations and formulas that would leave her college classmates stumped.

Yes. Her college classmates.

Before she even reached her teenage years, Esther managed to successfully enroll in the U.K.’s Open University, a distance learning and research university, where she will be working toward a mathematics degree, the Telegraph reported.

“I just love math,” Esther told the Daily Mail about her recent accomplishment and obsession with numbers. “All the numbers and the solving, it’s like a mystery.”

Math isn’t the only interest Esther has. Outside of being able to crunch numbers like a seasoned accountant, she has the same interests that any other 10-year-old would have.

Esther told the Telegraph that she enjoys playing with dolls and is in love with the movie Frozen.

But in the midst of watching her favorite talking snowman and playing with friends, she’s preparing to become a successful banker.

She estimates that she’ll be able to earn her degree in roughly two years before going on to earn her Ph.D.

“And then from there I’ll start running my own business,” she added, according to the Daily Mail. “I want to be a banker.”

For those who are concerned that this could be an overwhelming experience for the young math genius, her mother wants the world to know that this was all her daughter’s decision.

“From the age of 7, Esther has wanted to go to university,” the math prodigy’s mother told the Telegraph. “But I was afraid it was too soon.”

Eventually, she just couldn’t say no anymore.

Esther begged her mother to allow her to go to the university and finally receive a challenge in the classroom when it came to math — even though those challenges still haven’t left Esther struggling by any means.

On a recent exam, Esther received a perfect score.

Industry experts are hoping that the young aspiring banker will be enough to encourage other young Black girls to ignore messages that the STEM field isn’t for them.

Boys are far more likely to be encouraged to pursue such careers, which plants the necessary seeds of interest at a young age. Young Black girls are typically left out of that conversation and rarely discover their interest in STEM until they are much older, if even then.

But as young Esther has demonstrated to the world, it’s about time that more young Black girls are encouraged to give STEM careers a try.

After all, leaving more great minds like Esther’s out of the mix and away from STEM jobs in the future would only be cheating the entire world out of the possible innovations that their work could bring to the industry.

HBCUs Are on Track to Becoming Major Creative, Innovative Centers for Young Black Minds

HBCUs lead the way in STEM

When most people think about universities and colleges producing the innovators and thought leaders of tomorrow, they typically imagine Ivy League schools that tend to lack in diversity. The innovators in their minds typically take on the form of Mark Zuckerberg or Bill Gates as white males have been known to dominate the tech space.

As it turns out, however, Historically Black Colleges and Universities (HBCUs) all across the nation are home to some bright minds that have already made major steps in scientific advancement and technological innovation.

Perhaps two of the most attention-grabbing developments from HBCU students are a hypoallergenic peanut in the works and patent-driven developments on what could soon become the most efficient self-parking and self-driving car to date.

Agricultural researchers at North Carolina A&T University in Greensboro, North Carolina, are leading efforts to perfect a process that could eliminate allergens from a peanut without impacting its taste.

Peanut allergies are among the most common allergies Americans face, which makes the researchers’ work all the more important.

The innovative minds behind the project are hoping to reduce the allergenic properties in peanuts by as little as 30 percent and as much as 100 percent.

This would ultimately mean people who have long suffered from peanut allergies would no longer have anything to worry about.

The researchers already have a patent filed for the technology they are using to create the hypoallergenic peanut.

Meanwhile, another patent filed by students at Florida A&M University in Tallahassee, Florida, has garnered just as much attention.

These two inventors, Sihle Wilson and Ronald Benson, are helping to make major technological advancements as consumers have their fingers crossed for the first self-driving and self-parking car to hit the market soon.

It’s a project that tech giants like Google have also been embarking on, and BMW recently unveiled a car that has the potential to locate its own parking spot.

While these companies have made major strides and seem to be on the brink of figuring out how to efficiently get a car to park itself under any circumstances, there are major bugs in the system that are preventing the futuristic cars from becoming a reality for consumers.

The two Florida A&M University software engineers may be able to make the final push to perfect such complicated technologies.

Their “Autonomous Passenger Retrieval System for Automobiles” uses artificial intelligence to give vehicles some impressive features, their parent file suggests. These impressive features, such as detecting people and other cars, would be able to help the vehicle steer itself and safely find a parking spot until its owner returns.

“The automated driving system also is configurated to direct a vehicle to its owner and detect the presence of another vehicle or pedestrian to evade potential collisions,” Black Engineer wrote of the two students’ project. “Wilson and Benson further designed the valet process to be built into a vehicle as standard/optional equipment or as an add-on part.”

Such major contributions to science and technology coming from HBCU-affiliated researchers and students serve as proof that the nation has a lot to gain from investing in Black students.

For this reason, Dr. John Michael Lee, the vice president of the Association of Public and Land-grant Universities, hopes HBCUs will continue to “foster innovation” and “commercialization” to give their students the chance to compete in the tech world on a global scale.

He also hopes federal efforts will continue to contribute to bright Black minds that have the potential to revolutionize science and technology for the better.

So far, President Barack Obama has launched a massive campaign that helped push for $260 million in public-private financial commitments for increased STEM literacy.

The National Science Foundation has also been a huge support system for Black innovators and HBCU students.

The foundation reports that HBCUs received $547 million in research and development dollars in 2011. Those NSF grants included a total of $350,000 that was awarded to students at Tuskegee University back in 2012 so they could further their studies of the “interplay between psychosocial and academic structural factors that affect retention of minority students at HBCUs,” Black Engineer reported.

The stunning amount of financial backing for HBCUs is a positive sign that the NSF has faith in what these students have the ability to accomplish, discover and invent.

Now, Lee says, the spotlight is on the individual HBCUs to step up and make sure they continue growing their historic institutions into hubs that foster creativity and innovation.

“HBCUs must invest in the infrastructure to deliver innovation and entrepreneurship including creating opportunities for students to take a leading role in developing and producing innovation, create tech transfer officers to facilitate student and faculty start-ups, idea incubation and commercialization, create new institutional courses, change faculty pedagogy and develop partnerships that will lead to success for students at HBCUs,” Lee said, according to Black Engineer. 

The White House Brings Back ‘We the Geeks’ Series to Celebrate Black Talent in STEM

White House response to diversity problems in tech

Today’s biggest tech giants and other major corporations have been doing their best to drive diversity in science, technology, engineering and math (STEM) after reports recently revealed just how many white males dominated the space. Now, the government is also adding to the conversation with the return of “We the Geeks.”

The White House recently announced that in honor of Black History Month, the special Google + Hangout series will be making a return and making a point to highlight the “untold stories of African Americans in STEM.”

The series, which returns Wednesday at 2 p.m. EST, will bring “extraordinary students, scientists, engineers and inventors” together to talk “about how they got inspired to pursue STEM and how they are paying it forward to help engage America’s full and diverse STEM talent pool.”

According to the White House’s official website, the series of guests will include Rachel Harrison Gordon, presidential innovation fellow; Marvin Carr, student volunteer at the White House Office of Science and Technology Policy; Nicolas Badila, winner of the National STEM Video Game Challenge, and several other leaders in STEM.

The website claims the return of the Google + Hangout series is a federal response to the lack of diversity in STEM.

“Today, minorities remain considerably underrepresented in many areas of the Nation’s STEM student-pool and workforce,” the website reads. “This is a squandered opportunity for our country and for those bright, creative individuals who might otherwise help solve the problems we face as a country and enjoy STEM careers — the kind of careers that not only make a positive difference in the world, but also pay more than non-STEM jobs.”

In addition to the Google + Hangout special, the White House also hosted a virtual Edit-a-Thon on Tuesday.

The Edit-a-Thon allowed “researchers, students, and expert Wikipedia-editors” to “convene in the Eisenhower Executive Office Building for a two-hour editing sprint to research and crowd-source the stories of African American STEM all-stars.”

8 Professional Organizations You Should Consider Joining If You’re a Blerd

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National Organization for the Professional Advancement of Black Chemists and Chemical Engineers

This organization was created in 1972 to build a community of minority scientists and engineers. It serves as a catalyst to diversify a majority white field. The organization currently has 39 professional and university chapters.

 

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National Organization of Blacks in Government

Members of this organization are civil servants at the federal, state, county and municipal levels. Blacks in Government was founded in 1975. It currently has more than 50 chapters, including the Departments of State and Homeland Security, the Coast Guard and the National Institutes of Health.