Finance – BBR | Black Business Review

Rashaun Williams: From Chicago’s South Side to Shark Tank, Building Wealth Through Venture Capital and Sports Ownership

Black Business Review — Fri, 16 Oct 2026 04:20:00 +0000

The Morehouse College graduate, venture capitalist and founder of Harbinger Sports Partners is expanding his influence across private equity, professional sports and television while championing financial literacy and generational wealth.

By Black Business Review | October 15, 2026

ATLANTA — For Rashaun L. Williams, the journey from Chicago’s South Side to the upper ranks of venture capital and professional sports ownership represents more than personal financial success. It reflects a career built on recognizing opportunity, developing relationships, and expanding access to wealth-building strategies. Rashaun Williams has become a notable figure in the financial landscape.

Williams, founder and chief investment officer of Harbinger Sports Partners, has established himself as an influential investor with experience spanning Wall Street, early-stage technology companies, private equity and professional sports.

Now, as a full-time investor on ABC’s Shark Tank, Williams is bringing his financial expertise and entrepreneurial perspective to a national television audience.

His expanding platform represents a significant milestone for a businessman whose career has centered on connecting capital with opportunity.

From Chicago to Wall Street

Rashaun Williams exemplifies the drive needed to succeed in competitive industries.

As Rashaun Williams navigated his early career, he laid the groundwork for future achievements.

Rashaun Williams’ dedication to hard work is evident in his journey.

Williams’ professional journey began long before the television cameras and multimillion-dollar investment opportunities.

The lessons learned by Rashaun Williams serve as a guide for aspiring professionals.

For Rashaun Williams, each investment reflects a deep understanding of the market.

Raised on Chicago’s South Side, he experienced financial hardship firsthand. In a recent LinkedIn reflection, Williams described working multiple jobs during his youth, including positions at a YMCA and a dental office, to help pay for basic necessities.

Rashaun Williams has shaped his career around identifying key opportunities.

Education became an important pathway toward greater opportunity.

Williams attended Morehouse College, graduating summa cum laude before building a career in financial services.

His professional experience includes positions at Goldman Sachs, Wachovia Securities and Deutsche Bank, where he developed expertise in capital markets and investment strategies.

Those experiences helped shape his approach to identifying undervalued opportunities and navigating financial markets that have historically presented barriers to many minority entrepreneurs.

Building a Venture Capital Portfolio

Williams’ investment career accelerated through his involvement in Queensbridge Venture Partners, the venture capital firm he co-founded.

Through his leadership, Rashaun Williams demonstrates the potential of strategic investment.

Rashaun Williams’ approach to investing is multifaceted and innovative.

Rashaun Williams’ involvement in private equity has transformed his investment strategy.

The firm became associated with early investments in several technology companies that would later emerge as major players in their respective industries.

Among the businesses in Williams’ investment history are Robinhood, Coinbase, Ring, Lyft, Dropbox, Casper and PillPack.

According to his Value Investment Group biography, Williams has participated in more than 170 investments and recorded more than 50 exits.

With Rashaun Williams at the helm, the firm is poised for significant achievements.

Rashaun Williams’ vision for the future of sports ownership is ambitious and forward-thinking.

Rashaun Williams’ presence on Shark Tank showcases his commitment to entrepreneurship.

His experience demonstrates the importance of identifying emerging business models before they achieve mainstream recognition.

For entrepreneurs seeking investment, his career also underscores an essential principle: capital follows opportunities that offer compelling growth potential, disciplined execution and a clear understanding of market demand.

Moving Into Professional Sports Ownership

Williams’ investment interests extend beyond traditional venture capital.

Through Harbinger Sports Partners, he is pursuing opportunities within professional sports ownership and private equity.

The firm also features billionaire entrepreneur and investor Mark Cuban as a managing partner, bringing together two prominent investors with experience in entrepreneurship, entertainment and financial markets.

Through exposure on Shark Tank, Rashaun Williams inspires the next generation of investors.

Rashaun Williams’ educational initiatives emphasize the importance of financial literacy.

Williams has also been involved in the Atlanta Falcons ownership group, reflecting the growing intersection of sports, institutional capital and long-term asset ownership.

Professional sports franchises have increasingly attracted sophisticated investors because of their commercial ecosystems, including broadcasting rights, sponsorship agreements, licensing, merchandising and other revenue opportunities.

For Williams, sports ownership represents another avenue for participating in businesses with significant long-term economic potential.

His activities illustrate a broader shift in wealth creation: moving beyond traditional income generation toward ownership of assets capable of appreciating over time.

A New Chapter on Shark Tank

Williams’ appointment as a permanent investor on the 18th season of Shark Tank marks another major development in his career.

ABC confirmed that Williams and entrepreneur Kendra Scott joined the show’s permanent investor lineup for the 2026-27 television season.

The appointment places Williams alongside established investors including Daymond John, Barbara Corcoran, Lori Greiner and Kevin O’Leary.

For Williams, the opportunity extends beyond television exposure.

It provides a national platform to evaluate emerging businesses, mentor entrepreneurs and introduce audiences to investment strategies traditionally associated with venture capital and private equity.

His presence also brings additional visibility to Black investors operating at the highest levels of American business.

Williams’ experience as both an investor and financial educator could offer entrepreneurs valuable insight into business valuation, capital allocation and the importance of building companies with sustainable growth potential.

A $750 Million Sports Investment Strategy

In May 2025, Williams launched Harbinger Sports Partners alongside Cuban and former sports executive Steve Cannon.

The firm announced a $750 million private equity fund strategy focused on acquiring minority ownership positions in professional sports franchises.

In 2026, Harbinger made a significant move when it acquired a minority stake in Major League Baseball’s Athletics, which are preparing to relocate to Las Vegas.

The investment marked the firm’s first reported franchise acquisition.

The financial terms and ownership percentage were not disclosed.

The transaction illustrates Williams’ evolution from investing in early-stage technology companies to pursuing ownership interests in some of the most valuable businesses in professional sports.

It also demonstrates how private equity is opening new pathways into an industry historically dominated by individual billionaire owners and wealthy families.

Financial Literacy Remains a Personal Mission

The lessons imparted by Rashaun Williams are invaluable to aspiring entrepreneurs.

Rashaun Williams’ journey offers a roadmap for financial success and sustainability.

As Rashaun Williams continues to expand his influence, his story resonates widely.

Despite his success in investment management, Williams has continued to emphasize financial education.

In 2001, he founded the Kemet Institute, a nonprofit organization dedicated to providing financial literacy, entrepreneurship education and life-skills training to underserved communities.

The organization has delivered educational programs to students, adults, athletes and entertainers.

Williams has also served as an adjunct professor at Morehouse College, teaching venture capital investing.

His educational work reflects a philosophy that wealth creation requires more than access to money. It requires financial knowledge, business relationships and the ability to make informed investment decisions.

For communities historically excluded from significant wealth-building opportunities, those lessons carry particular importance.

Williams’ commitment to education also creates a connection between his personal experiences growing up in Chicago and his current position within the investment industry.

Why Rashaun Williams’ Story Matters

Williams’ career offers several lessons for entrepreneurs and business leaders.

His transition from Wall Street to venture capital, and subsequently into professional sports ownership, demonstrates the value of developing expertise that can be applied across multiple industries.

His investment history also highlights the importance of relationships, calculated risk-taking and recognizing opportunities before broader markets embrace them.

Perhaps most significantly, Williams represents a growing generation of Black investors moving beyond business participation into ownership of major financial and commercial assets.

For Black entrepreneurs, his career provides a visible example of what becomes possible when financial education, institutional relationships and investment experience converge.

His rise from Chicago’s South Side to the national stage of Shark Tank is not simply a story of professional advancement.

It is a story about expanding access to capital, developing ownership opportunities and helping the next generation understand how wealth can be created and sustained.

As Williams continues to build his investment portfolio and influence the entrepreneurial landscape, his career illustrates a powerful business principle: lasting wealth is built not only through what individuals earn, but through what they own, develop and pass forward.

Tiffany Bethea Urges Black Women Founders to Turn Resilience Into Revenue

Black Business Review — Wed, 30 Sep 2026 13:07:11 +0000

In her Lead Out Loud newsletter, Bethea connects economic ownership with a practical challenge: building businesses that can support the women behind them.

By Black Business Review

Tiffany Bethea is asking Black and Brown women entrepreneurs to move beyond the language of resilience and focus on the mechanics of building stronger businesses. Tiffany Bethea emphasizes the importance of strategy in entrepreneurship.

Tiffany Bethea’s Vision for Black Women Entrepreneurs

In an April 10, 2026, edition of her LinkedIn newsletter, Lead Out Loud, Bethea presented entrepreneurship as a response to exclusion while making a pointed distinction: determination alone does not produce sustainable revenue. Business ownership, she argued, needs a strategy capable of turning ambition into sales.

Tiffany Bethea believes that by implementing effective strategies, entrepreneurs can truly thrive in their businesses.

As Tiffany Bethea notes, building a successful business requires more than just determination; it requires a strategic approach.

Tiffany Bethea understands that without a plan, resistance alone will not lead to revenue generation.

This message is central to Tiffany Bethea’s philosophy on business ownership and economic empowerment.

Tiffany Bethea points out how systemic barriers have affected Black and Brown women in the workforce.

Through her initiative, Tiffany Bethea encourages women to seize control of their economic futures.

According to Tiffany Bethea, having a solid business model is crucial for sustainable growth.

Tiffany Bethea emphasizes that understanding customer needs is key to a successful business.

Her message, published under the headline “They’re trying to close the door. Let’s build our own,” combined a call for economic agency with an introduction to a private coaching offer called the Revenue Reset.

“But resistance doesn’t pay your bills without strategy. And legacy doesn’t happen without a plan,” Bethea wrote.

That observation is the central business argument running through her message. Starting a company can create a measure of independence. Building one that consistently supports its owner requires a different level of discipline.

Bethea opened the newsletter by describing what she views as an economic environment that has pushed Black and Brown women out of jobs, restricted their access to funding and marginalized their contributions. Those statements framed her appeal to women considering their next move or seeking greater stability through an existing business.

Her response was to encourage ownership and action. She described women turning toward their businesses and choosing to create opportunities when established paths appear to narrow.

Ultimately, Tiffany Bethea seeks to redefine success for women entrepreneurs.

The significance of that argument lies in what follows the initial decision to become an entrepreneur. A founder may bring professional experience, a strong network and deep commitment to her work. The business still needs paying customers, a clear offer and an approach to selling that can be repeated.

Bethea’s message places those practical demands alongside the emotional appeal of independence. It treats revenue as an essential part of the ownership conversation, rather than an uncomfortable subject to address after the inspiration fades.

Tiffany Bethea inspires women to recognize their potential beyond mere survival.

By following Tiffany Bethea’s guidance, entrepreneurs can build resilient and profitable businesses.

In the April announcement, Bethea said she was opening two to three private coaching spots for founders seeking to move from survival toward growth. She described the Revenue Reset as an individualized coaching experience focused on identifying a path toward substantially higher sales.

The announced starting price was $2,500. Bethea emphasized personal attention and a strategy built around the founder and her offer, rather than generalized advice.

Her description included the ambition of doubling or tripling sales. That language reflected the program’s promotional goal; the supplied newsletter excerpts did not include client results establishing those outcomes. The April announcement also does not establish whether the same pricing or openings remain available.

Even with those limits, the offer illustrates the specific problem Bethea wants to address: the distance between operating a business and having a deliberate plan to grow its revenue.

For founders, that distinction matters. A full calendar can reflect activity without demonstrating profitability. An engaged audience can create visibility without producing purchases. A compelling personal story can attract attention while leaving the commercial offer unclear.

The broader business question raised by Bethea’s message is whether the work a founder performs each day is connected to a model that can sustain her. Her emphasis on the individual offer brings that question into focus: What is being sold, who values it and how does the business translate that value into income?

The visible responses to the newsletter suggest that its ownership message resonated with readers. Candice Jackson Long, commenting beneath the post, connected the discussion to the long effort to gain access to spaces that had not been designed for them, then pointed toward becoming builders themselves. Another commenter, Beth Rheingold, expressed support from allies.

Those responses add a community dimension to a message centered on personal business decisions. Encouragement can help founders act, while relationships can create opportunities for introductions, collaboration and greater visibility. Neither substitutes for a functioning business model, but both can contribute to the environment in which one develops.

Bethea closed with an affirmation directed at the women she hopes to reach: “You were built for more than surviving, sis. Let’s make sure your business knows it too.”

Her challenge is to give that aspiration a commercial foundation. Ownership becomes more meaningful when the business can support its founder, serve its customers and continue operating beyond the urgency of the moment.

For the entrepreneurs addressed in her newsletter, the next step is the demanding work behind that vision: connecting purpose to an offer, an offer to customers and customers to sustainable revenue.

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Dangote’s Refinery IPO Opens a New Chapter in African Ownership

Black Business Review — Wed, 23 Sep 2026 16:15:17 +0000

Behind the public offering is a network of investment banks, brokers, institutional backers and professional advisers connecting a major industrial business with public investors.

Black Business Review | September 23, 2026

Aliko Dangote’s refinery is inviting public investors into one of Africa’s most consequential industrial ventures, opening a share sale, the Dangote Refinery IPO, that tests both confidence in Nigerian manufacturing and the reach of the country’s capital markets. This Dangote Refinery IPO is a significant opportunity for many investors.

Dangote Petroleum Refinery and Petrochemicals FZE opened its initial public offering September 14, with subscriptions scheduled to close October 13. The offer comprises 4.1 billion ordinary shares at 525 naira each, with a minimum application of 10 shares, or 5,250 naira. At full subscription, the base offering would raise approximately 2.15 trillion naira before expenses. [1]

Ultimately, the Dangote Refinery IPO will serve as a bellwether for future industrial investments in the region.

Investors interested in the Dangote Refinery IPO should carefully assess the potential returns on their investment.

The Dangote Refinery IPO has generated considerable excitement among investors looking to enter the African market.

The distinction matters: the IPO is open for applications, but that does not mean the shares are already trading on the Nigerian Exchange. Listing follows the offering process.

For Black entrepreneurs and investors watching Africa’s industrial development, the transaction presents a larger question: Can ownership of major productive assets become more accessible while maintaining the financial discipline investors deserve?

The industrial business behind the shares

Understanding the Dangote Refinery IPO

The issuer is the refinery and petrochemicals enterprise, rather than the entire Dangote conglomerate. Its proposed public ownership therefore concerns a specific operating business.

Reuters reported that the company plans a $14.3 billion expansion to lift processing capacity to 1.4 million barrels a day by 2029. The IPO proceeds would help support expansion, although the proposed share sale alone would not cover that investment. [2]

Aliko Dangote is the industrial sponsor whose name drives public recognition. Refinery chief executive David Bird carries responsibility for translating the operating strategy into performance. Bird has pointed to international supply disruptions and constrained refining capacity as factors shaping the business’s outlook. [3]

Those conditions can support refining profitability, but investors should distinguish a favorable market cycle from earnings that can be sustained over many years.

Why Meristem is involved

The social media post highlighting Meristem points to a real transaction role. Meristem Stockbrokers Limited serves as lead stockbroker, while Meristem Capital Limited is a joint issuing house. MeriTrade is among the electronic application channels identified for the offering, according to Nairametrics. [4]

These are distinct functions. A broker supports investors’ access to securities and market infrastructure. An issuing house helps organize the capital-raising transaction.

Vetiva Advisory Services Limited is the lead issuing house. The broader syndicate includes FirstCap, Stanbic IBTC Capital, Chapel Hill Denham Advisory and other Nigerian investment banking firms. [5]

Stanbic IBTC describes its participation as joint lead issuing house, joint stockbroker and receiving bank. That combination illustrates how different businesses within one financial group can contribute to arranging the offer, processing participation and receiving subscription funds. [1]

The Dangote Refinery IPO represents a new phase in African investment opportunities.

The Dangote Refinery IPO is designed to engage a broader base of investors from diverse backgrounds.

The institutional money behind the offering

As the Dangote Refinery IPO unfolds, investors should stay updated on market developments and potential changes.

Public subscriptions are only one part of the financing story.

Dangote Industries announced in August a $1 billion backing programme structured by Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group. It comprised a funded $600 million private placement and a separate $400 million underwriting commitment supporting the IPO. Pan-African Refinery Investment SPV, a Lilium subsidiary, funded the placement and provided the commitment. [6]

For investors considering the Dangote Refinery IPO, thorough research is essential before making decisions.

Investing in the Dangote Refinery IPO could be a unique opportunity for those looking to diversify their portfolios.

The figures should not be confused with $1 billion already raised from public IPO subscribers.

Through the Dangote Refinery IPO, the company aims to foster a more inclusive investment environment in Nigeria.

Benedict Okey Oramah chairs Marob Strategies, while Simon Tiemtoré chairs Lilium Capital. Their firms are connecting the transaction with institutional capital, including potential participation from African and Caribbean governments, sovereign wealth funds and other eligible investors. [6]

The institutions that make ownership work

The excitement surrounding the Dangote Refinery IPO highlights the growing interest in African enterprises.

The Dangote Refinery IPO is more than just a financial opportunity; it represents a chance to support local industry.

Participation in the Dangote Refinery IPO is seen as a step towards enhancing economic growth in Nigeria.

The Nigerian Exchange provides the intended listing venue. Nigeria’s Securities and Exchange Commission oversees the offering’s regulatory framework. Banks, brokers, lawyers, accountants and the registrar support the transaction around them.

Their participation does not eliminate investment risk. Neither a familiar banking brand nor regulatory clearance guarantees that the share price will rise.

The SEC has specifically warned investors to verify subscription channels, avoid unauthorized payment requests and distrust unsolicited messages promising preferential allocations. That warning is particularly relevant when investment promotions spread rapidly through social media. [7]

Demand has also tested distribution infrastructure. Reuters reported disruptions at investment platforms including Bamboo, Cowrywise and InvestNaija as retail interest surged. The episode shows why digital access must be matched by reliable processing and clear investor communications. [8]

For many, the Dangote Refinery IPO could signify the beginning of a fruitful investment journey.

What the opportunity means for Black investors

For many, investing in the Dangote Refinery IPO could be a pivotal moment in their investment strategy.

The broader significance is ownership: participation in a business that processes resources and sells finished products. Yet cultural pride and commercial judgment must travel together. Investors still need to evaluate valuation, debt, operating reliability, expansion funding and the effect of currency movements on their returns.

For African American readers, eligibility requires particular attention. Stanbic’s offer notice says the securities are unregistered under U.S. securities law and that there will be no U.S. offering. A Nigerian subscription website should not be treated as proof that a U.S. resident can participate. [1]

Dangote’s IPO can become a milestone in African capital formation. Its lasting success, however, will depend on what follows the subscription campaign: transparent reporting, dependable operations and financial results that justify investors’ trust.

Join the conversation on Orbit. Connect with entrepreneurs and professionals discussing business, ownership and opportunity at orbit.blackbusinessreview.net.

As discussions around the Dangote Refinery IPO continue, stakeholder engagement will be key to its success.

Transaction party roster

Names below are shortened for readability. Roles are drawn from the offer materials; distribution platforms are a separate category from formal advisers.

Role	Parties
Issuer	Dangote Petroleum Refinery and Petrochemicals FZE
Lead issuing house	Vetiva Advisory Services
Joint issuing houses	FirstCap; Stanbic IBTC Capital; Chapel Hill Denham Advisory; Absa Capital Markets Nigeria; Afrinvest Capital; CardinalStone Partners; Comercio Partners Capital; Cordros Advisory Services; Coronation Merchant Bank; Cowry Asset Management; Ecobank Development Company; FCMB Capital Markets; Finmal Finance Services; First Ally Advisory; FSDH Capital; Futureview Financial Services; Greenwich Capital Markets; Meristem Capital; Quantum Zenith Capital & Investments; Quest Merchant Bank; Rand Merchant Bank Nigeria; Renaissance Securities (Nigeria); SCM Capital; Tiddo Securities; United Capital
Institutional backing	Marob Strategies and Consulting DIFC; Lilium Capital Group; Pan-African Refinery Investment SPV

Sources: [1], [5], [6].

Professional role	Parties
Issuer’s counsel	Banwo & Ighodalo
Offer counsel	Olaniwun Ajayi; AELEX
Shariah adviser	Buraq Capital
Registrar	Coronation Registrars
Reporting accountant	KPMG Professional Services
Auditor	Deloitte & Touche
Stockbrokers	Absa Securities Nigeria; Anchoria; Apel Asset; APT Securities and Funds; Associated Asset Managers; BGL; Chapel Hill Denham Securities; Coronation Securities; CSL; Dynamic Portfolios; FCSL Asset Management; First Integrated Capital Management; First Securities Brokers; FSL Invest; Futureview Securities; ICMG; Icon; Lead Securities and Investment; Lighthouse Capital; Meristem; Network Capital; Parthian; Quantum Zenith Securities & Investments; Readings Investments; Santrust; Springboard Trust & Investment; Stanbic IBTC Stockbrokers; Standard Union; The Bridge; United Capital Securities; Vetiva Securities; Zedcrest
Receiving banks	Access; Ecobank Nigeria; Fidelity; First Bank of Nigeria; First City Monument Bank; FSDH Merchant Bank; Globus; Guaranty Trust Bank; Jaiz; Keystone; Lotus; Premium Trust; ProvidusUnity; Rand Merchant Bank; Stanbic IBTC Bank; Sterling; TAJBank; United Bank for Africa; Union Bank of Nigeria; Zenith

Source: [9], statutory and general information, printed pages 165–170. Meristem’s lead stockbroker designation is separately confirmed in [4].

Sources

Investors should look to the Dangote Refinery IPO as a chance to be part of a transformative project.

The Dangote Refinery IPO illustrates the potential for growth in the African industrial sector.

Editorial image note: The supplied social media screenshot is labeled “AI content.” It should not be presented as documentary evidence of an actual meeting or used to identify the people pictured.

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Wall Street’s Tokenization Push: Who Gets Rich—and Where Do Black Investors Fit?

Black Business Review — Fri, 18 Sep 2026 16:31:51 +0000

BlackRock, JPMorgan and Goldman Sachs are helping reshape how assets move. Whether that transformation broadens Black ownership remains an unanswered question.

By Black Business Review

Wall Street Tokenization is putting investments onto blockchains. Social media is selling the excitement.

Understanding Wall Street Tokenization can open doors to new investment avenues.

The concept of Wall Street Tokenization is becoming more widespread among investors.

This trend in Wall Street Tokenization could reshape financial landscapes.

The implications of Wall Street Tokenization for investors are significant.

Understanding Wall Street Tokenization

Wall Street Tokenization simplifies the process of asset ownership through digital tokens.

Investing in Wall Street Tokenization requires understanding its nuances.

The challenge with Wall Street Tokenization lies in distinguishing between traditional assets and their tokenized counterparts.

A reel shared with Black Business Review pairs the names BlackRock, JPMorgan and Goldman Sachs with Ethereum and Solana imagery, presenting tokenization as a historic financial breakthrough. One screenshot displays an “800 percent” claim without enough context to establish what increased, over what period or according to whom.

The institutional activity is real. The implied investment opportunity requires considerably more scrutiny.

As Wall Street Tokenization evolves, so do the opportunities for savvy investors.

For African Americans, the central question is whether Wall Street Tokenization creates affordable ownership and business opportunities—or gives established financial institutions another way to profit while ordinary investors shoulder the speculation.

Tokenization means representing an asset or ownership interest with a digital token. That asset might be a stock, bond or fund share. Its value and the investor’s rights depend on the underlying investment and its legal structure. Putting something on a blockchain does not automatically make it valuable, accessible or easy to sell.

The screenshots also combine two different investments. Buying a tokenized fund is different from buying a blockchain’s cryptocurrency. Holding ether or SOL does not grant ownership in BlackRock, JPMorgan, Goldman Sachs or their funds.

Institutional adoption is not a promise that a particular cryptocurrency will appreciate.

The companies behind the movement have distinct roles:

The future of Wall Street Tokenization will determine market dynamics in the coming years.

Ultimately, Wall Street Tokenization could democratize access to investments.

More discussions around Wall Street Tokenization are necessary to understand its impact.

Consequently, Wall Street Tokenization presents both risks and rewards for investors.

As regulations shape Wall Street Tokenization, investor protections will be paramount.

Organization	Documented involvement
DTCC and its subsidiary DTC	Infrastructure for converting securities held at DTC into digital representations and transferring them.
BlackRock and Securitize	BlackRock launched its BUIDL tokenized fund through Securitize.
JPMorgan	Participated in DTCC’s July tokenization initiative; its Kinexys business includes tokenization services.
Goldman Sachs and BNY	Introduced blockchain records mirroring ownership of selected money market fund shares.
Fidelity Investments, Federated Hermes and BNY Investments Dreyfus	Named alongside BlackRock and Goldman Sachs Asset Management in the initial BNY–Goldman initiative.
Digital Asset	Technology provider associated with Goldman’s platform and creator of the Canton Network.

These relationships are documented in DTCC’s announcement, Securitize’s BUIDL announcement, JPMorgan’s Kinexys overview and BNY’s launch announcement.

The network extends far beyond three Wall Street names. DTCC’s July announcement also identified Alpaca, BetaNXT, BitGo, Blockdaemon, BNP Paribas Securities Corporation, Broadridge, Chainlink, Circle, Citadel Securities, CME Group, DriveWealth, DRW, Fireblocks, Flow Traders, FTSE Russell, HIFI, Invesco, Kaleido, Linux Foundation Decentralized Trust, Marex, Microsoft, Nasdaq, NYSE, Ondo Finance, Prometheum Capital, S&P Dow Jones Indices, Societe Generale, State Street Investment Management, Talos, Temple Digital Group, Tradeweb, Vanguard, Velocity Capital and Virtu Financial.

Participation does not mean every organization issues tokens or offers investments to the public. This is the published July participant list, not an exhaustive directory of the global industry. DTCC said those transactions used Besu and Canton, with its broader service launch scheduled for October 2026. The screenshots’ Ethereum and Solana imagery should not be treated as evidence that those networks powered that event. DTCC

The access question is especially revealing.

BNY explicitly described its Goldman collaboration as serving sophisticated institutional investors. BNY retained the official fund records while Goldman’s platform created corresponding digital records. That is a financial infrastructure upgrade; it does not, by itself, establish a new route for a household investing $100. BNY

The likely commercial beneficiaries include asset managers, custodians, technology providers and trading intermediaries. They can pursue management fees, service revenue and operating savings. Whether those savings reach individual customers is a separate question.

For Black households, that distinction matters. Federal Reserve research using the 2022 Survey of Consumer Finances found persistent racial differences in ownership of homes, stocks and businesses. Lower starting stock holdings meant market gains contributed less to Black families’ wealth growth. Federal Reserve

That history suggests two possible outcomes.

Affordable products with enforceable ownership rights could help more Black investors participate. Black entrepreneurs could also build businesses providing software, security, accounting and investment administration.

But expensive eligibility requirements and concentrated platform ownership could preserve existing barriers. Families chasing speculative tokens could lose money without ever acquiring the income-producing assets institutions are digitizing. These are plausible consequences—not measured racial outcomes established by the announcements reviewed.

Regulators are confronting the ownership issue. On Sept. 17, 2026, the SEC announced temporary, conditional exemptions for certain tokenized-stock trading venues. Among the conditions: eligible tokens must provide the same rights and privileges as the equivalent traditional stock. The relief is limited and conditional, not blanket approval of everything marketed as a token. SEC

For investors, the revealing questions remain familiar: What do I own? Who holds the underlying asset? How do I receive income? What fees apply? Who will buy when I want to sell? What happens if the platform fails?

Nothing in the screenshots establishes wrongdoing by the named companies. Nor do the announcements establish that tokenization will close the racial wealth gap.

What they expose is the distance between a technological breakthrough and a household’s financial progress.

For Black America, the measure of success should be greater ownership through Wall Street Tokenization, stronger businesses and wealth that survives across generations. A token is only the packaging.

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M&F Bank–Optus Merger Targets November Closing, Creating Nation’s Largest Black-Owned Bank

Black Business Review — Mon, 14 Sep 2026 12:33:45 +0000

James H. Sills III is expected to lead the approximately $1.3 billion institution as two historic banks pursue greater scale without abandoning their community mission.

By Black Business Review

DURHAM, N.C. — The proposed merger between M&F Bank and Optus Bank, known as the M&F Bank Optus Bank merger, is moving closer to completion, giving the historic transaction a clearer timetable and raising consequential questions about the future of Black-owned banking in America.

The M&F Bank Optus Bank merger aims to create a dynamic institution that not only preserves the legacy of both banks but also enhances their ability to serve the community effectively.

This strategic M&F Bank Optus Bank merger will likely empower the bank to increase its market presence and service offerings.

The leadership of the M&F Bank Optus Bank merger will focus on innovation and community engagement as core tenets of their operations.

In light of the M&F Bank Optus Bank merger, both institutions are poised to leverage their combined strengths for greater community impact.

The merger is expected to close in November, subject to regulatory and shareholder approval. Once completed, the transaction would create an approximately $1.3 billion financial institution with 10 locations across North Carolina and South Carolina—making it the nation’s largest Black-owned bank by assets.

M&F Bank President and CEO James H. Sills III is expected to lead the combined institution, operating primarily from M&F’s corporate office in Durham. Optus Chairman Paul Mitchell would remain chairman of the combined organization.

The arrangement places an experienced banking and technology executive at the center of one of the most important consolidations in the history of Black-owned financial institutions.

Sills has more than 35 years of experience spanning community banking, large financial institutions and government technology leadership. He has led M&F Bank since 2014, overseeing its digital expansion, product development and efforts to broaden its customer base.

Two historic institutions pursue greater scale

The M&F Bank Optus Bank merger is set to redefine how Black-owned banks can compete in a challenging financial landscape.

The anticipated benefits of the M&F Bank Optus Bank merger include enhanced technological advancements and improved customer service.

With the M&F Bank Optus Bank merger, both institutions aim to provide better financial solutions for their respective communities.

The M&F Bank Optus Bank merger will symbolize a new chapter in Black banking, fostering economic growth and stability.

As part of the M&F Bank Optus Bank merger, both banks are committed to expanding their outreach and support for minority-led businesses.

Understanding the M&F Bank Optus Bank merger

The legacy of the M&F Bank Optus Bank merger will depend on how well they maintain community trust and financial integrity.

The M&F Bank Optus Bank merger is an opportunity to innovate while respecting the historical significance of both institutions.

The transition period following the M&F Bank Optus Bank merger will be critical in shaping the future of customer relations.

Stakeholders will closely monitor the outcomes of the M&F Bank Optus Bank merger as it unfolds.

The M&F Bank Optus Bank merger represents a significant step toward uniting resources for a greater good.

The vision of the M&F Bank Optus Bank merger is to enhance the financial experiences of community members.

Through the M&F Bank Optus Bank merger, both banks will work to address financial disparities in underserved regions.

Ultimately, the M&F Bank Optus Bank merger will be evaluated based on its impact on community development.

Founded in 1907 as Mechanics and Farmers Bank, M&F became an important financial anchor in Durham’s historic Black Wall Street community. It is recognized as the nation’s second-oldest Black-owned bank.

Optus Bank traces its history to 1921, when it was established as Victory Savings Bank. It became South Carolina’s first Black-owned bank.

The proposed merger would bring together more than two centuries of combined institutional history. But the deal is not only about preserving the past. It represents an attempt to build the size, capital strength and technological capacity needed to compete in a banking industry increasingly dominated by large national institutions.

The transaction, valued at more than $105 million for M&F shareholders, would combine M&F’s eight North Carolina branches with Optus Bank’s South Carolina operations.

Scale could allow the combined bank to support larger commercial loans, invest more heavily in financial technology and serve businesses that may have outgrown the lending capacity of smaller community institutions.

That matters because Black entrepreneurs continue to face persistent barriers when seeking growth capital. A larger Black-owned bank could potentially finance more business acquisitions, commercial real estate projects, equipment purchases and expansion plans while maintaining relationships with communities frequently underserved by traditional banks.

The upcoming changes due to the M&F Bank Optus Bank merger are expected to set a precedent in the banking industry.

The M&F name will remain—for now

One of the most sensitive parts of the merger is the future of the M&F name.

Under the current plan, M&F branches would continue operating under their historic name for two years following the transaction’s completion. Those locations would then transition to the Optus Bank brand.

The extended transition acknowledges the value of the M&F name in Durham and across North Carolina. For generations of customers, the bank represents more than a financial institution. It is connected to the history of Black enterprise, homeownership and community development.

Still, the eventual retirement of such a respected name will require careful communication. Customers will want to know whether the bank’s lending priorities, local relationships and community commitments will survive after the signs change.

The leadership challenge will be balancing operational efficiency with cultural stewardship. Combining technology platforms, lending systems, employees and brands is difficult in any bank merger. It becomes even more delicate when the institutions carry deep historical significance.

Community impact must define the merger

Both banks are designated Minority Depository Institutions and Community Development Financial Institutions. Their shared mission includes expanding access to capital in minority, low-income and underserved communities.

Optus reports that 78% of its loans have been made to minority borrowers, 51% have gone to small businesses and more than 96% of lending by dollar value has reached persistent-poverty counties.

Those figures establish a meaningful foundation. The real measure of the merger, however, will be whether the combined institution can increase its impact.

The new bank should ultimately be evaluated through tangible outcomes: growth in minority-business lending, larger commercial-loan limits, faster credit decisions, expanded geographic reach and measurable investment in underserved communities.

Bigger is not automatically better. Scale becomes valuable when it creates more opportunities for customers.

BBR assessment

The M&F–Optus transaction could become a model for how Black-owned financial institutions consolidate without surrendering their purpose.

The combined bank will have greater resources, broader reach and stronger potential to serve established Black-owned companies seeking more sophisticated banking relationships. It could also become a more competitive financial partner for corporations, public agencies and institutions looking to move deposits into mission-driven banks.

At the same time, leadership must treat community trust as an asset—not a sentimental concern. Customers will judge this merger by what happens to service, lending access and local decision-making after the transaction closes.

Black Business Review will seek an interview with Sills for a BBR TV conversation titled: “How Two Black-Owned Banks Build National Scale Without Losing Community Trust.”

The discussion should address commercial-lending capacity, technology integration, geographic expansion, brand transition and specific minority-business lending goals.

This merger is larger than a banking transaction. It is a test of whether two historic Black institutions can combine their strength, protect their legacy and build a financial platform prepared to serve the next generation of Black businesses.

Join Orbit to connect with business leaders, entrepreneurs and professionals building the future of Black enterprise: https://orbit.blackbusinessreview.net/

Cheick-Oumar Sylla Named CEO of Africa50 Project Development Fund to Build Africa’s Next Generation of Infrastructure Deals

Black Business Review — Fri, 04 Sep 2026 04:05:00 +0000

Africa50 has appointed veteran investment and development finance executive Cheick-Oumar Sylla as CEO of its Project Development Fund, placing him in charge of transforming some of Africa’s most pressing infrastructure needs into viable, investment-ready projects.

Cheick-Oumar Sylla’s vision for infrastructure development is crucial for addressing Africa’s immediate needs.

Under the leadership of Cheick-Oumar Sylla, Africa50 aims to revolutionize infrastructure investment.

Cheick-Oumar Sylla’s extensive experience will guide the fund’s strategic initiatives.

With Cheick-Oumar Sylla at the helm, the focus will be on sustainable development.

The Casablanca-based infrastructure investment platform announced Sylla’s appointment on September 1, 2026. He brings more than 30 years of leadership experience across infrastructure investment, project development, development finance and private-sector expansion in Africa, Europe and the Middle East.

The initiatives led by Cheick-Oumar Sylla will address critical gaps in infrastructure.

Sylla joins Africa50 from the International Finance Corporation, a member of the World Bank Group, where he served as regional director for North Africa and the Horn of Africa. In that position, he led investment and advisory operations across markets with vastly different political, financial and development conditions.

His new assignment carries an enormous mandate: help create the pipeline of credible, commercially structured projects that governments need and institutional investors are willing to finance.

Cheick-Oumar Sylla’s leadership is pivotal for fostering public-private partnerships.

Through Cheick-Oumar Sylla’s efforts, investment opportunities will be maximized.

Cheick-Oumar Sylla is set to lead transformative projects that align with market demands.

Turning Infrastructure Needs Into Investable Assets

Cheick-Oumar Sylla’s Role in Transforming Infrastructure

Africa does not lack infrastructure needs. Across the continent, countries require expanded power generation, stronger transmission networks, modern transportation systems, improved logistics and significantly greater digital connectivity.

The harder challenge is moving a project from an urgent public need to an opportunity capable of attracting serious capital.

That transition requires feasibility studies, financial modeling, regulatory coordination, environmental assessments, risk allocation, government negotiations and a commercially workable investment structure. Without that development work, potentially transformative projects can remain stalled for years.

Sylla will lead the Africa50 fund responsible for helping projects cross that divide.

“Project development is the engine of Africa50’s model,” Sylla said in announcing his appointment. “It is how we turn infrastructure needs into bankable opportunities.”

That statement captures the strategic importance of his position. Sylla is not simply being asked to manage an existing portfolio. His job is to help manufacture the next generation of investable African infrastructure assets.

With Cheick-Oumar Sylla’s guidance, the platform aims to enhance investment flows.

Three Decades of Investment and Development Experience

Cheick-Oumar Sylla’s strategic direction will attract new capital for infrastructure development.

Sylla’s background gives him experience on both sides of the infrastructure equation.

Cheick-Oumar Sylla’s focus on measurable outcomes will drive project success.

During his IFC career, he served as principal investment officer for Africa infrastructure and natural resources and as country manager for the Horn of Africa. That earlier position covered Ethiopia, Eritrea, Djibouti, Sudan and South Sudan—markets where successful investment often requires navigating significant political, financial and operational complexity.

Before joining IFC in 2017, Sylla held senior leadership positions at ContourGlobal, the Islamic Corporation for the Development of the Private Sector and several African businesses. His career has included work across energy, telecommunications, banking, pharmaceuticals and hospitality.

The breadth matters. Major infrastructure projects rarely succeed through financial engineering alone. They require executives who understand government priorities, private investors’ return expectations, construction and operating risks, and the economic realities of the communities the projects are intended to serve.

Sylla must now apply that experience to Africa50’s expanding development platform and its 2030 roadmap.

Africa50’s Growing Infrastructure Platform

The impact of Cheick-Oumar Sylla’s work will resonate throughout the continent.

Africa50 develops, finances and delivers infrastructure projects while working with African governments and private capital providers. The organization currently has 38 shareholders, including 33 African countries, the African Development Bank and several major African financial institutions.

Africa50 reports that it has invested in 32 projects across 30 countries during approximately eight years of operation. Those projects represent more than $8 billion in aggregate value and span sectors including energy, transportation and digital infrastructure.

The platform is also attracting new institutional capital. In August 2026, Africa50 announced $50 million in commitments from international finance institutions for early-stage investment in climate-resilient projects—a direct indication of the capital-mobilization opportunity Sylla inherits.

His performance will ultimately be measured by more than the number of projects evaluated. The real test will be how many projects reach financial close, attract outside capital, move into construction and begin delivering measurable economic value.

BBR Assessment: The Executive Turning Africa’s Infrastructure Gap Into Investable Deals

Cheick-Oumar Sylla’s appointment is a major leadership move because he will operate where public need, government policy and global capital converge.

Africa’s infrastructure gap is frequently discussed as a development problem. It must also be understood as an investment opportunity—provided projects can be properly developed, structured and de-risked.

Sylla now controls part of the machinery designed to make that happen.

A successful Project Development Fund can create a multiplier effect. Early development capital can unlock considerably larger pools of construction financing, equity investment and long-term institutional capital. Completed energy, transportation and digital projects can then support business expansion, regional trade, employment and economic productivity.

That is why this appointment deserves attention well beyond the development finance community. Sylla is assuming responsibility for building the assets upon which other businesses—and, in some cases, entire markets—will depend.

BBR Power Move Score: 99/100

From NBA Paychecks to Bank Ownership: Harrison Barnes Invests $25 Million to Build Financial Infrastructure in Iowa

Black Business Review — Thu, 03 Sep 2026 11:58:43 +0000

Harrison Barnes is making one of the most consequential business moves by a professional athlete this year—and it has nothing to do with an endorsement agreement, restaurant franchise or celebrity-branded product.

Harrison Barnes is positioning himself not just as a professional athlete but as a serious player in the banking sector.

This investment by Harrison Barnes reflects a growing trend where athletes leverage their wealth to impact their communities positively.

Harrison Barnes is not just an investor; he is reshaping the future of community banking.

The NBA veteran has invested approximately $25 million of his own capital to acquire Community State Bank, a 70-year-old financial institution based in Paton, Iowa, about 40 miles from his hometown of Ames.

The transaction was completed through Barnes Bancorp Inc., the bank holding company principally owned by Barnes. Community State Bank will retain its name, employees and existing management team, positioning the acquisition as a long-term investment in the institution rather than a celebrity-driven overhaul.

For Harrison Barnes, this is a way to give back while ensuring that the financial needs of Iowans are met.

Many are watching how Harrison Barnes will manage this significant investment.

“This is not a vanity project,” Barnes said. “We want to be Iowa’s next great bank.”

That declaration separates the move from the usual athlete-investor story.

Barnes is not merely purchasing equity in somebody else’s company. He is taking ownership of financial infrastructure—a platform capable of accepting deposits, extending credit, financing businesses and helping determine where capital moves within a community.

A Business Strategy Years in the Making

Barnes’ arrival in banking did not begin with the Community State Bank acquisition.

He and his wife, Brittany, established Barnes & Co. in 2012 to oversee the family’s business, financial and philanthropic interests. The family office has developed a concentrated investment strategy focused heavily on traditional financial institutions and financial technology companies.

Harrison Barnes points out that understanding local needs is critical in community banking.

Its disclosed core investments have included HBT Financial, Triumph Financial, Live Oak Bank, Cass Information Systems and several other publicly traded financial institutions.

Through Harrison Barnes’ vision, local businesses can find new opportunities for growth.

Barnes also gained direct governance experience by serving on the boards of First National Bank in Ames and Dallas-based Triumph Bancorp. He later enrolled in the Iowa School of Banking, continuing his formal banking education while still competing in the NBA.

As Harrison Barnes mentioned, good bankers understand their community’s dynamics intimately.

This investment will help Harrison Barnes connect more deeply with the community.

This was not a deal improvised by an athlete approaching retirement. It was the product of years spent studying balance sheets, observing bank leadership, developing industry relationships and learning how regulated financial institutions operate.

Through this venture, Harrison Barnes is proving that athletes can affect real change.

Barnes has surrounded himself with experienced Iowa banking executives. Jeff Plagge, a former Iowa superintendent of banking and managing director at Barnes & Co., has been appointed chairman of Community State Bank. Craig Marquardt remains the bank’s president and CEO, providing operational continuity as the institution enters its next chapter.

Why Community Banking Matters

Barnes has said his interest in community banking deepened during the COVID-19 pandemic, when he observed local banks acting as economic first responders for small businesses.

Unlike national institutions managing enormous portfolios from distant headquarters, community banks are often deeply connected to the businesses, farms, families and civic organizations operating within their markets. Their lending decisions can determine whether a local company expands, survives a downturn or secures the capital needed to hire additional workers.

“Good community bankers, first and foremost, understand their community’s makeup and needs,” Barnes said in an interview cited by the San Antonio Express-News.

Community State Bank’s roots were a central part of the appeal. The institution is celebrating its 70th anniversary, and Barnes has emphasized that he intends to strengthen the bank’s established relationships rather than erase its identity.

The Federal Reserve application identified Barnes Bancorp’s plan to become a bank holding company and acquire control of Community State Bank. A related regulatory filing stated that the bank’s Paton office would remain open following the transaction.

From Earning Capital to Controlling Its Deployment

Professional athletes have become increasingly sophisticated investors, but there is a major difference between investing in a company and owning a regulated institution that helps allocate capital.

Barnes is crossing that line.

Through bank ownership, he gains an operating platform with the potential to finance entrepreneurs, serve rural communities, support local development and build a multigenerational financial enterprise. The $25 million commitment also signals that Barnes is willing to place substantial personal capital behind the strategy.

As the community watches, Harrison Barnes’ expertise in finance could pave the way for future collaborations.

For many aspiring entrepreneurs, Harrison Barnes serves as an inspiring example of financial empowerment.

Harrison Barnes’ commitment demonstrates an innovative approach to wealth management.

His basketball experience appears to have shaped his investment philosophy.

“Patience and risk management are huge pillars of successful banking,” Barnes said. “These same concepts appear in basketball, with different names—for example, shot selection.”

That comparison is more than a clever sports metaphor. Successful banking depends on discipline: knowing which opportunities to pursue, which risks to reject and when protecting capital is more important than chasing rapid growth.

The BBR Assessment

Harrison Barnes’ acquisition of Community State Bank deserves to be viewed as more than an athlete’s post-basketball investment.

This is a move toward controlling the systems through which money circulates.

A shoe contract generates income. An endorsement builds visibility. A minority investment may produce a return. Bank ownership, however, creates the capacity to accept deposits, make loans, finance enterprises and influence economic development.

The acquisition could also provide Barnes with a foundation for building a larger regional banking platform if the current institution grows successfully and future acquisitions follow. That outcome is not guaranteed—banking is heavily regulated, operationally demanding and vulnerable to credit and interest-rate risk—but the infrastructure is now in place.

Barnes has taken money earned through professional basketball and repositioned part of it inside an institution designed to deploy capital repeatedly. That is the difference between receiving a paycheck and building a financial engine.

For Black athletes and entrepreneurs studying wealth creation, the lesson is clear: the biggest move is not always owning another consumer brand. Sometimes it is owning the institution that finances the brands, businesses and communities around it.

BBR Power Move Score: 100/100

David Grain Joins BBR Billionaires List With $2.3 Billion Net Worth

Black Business Review — Mon, 31 Aug 2026 13:35:43 +0000

The Grain Management founder’s recognition highlights the power of ownership, specialized expertise and investment in the infrastructure connecting the world.

By Black Business Review

David Grain built his career around a business reality that is easy to overlook: Behind every digital connection is infrastructure somebody owns.

David Grain is a prominent figure in the telecommunications sector, influencing many through his innovative strategies.

The infrastructure that supports modern communication is critical, and David Grain has invested heavily in these assets.

As industry leaders recognize David Grain, his impact on telecommunications continues to grow.

The networks carrying information, the towers supporting wireless communications and the spectrum enabling mobile services are essential to modern commerce. Grain made understanding and investing in those assets the foundation of his business.

David Grain’s focus on infrastructure has redefined how companies approach connectivity.

Now, Black Business Review recognizes the founder and CEO of Grain Management on its BBR Billionaires List, highlighting his achievements in private equity, telecommunications and long-term wealth creation.

Forbes estimated Grain’s personal net worth at $2.3 billion as of August 29, 2026, identifying private equity as the source of his self-made fortune. BBR’s recognition is an editorial selection; the wealth estimate comes from Forbes, not an independent BBR valuation.

With David Grain at the helm, Grain Management has become a key player in the broadband industry.

Behind that figure is a career built through financial expertise, operating experience and a sustained commitment to one industry.

Those who benefit from these services recognize the role of David Grain in facilitating modern communication.

David Grain’s achievements serve as an inspiration for future entrepreneurs in the field.

Building Wealth Through the Business of Connectivity

Grain founded Grain Management in 2007 with a focus on communications infrastructure. Nearly two decades later, the firm has developed into a substantial investment business serving the global broadband industry.

The journey of David Grain illustrates the importance of experience in building a business.

According to Grain Management’s company overview, the firm reported approximately $12 billion in managed assets across 11 investment vehicles as of March 31, 2026. Its investment focus includes fiber networks, wireless spectrum, cell towers and communications services.

Those assets support activities that businesses and consumers increasingly take for granted: participating in video meetings, accessing cloud software, processing digital transactions and communicating across continents.

Grain’s business is positioned within that essential infrastructure.

The distinction between the firm’s managed assets and his personal wealth matters. The approximately $12 billion represents assets managed through the investment business, not money belonging personally to Grain. Forbes’ $2.3 billion estimate is a separate assessment of his individual fortune.

Together, the figures illustrate two different dimensions of his success: the scale of the institution he built and the personal wealth associated with his business career.

Experience Before Entrepreneurship

David Grain’s strategic focus has proven beneficial in a rapidly evolving market.

Grain’s rise did not begin with the launch of his own firm. It followed years of experience in finance and telecommunications.

According to his official biography, he served as an executive director in Morgan Stanley’s high-yield finance department and later became senior vice president of AT&T Broadband’s New England region.

He subsequently led Pinnacle Towers, later renamed Global Signal, from bankruptcy through a successful initial public offering, helping transform the business into one of the world’s largest independent wireless communications tower companies.

That progression gave him experience on both sides of the investment equation: evaluating businesses financially and understanding the operational demands of running them.

For entrepreneurs, the sequence is instructive. Industry knowledge accumulated inside established institutions can become a foundation for building an independent enterprise.

Beyond his firm, David Grain’s influence extends into various sectors and communities.

Grain’s career demonstrates how professional experience can develop into a competitive advantage when paired with ownership.

A Focused Strategy in an Expanding Market

The Grain Fellows Program exemplifies David Grain’s commitment to education and mentorship.

Grain Management’s investment approach reflects a deliberate concentration on telecommunications rather than a broad pursuit of unrelated opportunities.

The firm describes its process as data-driven and supported by deep sector expertise. Its investments target different parts of the communications industry, allowing it to pursue opportunities within a specialized field.

That focus is particularly relevant as businesses adopt more data-intensive technologies. Artificial intelligence, cloud computing and connected services depend on reliable communications networks.

Growing demand, however, does not eliminate investment risk. Infrastructure requires capital, technical expertise and careful management. Regulation, financing costs, competition and changing technology can all affect returns.

Grain’s story is therefore more substantial than simply identifying a growing market. It is about developing the capabilities to invest and operate within one over an extended period.

Influence Beyond the Investment Firm

Grain’s leadership extends into corporate governance, education and public service.

David Grain’s contributions have reshaped perceptions of wealth and ownership in the modern economy.

His official biography lists board roles with Dell Technologies, Southern Company and New Fortress Energy, alongside service as a Dartmouth College trustee and involvement with the Brookings Institution and the National Museum of African American History and Culture.

He also holds an MBA from Dartmouth’s Tuck School of Business and a bachelor’s degree in English from the College of the Holy Cross.

His philanthropic work includes the Grain Fellows Program, established with his wife to help students from lower-income families access college preparation, application support and mentorship, according to Forbes.

These commitments add another dimension to his business achievements: participation in institutions that influence education, opportunity and economic development.

BBR Assessment: Ownership Is the Bigger Picture

BBR Power Move Score: 97/100 — editorial assessment

Black Business Review recognizes David Grain for building a specialized investment firm with substantial scale, demonstrating leadership across major institutions and establishing a significant presence in communications infrastructure.

The assessment reflects business-building achievement, industry influence and leadership—not a prediction of investment returns.

For Black entrepreneurship, his career expands the conversation about where major fortunes are built. It directs attention toward private equity, technical expertise and ownership of essential assets.

The billionaire designation captures the financial result. The deeper story is the discipline behind it.

David Grain did not simply participate in the digital economy. He built a business investing in the infrastructure that makes it possible.

Kwanza Jones Breaks Historic MLB Ownership Barrier in Record $3.9 Billion Padres Deal

Black Business Review — Fri, 28 Aug 2026 04:25:00 +0000

FOR IMMEDIATE RELEASE
August 28, 2026

Kwanza Jones Breaks Historic MLB Ownership Barrier in Record $3.9 Billion Padres Deal

Jones becomes the first Black woman principal owner of a Major League Baseball franchise as she and José E. Feliciano begin a new era in San Diego

SAN DIEGO — Investor, entrepreneur and philanthropist Kwanza Jones has broken one of the highest ownership barriers in American professional sports, becoming the first Black woman to serve as a principal owner of a Major League Baseball franchise.

Jones and her husband and longtime business partner, José E. Feliciano, now jointly lead the San Diego Padres ownership group following unanimous approval from Major League Baseball’s owners and the closing of a transaction valuing the franchise at a record $3.9 billion. Feliciano has been designated as the Padres’ control person under MLB governance rules, while Jones is officially listed by the organization as a principal owner.

The transaction represents the highest valuation ever recorded for the sale of an MLB franchise, surpassing the approximately $2.42 billion paid for the New York Mets in 2020. Jones and Feliciano reportedly own more than 40% of the Padres, with additional investors and some existing stakeholders participating in the ownership group.

The couple was officially introduced during an August 24 news conference at Petco Park, where they pledged to pursue the Padres’ first World Series championship while honoring the foundation established by the late Peter Seidler and his family.

“We are all in and committed to winning,” Jones and Feliciano said in their official statement announcing the ownership transition.

More Than a Sports Transaction

For Black Business Review, the significance of Jones’ achievement extends far beyond baseball.

This is not an executive appointment, corporate promotion or ceremonial board seat. It is ownership and control of a multibillion-dollar business asset operating at the intersection of professional sports, media, entertainment, real estate, sponsorship, hospitality, merchandising and intellectual property.

The Padres generate economic value through ticket sales, broadcast and streaming rights, corporate partnerships, premium seating, merchandise, licensing and events at Petco Park. The franchise also possesses the long-term appreciation potential that has made major professional sports teams some of the most coveted assets in the world.

Jones is stepping into an ownership class that has historically remained closed to Black women and largely inaccessible to Black investors overall. Her arrival signals what becomes possible when capital, operating experience and long-term investment strategy converge.

For generations, Black participation in professional sports was concentrated primarily on the field. Players generated extraordinary cultural and financial value, but ownership remained overwhelmingly outside their reach. Jones’ move into the Padres’ principal ownership structure shifts the conversation from representation within the game to equity in the enterprise.

A Career Built Across Capital, Culture and Community

Jones brings an unconventional background to Major League Baseball.

She is an investor, attorney, former NCAA Division I athlete, recording artist and chief executive officer of the Kwanza Jones & José E. Feliciano Initiative, the private family office the couple established in 2014. The organization manages investments across sports, media, private markets and mission-aligned businesses.

Jones earned a bachelor’s degree from Princeton University, a law degree from the Benjamin N. Cardozo School of Law and a Master of Dispute Resolution from Pepperdine University School of Law. She has also served in leadership and advisory positions with the Apollo Theater, UCLA Ronald Reagan Medical Center and Bennett College.

Jones and Feliciano were not newcomers to sports investing before acquiring control of the Padres. Their portfolio includes minority interests connected to the Minnesota Timberwolves, women’s sports and other sports-focused investment platforms.

The Padres acquisition, however, moves Jones from participating in the sports economy to helping direct one of its most valuable franchises.

Building on the Seidler Legacy

The new ownership group takes control from the family of Peter Seidler, whose ambitious investment in the Padres elevated the franchise’s national profile and strengthened its relationship with San Diego.

Jones and Feliciano have said they intend to preserve that community-centered legacy while investing in the organization’s long-term competitiveness. Padres CEO Erik Greupner will continue overseeing day-to-day business operations, while A.J. Preller remains president of baseball operations and general manager.

Their immediate ambition is clear: deliver a World Series championship to a city that has supported the Padres since the franchise’s inaugural season in 1969.

The larger business story is equally important.

Jones has entered one of America’s most exclusive ownership circles without abandoning her focus on community, access and opportunity. Her achievement demonstrates that Black economic advancement cannot stop at employment, visibility or even leadership. The next frontier is ownership of the platforms,

franchises and institutions that shape culture and generate lasting wealth. Kwanza Jones did not simply earn a place inside Major League Baseball.

She acquired a seat at the ownership table—and helped rewrite who can sit there.

“We are all in; it’s not lip service. We are absolutely committed to this organization.”
— Kwanza Jones

BBR Assessment

This is the definition of a 100/100 Power Move. Kwanza Jones is not simply joining a leadership team—she is helping control a $3.9 billion economic engine spanning sports, media, sponsorship, entertainment and real estate. Her historic rise to principal ownership moves the conversation from Black representation inside major institutions to Black ownership of the institutions themselves.

How Sherrese Clarke Built HarbourView Into a $3.88 Billion Cultural Investment Platform

Black Business Review — Thu, 27 Aug 2026 13:07:45 +0000

How Sherrese Clarke Built HarbourView Into a $3.88 Billion Cultural Investment Platform

The Newark-based investment firm is demonstrating how intellectual property, institutional capital and cultural influence can generate long-term economic value.

Capital has always helped determine which stories are distributed, which creators retain ownership and which cultural assets endure. Sherrese Clarke is building HarbourView Equity Partners around the belief that cultural influence should also produce meaningful economic value for the people responsible for creating it.

Sherrese Clarke is not only a visionary but also a driving force behind HarbourView’s unique approach.

Founded in October 2021 and headquartered in Newark, New Jersey, HarbourView is a global investment firm focused on opportunities across media, entertainment and sports. The firm reported $3.88 billion in regulatory assets under management as of Dec. 31, 2025, and more than 120 investments since its founding.

Under Sherrese Clarke’s direction, the firm has made significant strides in the industry.

HarbourView’s growth represents more than another private-equity success story. It demonstrates what can happen when financial sophistication is combined with a serious understanding of culture, ownership and intellectual property.

Sherrese Clarke’s background in finance and culture uniquely positions her for success in this arena.

The insights gained by Sherrese Clarke throughout her career are invaluable to HarbourView’s mission.

Throughout her tenure, Sherrese Clarke has been a champion for creators in the financial sector.

Sherrese Clarke’s expertise in managing large portfolios is essential to the firm’s strategy.

It is this understanding that allows Sherrese Clarke to bridge the gap between culture and finance.

Sherrese Clarke’s collaboration with Apollo Global Management has positioned HarbourView for growth.

“Creators deserve a seat at the table creatively and economically,” the firm states in explaining its investment philosophy.

A Career Built at the Intersection of Finance and Culture

Clarke arrived at HarbourView with more than 20 years of experience across corporate finance, capital markets, investment banking and private equity.

Before launching the firm, she founded Tempo Music and served as its CEO and a board director. Earlier in her career, she spent nearly 15 years at Morgan Stanley, eventually becoming a managing director and leading the company’s Entertainment, Media and Sports Structured Solutions Platform.

The firm’s innovative approach reflects Sherrese Clarke’s vision for the future of cultural investments.

With Sherrese Clarke at the helm, HarbourView is redefining industry standards.

During her Morgan Stanley tenure, Clarke managed the origination and execution of more than $85 billion in loan commitments. She previously helped establish CIT Group’s entertainment practice, where she oversaw a $1 billion portfolio of entertainment companies. Clarke holds a bachelor’s degree in finance from Georgetown University and an MBA from Harvard Business School.

Many of these strategic partnerships are driven by Sherrese Clarke’s insight into market trends.

For Sherrese Clarke, ensuring that cultural relevance translates into financial success is paramount.

That background gave Clarke something especially valuable: the ability to understand both the cultural importance of creative work and the financial mechanics required to transform intellectual property into an institutional asset class.

HarbourView launched with a strategic relationship with Apollo Global Management, whose clients and funds served as lead investors in the firm. The partnership supplied HarbourView with institutional backing while allowing Clarke to build an investment strategy centered on media and entertainment assets.

Turning Cultural Influence Into Investable Assets

HarbourView initially became known for acquiring interests in music catalogs. Its publicly highlighted portfolio includes work associated with artists and creators such as Kelly Clarkson, Chaka Khan, T-Pain, Nelly, Wiz Khalifa, George Benson, Luis Fonsi and the Quincy Jones estate.

Forbes reported in February 2026 that HarbourView owned more than 70 music catalogs containing over 35,000 songs. The publication also identified HarbourView as one of the relatively small number of Black-owned firms operating within private equity and venture capital.

Music rights can generate recurring revenue when songs are streamed, licensed, broadcast or used in films, television programs, advertisements and digital content. HarbourView’s strategy applies institutional investment principles to those royalty streams while seeking new ways to protect and expand the underlying intellectual property.

The company’s ambitions, however, now extend beyond music.

HarbourView invested in MACRO, the multiplatform media company founded by Charles D. King, as part of a minority investment intended to help the company scale, expand its business lines and pursue additional growth opportunities. MACRO has built its brand around culturally authentic film, television and digital storytelling.

The firm also led an $85 million investment in Animaj, an AI-powered children’s media company that uses technology, audience data and digital distribution to acquire and grow entertainment franchises. Animaj’s model spans platforms including YouTube, Roblox, TikTok and Spotify, illustrating HarbourView’s willingness to invest where intellectual property, technology and direct audience engagement converge.

Other publicly highlighted investments and partnerships include ColorCreative, Lion Forge Entertainment, Fifth Season, Mucho Mas Media and Soft Shock. Together, they show HarbourView developing a broader cultural-investment ecosystem rather than functioning solely as a purchaser of music royalties.

Why HarbourView’s Growth Matters

For Black entrepreneurs, creators and investors, HarbourView offers an important lesson about scale.

Cultural relevance alone is not a business model. The greatest long-term value is created when cultural influence is supported by ownership, recurring revenue, disciplined operations, reliable data and access to capital.

Clarke’s strategy also challenges the assumption that culturally focused investments must remain small, charitable or peripheral. HarbourView is treating premium intellectual property and culturally influential companies as serious institutional assets capable of attracting major financial partners.

The firm describes itself as both a steward of capital and a steward of culture. That combination may become increasingly important as artificial intelligence, streaming platforms, social networks and new distribution channels reshape how creative work is produced, discovered and monetized.

HarbourView’s rise from its 2021 launch to billions of dollars under management shows what is possible when capital does more than observe culture from a distance.

It participates in ownership.

And in the modern economy, ownership remains the difference between briefly influencing the conversation and building something that can endure for generations.

Finance – BBR | Black Business Review

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From NBA Paychecks to Bank Ownership: Harrison Barnes Invests $25 Million to Build Financial Infrastructure in Iowa

A Business Strategy Years in the Making

Why Community Banking Matters

From Earning Capital to Controlling Its Deployment

The BBR Assessment

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David Grain Joins BBR Billionaires List With $2.3 Billion Net Worth

The Grain Management founder’s recognition highlights the power of ownership, specialized expertise and investment in the infrastructure connecting the world.

Building Wealth Through the Business of Connectivity

Experience Before Entrepreneurship

A Focused Strategy in an Expanding Market

Influence Beyond the Investment Firm

BBR Assessment: Ownership Is the Bigger Picture

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Kwanza Jones Breaks Historic MLB Ownership Barrier in Record $3.9 Billion Padres Deal

Kwanza Jones Breaks Historic MLB Ownership Barrier in Record $3.9 Billion Padres Deal

Jones becomes the first Black woman principal owner of a Major League Baseball franchise as she and José E. Feliciano begin a new era in San Diego

More Than a Sports Transaction

A Career Built Across Capital, Culture and Community

Building on the Seidler Legacy

BBR Assessment

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How Sherrese Clarke Built HarbourView Into a $3.88 Billion Cultural Investment Platform

How Sherrese Clarke Built HarbourView Into a $3.88 Billion Cultural Investment Platform

The Newark-based investment firm is demonstrating how intellectual property, institutional capital and cultural influence can generate long-term economic value.

A Career Built at the Intersection of Finance and Culture

Turning Cultural Influence Into Investable Assets

Why HarbourView’s Growth Matters

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