All Articles Tagged "forbes"
Forbes recently released its 2013 list of billionaires, and topping the chart weren’t many surprises: Bill Gates, Warren Buffett… But the whole thing got me thinking, what about the women who are married to billionaires? More specifically the black women who are married to billionaires? There had to be some. So I started doing some research and what do you know? There are in fact quite a few black women who’ve married billionaires (and some who might soon). Not many, but enough to mention, and certainly enough to form their own exclusive group of what I’m calling The Billionaire Black Wives Club. Check them out.
Where you live can affect your pocketbook in more ways than one. As we recently reported, where you live can affect your job opportunities. This is especially true for women, who on average earn only 77 percent as much as men in the U.S. but are the majority of breadwinners for their families. Forbes has put together a list of the best-paying cities for women in 2014. The magazine examined the 2011 American Community Survey by the U.S. Census (the latest data available), supplied by financial literacy website NerdWallet.
Here are the top five cities where women can earn the most:
1) Our nation’s capital. “In the Washington, D.C. metro area women working full-time earn a median income of $57,128. That’s nearly triple the salary in the worst-paying city for women. In Opelousas, L.A., women earn just $21,658 a year,” reports Forbes. D.C. attracts highly educated professionals who work in high-paying fields, such as politics and law. Still, even here, women earn only 81 percent as much men, who earn a median salary of $70,758.
2) Do you know the way to San Jose? The second top-paying city for women is San Jose, CA. Women living here earn a median salary of $56,499. In fact, seven metro areas in California made the top 20 list. “California cities like San Jose and San Francisco have become hotbeds of innovation and recruit talent with backgrounds in engineering and computer science, among the best-paying fields,” writes the magazine.
3) New England calls: The Bridgeport, CT woman’s median salary is $54,844, which is good, but still just 73 percent of what men make in the city. Urban centers in the East feature a high concentration of top-rated universities and highly-skilled, professional jobs, which pushes up earnings, according to Forbes.
4) Golden Gate perks: The median salary in San Francisco is $54,376 for female workers. Women take home 84 percent of what men earn.
5) Jersey Girl: In the Trenton, NJ metro area, a woman’s median salary is $52,319, which is 81 percent of a man’s.
The bottom of the list included cities in Texas, Florida and Missouri, where median salaries for women is less than $28,000.
The data also further highlighted the gender wage gap. “In fact, out of all the cities tracked, there are only four in which women earn equal to or more than men: Key West, Fla; Madera, Calif.; Fort Payne, Ala.; and Sebring, Fla, ” reports Forbes. All the more reason many women’s organizations are backing the Fairness Pay Act.
Would you relocate for better pay?
Every New Year many people make resolutions. But instead of focusing on the future, reflect on the past in order to make changes. According to Forbes, making a self audit of your life and career in the past year can give you a real clue as to the areas you need to change or develop.
The magazine takes a look at “career and life areas to focus on for the new year.” We have run through five of them.
1) Your morning routine. What didn’t you do last year in the morning that you wished you had? Was it exercise, planning your day, having a family breakfast, or quiet alone time? Make sure to do it this year.
2) Your evening routine. Don’t repeat bad and stressful habits from 2012. “If you normally come home from work frazzled, develop a new routine. You might stop at the gym, read or listen to a different genre during your commute, or spend a few minutes alone before checking mail, jumping into dinner preparation, or catching up with the family,” writes Forbes.
3) Your information diet. What kind of information are you digesting daily? Just like your food intake, your information intake can affect your mood. “Be deliberate about what gets your attention, and unsubscribe/cancel the rest,” says Forbes of magazine and newsletter subscriptions and your daily media diet.
4) Your online activity. How much time do you spend online? Have you become a member of every social network just to jump on the bandwagon? Forbes suggests keeping only the networks you use regularly and drop the others.
5) Your network. Are you repeating the same social scene as least year? If it is a case of been there, done that, then branch out. “Prune your relationships,” suggests Forbes. “You can still be friendly with old connections, but you may want to build new connections or deepen other relationships.”
What are some of the habits you had in 2013 that you want to shed for the new year?
Move over Oprah. There may be a new financial queen of the hill.
According to Ventures Africa, a news and business publication on the continent, a Nigerian fashion designer and oil tycoon (what a combination!) named Folorunsho Alakija may well be the world’s richest black woman, a title Winfrey has held for years.
A press release on the San Francisco Chronicle‘s website outlining the story puts Alakija’s worth at an estimated $3.3 billion. At last count by Forbes magazine, Winfrey’s worth is estimated at $2.7 billion. That would make 61-year-old Alakija $500 million richer than the American media mogul. Alakija is the founder and owner of Famfa Oil. Famfa, reports Ventures, owns a 60 percent working interest in OML 127, an offshore oil field that pumps out 200,000 barrels of oil per day.
Douglas Imaralu, online editor of Ventures Africa, explained, “When we did the math… we came to the realization that Alakija’s stake is easily worth billions of dollars. At this point, we have no doubt that she is indeed, richer than Oprah.”
Forbes still lists Alakija as the richest women in Nigeria. “[Alakija's] biggest break came in oil,” the magazine says.
“In 1993 Nigerian President Ibrahim Babangida awarded her company, Famfa Oil, an oil prospecting license which went on to become OML 127, one of Nigeria’s most prolific oil blocks. Famfa Oil owned a 60% stake in the block until 2000 when the Nigerian government, led by former President Olusegun Obasanjo, unconstitutionally acquired a 50% interest in the block without duly compensating Alakija or her company.”
She fought the stake acquisition in court and won in May 2012 when the Nigerian Supreme Court reinstated the 50 percent stake to Famfa Oil. Her fashion company, reports Forbes, is Supreme Stitches, which she founded in the 1980s to cater to upscale clientele.
It’s amazing how hip-hop icon Dr. Dre stays on top — on the financial side of things, that is. The last time he had an album out was more then 13 years ago. Yet he was just named number one on Forbes’ highest-paid musician list.
The list compiles the “World’s 25 Highest-Paid Musicians” and Dre topped it with a haul of $110 million between May 2011 to May 2012. Dre took home more money than Taylor Swift ($57 million), Justin Bieber ($55 million), Rihanna ($53 million), and Jay-Z ($38 million).
Dre was the only rapper in the top five. Following Dre were ex-Pink Floyd composer and leader Roger Waters ($88 million) and Elton John ($80 million), who came in at numbers two and three through constant touring. The rock band U2, who topped Forbes’ list last year with $195 million, are now number four with $78 million. And at number five due to a reunion tour was U.K. band Take That, which raked in $69 million.
Besides Dr and Jay Z, the only other hip-hop presence on the list came from Diddy ($45 million) and Kanye West ($35 million).
Last year, Beats Electronics, which Dre founded with Interscope/G
Also among his accomplishments for the year: Dre produced a remake of his single “I Need A Doctor,” which protégé Eminem and newcomer Skylar Grey (along with a cameo for Dre himself). Dre also made a paid appearance with Snoop Dogg at the 2012 Coachella Festival “where the pair shocked the world presenting a mind-numbing performance of a groundbreaki
This isn’t the first time Dre led a Forbes list. Earlier this year he also topped the magazines list “Cash Kings 2012: Hip-Hop’s Top Earners.”
As the new year approaches many of you will look to find new jobs. With a new job comes a fresh start. When looking at new job options, seek out companies that have a philosophy of diversity, which usually lends itself not just to a fair workplace, but one that embraces innovation. Also consider smaller companies, which could have benefits that you wouldn’t see with large companies. “In small businesses, a new employee often has a higher profile and is more appreciated than in a large company,” notes Yahoo Business. With a small company there tends to be more responsibility for each position, which means you are able to develop new skills. There are many small businesses that have also adopted diversity as part of their culture.
Recently Great Places to Work, a global research and consulting firm, revealed the 2012 Best Small & Medium Workplaces list, published by Fortune magazine. Each year, for the past nine, the list recognizes the top 50 small- and medium-sized companies in the United States. The list ranks companies on credibility, respect, fairness, pride, and camaraderie. We decided to look at the best places to work that take diversity seriously.
McMurry University, which placed number nine, on the Best Places to Work Small Company list, is also tops in diversity. In fact, the U.S. News and World Report Best Colleges Guide named McMurry University as one of the most racially-diverse universities in its region. And it was not just based on the student body, but the school’s staff as well.
Sunnyvale, Calif-based Akraya, Inc., run by Sonu Ratra, who came to America 15 years ago and has always stressed diversity. The IT staffing and managed solutions firm, which placed number 14 on the list, has revenues of $40 million and 300 employees. In fact writes Ratra in The Diversity Journal, “I have long been involved with workforce diversity and inclusion business… Armed with the first hand knowledge of the difficulties diversity businesses are confronted with, I have been committed to sharing my experiences with other businesses in need of guidance.” According to Ratra, the key to Akraya’s success is its “strong diversity program.”
“In 2012, I plan to grow Akraya’s Diversity Supplier Network while also continuing to educate diverse suppliers about the benefits of the certification. I am committed to workforce diversity and hope that Akraya can serve as a resource and role model for other minority businesses,” she writes.
The holiday season is here (as of Thursday), with droves of shoppers looking to spend their extra cash on the latest gadgets, toys and big purchases. And while the economy might seem a bit more stable when it comes to driving consumers, many still struggle with unemployment. As 7.9 percent of Americans face the possibility of unemployment during the holiday season, the craziness of the popular consumer season sparks an increase in seasonal job openings.
According to the Tribune Chronicle’s TribToday, retailers nationwide “are expected to hire 585,000 to 625,000 seasonal workers this holiday season, according to estimates by the National Retail Federation.” So if you are still in search of a job, or looking to earn a little more money for extra spending or expenses, try your hand at getting a seasonal position for the holidays.
Forbes has announced the top earners in hip hop for 2012 and while some of the big names are of course on the list, there are some newcomers who have made the list for the first time in 2012. Check out our list of the Top 20 Earners in Hip Hop 2012!
Is Jay-Z a successful businessman? Forbes thinks so. He was named in September by the magazine as one of the top hip-hop moneymakers.
But Jay-Z’s successes weren’t enough for Ivy League Harvard University, which initially rejected Jay-Z as a “proper” business model. Could it be because he was once a drug dealer? Well, Harvard isn’t talking. The university did not respond by press time to requests for comments.
Here’s what has been reported: In 2005, a freshman student, Chanequa Campbell, turned in a profile for an on-campus recruiting program in which she listed Jay-Z as her business role model, reports Business Insider. The Office of Career Services told Campbell to find another subject. Campbell, who grew up just blocks away from Jay-Z in Brooklyn, stood her ground and refused to redo her report. Career Services eventually relented and allowed her to submit the profile using Jay-Z’s legal name, Shawn Carter.
Why is this info now just surfacing? Campbell, who was later kicked out of Harvard and who is now teaching in New York City, is thinking of writing a memoir on her times at Harvard.
Still the fact remains that Harvard University got it wrong. Many in business consider Jay-Z a successful entrepreneur. CareerBuilder, in fact, published a “5 Things You Can learn From Jay-Z’s Career.”
Among the points:
· Find something you’re passionate about and make it part of your life. Jay-Z is a sports enthusiast. Not content with just being a fan, Jay-Z assembled a team (that included Lebron James) in 2003 to play an Entertainers Basketball Classic (EBC) and then became a partial owner of the Brooklyn Nets.
· Market yourself. One of the other reasons Jay-Z decided to assemble was the great marketing opportunity. He branded a bus with the image of a sneaker he designed for Reebok, had the team tour in it, all while his music blared.
· Know when to move on. In 2003, at the peak of his career (up to that point), Jay-Z retired. Most of us don’t have that luxury right now, but if you’re just going through the motions and the excitement and passion you once had are lacking, don’t be afraid to look around.
CareerBuilder isn’t the only group impressed with Jay-Z business instincts. He rolls with other multi-millionaire businessmen. Business magnate Warren Buffet, considered one of America’s greatest financial minds, even sat down with Jay-Z for a joint interview.
Speaking of Forbes, a staff writer for the magazine, Zack O’Malley Greenburg, even inked a book about Jay-Z’s business prowess, Empire State of Mind: How Jay-Z Went From Street Corner to Corner Office.
With investments worth up to half a billion dollars and including the Brooklyn Nets, ad firm Translation, cosmetics company Carol’s Daughter, Rocawear, and the 40/40 Club, we think Jay-Z knows a little somethin’, somethin’ about business.
If you are looking into college soon or are planning your children’s college education, the decision of what to major in is a significant one. In today’s economy, deciding on a major could ultimately lead you to a high-paying career or lead to a profession that’s struggling.
According to a May interview between Payscale’s lead economist Katie Bardaro and Forbes, unless a candidate has attended a top-notch school, today’s employers are more concerned with relevant coursework and a potential employee’s major.
While you are preparing your research into colleges and universities, getting your SAT test scores together, or mapping out your child’s educational future, make sure you take a look at some of the most popular college majors and how they could benefit you or your child after graduation.