google-site-verification=cXrcMGa94PjI5BEhkIFIyc9eZiIwZzNJc4mTXSXtGRM Michael Jordan, Oprah Winfrey and Jay-Z in the top five on Forbes’ 2024 world billionaires list. - 360WISE MEDIA
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Michael Jordan, Oprah Winfrey and Jay-Z in the top five on Forbes’ 2024 world billionaires list.

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Michael Jordan, Oprah Winfrey, Jay-Z, Forbes, Billionaires


Forbes released its annual list of the world’s billionaires, and Black Excellence dominated the list of the top 14 celebrities who made the list.

Michael Jordan, Oprah Winfrey and Jay-Z helped close the five biggest celebrity billionaires and the NBA legend finished third with a net price of $3.1 billion, behind Steven Spielberg ($4.8 billion) and George Lucas ($5.5 billion). Jordan earned a coveted spot on the list, securing $1.8 billion through partnerships with brands corresponding to his infamous Jordan brand under Nike. On the sports front, his time as owner of the NBA’s Charlotte Hornets netted him $3 billion when he sold the team in August 2023 after purchasing the franchise for $175 million in 2010.

Just behind Jordan was media mogul Winfrey with a net price of $2.8 billion, mostly acquired through real estate and her own production company, while Jay-Z got here in fifth with a net price of $2.5 billion. The hip-hop mogul has made billions through shrewd business moves, including selling a 50% stake in his Armand de Brignac champagne brand to luxury goods giant LVMH in 2021 for no less than $300 million and a majority stake in his D’ Usse cognac label in 2023 for a reported $750 million for Bacardi. Jay-Z also owns shares in successful corporations corresponding to Uber and Block.

Filmmaker and fellow media mogul Tyler Perry secured a spot in the top 10 due to his $1.4 billion valuation, which equaled that of pop star and entrepreneur Rihanna. Perry’s billions were amassed from his film and television activities, including creating and starring in several television shows, movies and plays. Meanwhile, it’s no secret how much Rihanna’s net price has skyrocketed since founding Fenty Beauty, which she owns with luxury goods giant LVMH and lingerie company Savage X Fenty.

Tiger Woods, price $1.3 billion, closed the list of the top 10 celebrity billionaires in tenth place. His earnings come in mainly from earnings and profession recommendations. Woods’ contract with Nike expired in January, and Woods has since began his own clothing company, Sun Day Red.

NBA star LeBron James was just behind Woods with a net price of $1.2 billion, earned due to the $1 billion he earned inside and outside the league over his 20-year profession. In addition to the thousands and thousands he earns in the NBA, James has made clever investments in real estate, grocery chains corresponding to Blaze Pizza, his media company SpringHill, and ownership interests in sports teams corresponding to Fenway Sports Group, MLB’s Boston Red Sox, the Football Club Liverpool and the Pittsburgh Penguins of the NHL.

NBA alumnus and entrepreneur Magic Johnson tied James with a net price of $1.2 billion, rating him twelfth. After gaining fame and fortune playing for James’ current team, the Los Angeles Lakers, in the Nineteen Eighties and Nineties, Johnson stabilized his fortune through business. With most of his fortune derived from his stake in EquiTrust, an Iowa-based life insurance company, Johnson also has stakes in sports teams, including the NFL’s Washington Commanders (with Justin Harris), MLB’s Los Angeles Dodgers (with with Todd Boehly), the WNBA’s Los Angeles Sparks and MLS’s LAFC.


This article was originally published on : www.blackenterprise.com
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Delay in filing your tax return? Do this if you’re still not ready

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Lying to the tax office or lying about your taxes is a criminal offense punishable by up to a few years in prison. Individuals face fines of as much as $250,000 and corporations as much as $500,000. In addition, chances are you’ll be responsible for costs related to the prosecution. Uncle Sam says don’t try this. Trust us, he’ll get you. It all is dependent upon the formalities and only every week before the tax return submission deadline. However, if you’re still in search of bills, have not made an appointment with your tax advisor, or discovered a serious tax problem that needs resolution, what do you do?

File for extension.

If you actually think there isn’t any way you possibly can file your tax return before the April 15 deadline, you possibly can submit IRS Form 4858, Automatic Extension of Time to File. This half-page form asks for your name, address and Social Security number. It’s so easy. This gives you one other six months to file your tax return.

One caveat: if you owe taxes, you still should pay the quantity you owe or an approximate amount. Do not complete the quantity here. The IRS warns that if it finds your estimate unreasonable, it might invalidate your application, exposing you to penalties for failing to file.

While tax law doesn’t strictly require you to pay your tax, to get more time to file you must or will owe more in the long term. The IRS will add interest to any tax bill unpaid in April and a late payment penalty.

More information may be found at www.irs.gov.


This article was originally published on : www.blackenterprise.com
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Understanding the pros and cons of refunds and bills

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taxes, Black people


It’s tax season at my busy business in Kansas City, Missouri and across the country. For me and my team, this often means long days and longer nights. The looming query every customer desires to know is: “Will I get my a refund or will I owe Uncle Sam?

Many people consider that the goal is to get a refund. However, in the event you check with any respected financial planning expert, they may let you know that borrowing money for a yr without earning interest is a nasty investment strategy.

This is actually what taxpayers do after they receive a refund. This is shocking to some, but true nonetheless, and here’s why. You can get an instantaneous pay raise by changing your withholdings to get more of your personal money throughout the yr. Save your personal money and earn your personal interest, or repay some of your debt and accrue interest that is still money in the bank.

Typically, the next query is, “How much is my refund? The greater the return, the greater the salary increase may be. Stop! Can we conclude that it is healthier to owe the tax office than to receive a refund? Well, it is determined by your ability to pay at the end. If you owe, you might be expected to pay on or before April 15. Failure to satisfy this condition on time may lead to penalties and interest.

So what’s more useful for you? It is predicated on financial discipline and purpose. If you might be financially sustainable, your goal ought to be to interrupt even or have a small balance left to repay. If you lack financial discipline, a refund may fit to your advantage.

Consider these three quick guides to enable you with this process:

  1. Determine whether you wish your a refund or in case your goal is to interrupt even.
  2. Talk to your tax advisor to find out the mandatory steps to enable you achieve your required profits. These could include things like W-4 adjustments, a brand new business structure, or an income and expense schedule.
  3. If you are eligible for a refund, determine the best plan to make use of it properly. If you are going to break even and get more in a yr, be certain that you employ “your surplus to the advantage of your financial situation.”

Whatever you select, be committed to your plan, follow it and understand that it’s your money. Remember that a refund doesn’t all the time mean a free pot of gold at the end of the rainbow, so be certain that you are not colorblind this tax season and make smart financial decisions. The advice a superb uncle will all the time let you know!


This article was originally published on : www.blackenterprise.com
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Business and Finance

6 strategies for making money on any market

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So how do you reply to a market milestone?

No one can predict the behavior of the stock exchange. However, there are some immutable facts. Markets will proceed to be driven by uncertainty and volatility. With that said, investors who don’t take part in solid, long-term stock investing are missing out on the chance to construct wealth. If you check historical data, you will find that the typical annual return of the S&P 500 since its inception in 1928 is about 10%.

On BLACK ENTERPRISES, We have at all times advocated long-term investing. Here are some practical investment suggestions no matter market activity. Based on our interviews with countless investing experts over time, we share these basic yet effective strategies for investing in any market:

1. Don’t time the market

In other words, you mustn’t get too excited during huge market increases or panic during market declines.

Our rule of thumb: engage in disciplined, long-term investing. It’s true that the past can never fully predict future outcomes, but it surely serves as a precious reference. Get skilled advice on constructing a long-term portfolio based on your risk tolerance level and financial goals.

2. Engage in dollar-cost averaging

By investing equal dollar amounts at regular intervals, it lets you buy more shares of high-quality firms when the stock price declines, which is a possible event in today’s fickle market. In fact, most mutual funds may be arrange as automatic investment accounts.

We can also’t emphasize enough the worth of contributing to employer-sponsored 401(k) and 401(b) plans. It’s a scientific strategy to construct your retirement savings. As lots of , funds are deducted out of your paycheck and you may spend money on various investment offers for tax-free dollars. An added bonus is that in lots of cases your employer will match a portion of your premium – currently the utmost is $18,000 per yr. Because these tax-deferred vehicles are intended for retirement, you face severe penalties and tax liabilities if you happen to withdraw your funds early.

3. Look for dividend stocks

In an increasingly unpredictable environment, it is best to consider buying shares of firms that distribute money to shareholders every quarter. These stocks are typically high-quality blue chips that may provide more money flow with a yield of two% to three%. Moreover, an everyday dividend can provide downside protection.

4. Invest in what

It’s a tried and true means of spotting opportunities by attacking well-known firms, industries and products. They are frequently market leaders with powerful brands, top-shelf management, and most significantly, you already know their products and business models.

5. Protect your portfolio by being defensive

As the economy continues to indicate an especially slow recovery, look for stocks which might be performing well in any market. Pharmaceuticals, personal care, household products, food and consumer staples – products purchased by consumers in weak or strong economies – will strengthen your farms.

6. Develop an asset allocation strategy

Diversifying your investments between two or more asset classes can allow you to stay ahead within the market in the long term. One way if you happen to don’t need to administer your personal asset allocation is to take a position in so-called target-date funds. For example, if you happen to’re about 20 years away from retirement, you would possibly select a fund with a goal payout date of 2035. These funds can provide investors with the suitable asset allocation over a given time horizon and mechanically shift to a more conservative mix because the goal date approaches.

Additionally, often monitor your stock portfolio and make adjustments to individual sectors. For example, gain overseas exposure; An excellent rule of thumb is to allocate 20% to 30% of your holdings in international stocks.

(*6*)


This article was originally published on : www.blackenterprise.com
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