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Chamillionaire And E-40 To Reward Investment Funding To Minority Startup

Amazing.

Chamillionaire and E-40 are teaming up with the equity investment platform Republic, and will reportedly do something amazing for an amazingly special startup.

Per Black Enterprise, the rappers and entrepreneurs will be rewarding a $25,000 investment to a minority and/or women-founded startup company. This contest was announced via Chamillionaire’s app, Convoz.

“I think there is a lack of diversity in the industry,” the investor told Yahoo! Finance of the importance of financing founders of color. “Now that I’m here, I see that there is a certain type of founder that gets funding from these companies and I understand that people tend to spend money on things that they’re comfortable with…”

Chamillionaire is no stranger to the investment space. The MC, well known for his early-aughts hit “Ridin’,” discussed his plans to share investment wealth and knowledge with his community. He invested in the ride-sharing app Lyft in 2014.

“I feel like a lot of these companies are disrupting the world with so much innovation and so many people from my community don't have access to this stuff,” he told CNBC’s Squawk Alley earlier this year. “My mission is to try to help a lot more people who look like me get into these companies."

Download the Convoz app to apply. The deadline to submit an investment pitch is Jun. 15, and the winner will be announced on Jun. 21.

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Billionaire Robert F. Smith Will Also Cover Parents’ Loans In Morehouse College-Debt Plan

In May 2019, Morehouse College’s graduating class of 2019 not only received the gift of their degrees, but also a unique opportunity to enter society debt-free. During his commencement speech, billionaire and owner of private equity firm Vista Equity Partners, Robert F. Smith announced his pledge to cover each student’s loans, and now their parents will be able to get in on the life-changing gesture.

According to Bloomberg, Smith will pay off the federal loans taken by the students’ parents, adding to a $34 million tab. Private student loans gifted by the college, and federal and state loans will be covered under Smith’s plan.

Morehouse's president, David Thomas, said this action will hopefully inspire the recipients to follow in Smith's footsteps. “It is our hope that our graduates will use their newfound financial freedom to pursue their career goals, to lead and serve the community, and to remember the spirit of the gift given to them by paying it forward to support the education of future classes of Morehouse Men.” The HBCU aims for the plan of action to be completed by 2020.

For Smith, with a reported net worth of $6 billion, his vision through this program aims to inspire other colleges and universities to take a charge against this country's student debt crisis and “to receive gifts from alumni and other supporters that can offset the burden of student loans and give students the freedom to pursue their dreams, the capital to invest in the economic growth of their families and the time that they can give back meaningfully to strengthening their communities.”

According to Forbes, U.S. federal student loan debt has totaled over $1.5 trillion.

Wow! Billionaire Robert F. Smith surprises Morehouse graduates by announcing his family will eliminate the student debt of the entire class of 2019 with a grant. #PayItForward #HBCU pic.twitter.com/lbZmttSsB6

— Tomthunkit™ (@TomthunkitsMind) June 10, 2019

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DMX Reportedly Signs New Deal With Def Jam

DMX has signed a new deal with Def Jam Records, bringing him back to the label that distributed his early albums and classic singles. According to AllHip-Hop, X re-linked with the record label over the summer and is set to drop a Christmas album, DMX-Mas, either later this year, or in 2020.

X dropped his quadruple platinum debut album, It’s Dark And Hell is Hot, via Def Jam/Ruff Ryders Records in 1998. He went on to release four more album under the label including, his triple platinum sophomore LP, Flesh of My Flesh, Blood of My Blood, followed by ..And Then There Was X, the latter of which became his most successful studio album selling five million copies in the U.S. alone.

X, whose birth name is Earl Simmons, is one of hip-hop’s best-selling artist with just over 17 million records sold, but like many other recording artist, the beloved MC hit more than a few bumps over the years. The 48-year-old Yonkers native has endured money struggles and a very public battle with sobriety that played a part in his returns trips to jail. He was most recently released from custody this past January, after serving a year in prison for tax evasion.

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J. Cole Says He Won't Be Doing Anymore Guest Features

Don’t expect to hear a J. Cole guest verse on songs for other artists. Cole recently blessed tracks like Young Thug’s “The London” and 21 Savages “A Lot,” but the North Carolina born rhymer says that he’s done making guest appearances after the release of his biggest feature yet: Gang Starr’s “Family and Loyalty.”

Naturally, the “Middle Child” rhymer was honored and elated to be featured on the track, and working with DJ Premier might be the perfect way to bow out of the features game. “This is the last feature you’ll hear from me,” Cole tweeted Friday (Sept. 20). “Thank you to everybody I got to work with during this run.”

This a honor to be on this song. NEW Gang Starr 🤯🤯🤯🤯 💎💎💎💎

This is the last feature you’ll hear from me. Thank you to everybody I got to work with during this run. 🙏🏿@REALDJPREMIER This song a classic, thank you. RIP GURUhttps://t.co/MMBI5Z2Fcq

— J. Cole (@JColeNC) September 20, 2019

“Family and Loyalty,” marks the first new single from Gang Starr in 16 years, and reacquaints us with the lyrical genius of Guru, who died from cancer in 2010.

As for Cole, the Grammy-nominated rapper has a lot on his plate between his solo career and the Dreamville Records imprint. The label boasts a star-studded roster that includes Bas, Cozz, Omen, EarthGang, and the incomparable Ari Lennox. The collective released their third compilation album, Revenge of the Dreamers III, earlier this year.

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