Connect with us

Business

Beyonce Reportedly Made $300 Million From Her Uber Investment

Published

on

Uber went public last week and their shares have been plummeting ever since. Despite this, singer Beyonce has still managed to score a $300 million profit from her investment. Many are wondering how this is possible since Uber’s shares plunged during the first week, closing as low as 17% below its IPO price!

Well, according to The New York Times, Beyonce received $6 million in restricted stock units (RSUs) from Uber co-founder Travis Kalanick to perform at a private company event in Las Vegas in 2015.

Here’s a little bit of information about restricted stock units (RSU). It’s compensation issued by an employer to an employee in the form of company stock that are assigned a fair market value when they vest. Upon vesting, the stock units are considered income, and a portion of the shares is withheld to pay income taxes. The employee receives the remaining shares and can sell them at his or her discretion.

So, Beyonce, although not a regular employee of Uber, was in fact “an employee” temporarily when she performed at the company’s private event. While the exact value of the shares at the time is not known, it can be assumed that the value was around $20 to $25 per share.

But when Uber’s IPO initially debuted, it started trading at $42 per share. So, if she sold her shares immediately despite the IPO plummeting, she could have easily made $300 million or more from her shares.

Another win for the Beehive!

Advertisements
Continue Reading
Advertisement

Business

Black Man produces water out of thin air!

Published

on

By

Advertisements
Continue Reading

Business

American Tax Geeks is Giving $112 Million to African Americans to Start Thousands of Franchises

Published

on

Nationwide — American Tax Geeks is known as the franchise company that pays all of the startup costs for it’s franchise owners. But now they’re specifically giving $112 million to African Americans to start an American Tax Geeks franchise. They pay your startup costs, provide employee training, and much much more. Their popular franchise model of paying for the startup costs of their franchise owners has allowed them to become the fastest growing franchise ever, with 10,000 locations for next tax season.

According to Derrick Smith, Director of Operations, “We have received a tremendous amount of applicants that want to become American Tax Geeks franchise owners, but we want to see more diversity with our franchise owners. We have apportioned specific amounts of resources for all minority franchise applicants and specifically we want at least 20 percent of our franchise locations to be owned by African Americans. We have allocated $112 million that will go towards paying for all of the startup costs of thousands of new African American franchise owners across the country. We pay several thousands in startup costs for each franchise owner. I encourage any African American that is an aspiring business owner to take advantage of this tremendous opportunity to become an American Tax Geeks franchise owner with absolutely no upfront startup costs.”

Furthermore, in addition to paying all of your startup costs, right now they’re also waiving their $40,000 initial franchise fee. With annual gross income for franchise owners being around $200K, it’s truly one of the best franchises opportunities ever.

And tax preparation is an industry that’s truly always in demand. The latest fiscal year count available from the IRS shows that more than 83 million taxpayers paid someone to prepare their federal tax return. American Tax Geeks franchise owners don’t need any prior tax experience because the actual tax work is performed by their employees and managers.

American Tax Geeks provides their franchise owners with a store location, employee training, marketing support, and everything that they need to get started and succeed without spending one penny. This is truly how more franchise companies need to operate.

To learn more about becoming an American Tax Geeks franchise owner, go to www.AmericanTaxGeeks.com right now, before it’s too late.

Advertisements
Continue Reading

Business

New Rosa Parks Barbie

Published

on

Nationwide — Rosa Parks, known as the Mother of the Modern Civil Rights Movement, is being honored with a Barbie doll that resembles her. Children can now play with a toy that will truly  inspire them, but the doll is also expected to be popular with collectors.

Mattel, the makers of Barbie, is recognizing the achievements of many historical women including Rosa Parks who “made the world better for future generations of girls.”

“By celebrating their achievements with dolls made in their likeness, we hope girls will be inspired to pursue their dreams,” a spokesperson for Mattel told CNN.

The Barbie doll will feature Parks’ authentic clothing and accessories as well as educational material about her contributions to society.

The launch of the new dolls comes as part of the brand’s Inspiring Women Series which aims to honor historical role models who paved the way for generations of girls to dream bigger.

Moreover, Mattel stated that research found that girls from the age of 5 are more likely than boys to experience the “Dream Gap” wherein they could feel like their own gender isn’t smart and competent enough. To address that, showing girls more role models and telling their stories could be beneficial.

Other women who are part of the new collection are Katherine Johnson, Frida Kahlo, Amelia Earhart, and Sally Ride.

Advertisements
Continue Reading

Hot Topics