Diddy wrote an open letter to highlight the low advertising revenue his network REVOLT gets from General Motors and how it reflects an inequity for Black-owned media companies. "In 2019, brands spent $239 billion on advertising. Less than 1% of that was invested in Black-owned media companies. Out of the roughly $3 billion General Motors spent on advertising, we estimate only $10 million was invested in Black-owned media... It’s disrespectful that the same community that represents 14% of the population and spends over $1.4 trillion annually is still the most economically undervalued and underserved at every level... Corporations like General Motors have exploited our culture, undermined our power, and excluded Black entrepreneurs from participating in the value created by Black consumers... We demand that Corporate America reinvest an equitable percentage of what you take from our community back into our community". His letter has gotten mixed reviews.

Diddy handed out $50 bills, as well as $50 Publix supermarket gift cards and bags containing hygiene products to a massive crowd in Miami Overtown neighborhood, Complex reports (watch the video below). Diddy's Sean Combs Foundation is also giving a grant to an organization that will help 175 households pay their rent throughout the health crisis. Beyonce added an ironic twist to her gifts - she gifted her friends a gold, diamond-encrusted chain that reads "2020", shaped like a hand giving the middle finger, Billboard reports.

Rapper Lil Dicky is celebrating the first anniversary of his animated short film 'Earth' by donating $800,000 to help combat climate change and contribute to COVID-19 relief, All Hip Hop reports. "The fight to save this planet isn't even close to over, and we're going to have to amplify our efforts way more to turn this thing around. Because pretty soon, it'll be too late" - Lil Dicky said, adding - "even though times have never been scarier with the COVID-19 pandemic, it has shown me something: that we can modify our day-to-day behavior to adapt to a crisis when it's right in front of us". Rapper and entrepreneur Sean "Diddy" Combs has linked with The National Bankers Association to launch a new platform "Our Fair Share" to help minority-owned small businesses get access to the second round of Paycheck Protection Program Funding, PR Newswire reports.

Dr. Dre hasn’t released an album since 2015, haven't been on tour since the turn of the millennium, and his last production credit on a No. 1 hit was in 2009 (Eminem’s 'Crack a Bottle'), but still he managed to climb to the top of Forbes list of highest-earning musician of this decade. He earned […]

Jay-Z's wealth is worth 1 billion dollars, and that's a conservative estimate, Forbes reports. They added his entire media empire, from Roc Nation to Rocawear to Tidal and D’Ussé cognac and got the 10-figure sum. Diddy and Dr. Dre rank as the second and third wealthiest rappers, with a net worth of $820 and $770 […]

American billionaire investor Robert Frederick Smith stunned the class of 2019 at historically black Morehouse College in Atlanta with his pledge to wipe out their debt, thought to be worth up to $40m. Mr Smith, 56, is the founder of the private equity firm Vista Equity Partners and one of the nation's most prominent African-American […]