Russell Simmons Sued

Russell Simmons may be finally cashing in on his the RushCard venture he took on back in 2003, but he's not getting out of the game without paying a few unsettled debts. On Wednesday, February 1, the Consumer Financial Protection Bureau announced that it is slapping Simmons' UniRush company along with MasterCard, with a fine of $13 million over the well-publicized breakdown that left customers unable to access their money more than two years ago.

“The RushCard fiasco stopped people from accessing their money to buy food and pay rent,” said associate director of the nonprofit National Consumer Law Center, Lauren Saunders in a statement. The decision was made upon the center's determination that many of the flaws what led to over the 830 grievances filed against UniRush after the 2015 incident, were preventable. "The CFPB’s action will put $10 million back in the pockets of working families struggling to make ends meet,” Saunders said. The $3 million tacked on in addition to the $10 million settlement will go towards penalty fees collected by the CFPB.

Aside from the CFPB determining that customers were in many cases denied their funds, and had not been receiving adequate services, it was found that many customers were misinformed about their account balances, as was the case with some who figured they had more money than they had believed, due to UniRush documenting deposits multiple times, and others believing they had less than they actually had because of inaccuracies in MasterCard's communication with the company.

It is the second time in a year that UniRush has agreed to pay out restitution over the debacle. In 2016, Simmons' company was forced to pay $19 million following a class-action lawsuit that was successfully waged against him in a New York Court. Throughout, UniRush has continued to maintain that the incidents were nothing more than blunders, but expressed being content that they could meet the needs of their customers. “RushCard welcomes our settlement with the CFPB,” the company said in a statement. “We maintain that our company did not engage in any wrongdoing, and do not admit to such in our Consent Order with the CFPB.”

Earlier this week, Simmons received the good news that prepaid debit card competitor Green Dot Corp. had agreed to purchase UniRush for $147 million. The profit made on the sale should easily offset the total in lawsuit payments Simmons has now been ordered to shoulder.

#Stream The Million Dollar Swag Song

Chorus: I got a "Million Dollar Swag" now these niggas out here hate me now, i'm out here on my grind stay dougie fresh all the time. Just now my chain hang low, we stacking money to the ceiling and you know we fresh to death and number one because we winning.

Lyrics: I got a "Million Dollar Swag" just hopped in a brand new Jag. With the all white Gucci boots, my girl she got swagger too. I'm out getting money, stacking paper everyday. If you a hater, bye hater cause I don't want to see you later.

The Million Dollar Swag Song was a hit single produced by Gansta Marcus for his album "Slick Rick." The song came out ahead of it's time. If you are looking for a new sound of music that's hot for everyone to listen too, then this is it.

Million Dollar Swag can be found on many digital music outlets for streaming. Show the underground boss love with the purchase of this track to your computer or musical device.

Purchase this song on Amazon Music

Stream the full album using Spotify

See full list of Albums

Million Dollar Swag would have been a hit record during the time of it's release. No artist was making music of it's kind during that day. With lack of knowledge and promotion, Gansta Marcus could not see the music he created push through.

PC And Mobile Devices Set To Rise

On average, the price of PCs and phones will go up by 2 percent this year. The calculations are based on U.S. dollars and average market sizes. The prices will go up largely due to the rising prices of components. Also, more users are upgrading to more expensive and feature-rich mobile handsets.

This year is expected to big for smartphones. Samsung has launched the Galaxy S8 smartphones, and Apple is expected to launch its 10th anniversary iPhone later this year. Premium-priced smartphones will go up by roughly 4 percent.

A good barometer for mobile phone pricing is the Chinese market. Global pricing of Chinese branded smartphones will go up to RMB 2,000 (US$290) by the end of this year from RMB 1,700 (US$246) at the end of last year.

 The PC market has slowed down, and it is driven now by high-priced gaming PCs and 2-in-1s. Buyers of those PCs are willing to spend more money on their computers. Low-end laptops and desktops will remain available, but PC makers like Dell and HP are slimming down those offerings. Low-cost laptops like Chromebooks typically have aging components, little storage, low-resolution webcams, and limited memory.

Gartner estimates 426 million computing devices, including PCs and tablets, will ship this year, dropping from 439 million last year. PC shipments will total 265 million this year, dropping from 270 million last year. Shipment of tablet devices like the iPad will total 161 million, dropping from 169 million last year, the analyst group predicted.

The Fight For R. Kelly's $1.5 Million Dollar Royalty Account

 

R. Kelly has more than $1.5 million in a royalties account with Sony, the singer’s former record label. The question now: Who gets that money?

R. Kelly’s former Near West Side landlord secured a $3.5 million judgment earlier this year against the jailed singer to cover past-due rent. A woman sued the singer last year, alleging sexual abuse, and was awarded $4 million. That woman, who the Chicago Sun-Times is not naming, is one of Kelly’s four alleged victims in his pending criminal case in Cook County.

After the awards were issued in each suit, attorneys for both plaintiffs contacted Sony with a “citation to discover assets,” which revealed Kelly had $1,544,333 in a now-frozen royalties account.

Obamacare Unleashed

Obamacare health plan has been released. More Americans have healthcare that they cannot afford. The number of Americans struggling to pay medical bills fell last year for the first time in nearly a decade — the latest sign that Obamacare is making health care more affordable.

Sixty-four million people, or approximately 35 percent of the U.S. population, said they had trouble paying bills or were stuck paying off medical debt in the past year, according to a new survey by the Commonwealth Fund released on Thursday. That was down from 75 million people, or 41 percent of the population, in 2012. This marks the first time that figure has fallen since 2005, when Commonwealth started keeping track.

Commonwealth attributed the drop partly to expanded access to affordable health insurance made possible by Obamacare. The survey found that the number of uninsured Americans dropped to 29 million people last year, or 16 percent of the population, from 37 million, or 20 percent, in 2010.

The Commonwealth survey, which polled 6,027 U.S. adults in the second half of 2014, is in line with several other studies finding that the uninsured rate is falling.

“These declines are remarkable and unprecedented in the survey’s more than decade-long history,” Sara Collins, the lead author, said in a press release. “They indicate that the Affordable Care Act is beginning to help people afford the health care they need.”

As the chart from Commonwealth shows, the percentage of Americans reporting problems paying off medical bills or medical-related debt rose from 2005 to 2012. Rising health-care costs, stagnant income growth and the aggressiveness with which providers go after people who haven’t paid their bills all contributed to this growth, according to Commonwealth Fund president David Blumenthal.

The Affordable Care Act has reversed what had been a “deterioration” of the American health-care system, according to Blumenthal. Medical-bill debt, which is often expensive and unexpected, can significantly harm people’s credit ratings, as a recent study from the Consumer Financial Protection Bureau pointed out. Nearly 20 percent of credit reports are hurt by overdue medical bills.

The survey also found that, for the first time since 2003, there has been a decline in the number of people putting off health care because of the cost. In 2012, a record 80 million people said they didn’t visit a doctor or clinic for a medical problem, didn’t fill a prescription, skipped a follow-up, treatment or test, or did not get needed specialist care, in order to avoid paying for it. That number fell to 66 million in 2014.

A $57.25 Million Luxury Condo

Murdoch is buying the top four floors of new Manhattan luxury condo One Madison for $57.25 million. The 60-story glass tower on E. 23rd St. offers amazing New York city views, including clear views of the new World Trade Center. Murdoch’s new “quadruplex” penthouse includes more than 10,000 square feet, features five bedrooms, 5½ bathrooms, a spiral staircase and wide-open living areas, all wrapped by floor-to-ceiling glass. The condo also has an internal private elevator.

Mr. Murdoch recently became a bachelor after he and his former wife, Wendi Deng, divorced last November, ending 14 years of marriage. As part of the divorce settlement, he signed over to Ms. Deng a triplex penthouse at 834 Fifth Avenue, which he bought for $44 million in 2005. The couple’s two young daughters, Grace and Chloe, will live with their mother.

Mr. Murdoch’s new apartment will be on the 57th through 60th floors of One Madison, a building near Madison Square Park. The owner of the building, Related Companies, said in a statement announcing the sale — without naming Mr. Murdoch as the buyer — that the apartment encompassed more than 10,000 square feet.

The residence “offers a soaring double-height great room with dramatic floor-to-ceiling windows and a wraparound terrace, with uninterrupted cinematic views of Manhattan, river to river and from the World Trade Center to the uptown tip of Madison Avenue.

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Most Valuable NBA Franchise

The +New York Knicks has been named the most valuable NBA Franchise. Forbes released its annual list of richest NBA teams, and the Knicks come in first at $1.4 billion. New York is one of three teams in the league that are worth over a billion dollars, with the runners-up on the list being the Los Angeles Lakers ($1.35 billion) and Chicago Bulls ($1 billion). The top five of the list is rounded out by the Boston Celtics ($875 million) and Brooklyn Nets ($780 million).

A major part of the profitability of the Knicks and Lakers is their television revenue. In addition to being massively popular global brands, both teams essentially control their own television networks, the Knicks’ MSG and the Lakers’ Time Warner Cable SportsNet. Forbes reported that the Lakers have the richest local television agreement in the NBA, worth $3.6 billion over 20 years.

Coming in last on the list are the Milwaukee Bucks, worth an estimated $405 million, well below the league average of $634 million. The two-time defending NBA champions, the Miami Heat, are the seventh-most profitable team in the league at $770 million, and the team with the current best record in the league, the Indiana Pacers, come in at No. 22, with a $475 million total value.

Rihanna, Beyoncé and Taylor Swift named 'Music's Most Iconic Figures'

 

Beyoncé, Rihanna and Taylor Swift are the only music acts included on Forbes’ annual list of The World’s 100 Most Powerful Women, where they’re sharing rarefied air with the likes of Queen Elizabeth II, Oprah Winfrey and Vice-President elect Kamala Harris.

“The leaders on Forbes’ 2020 list of the World’s Most Powerful Women are playing a critical role in determining what the post-pandemic world will look like.” “Their influence is being leveraged beyond economic and political might to transform industries and solve for society’s most urgent issues. The power they hold to move us all forward has never been more apparent — or needed.

Rihanna ranks highest among the singing icons, at No. 69, mostly for her charitable efforts. The$800 million Bajan beauty donated millions of dollars to various charities, including coronavirus relief efforts, and to help abuse victims in L.A. and the needy in New York City. Of course, the “Only Girl in the World” chanteuse is also a business maven, thanks to her Fenty Beauty line and Savage X Fenty lingerie line — expanded through a landmark partnership with LMVH, the French conglomerate, which is at the helm of Dior, Fendi, Givenchy, and Louis Vuitton.

Jennifer Lawrence Named Highest-Paid Actress In The World

For the second year in a row, the odds are in her favor: Jennifer Lawrence is once again the world's highest-paid actress, notching $46 million pretax over 12 months–$13 million more than second-ranked Melissa McCarthy, who pocketed $33 million.

Film star Jennifer Lawrence is becoming a tough act to follow — financially speaking. The Oscar winner is the world's highest-paid actress for a second straight year, collecting a cool $46 million before taxes over a recent 12-month stretch, according to Forbes.

From Hollywood's Hottest Jennifer Lawrence to India's Most Beautiful Deepika Padukone, the world's highest paid actresses earned a combined $205 million. Deepika Padukone. Mila Kunis. Julia Roberts. Amy Adams. Charlize Theron.

Sprint To Buy Parts Of Tidal

TIDAL has sold 33% of its stake to mobile phone carrier Sprint, a deal worth roughly $200 million. JAY Z and all of the original owners will remain with a stake in the streaming service and the app should be broadcasted to all 45 million of its customers soon. Also, Sprint CEO Marcelo Claure will join the TIDAL board of directors.

Spotify Hits 30 Million Paid Subscribers

Spotify last announced subscriber figures this past June with a count of 20 million. By the end of 2015, that number had reportedly surpassed 25 million. Spotify’s biggest competitor, Apple Music, claims 11 million paid subscribers.

A woman walks through a hallway at Spotify offices following a press conference in New York City.
MARIO TAMA/GETTY IMAGES
Spotify CEO and founder Daniel Ek announced on Monday that the streaming music service has officially hit 30 million paid subscribers. In a Twitter comment tied to President Obama’s historic visit to Cuba, Ek said that none of those subscribers are in the island nation “yet… So cool to see Cuba opening up!”

CLICK HERE TO BECOME A PAID SUBSCRIBER

Universal Music Group to Acquire Dr. Dre Catalog

 

Dr. Dre is an American rapper and record producer. He is the founder and CEO of Aftermath Entertainment and Beats Electronics, and previously co-founded, co-owned, and was the president of Death Row Records.

Jennifer Lopez's "Hustlers" Breaks Major Box Office Records

Hustlers has become their third release to gross over $100 million at the domestic box office. Hustlers has now sold more tickets than Goodfellas.

Lorene Scafaria’s acclaimed black comedy about women (Constance Wu, Jennifer Lopez, Keke Palmer, Lili Reinhart, etc.) doing crime is more successful than Martin Scorsese’s acclaimed black comedy about men (Ray Liotta, Robert De Niro, Joe Pesci, etc.) doing crime.

A handful of New York strippers who use their wiles (and some light drugging) to con their rich clients out of copious legal tender in the aftermath of the 2009 Wall Street crash, has earned 3x its $33 million opening weekend. The $20 million flick has also earned $125 million worldwide. For better or worse, it is only the second female-directed movie of the year to cross $100 million, after Captain Marvel.

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Inside Adele's Beverly Hills Compound

 

Adele is becoming a huge player in the international real estate game! The beginning of 2022 marrled her latest endeavour - the purchase of a mega-mansion in Beverly Hills. The home was listed for over $100 million but the singer got a deal at $58 million!

‘Music To Be Murdered By’ Has Sold 1 Million Units In The U.S.

Music to Be Murdered By got off to an explosive start when it dropped without warning in January, moving 279,000 album-equivalent units in its first week. It made Eminem the first artist to debut 10 consecutive albums at No. 1 on the Billboard 200 and one of only six artists to score 10 No. 1 albums in the United States. 

By crossing the million-unit mark, Music to Be Murdered By is now eligible for a platinum certification from the RIAA. With the exception of 2017’s critically panned Revival, each of Eminem’s major-label studio albums dating back to 1999’s The Slim Shady LP has gone platinum or better, with two of them—2000’s Marshall Mathers LP and 2002’s The Eminem Show—collecting diamond plaques for U.S. sales exceeding 10 million.

Kendrick Lamar Invests Into $2.65M Property

Rapper Kendrick Lamar is now deep in the real estate game. The 30-year-old plucked a few dollars from his money trees and bought a Calabasas, Calif., home for $2.65 million.

Jay-Z Buys Scandinavian Music Streaming Company

Rumors are that Hip-hop star Jay-Z is buying a Scandinavian music streaming company for $56 million to add to a business empire that has spanned clothing and sports bars.

Project Panther Bidco Ltd, a company controlled by the 45-year-old rapper, said on Friday it had agreed to buy Sweden-listed Aspiro for 464 million Swedish crowns ($56 million) in cash.

Shares in Aspiro, which runs music streaming service WiMP, leapt 59 percent in early trading to the bid level of 1.05 crowns per share.

Rihanna’s raises $125M with a Abu Dhabi-based investment firm

 

An Abu Dhabi-based investment firm linked to a top security official in the United Arab Emirates said Thursday it has invested $25 million in Savage X Fenty, the lingerie company co-founded by megastar and business mogul Rihanna.

Savage X Fenty also raised new investment from the Abu Dhabi Growth Fund, owned by the Abu Dhabi government.

Chance The Rapper Gives Back

On Monday, Chicago's own Chance the Rapper announced that he would be donating $1 million to his city's public school system.

At a press conference at Wescott Elementary School, Chance expressed his disappointment in Illinois governor Bruce Rauner: "While I am disappointed in Governor Rauner, that will not stop me from doing all I can to support Chicago's most valuable resource: its children."

Chance said that in addition to the $1 million, he'd be donating $10,000 to various schools' after school programs.

"This isn't about politics," Chance said, "This isn't about posturing, this is about taking care of the kids."

#ChanceTheRapper Donates $1 Million To #ChicagoPublicSchools #cps __________________________ Chance The Rapper is putting his money where his mouth is. The Chi Town native donated $1 million to the Chicago Public School Foundation today (Monday, March 6.) _________________________ Chance announced his gift during a press conference at Wescott Elementary. __________________________ Chance’s monetary donation comes following his meeting with Illinois Gov. Bruce Rauner last week. Chance was reportedly disappointed with the governor for not providing an answer for a $215 million CPS shortfall that was part of a budget deal, ABC 7 Chicago reports. ____________________________ Chance said Rauner left him with “vague answers."

A post shared by Kollege Kidd (@kollegekidd) on Mar 6, 2017 at 2:07pm PST

2013 Hip Hop’s Wealthiest Artists

The 2013 Hip Hop’s Wealthiest Artists List is out, and you won't believe the ratings.