Tag: Finance

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Lecrae’s New Projects: Financial Planning Series and Hip-Hop Convict Contest

Lecrae has a long list of accomplishments. He’s already a rapper, producer, songwriter, music executive, philanthropist, best-selling author, actor, business owner, and entrepreneur. But he’s not done yet.

Indeed, the Grammy winner is expanding into media production. Partnering with Experian North America, a leading information services company, he has launched “Protect The Bag” . 

Financial planning with Lecrae

This six-part web series will break down the complex world of personal finance, giving viewers the skills they need improve their credit and meet their financial needs. In a recent interview, Lecrae said:

“I am on a mission to spread the word on financial education because I wasn’t educated about money and didn’t know about budgeting. I didn’t know to think about the cost of things or what to pay off first because I just didn’t have a strategy.”   

Lecrae's web series, contest
Grammy Award winning artist Lecrae on the set of “Protect The Bag”. (Photo credit: Business Wire)

With Lecrae’s own production company at the helm, 3 Strand Films, the series premiers this fall. Joining Lecrae will be a number of high-profile guests, as well as artists on his record label. Look for it on his YouTube channel soon.

Hip-hop from the big house

In addition to spreading the word of financial literacy, Lecrae is venturing into the world of incarceration. The mission: find, produce, and release music from convicts currently serving time.

Called “The Original Hip Hop Track Contest”, Lecrae and Aventiv Technologies have partnered to create a contest for aspiring artists behind bars. Contestants will get to pick from three beats to work with, produced by Lecrae and long-time collaborator Zaytoven.

In a recent press release to Blavity, Lecrae spoke on the project:

“There are very few opportunities that give those locked up a sense of hope, and even fewer that encourage and recognize the level of musical talent that sits in our prison system – this contest does both, which is why I’m proud to be involved.” 

The top twenty entries will be sent to Bernard Short and his staff of the music department at Morris Brown College in Atlanta. However, only three get to move on to the final round. Lecrae and Zaytoven will select the best of the three.

The announcement of the winner will come on October 19, 2021. From there, Lecrae and Zaytoven will record and produce the winner on site at their facility.

Any revenues earned from the project will go directly to “a  501c3 charity providing rehabilitative services for the correctional community in the winner’s state.”

 

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Scooter Braun Facing $200 Million Lawsuit

Scooter Braun

Scooter Braun is hit with a fraud lawsuit over a private equity fund

Scooter Braun is the manager for the familiar names of Justin Bieber, Ariana Grande, Demi Lovato, and more. He most recently signed The Kid Laroi to his record label, Schoolboy Records.

Scooter Braun and Ariana Grande
Scooter Braun and Ariana Grande the One Love Manchester benefit concert, 2017

Peter Comisar, Vice Chairman of Investment Banking at Guggenheim Securities. In 2016, Braun attempted to recruit Comisar to join the private equity fund he was establishing. Before working for Guggenheim Securities, Comisar had spent two decades at Goldman Sachs. Comisar claims to have agreed on a three-year deal with Braun and the firm.

In April 2018, Comisar claimed that Braun all financial commitments and funding to the equity firm. This came after Braun reported the potential for raising $500-$700 million from billionaires within the entertainment community. A formal complaint states that Braun believed he did not need to be responsible for his contractual obligations because it was common for entertainment figures to dishonor these obligations.

Braun has pushed the lawsuit into arbitration. He alleges that the fault is not on him. Instead, he claims Comisar committed to raising $250 million for the equity fund startup, but failed to do so. Braun claims this was due to a lack of investors, which Comisar had failed to acquire.

Scooter Braun

 

“Braun turned out to be a sheep in wolf’s clothing”

It seems that as details of the case progress and become available to the public, that Braun and Comisar are at odds and believe that the other did not make his promised contribution to the startup fund. As a result, the arbitration of the $200 million lawsuit contains a series of name-calling, personal attacks, and arguments over financial and personal contributions.

Comisar is not the first employee of Scooter Braun to have complaints. Previously, Taylor Swift has made several statements regarding the poor treatment she received from Braun in her time working with him and how he prevented her from having access to the rights and sales of her music.

In conclusion, it seems that Braun’s behaviors amongst his employees are forming a pattern of lawsuits, complaints, and hot water. What will happen next?

Written By Hannah Botnick (IG: @hcbotnick)

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Illinois’ financial crisis could bring the state to a halt

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Netflix was the top grossing app in Q2, with mobile revenue up 233%

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5 Crowdfunded products that actually delivered on the hype

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Nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

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