Jay-Z’s media empire seems to be in distress. According to Variety, Malibu Entertainment took $2.1 million in PPP loans after the music and film industries were crippled by the coronavirus. Of interest is that Malibu Entertainment is not only a Jay-Z venture, but also shares physical and, according to Variety‘s sources, some financial resources with Tidal.
“[I]n 2017 Malibu submitted for H1B visas for graphic designers providing as a contact for Joseph Borrino, CFO of Roc Nation at the time, who used a Tidal.com email address; and several Tidal employees tell Variety that their paychecks come from Malibu Entertainment.”Jem Aswad, Variety
Tidal and Roc Nation have already had to make some salary cuts, furloughs, and lay-offs during the pandemic. I’m almost positive that Mr. Carter himself has not cut his own salary in all of this, but maybe I’m wrong. The bottom line is this: Tidal has been struggling for a while. The concern is that he’s using pandemic money as a last ditch effort to save a service that probably only sees subscriber uptick when his wife decides she’ll make another one of her projects a “Tidal Exclusive”.
Jay-Z isn’t the only celebrity businessman to take advantage of the CARES Act money. Kanye West also stood in the welfare line to get Yeezy their very own EBT card as well. I’ll reiterate my thoughts from my Kanye Op Ed: These men are not playing chess, they aren’t even on the board. Jay-Z partnered with Live Nation to make Roc Nation. He bought Tidal, prebuilt. Yeezys are just rock-shaped Nikes. These men are not, in my opinion, good at this. And I think it’s time we start recognizing that. They are propped up by our dollars, and their more-marketable wives, and not giving nearly enough back.
If you’d like to read the full article, here she go.
Chadwick Boseman Passes Away At 43
Actor Chadwick Boseman, best known for his role as King T’Challa in the box office smash “Black Panther” passed away from colon cancer Friday.
The actor was first diagnosed with stage 3 cancer in 2016, but remained active in his career with much of his work being released post-diagnosis. A statement from his family confirmed that he continued to work despite his cancer progressing, befitting a man who brought America’s first Black superhero to the silver screen.
As the news of the actor’s death spread, many took to social media to share their condolences.
The tributes continue to flood in as news of his passing continues to ripple through. Read the official statement from his family below.
“It is with immeasurable grief that we confirm the passing of Chadwick Boseman.
Chadwick was diagnosed with stage III colon cancer in 2016, and battled with it these last 4 years as it progressed to stage IV.
A true fighter, Chadwick persevered through it all, and brought you many of the films you have come to love so much. From Marshall to Da 5 Bloods, August Wilson’s Ma Rainey’s Black Bottom and several more, all were filmed during and between countless surgeries and chemotherapy.
It was the honor of his career to bring King T’Challa to life in Black Panther.
He died in his home, with his wife and family by his side.
The family thanks you for your love and prayers, and asks that you continue to respect their privacy during this difficult time.”
Jeffree Star’s New “Boyfriend”
Steve Bannon Arrested on Border Wall Fundraising Scheme
Steve Bannon, Donald Trump’s former political adviser, and three other leaders of the“We Build the Wall” online fundraising campaign have been indicted on wire fraud and money laundering charges by federal prosecutors.
Federal agents and officials from the United States Postal Inspection arrested Bannon while he was on a boat located off the eastern coast of Connecticut.
Bannon is expected to make his initial court appearance in New York later today, according to the US attorney’s office. Bannon’s attorney, Bill Burck, declined to comment on the matter.
Audrey Strauss, acting Manhattan U.S attorney, issued the following statement:
“As alleged, the defendants defrauded hundreds of thousands of donors, capitalizing on their interest in funding a border wall to raise millions of dollars, under the false pretense that all of that money would be spent on construction. While repeatedly assuring donors that Brian Kolfage, the founder and public face of We Build the Wall, would not be paid a cent, the defendants secretly schemed to pass hundreds of thousands of dollars to Kolfage, which he used to fund his lavish lifestyle. We thank the USPIS for their partnership in investigating this case, and we remain dedicated to rooting out and prosecuting fraud wherever we find it.”
According to the charges, Kolfage—one of the crowdfunding organizers, spent more than $350,000 of the donations on personal expenses. These expenses include a luxury SUV, a golf cart, cosmetic surgery, home renovations, jewelry, personal tax payments, and credit card debt.
The four individuals being charged—Bannon, Kolfage, Andrew Badolato, and Timothy Shea—are charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering, CNN reports.