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Sabrina Lynch
November 12, 2024

Today, the aging population is changing the wealth gap face, but let’s start with how black beauty brands are hustling hard without financial grace…

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Black Beauty Brands Are Beating Faces But Not Banking Billions…Yet

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Black consumers are not shy when it comes to purchasing beauty products that take prime place in their self-care routines. However, despite accounting for more than 11% of beauty customers throughout the country, Black-owned beauty brands account for only 2.5% of total revenue accrued from the industry. Given that 11.1% of beauty sales comes from the pockets of Black Americans, this is not a good look considering the $2.6 billion opportunity that’s being slept on by not addressing the beauty industry’s racial inequity.

Is America’s Aging Population Impacting The Wealth Gap

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The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community.

Family Offices Are The Elite's New Go-To Wealth Management Strategy

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Stocks and bonds are no longer the go-to investment option. The crème de la crème are exploring alternative investment opportunities and family offices seem to be quenching their thirst. In just five short years, family offices have jumped from managing $3.3 trillion to $5.5 trillion. And that's not all. By the close of this decade, the wealth managed by family offices will increase to 189%.

Tune-in Tuesdays!

Ozempic and other weight loss drugs have shown effectiveness in controlling blood sugar levels and in turn, potentially lower associated costs for diabetes treatments. However, they’re yet to achieve this. Are we just hearing a lot of hype without the impact or do we give it some more time?

A. “All or Nothing" by Alaine - Regardless of the costs, it’s a do-or-die situation. Take weight loss drugs to manage diabetes or risk worsening health conditions.
B. "Cover Up" by Money Man - Weight loss drugs might offer superficial improvements but they don’t address the deeper issues related to obesity and its associated health conditions.
C. "Trading Places" by Usher - These medications help shift the weight of healthcare costs. It’s just a matter of shifting the problem elsewhere.

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and welp! It looks like Queen B gracing Kamala’s campaign was just a ‘Hotline Bling’ and didn’t have the impact we thought it would.

TKO Group Ropes In 'The Rock' In A $3.25 Billion Acquisition

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In a bold move that’s electrifying the sports entertainment world, TKO Group Holdings Inc (TKO +0.04%) is acquiring Professional Bull Riders (PBR), On Location, and IMG for a staggering $3.25 billion. The mega-mind behind this uber-merger is none other than Dwayne "The Rock" Johnson, whose Hollywood star power shows no signs of dimming. This move is aimed at expanding the sport portfolio of TKO Group.

Artificial Intelligence Is Keeping 65% Of Businesses Frozen With AI-nxiety

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Business leaders across industries are feeling anxious over their newfound responsibility to implement, regulate machine-learning software. The benefits of artificial intelligence (AI) are endless when it comes to decision-making for complex industries, leading to 65% of businesses feeling like they are suffering from AI data bias. Generative A.I. is projected to add $4.4 trillion in value to the global economy, however the consequences of its usage is more worrying considering datasets currently used to train the technology are designed through a white patriarchal lens.

Vibes of the Week

Beauty brands are putting in the work, but, "Wait a Minute," they are missing billions! Willow explains in our CBX Vibes!