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Megan Thee Stallion is giving away $1 million worth of stock to teach fans how to "build your own empire" with her new "Investing for Hotties" initiative.

The voluptuous rapper's fans helped her to build wealth and now she wants to return the favor.

She wrote:

"Me and my thriving empire, Hot Girl Enterprises, have teamed up with Cash App to teach you everything I learned on the way up about money and how you can build your own empire.

"Buying stocks isn't only for the big players. Anyone can start with as little as $1. Putting in a little money and seeing how it moves is a great way to learn about the stock market and start building up a portfolio."

Fans who hope to win stocks can comment on her latest Instagram post with "$cashtag" for a chance to win the stocks.

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The "WAP" hitmaker, who was named one of the 100 most influential people in the world by Time magazine last year, urged investors to start small, adding, "With Cash App, you can buy and sell small pieces of stock called fractional shares, and ease your way in nice and slow.

"Buying stocks seems complicated, but really it's a pretty simple process. The more you educate yourself the more equipped you'll be to navigate investing. With my knowledge and your hustle, you'll have your own empire in no time."

 

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Rapper Nas's QueensBridge venture firm hit the jackpot after Coinbase IPO began trading on Tuesday.

The original Nas, real name Nasir Jones, founded QueensBridge Venture Partners in 2013. The rapper's stake in the company was at least $500,000.

Within minutes of trading, Nas' venture firm was worth $100 million. By the end of the day his shares of Coinbase was worth over $200 million.

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"Long crypto forever.... in sickness & in health," Nas tweeted hours before Coinbase started trading.

Basketball player Kevin Durant was also an early investor.

QueensBridge, named after the housing project where Nas grew up, has invested in more than 100 companies, including Casper, Dropbox, FanDeul, Parachute, and Lyft.

QueensBridge also invested in Ring doorbell company in 2014, which sold to Amazon AMZN +1.2% for $1.1 billion in 2018. Jones pocketed at least $25 million in the transaction.

"There wasn't a time when [rappers] didn't think about investing," said Nas. "It just so happens that the world is opening up," Jones told Forbes in 2018.

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A Reddit user who made $48 million in GameStop call options during last week's Reddit-fueled rally claims he lost $19 million when the stock nosedived on Monday and Tuesday.

Keith Gill, 34, who goes by the Reddit username @DeepF---ingValue, says he will hold onto his shares even after the stock lost 80% of its value in 3 days.

Gill started investing $53,000 in GameStop stock last year when he noticed the video game retailer was being heavily shorted by hedge funds. Hedge funds earn millions of dollars by betting that a company's stock price will drop.

Gill earned a quick $48 million during last week's historic rally, but it took less than 2 days for him to lose $19 million.

According to the Wall Street Journal, Gill is an investor who previously worked in marketing for an insurance company.

Reddit users teamed up to send GameStop stock soaring from $36 to $483 a share. But the stock dipped below $80 a share by Tuesday afternoon.

Hedge funds, which lost billions during the GameStop rally, used a tactic called a "short ladder attack" which involves selling GameStop shares to each other at lower prices, thus tricking Wall Street's algorithms into believing retail investors sold their shares at below market prices.

The ladder attack -- which is illegal -- caused the stock's prices to artificially fall. Thousands of Reddit users lost their stock gains and their life savings in 2 days.

Billionaire Mark Cuban participated in an "Ask Me Anything" session on Reddit.com on Tuesday afternoon to calm panicked investors who lost everything.

During the AMA session, Cuban urged investors not to sell their GameStop shares because the low stock price is artificial and only temporary.

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By now you've heard about the hedge fund-busting antics on Robinhood and Reddit.com where teenagers became millionaires overnight by investing in GameStop stocks.

The stock price is being fueled by hedge funds desperately covering their short positions in GameStop, the video game retailer.

Hedge funds were short-selling GameStop -- or betting that the company would fail. The lower the stock price fell, the more money the hedge funds made.

But they didn't bet that a group of scrappy day traders on Reddit would rally to save GameStop from certain failure.

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When Redditors began purchasing GameStop stocks on Jan. 19, the stock was selling at less than $30 a share. Just one week later the stock price hit a whopping $336 a share -- and the price is going higher.

The catalyst for GameStop to explode higher came on Friday, Jan. 22, when Citron Research announced it would not comment on GameStop any longer due to the actions of "an angry mob" -- the "angry mob" being amateur day traders on Reddit and RobinHood.

Some teenagers who purchased GameStop stock options on the Robinhood stock trading app on Jan. 19 are millionaires today. Others are crying tears of joy because they earned enough money to pay for surgery or to buy a new car.

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CNN laughably referred to the "angry mob" on Reddit.com as "Trump supporters."

In an unprecedented move to protect hedge funds on Wednesday, stock broker TD Ameritrade halted trading on GameStop.

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After days of arguing back and forth, the Senate finally reached a bipartisan agreement on President Donald Trump's $2 trillion economic stimulus package deal early Wednesday.

The bill contains checks ranging from $1,200 to $4,500 for individuals and small business owners. Families will receive an additional $500 for each child.

Checks for $1,200 will be sent directly to taxpayers who earned less than $75,000 a year in 2018.

But before you start spending money you haven't received yet, Tamar Braxton's fiancé, David Adefeso is sharing financial advice on his Instagram account.

The stock market is soaring on the news of the economic stimulus deal. David thinks you should take some of that federal money and invest it for your future.
 


 

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Small businesses including retailers, restaurants, real estate and personal care professionals, comprise the largest employer pool in the U.S. They are also some of the hardest hit during this shutdown because many haven’t built up enough cash reserves to account for the plunge in revenues they are currently experiencing, with no end in sight. Mass furloughs and layoffs by small businesses could drastically drive up the unemployment rate and cause consumer spending to plunge precipitously, thereby extending the inevitable recession. To make loans cheaper the Federal Reserve reduced interest rates to close to zero and Congress is currently debating measures to aid small businesses, including loan guarantees. For those who need immediate assistance, a growing list of programs exist to help small businesses, including emergency funding from the government, protection from eviction and business loan deferment. The Small Business Administration’s website (www.sba.gov) is a good place to start for information on some of these programs. “Together We Stand; But Divided We Fall”.

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Mark Zuckerberg

Mark Zuckerberg was once the pride and joy of liberals, corporations and government officials who happily paid him for the personal data of Facebook users. Zuckerberg, 33, went into hiding after news broke that a British analytics firm working with the Trump campaign had obtained personal information on 50 million Facebook users.

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Dr Dre Donates $70 Million to USC

That's not a typo. Rapper Dr. Dre donated $70 million to USC to train "and inspire a new generation of innovators." Music industry executive Jimmy Iovine also pitched in a couple hundred million.

Both men donated to a program entitled the "USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation." The purpose of the program "is to shape the future by nurturing the talents, passions, leadership and risk-taking of uniquely qualified students who challenge conventional views of art and industry," according to USC.

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Quick, when was the last time our country was in a recession? If you don't know the answer to that question then the impending recession won't affect you so much. Analysts predict a recession looming on the horizon and the wrong people are worrying about it. The Chicken Little syndrome ("the sky is falling!") is in full effect because our people watch too much CNN. Folks who don't even know the definition of recession are talking about pulling their last $20 out of the bank.

The truth is the recession doesn't affect black people so much because, hell, we're always in a recession. What's the difference to us between a recession and just being black in a white man's world? Aren't we always the last hired and first fired? Aren't the words "laid off" as familiar to us as "chicken and waffles"? Don't we already get stuck with the highest interest rates on anything we buy? Are bankers lining up to give us loans?

The last recession was in 2001, albeit a mild one, but the point is most in the black community don't remember it. Last night a friend of mine said there hasn't been a recession in the last 28 years - and yes, he's black and educated.

Not to make light of a situation that has many white people nervous and checking their stocks every 5 minutes - but, do you own stocks? Do you own a plot of land that doesn't have a lien on it? Do you have over $5000 in the bank? Do you have at least one major credit card that isn't in the red? If you made the minimum payment on that credit card over the next 20 years would you pay the balance off?

If your answer to those questions are mostly no, then you have nothing to worry about. You'll be just fine.