Third Annual ForbesBLK Summit To Feature ESPN's Stephen A. Smith, Billionaire Philanthropist Robert Smith, Who Returns To Historic HBCU Morehouse College This October
During a pivotal time when the impact of Black entrepreneurship, investment and cultural creation are dominating the global media landscape, this three-day-event will be centered around the theme Today's Challenges, Tomorrow's Opportunity: A New Path to Economic Prosperity. Discussions will focus on overcoming the present-day challenges, while also paving a path to help drive Black America forward.
'For 158 years, Morehouse has served as a crucible for intellectual leadership, social justice, and principled prosperity, producing leaders who are obligated to address the day's challenges while actively creating a better future for our global society, no matter the industry they choose," says Dr. David A. Thomas, president of Morehouse College. "For such a time as this, we are honored to convene the ForbesBLK Summit on our campus and to contribute to the generational work of advancing equity, innovation, and cooperative economic agency in the Black community in our quest for collective progress.'
The 2025 Summit will feature an elite lineup of speakers including Robert F. Smith, founder of private equity firm Vista Equity Partners, who made history at Morehouse College in 2019 as a commencement speaker when he announced that he was paying off all $34 million dollars of student loan debt for the entire graduating class of 396 students. Stephen A. Smith American television personality, sports host and journalist will also be joining the impressive speaker roster which includes:
Segueing into Morehouse's Homecoming Week, this year's Summit will unite attendees, students and Black business leaders for an immersive mentorship and high-impact networking experience. The Summit will also spotlight local Black-owned businesses and culminate in a high-energy concert —setting the tone for HBCU Homecoming Week.
'With a history rich in leadership and service, the vibrant community of Morehouse is the ideal central meeting point to bring together our esteemed guests and outstanding speakers for the 2025 ForbesBLK Summit,' said Jabari Young, Editorial Lead, ForbesBLK, 'We look forward to convening and inspiring attendees locally and globally to help reshape and enhance the future of Black America.'
The 2025 ForbesBLK Summit is proud to partner with the Office of Mayor Andre Dickens and the Atlanta-Fulton County Recreation Authority (AFCRA).
'At AFCRA, we believe in creating space—not just physical space, but space for innovation, leadership, culture, and possibility,' says Kerry Stewart, Executive Director of the Atlanta-Fulton County Recreation Authority. 'As the lead sponsor of the ForbesBLK Summit for three years, we're proud to champion a platform that celebrates excellence, sparks generational prosperity, and connects changemakers with purpose and power.'
Past speakers at the ForbesBLK Summit include Fantasia Barrino, Russell Westbrook, Nick Cannon, La La Anthony, Stacey Abrams, and Jermaine Dupri.
For more information about the ForbesBLK Summit, visit: 2025 ForbesBLK Summit
For sponsorship inquiries, please contact: sponsorship@forbes.com
About ForbesBLK Community
One of Forbes' fastest growing communities and platforms, ForbesBLK is dedicated to championing Black entrepreneurs, leaders, investors and creators, who are driving systemic changes across business, culture and society. With 57,200 members represented by 92 countries, ForbesBLK alongside its Community Manager, Ayisha Mendez, Assistant Managing Editor, Ali Jackson-Jolley and National Advisory Council members, remains committed to amplifying the voices of Black innovators and leaders around the world.
Media Contact:
Feryal Nawaz, fnawaz@forbes.com
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Los Angeles Times
20 minutes ago
- Los Angeles Times
Indian businesses in SoCal brace for 25% tariff hike: ‘More expensive to do business day by day'
A jar of pickled mango, a popular Indian condiment, costs $2.99 at Pioneer Cash & Carry in Artesia. But that price won't hold for long. The grocery store, nestled in the heart of Artesia's Little India, has to raise prices to keep up with its rising costs in light of President Trump's trade policy with India. Beginning Friday, there will be a 25% tariff on Indian goods. Because the two nations could not reach an agreement before Trump's deadline, the president signed an executive order Thursday night authorizing the tariffs for goods from India and several other countries to start in seven days. Several businesses that rely on imported Indian goods in the Los Angeles area told The Times they would have to raise prices to maintain operations with the steep tariff. Business owners expressed anxiety over not knowing what the next couple of weeks or months will look like for their bottom lines. Devraj Keray, the owner of Pioneer Cash & Carry, said some vendors already notified him that prices will go up 25% effective Monday. The business, which is one of the largest Indian grocery stores in California, will have to raise prices on imported Indian products. 'We'll have to pass that on to the consumer,' he said. 'There's not really any way around that.' The grocery store, which has two locations in Artesia, has been owned and operated by family since 1982. Keray said he anticipates customers will buy less, but they'll still need basic grocery items. 'People will cut back, so we'll feel a bit of a pinch,' he said. 'It's getting more and more expensive to do business day by day. It's not going to be easy for the smaller guys.' Artesia's Little India area is a cultural hub for the community, and it's one of the largest Indian enclaves in Southern California. Artesia City Councilmember Zeel Ahir said the strip of businesses along Pioneer Boulevard is the 'heart and soul' of the area for Indians. 'It provides a sense of warmth and a homely feeling to know that the goods that were available in India for some immigrants are available here as well,' said Ahir, who has lived in the area for all her life. India 'is our friend,' Trump said on his Truth Social platform announcing the taxes, but its tariffs on U.S. products 'are far too high.' Trump's announcement of a 25% tariff on Indian goods on Wednesday came after a universal baseline tariff of 10% on imports from all foreign countries has already been in place for months. Indian goods exports to the U.S. totaled more than $87 billion in 2024, according to the Office of the United States Trade Representative. The trade deficit with India was $45.7 billion last year, up more than 5% from 2023. Pharmaceuticals, jewelry, textiles, spices and food products are among the common imports. The Trump administration maintains that tariffs will 'strengthen the international economic position' of the United States and protect American workers. In addition to the 25% tariff on its products exported to the U.S., India is also facing an unspecified penalty for buying Russian oil. 'I don't care what India does with Russia,' Trump wrote in a Truth Social post on Thursday. 'They can take their dead economies down together, for all I care.' Negotiations between the two countries continue, but local businesses are still scrambling to cope with the change in operations. Beyond Artesia, which is in southeast Los Angeles County, the city of Los Angeles has several Indian grocery stores, apparel stores and other businesses that depend on Indian imports. Dalbir Singh Ghotra, the owner of Kavita Grocery in the Palms neighborhood, said the tariff would 'spell disaster for small businesses like us.' After running the grocery store for the past three decades and keeping doors open through tough economic periods, Ghotra said he's already seen sales drop recently as customers have tightened their belts amid growing economic uncertainty. Just down the road at Bollywood Styles, a clothing and accessory store, owner Sneh Prasad said recent sales have dipped to the lowest levels she's recorded in roughly 18 years, she said. With the vast majority of her inventory imported from India, Prasad is concerned about what lies ahead. 'Businesses have already become harder for mom-and-pop stores like us,' she said. 'If the import prices go up, I do not know how we will survive since sales may fall drastically.' Many business owners said they have already seen foot traffic and sales slow down this summer. Some believe the downturn could be because customers are afraid of possible immigration raids targeting businesses that attract primarily immigrant customers. 'Ninety-nine percent of our customer base is Asian, from the Indian subcontinent, and [some] are not sure if they would even be able to live here,' said Krutika Pranav, the manager at Highglow Jewelers in Artesia. 'All of that adds to the fear, and we've seen a tremendous slowdown because of that. The tariffs will make it even worse.' Prashant 'Peter' Patel, the president of the Indian American Business Assn. and Chamber, which is based in Florida but has ties to small businesses across the country, said Indian business leaders have a general sense of anxiety. He remains hopeful that the two countries' leaders will reach a resolution soon. 'This is the time for diplomacy and pragmatism,' he said. 'Our goal is not to politicize this issue, but to represent the voice of those working hard every day to grow businesses that serve, employ and uplift communities.' Others were not as optimistic. 'It's like a chess game, to see who makes the first move,' said Keray, the owner of Pioneer Cash & Carry. 'It's just a matter of how far it goes before the consumer is the one that becomes a victim of all this.'
The Intercept
20 minutes ago
- The Intercept
Guess Who's Eligible for Student Loan Forgiveness: New ICE Agents
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Ronald Reagan and his political allies slashed the budget for public universities, forcing them to charge tuition, arguing that students had become too radical. 'We are in danger of producing an educated proletariat. That's dynamite! We have to be selective on who we allow [to go through higher education],' Reagan's education adviser, Roger A. Freeman, told the San Francisco Chronicle. 'There is a very robust history about how debt has been used as a lever of social control,' said Yu. '[Student debt] is a force that can keep people in place, keep people in line. … That is why it is being wielded as a weapon against people who work in fields that they don't like, and rewarding folks who work in fields that they do like.'
Business Insider
an hour ago
- Business Insider
A 'seismic' 39% tariff on Switzerland is rocking the watch world, and even pre-owned Rolexes could see price hikes
Watch collectors might want to skip the Rolex boutique and head straight for the pawn shop this year. That is, if the Trump administration's new 39% tariff on goods from Switzerland sticks. The White House released updated tariff plans on Thursday, raising the rate from the proposed 31% announced earlier this year. The tariff escalation caught the watch community off guard. Switzerland is a manufacturing hub for luxury watches like Rolex and Cartier. Eugene Tutunikov, CEO of watch marketplace Swiss Watch Expo, told Business Insider the announcement "was a complete shock" and that "its effects will be immediate." Leading brands, including Rolex, have already raised prices in the US this year, likely in response to tariffs, Morgan Stanley analysts wrote in a July report about the Swiss watch market. US imports of Swiss goods have faced a 10% baseline tariff since April. A new 39% tariff on Swiss imports to the US would put more pressure on luxury watchmakers. That could lead to higher prices on Swiss-made goods shipped to the US, or less inventory for American shoppers. While the Swiss government could still try to negotiate, the tariff is currently set to take effect on August 7. Collectors and watchmakers may soon have to reckon with this new reality. Joshua Ganjei, CEO of watch marketplace European Watch Company, thinks more shoppers will turn to pre-owned models of high-end watches like Rolexes over brand-new ones. After all, a secondhand watch from a US-based seller won't face the added cost of a new Swiss-made model shipped from overseas. "For many American collectors, the 39% tariff instantly turned new releases from Swiss brands into a luxury few can justify," Ganjei said. According to the Morgan Stanley report, pre-owned watch dealers have reported an increase in demand this year since Swiss-made brands began raising their prices in the US. Prices in the secondhand market have been falling since mid-2022, though the rate of decline has narrowed. Pre-owned watches could also get more expensive, though. While the inventory already in the US won't face tariffs, heightened demand could drive up prices on the secondary market as well. Tutunikov said he thinks the pre-owned market will react to higher tariffs "much faster" than large retailers and hike prices sooner. He expects prices on the secondary market to jump as much as 10% in the next month and potentially reach up to 35% in the next six months, "as demand overwhelmingly shifts to available inventory." "This isn't just a tax; it's a seismic event that will cause a stark divergence between the new and pre-owned markets," Tutunikov said.
