Cheers to a great week in progress, ForbesBLK. Jabari here. I’m writing to you from sunny and hot New Orleans, the former home of NBA superstar Chris Paul. I received a call from Paul earlier this week to discuss business, basketball, family and the future. This is the second time in over a year that Chris and I have talked about business. The only difference this time is that he is now 40 years old, and it’s fair to assume he doesn’t have many years left in the NBA. During our 45-minute chat on The Enterprise Zone, it was encouraging to hear how Paul is already planning for post-retirement with his new business venture, The Chris Paul Collective. The LLC will house his various companies, investments, and nonprofit organization, The Chris Paul Family Foundation. It will also include Paul’s business verticals, including snack brand Good Eat’n and Los Angeles-based production company Ohh Dip!!! Entertainment. Additionally, Paul’s launch of the collective comes during National Black Business Month, which has long been important to the North Carolina-born native. Notable Black-owned businesses that attracted Paul as an investor include restaurant franchise Slutty Vegan, fintech platform Goalsetter, and Move, a footwear insoles brand. All told, the value of Paul’s business and investments being rolled into the TCPC is north of $50 million, according to people familiar with his business dealings. I’ll spare you all the details. Instead, be sure to watch the discussion. As always, there are insightful business lessons, especially when Paul explains what he learned by observing NBA team trainers, and his challenge to sports owners like billionaire Steve Ballmer. Enjoy another Chris Paul business conversation. Meanwhile, I’ll get back to working in the New Orleans heat and planning the ForbesBLK Summit this fall. My One Interesting Read: With access to bitcoin and other alternative assets, how our 401k could be at risk and offer high rewards thanks in part to this executive order, writes the Financial Times.
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