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Michael Jordan Leads $26M Investment In aXiomatic To Enter eSports

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NBA legend Michael Jordan led a Series C funding round of $26M in Team Liquid, a subsidiary of aXiomatic. The other investor who joined the ownership group was Declaration Capital, a family office investing on behalf of David Rubenstein.

Jordan who is arguably the greatest NBA player of all time and won six championships in his career also has deals with Nike [NKE], Gatorade and Hanes. He is a majority stakeholder in Charlotte Hornets, a franchise valued at $1.05B. Jordan’s net worth is pitched at a whopping $1.7B.

The eSports industry is expected to witness robust growth

This investment in aXiomatic marks Michael Jordan’s foray into the eSports industry. Jordan released a statement saying, “I’m excited to expand my sports equity portfolio through my investment in aXiomatic. Esports is a fast-growing, international industry and I’m glad to partner with this great group of investors.”

aXiomatic is the parent company of eSports organization Team Liquid. According to Forbes, aXiomatic is the second most valuable eSports company in the world behind Cloud9.

The eSports segment is a high growth one and is estimated to grow by 38% year-over-year to $905.6M by the end of 2018. Traditional gaming companies such as Activision Blizzard [ATVI] and Electronic Arts [EA] are also looking at eSports to drive revenue growth.

The worldwide eSports audience is estimated to reach 580M by 2021 and this will propel the eSports market close to $2B. Companies such as Amazon’s [AMZN] Twitch have already snagged multi-million dollar broadcasting deals of popular eSports leagues.

ENTREPRENEURS

INFOGRAPHIC: What You Can Learn From Super Investor Warren Buffett

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With a net worth that crosses a whopping $84B, it’s hard to question Warren Buffett’s investment moves.

Here’s how he grew $120 to a massive investment empire, worth tens of billions.

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[VIDEO] Tony Robbins: Here’s How To Invest Before You’re 30

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As a millennial in today’s consumer-driven world, budgeting and managing your paychecks can be tricky.

Thinking like a consumer and not the owner of the product can prove to be a big difference to building your investments. Instead of owning the latest Apple device, you’ve got to target owning a part of Apple, and this simple move can be the first step towards becoming a better manager of your wealth.

Here are two incredibly important money habits to foster that millionaire author Tony Robbins banks on (and you cannot afford to miss them).

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BREAKING: WealthLAB Co-Founder Makes Forbes 30 Under 30 List

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Forbes Africa just unveiled its fifth annual “30 under 30” list, highlighting the top young entrepreneurs, innovators and gamechangers.

And guess what: WealthLAB co-founder Odunayo Eweniyi is on it. See the full Forbes list here.

Alongside co-founders Joshua Chibueze, 26, and Somto Ifezue, 28, Odunayo built PiggyVest, a fintech app that’s helped over 230,000 African Millennials invest and save over $15M. 

“PiggyVest was born out of the need to help people create a sustainable means of saving,” Odunayo told Forbes. PiggyVest users currently earn 10-13% on savings.

Just last May, PiggyVest—then known as Piggybank—closed a seed round, raising $1.1M. In doing so, Odunayo became one of under 30 Black women to raise over $1M in startup capital.

While the app started as a digital piggy bank for savers, Odunayo told TechCrunch the goal was to become a “financial warehouse” where other financial providers “can plug in their services for [PiggyVest] users.”

That vision recently came to life with the launch a new investment feature called “Investify,” which pays around 25% depending on the investment opportunity.

The Forbes distinction comes on the heels of an impressive recent run of awards for the young entrepreneur.

In March, Odunayo earned an award from Forbes as one of the top young “wealth creators” in Africa. Shortly after, Odunayo was named 2019 SME Entrepreneur of the Year in Wealth and Society in West Africa.

Prior to founding PiggyVest, Odunayo co-founded PushCV, the largest job database in Africa.

“I’ve always wanted to make an impact. I didn’t know how I would do it, but i felt a compulsion to.”Odunayo told Black Enterprise in a recent interview.

In addition to PiggyVest, Odunayo’s co-founded WealthLAB (yes, this WealthLAB) with NYC-based investor-entrepreneur Philip Michael. The two also invest in women —and minority run startups in the US.

Forbes Africa named 120 entrepreneurs across four categories: trade, technology, innovation, and sport. “I’m honored but I’m just ready to work,” Odunayo said when asked about the award. “I’m already thinking about what’s next.”

Well, alright then. Hit her up and congratulate her on IG here! 

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