Black Wealth Watch: Pinky Cole’s Former CFO Faces Fraud Charges, Shaq Expands Into Women’s Basketball, Will.i.am Teaches AI At ASU

Recent developments in Black business, technology, and sports highlight a period of significant transition, ranging from legal challenges in the restaurant industry to expanding investments in women’s professional athletics and artificial intelligence education. According to reports from Essence published on May 9, 2026, these shifts reflect broader trends in how wealth is managed, how new technologies are integrated into academia, and how information is consumed by younger generations.

Former Bar Vegan CFO Indicted on Fraud Charges

Aaron Mattison, the former chief financial officer of Bar Vegan, has been indicted in Georgia on multiple felony charges. The indictment includes counts of money laundering, first-degree forgery, and theft by taking.

Prosecutors allege that Mattison utilized fraudulent financial documents to divert more than $87,000 from the company into his personal accounts. The state claims Mattison conducted a series of withdrawals totaling more than $24,000 over the course of nearly a year, with individual transactions of approximately $600. These funds were reportedly moved through multiple accounts in an effort to conceal the origin and destination of the money.

The restaurant’s founder, Pinky Cole, has not been charged in connection with the indictment. Cole is currently focused on transitioning Slutty Vegan toward a franchise model following a Chapter 11 bankruptcy filing earlier in 2026.

Shaquille O’Neal Expands Dunkman Brand into Women’s Basketball

Shaquille O’Neal is expanding the reach of his Dunkman brand through a new partnership with the UPSHOT League, a professional women’s basketball league. The Dunkman platform, which includes a professional dunking league in collaboration with TNT Sports and a dedicated apparel line, will provide the full outfitting for the UPSHOT League.

The UPSHOT League is scheduled to begin its inaugural season on May 15, 2026. The league will launch with four teams located in the following cities:

• Jacksonville
• Charlotte
• Savannah
• Greensboro

League officials have confirmed that two additional cities are already secured for the following season. O’Neal has frequently advocated for increased visibility and resources for women’s sports.

“It’s about time women’s basketball is being recognized. I’m a big fan—these players can really play.”

Shaquille O’Neal

will.i.am Completes AI Course at Arizona State University

Black Eyed Peas frontman will.i.am has completed his first semester as a professor at Arizona State University’s GAME School. He taught a 15-week course titled “The Agentic Self,” which focused on the understanding and utilization of artificial intelligence agents.

The course was conducted across two locations: will.i.am’s studio in Hollywood and the ASU campus in Tempe. The student body consisted of individuals at various life stages, resulting in a diverse range of AI-powered projects. These included the development of tools designed to help veterans navigate government benefits and the creation of AI agents intended to make specific African languages more accessible, addressing a gap in prioritization by major global tech firms.

While promoting the utility of AI, will.i.am has acknowledged the unsettled nature of the technology’s rapid pace and the lack of preparation among the general adult population. A second semester of the course is planned for future enrollment.

Zoom Launches Grants for Solopreneurs

Zoom has introduced the Solopreneur 50 program, a grant initiative designed to support independent founders who operate without external investors or corporate safety nets. The company has awarded $30,000 each to five independent founders, totaling $150,000 in funding.

The grants are provided without conditions on how the funds are spent. Selection was handled by an external panel that evaluated applicants based on sustainability and impact. In addition to the financial award, the winners receive access to Zoom’s technical resources and professional mentorship network.

Study Finds Shift in Teenage News Consumption

A comprehensive study by the Media Insight Project indicates a significant shift in how younger audiences access news. The research was a collaboration between several institutions, including the American Press Institute, AP-NORC, the University of Maryland, and Northwestern’s Medill School.

The findings reveal that 81 percent of teenagers turn to independent creators and influencers for news at least some of the time. This trend extends beyond Gen Z, as 57 percent of all surveyed age groups reported using influencers as a news source. The data suggests that while traditional media outlets remain active, they are no longer the primary point of entry for news for a majority of the youth population.