Welcome to Black Wealth Watch, where we round up the biggest stories in Black business and economic news each week — the wins, the setbacks, the deals getting done, and the conversations we should be having about money, power, and who actually gets a seat at the table.

Chile, this week was not playing, so don’t judge me for getting this to you on Saturday, instead of Friday. Cardi B had people refreshing pages at 9am like it was Beyoncé tickets, and before most of us (yes, me too) got our hands on her products, they were sold out. Pat McGrath Labs finally had an exit from bankruptcy, but she had to give up her CEO seat to make it happen. Aliyah Boston signed the richest contract in WNBA history. The Obamas are going independent, which, good for them. Oh, and if the tariffs hit your business, you can finally file for that refund. Ready for some more?

Cardi B’s Grow-Good Beauty Sells Out in Under An Hour

Grow-Good Beauty went live on April 15, and if you blinked you missed it. Cardi spent three years working through labs and testing formulas before landing a six-piece collection that sold out in under 35 minutes, drawing from the hair traditions she grew up with in the Bronx and leaning on ingredients like moringa seed, castor oil, green banana, and aloe vera. She priced the entire line between $15 and $20, which tells you everything about who she actually built this for. “The way ya showed up for today’s Grow Good launch has me in real life tears,” she wrote after the sellout. Get on the waitlist at grow-good.com now, because the restock will move just as fast.

Pat McGrath Labs Exits Bankruptcy With A New Owner

Pat McGrath Labs came out of Chapter 11 on April 17 when a Florida judge signed off on the restructuring plan, putting investment firm GDA Luma in as the majority owner. As part of the deal, Pat McGrath moves from CEO to Chief Creative Officer, which means she stays creatively involved but hands over the executive title of the company she built from scratch. This was a brand that hit a $1 billion valuation by putting deep skin tones at the center when most of the industry had not thought to do that yet, and the woman who made that happen is no longer the one in the top seat. The brand is still standing, and we are genuinely rooting for it.

Aliyah Boston Secures the Richest Contract in WNBA History

On April 18, the Indiana Fever signed Aliyah Boston to a four-year, $6.3 million extension, making it the largest contract in WNBA history. She is also the first player to sign under the EPIC provision in the new CBA, which opens supermax extensions for rookie-scale players who hit specific performance thresholds, and Boston hit all of them, earning three All-Star nods in her first three seasons. A lot of the attention around that Fever roster goes to Caitlin Clark, and deservedly so, but Boston is the reason that team functions the way it does. We love to see her get her coins.

The Obamas Are Taking Higher Ground Independent

After eight years with Netflix, the Obamas are done with exclusive deals. When their current first-look arrangement expires later this year, they are not signing another one anywhere, and President Obama confirmed it at a HistoryTalks event in Philadelphia last weekend, saying Higher Ground is “transitioning to a more independent future where we can work with a bunch of different studios.” The company has already been quietly developing projects at HBO, Apple, Amazon, FX, and Disney, and with the American Factory Oscar and six Emmy wins under their belt, nobody is turning them away. When you have built what they have built, you do not need to be locked into one table.

Tariff Refunds Are Open — Here’s What To Do

If you’ve been waiting on your tariff refund, the wait is over. The CAPE portal went live on April 20 through U.S. Customs and Border Protection, and importers can now submit claims on a share of the $166 billion in duties collected under the IEEPA tariffs the Supreme Court struck down in February. Refunds are expected within 60 to 90 days, though the process is not straightforward, and small business owners are navigating it without the legal teams that larger companies already have on this. If you imported goods under those tariffs, get with a licensed customs broker before you file anything and talk to your accountant about how the refund gets reported. Do not leave that money sitting there.

The post Black Wealth Watch: Black Wealth Watch: Cardi B’s Haircare Sells Out In Minutes, Pat McGrath Steps Down As CEO, And The Obamas Exit Netflix Deal appeared first on Essence.