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Plus: From 'Poor As Hell' To Billionaire: How Tyler Perry Changed Show Business Forever

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Top Take-Aways

Elon Musk is now a centibillionaire—as well as the fifth-richest person in the world. Tesla stock soared Monday after a stock split, lifting Elon Musk’s net worth to $102.9 billion at the market close.

A critic of Rwandan President Paul Kagame was arrested on terrorism-related charges. Paul Rusesabagina, whose story inspired the Oscar-nominated 2004 film Hotel Rwanda, is considered a hero by many for sheltering over 1,200 Rwandans during the country's 1994 genocide.

A major operation is underway in Mauritius as a barge carrying oil from the stricken Japanese iron-ore vessel The Wakashio collided with a tug boat pulling it.

California lawmakers passed a bill requiring corporations to include a minimum number of underrepresented people on their boards, becoming the first state to pass this type of diversity quota for board membership.

Billionaire David Rubenstein wants to enable readers of his new book to see the full spectrum of assets and liabilities in leaders and inspire a younger generation. “Hopefully, you'll have better leadership out of all this,” he says.

South Korean boy band BTS has added a new record to their numerous achievements. Their new, all-English song “Dynamite” debuted in the top spot on the Billboard Hot 100 list, a first for a Korean act and a final step into pop superstardom.

Today's Must-Read

Mostly dismissed by the Hollywood establishment and even some other Black luminaries, Tyler Perry has succeeded for two reasons: He has honed a product that too many others viewed as destined for the discount bin. And he made sure to control it all.

The 51-year-old entertainer owns the entirety of his creative output, including more than 1,200 episodes of television, 22 feature films and at least two dozen stage plays, as well as a 330-acre studio lot at the edge of Atlanta’s southern limits.

He used that control to leverage a deal with ViacomCBS that pays him $150 million a year for new content and gives him an equity stake in BET+, the streaming service it debuted last September.

Forbes estimates Perry has earned more than $1.4 billion in pretax income since 2005, which he used to buy homes in Atlanta, New York, Los Angeles and Jackson Hole, Wyoming, as well as two planes.

Quite a lifestyle for a once-homeless playwright raised in poverty in New Orleans. Today, Forbes estimates his net worth at $1 billion, with a clear path to future membership in The Forbes 400.

“I mostly go on my gut and my instinct,” Perry says, explaining his method. “I like to challenge the system and see what I can do differently.”

See the full story here.

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