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

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

By Kimberly Wilson ·Updated April 25, 2026 Getting your Trinity Audio player ready… 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…

Pat McGrath’s Beauty Brand Saved. Judge Approves Bankruptcy Exit as New Owners Take Over

A federal judge in Florida has approved the restructuring of Pat McGrath Labs, clearing the cosmetics brand to exit Chapter 11 bankruptcy and move forward under new ownership while keeping its founder in a leading creative position. Pat McGrath at the 2025 Beauty Inc. Awards held at Lavan Midtown on November 18, 2025 in New York, New York. (Photo by Maria Wurtz/WWD via Getty Images) The Brand Survives Pat McGrath Labs has emerged from Chapter 11…