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.
This week brought representation wins in both academia and corporate retail, a policy shift that could help small business owners, and a temporary break for student loan borrowers who’ve been holding their breath. Here’s what you need to know.
Harvard’s Nasir Jones Fellowship Is Accepting Applications
Who ever thought that hip hop would take it this far? And by this far, meaning Harvard University. Founded in 2013 through the Hutchins Center for African & African American Research, the Nasir Jones Hip-Hop Fellowship remains the first academic fellowship ever named after a Hip-Hop artist, and it is now accepting applications.
The fellowship casts a wide net, so it doesn’t matter if you’re a filmmaker, a journalist, a musician, or deep in academic research on the diaspora, they want to hear from you. They pull fellows from Africa, the Caribbean, Europe, Latin America, everywhere Black culture has left its mark. So what started as Nas putting his name and resources behind something has turned into a way for people doing this work to get the funding and platform they need. Fellows are challenged to develop work and art, and according to Nas himself, that “speaks through American youth rather than speaks about and to them.” For those interested, you can apply here.
A Black Woman Just Became CEO Of Sam’s Club
There’s already lots to celebrate in 2026, and now there’s one more thing to add to the list: Latriece Watkins just became President and CEO of Sam’s Club (that’s Walmart’s warehouse club) starting February 1.
She’s put in over 20 years at Walmart, starting in real estate and eventually running merchandising for the whole U.S. operation (yes, a Black woman got to decide what products ended up in stores). Now she’s at Sam’s Club, where the big challenge is making people care about their private label brands the way they do about Costco’s Kirkland.
Black women make up less than 2% of retail executives, so when one of us gets a job running a multibillion-dollar company, we all get the job. Watkins is proof it can be done, and that opens things up for whoever’s next.
Congress Passes Bill To Help Small Businesses Access AI Training
On January 20, the House of Representatives passed the AI for Main Street Act in a landslide 395-14 vote. The bill now heads to the Senate, and if it passes, it will direct the Small Business Administration to offer AI training through existing small business centers nationwide.
The goal here is to help small business owners understand how to use AI tools safely, ethically, and effectively without getting overwhelmed or left behind. As Rep. Mark Alford explained, this isn’t about replacing people, but empowering them. “The expanding use of artificial intelligence across America comes with massive opportunities, as well as significant risks,” Alford said in the press release. “As big businesses—which have the financial and human resources needed to invest in this technology—continue to lead the development and adoption of AI, Main Street is being left behind. That’s why we’re introducing the AI for Main Street Act to provide small businesses with the resources, education, and training needed to utilize artificial intelligence.”
For Black-owned businesses that already face barriers to capital and resources, access to this kind of training could level the playing field in a business landscape that’s changing faster than most can keep up.
Student Loan Borrowers Get A Temporary Break From Collections
If you’re one of the millions of borrowers in default on federal student loans, the Department of Education just gave you a bit of breathing room. On January 16, the agency said it’s putting a hold on wage garnishments and tax refund seizures through the Treasury Offset Program… at least for now.
The pause comes as the department works to implement new repayment reforms under the Working Families Tax Cuts Act. How long will it last? That’s unclear. The Education Department hasn’t given a firm timeline, but officials say borrowers will have time to explore new repayment options rolling out in July 2026.
This news matters especially as tax season approaches. Millions of borrowers were bracing for the possibility of losing their refunds to debt collection, and that threat (however temporarily) has been lifted. If you’re in default, use this window to get your loans into good standing. Look into income-driven repayment plans or loan consolidation options that could keep you from falling back into the same situation once collections resume. The clock is ticking, even if we don’t know exactly how much time is on it.