Rapper Nicki Minaj and actor Dean Cain are set to join a "Shark Tank"-style competition at the White House, where five entrepreneurs will pitch their ventures for a share of a $1 million prize pool. The event is scheduled for September 18 in Washington, D.C., according to the Small Business Administration (SBA).
Minaj will serve as a judge alongside private-equity executive Grant Cardone and Joe Gebbia, co-founder of Airbnb and the current White House chief design officer. Cain, known for his role as Superman in the 1990s television series "Lois & Clark: The New Adventures of Superman," is slated to host the competition.
SBA Administrator Kelly Loeffler stated that the judges, described as "great American entrepreneurs," will enhance the finale of the "Million Dollar Pitch Competition." She added that their diverse experiences in building global brands, managing portfolios, and launching innovative platforms provide a unique real-world business perspective.
The competition, launched earlier this year by the Trump administration as part of the nation's 250th anniversary celebrations, received submissions nationwide. Clover, a payment processing company, is funding the $1 million prize money.
The five national finalists are Compotech, Inc. from Brewer, Maine; Winton Machine of Suwanee, Ga.; Plas-Tech Tooling in Garner, Iowa; Red River based in Gillette, Wyo.; and VetPowered LLC from San Diego, Calif.
The winner will receive $400,000, with subsequent prizes of $250,000, $150,000, $125,000, and $75,000 for second through fifth place, respectively. All finalists will receive a reward.
The event format is reminiscent of the reality television show "The Apprentice," which starred President Trump and focused on aspiring business professionals competing in challenges. The SBA spokesperson confirmed that the competition will be aired on television and streamed online, with further viewing details to be announced.
Both Minaj and Cain have publicly expressed support for President Trump. Minaj previously announced a financial contribution to fund his tax-advantaged investment accounts for children. Cain has also met with the president.
This event follows other notable gatherings hosted by the administration, including a mixed martial arts competition on the South Lawn.