Power couple Will Smith and Jada Pinkett are making major moves in the sports and film industries.

Last week, Will and Jada became majority owners of the Philadelphia 76ers. In a press conference at the Palestra by the Sixers, Will Smith and Jada Pinkett were introduced as the new majority owners replacing now-minority interest owner, billionaire Joshua Harris.

The Smiths will take their place in ownership alongside David Blitzer (Co-Managing Owner and Alternate Governor of the NBA), CEO Adam Aron (also Alternate Governor of the NBA), Martin Geller, David Heller, Travis Hennings, James Lassiter, Marc Leder, Jason Levien, Michael Rubin, Handy Soetedjo, Erick Thohir, Art Wrubel, and Joshua Harris.

The NBA Board of Governors voted unanimously to approve the transfer of the majority stake from Harris to Hollywood’s “it” couple. Will and Jada were thanked for their interest in the future progress of the 76ers.

In other news…

In lieu of the debate on diversity and its lack of inclusion in the Academy of Motion Picture Arts and Sciences, the Smiths are taking a ground level approach to push the effort.

The couple has donated $30,000 to NYU’s undergraduate film program. The donation will help fund the projects of female filmmakers. In association with the Fusion Film Festival, the funding was given to Alik Barsoumian ($2K), Madelyn Miller ($2K), Jennifer Rudin ($2K), Jennifer Helen Coates ($2K), and Suzanne Egan ($2K). Two-student developed television projects will be given the remaining $20,000, with each student receiving $10K.