Black women are getting the support they deserve thanks to Goldman Sachs.
The Goldman Sachs Group, Inc. announced a $10 billion commitment as a part of its One Million Black Women initiative following an Advisory Council meeting on Jan. 12. The collective pool of 17 business and community leaders includes notable names such as Secretary Condoleezza Rice, Issa Rae, and both Stephen and Ayesha Curry.
The financial backing from Goldman Sachs will support One Million Black Women’s mission to funnel healthcare, job creation, workforce development, education, affordable housing, digital connectivity, financial health, and access to capital to Black women, according to its press release.
“This next round of funding strategically connects the dots across several One Million Black Women impact areas and not only supports the infrastructure that Black women and their families need to thrive but has the potential to uplift communities and address generations of racial and gender inequities,” said Margaret Anadu, Global Head of Sustainability and Impact for Goldman Sachs Asset Management, according to a press release. “We are focused on deploying Goldman Sachs resources in the most effective and impactful ways, and so we are thrilled to support these entrepreneurs and organizations who have a demonstrated track record of supporting their communities.”
The King Center, Curry Foundation, & More To Benefit
The King Center will be one of the beneficiaries of the partnership. The investment will support the launch of its Beloved Community Leadership Academy in 2024. It will also support Stephen and Ayesha’s Eat. Learn. Play. Foundation to secure hires for Black woman-owned restaurants and provide meals to those in need. In addition, 500,000 books will also be distributed at Eat. Learn. Play. Town Libraries and Eat. Learn. Play. branded bookshelves in local Black-owned businesses, according to a press release.
More beneficiaries listed include New Leaders and The Tory Burch Foundation. Philanthropic grants will be distributed to six organizations: Black Girls Breathing, BlackFem, Corner to Corner, Crittenton Services of Greater Washington, Jeremiah Program, and The Fund for the School District of Philadelphia.
Goldman Sachs' Will Endorse Future Research To Invest In Black Women
Alongside Goldman Sachs’ endorsement backed by leaders, it hopes to further invest in Black women and their families through additional research and measures. The future research from The Ruth J. Simmons Center for Race and Justice at Prairie View A&M University, Urban Institute, and The Center for Racial Justice at the University of Michigan’s Gerald R. Ford School of Public Policy, will be backed to support additional investments across One Million Black Women.