The Goldman Sachs Group, Inc. announced a new investment initiative yesterday of more than $10 billion to advance racial equity and economic opportunity by investing in Black women.
The initiative, One Million Black Women, is named for and guided by the goal of impacting the lives of at least 1 million Black women by 2030.
It is being shaped by Black women within Goldman Sachs, alumna of the 10,000 Small Businesses program and partnerships with Black women-led organizations such as Alpha Kappa Alpha Sorority, Inc., Delta Sigma Theta Sorority, Inc., Zeta Phi Beta Sorority, Inc., Sigma Gamma Rho Sorority, Inc., National Council of Negro Women, Power Rising, Black Women’s Roundtable and the National Coalition on Black Civic Participation, Walker’s Legacy Foundation, Sistahs in Business Expo, and The Links, Inc.
“This initiative is transformational,” said Melanie Campbell, Convener of the Black Women’s Roundtable and President and CEO of the National Coalition on Black Civic Participation, a partner with Goldman Sachs on the program. “What Goldman Sachs is doing has the potential to materially impact the lives of Black women, their families and communities across the country.”
The investment will be grounded in the voices and experiences of Black women. Goldman Sachs and its partners will commit $10 billion in direct investment capital and $100 million in philanthropic capital over the next decade to address the dual disproportionate gender and racial biases that Black women have faced for generations, which have only been exacerbated by the pandemic.
Goldman Sachs Invests $10 Billion In New 'One Million Black Women'.
Why? “Because when Black women win, everybody wins.” https://t.co/3jj8Eu5Cef— Valerie Jarrett (@ValerieJarrett) March 10, 2021
Black women leaders across Goldman Sachs developed and will continue to lead this initiative alongside an Advisory Council of Black leaders, including:
- Melissa L. Bradley
- Rosalind G. Brewer
- Bill Bynum
- Melanie Campbell
- Thelma Golden
- Lisa P. Jackson
- Valerie B. Jarrett
- Lisa Mensah
- Dr. Valerie Montgomery Rice
- Marc H. Morial
- Dr. Dambisa Moyo
- Issa Rae
- Secretary Condoleezza Rice
- Dr. Ruth J. Simmons
- Darren Walker
“Our newly published research, Black Womenomics, suggests that no investment could have a bigger impact than unlocking the economic potential of Black women,” said David M. Solomon, chairman and CEO of Goldman Sachs.