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Posts tagged as “generational wealth”

Beyoncé Teams with Jewelry Designer Lorraine Schwartz, Creates Scholarship for Black Students to Gemological Institute of America

Beyoncé Teams with Jewelry Designer Lorraine Schwartz, Creates Scholarship for Black Students to Gemological Institute of America

By goodblacknews on May 1, 2021

According to the Gemological Institute of America (GIA), Beyoncé teamed up with jewelry designer Lorraine Schwartz to create the Beyoncé Knowles-Carter x Lorraine Schwartz GIA Scholarship, which goes to three members of the Black community for full tuition to earn GIA’s Graduate Gemologist diploma.

Audriana Osborne of Montgomery, Alabama, Shelton Bradford of Lake Forest, California, and Kulla Jatani, of Seattle, Washington were named the first three winners of the scholarship.

The aim of the scholarship is to creating more representation and eventually generational wealth for African Americans in the jewelry industry.

“I was impressed with their passion and the knowledge of gems that so many applicants displayed,” Beyoncé, who chose each of the scholarship recipients, said in a statement. “I am praying that this is just the beginning of opening more doors to diversity and raw inspiration in the jewelry industry.”

“Her work for the Black community is without limit and her efforts have inspired me and made me extremely proud to be her friend and partner on this initiative,” Schwartz said of Beyoncé.

Read more: https://discover.gia.edu/beyonce-x-lorraine-GIA-scholarship#home

Killer Mike’s Digital Banking Platform, Greenwood, Raises Nearly $40 million in Funding From Investors

Killer Mike’s Digital Banking Platform, Greenwood, Raises Nearly $40 million in Funding From Investors

By goodblacknews on March 29, 2021

[Photo: Killer Mike, Andrew Young, Ryan Glover via bankgreenwood.com]

Greenwood, the digital banking platform introduced last year by co-founders activist/rapper Michael “Killer Mike” Render and Bounce TV President Ryan Glover, has raised almost $40 million in Series A funding since its website launched in October 2020, according to a joint announcement last week.

The burgeoning financial startup — named for the Black business district in Tulsa, Oklahoma that existed in the early 20th century (before the 1921 Tulsa Massacre) and earned the nickname “Black Wall Street” — received investments from Truist Bank, Bank of America and JPMorgan Chase, PNC, Wells Fargo, Mastercard, Visa, and SoftBank, six of the seven biggest banks among others on a growing list of major financial institutions now invested in Greenwood.

https://youtu.be/xVbXaP-zHlE

“The net worth of a typical white family is nearly ten times greater than that of a Black family and eight times greater than that of a Latino family. This wealth gap is a curable injustice that requires collaboration,” said Greenwood Chairman Glover.

“I am elated that many of the world’s top fintech companies have invested in Greenwood and join us in this mission. The backing of six of the top seven banks and the two largest payment technology companies is a testament to the contemporary influence of the Black and Latino community. We now are even better positioned to deliver the world-class services our customers deserve.”

Greenwood delayed its planned January 2021 launch date because of overwhelming demand after more than 500,000 people signed up for an account before launch.

To learn more and join the Greenwood community and product waitlist, visit www.bankgreenwood.com.