Alicia Keys Launches $1 Billion Fund for Black-Owned Businesses
Singer Alicia Keys is using her platform to help further racial equality. She has initiated a new $1 billion endowment fund aimed at supporting Black businesses and populations.
Alicia Keys, is a 15-time Grammy Award-winning singer/songwriter/producer, an accomplished actress, a New York Times best-selling author, and an entrepreneur, Alicia is also a powerful force in the world of philanthropy and in the global fight against HIV and AIDS.
The new fund will come as several crises unfolds, around the world, including the global coronavirus pandemic and the protests against systemic racism and injustice that were sparked by the police killings of Breonna Taylor, George Floyd, and others.
We are already seeing the blatant injustices that are going on around us. As an artist, I’m always thinking about how can I use my platform to further racial equity. This fund is one of the answers and our goal is to empower Black America through investing in Black businesses, Black investors, institutions, entrepreneurs, schools, and banks in a way to create sustainable solutions.” Alicia said during an interview with Billboard
She proceeded, “The initial goal of $1 billion is to ensure a substantial commitment,” Keys explains. “Even with that it does not come close to closing the economic gap. The next steps are to reach out to different industries to invite them to invest in racial justice and create a multi-billion dollar endowment across business sectors
One of the first major contributors to the fund will be the NFL.
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