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I am proud to have been accepted to the newest cohort of the Goldman Sachs One Million Black Women: Black in Business program!
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Goldman Sachs One Million Black Women is a $10 billion investment commitment with $100 million in philanthropic capital to drive economic opportunity for one million Black women by 2030. One Million Black Women is a first-of-its-kind comprehensive investment focused on key moments in Black women’s lives from early childhood through retirement, increasing opportunity where investment could make all the difference. To date, One Million Black Women has deployed nearly $3 billion in investment capital and $39.4 million in philanthropic capital, laying the groundwork to impact the lives of over 300,000 Black women.
During our orientation, the New York Stock Exchange welcomed Goldman Sachs One Million Black Women: Black in Business (NYSE: GS) on Tuesday, September 10, 2024, to celebrate the start of the latest cohort of 300 scholars. To honor the occasion, Asahi Pompey, President of the Goldman Sachs Foundation, joined by Tara Dziedzic, NYSE Head of US Listings, ring The Opening Bell®.
Goldman Sachs research has shown that one of the fastest ways to accelerate change and effectively begin to address the racial wealth gap is to listen to and invest in Black women.
Reducing the earnings gaps for Black women has the potential to create 1.2 – 1.7 million US jobs, and to increase the annual GDP by $300 – $450 billion in current dollars.
Imagine Black women closing the 90% wealth gap their households faced compared with white households.
Imagine Black women’s wages on par with those of white women, currently 15% higher, or white men, 35% higher.
Imagine Black women entrepreneurs receiving more than 0.3% of venture capital funding.
Goldman Sachs research has shown that one of the fastest ways to accelerate change and effectively begin to address the racial wealth gap is to listen to and invest in Black women. Our Black Womenomics research focuses on the wealth gap, its relationship with these economic disadvantages, and the public and private investment opportunities to help close these gaps. Read the full report
Additionally, Goldman Sachs Research published a second Black Womenomics report, Black Womenomics: Equalizing Entrepreneurship, which explores the barriers to entrepreneurship faced by Black women.
