{"id":572604,"date":"2021-06-24T10:52:05","date_gmt":"2021-06-24T14:52:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=572604"},"modified":"2021-06-24T10:52:07","modified_gmt":"2021-06-24T14:52:07","slug":"one-year-after-george-floyd-americas-biggest-corporations-earmark-37-billion-for-racial-equity","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/one-year-after-george-floyd-americas-biggest-corporations-earmark-37-billion-for-racial-equity\/","title":{"rendered":"One Year After George Floyd, America\u2019s Biggest Corporations Earmark $37 Billion For \u2018Racial Equity\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fone-year-after-george-floyd-americas-biggest-corporations-earmark-37-billion-for-racial-equity%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=572604&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1218644435.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>In the past year, American corporations have earmarked over $37 billion toward social justice initiatives.\u00a0<\/span><\/p>\n<p><span>The death of George Floyd led to a widespread embrace of social justice ideology within America\u2019s <\/span><a href=\"https:\/\/www.dailywire.com\/news\/one-year-later-how-the-death-of-george-floyd-changed-5-american-institutions\"><span>institutions<\/span><\/a><span>. Beyond governments, universities, and media outlets, American corporations nodded to racial activists with large financial commitments.<\/span><\/p>\n<p><span>According to an analysis by The Daily Wire, <\/span><a href=\"https:\/\/fortune.com\/fortune500\/2021\/search\/\"><span>Fortune 100<\/span><\/a><span> companies \u2014 the largest firms in the United States by revenue \u2014 allocated over $37 billion toward racial equity initiatives. The allocations represent less than 0.5% of the companies\u2019 collective $9 trillion of earnings from fiscal year 2020.<\/span><\/p>\n<p><span>The vast majority of these contributions arise from banks designating investment funds toward minority-led projects. <\/span><a href=\"https:\/\/www.jpmorganchase.com\/news-stories\/jpmc-commits-30-billion-to-advance-racial-equity\"><span>JPMorgan Chase<\/span><\/a><span> alone will commit $30 billion over the next five years \u201cto provide economic opportunity to underserved communities, especially the Black and Latinx communities.\u201d <\/span><a href=\"https:\/\/newsroom.bankofamerica.com\/content\/newsroom\/press-releases\/2021\/03\/bank-of-america-increases-commitment-to-advance-racial-equality-.html\"><span>Bank of America<\/span><\/a><span>, <\/span><a href=\"https:\/\/www.citigroup.com\/citi\/news\/2021\/210426b.htm\"><span>Citi<\/span><\/a><span>, and <\/span><a href=\"https:\/\/stories.wf.com\/wells-fargo-ceo-a-watershed-moment\/\"><span>Wells Fargo<\/span><\/a><span> will follow suit with $1.25 billion, $1 billion, and $50 million, respectively.\u00a0<\/span><\/p>\n<p><span>Likewise, the largest corporations in the United States allocated hundreds of millions of dollars toward their social equity programs.<\/span><\/p>\n<p><span>Alphabet \u2014 the parent company of <\/span><a href=\"https:\/\/blog.google\/inside-google\/company-announcements\/commitments-racial-equity\"><span>Google<\/span><\/a><span> \u2014 added to subsidiary YouTube\u2019s $100 million equity fund with $175 million in new grants. Beyond funding African-American educational opportunities, the company is attempting to improve \u201cBlack+\u201d representation at senior levels by 30% over the next four years.<\/span><\/p>\n<p><a href=\"https:\/\/cvshealth.com\/news-and-insights\/press-releases\/cvs-health-commits-nearly-600-million-to-address-racial-inequality\"><span>CVS Health<\/span><\/a><span> will spend $600 million \u201cto advance employee, community and public policy initiatives that address inequality faced by Black people and other disenfranchised communities.\u201d The healthcare conglomerate will use the funds for \u201ccompany-wide training and corporate culture programs, with a focus on promoting inclusion,\u201d \u201cincreasing access to affordable housing, which is inextricably linked to health,\u201d and \u201cpartnerships with civil rights and social justice organizations to support shared goals.\u201d<\/span><\/p>\n<p><span>In the first disbursement of its $100 million pledge toward social justice, retail giant <\/span><a href=\"https:\/\/corporate.walmart.com\/newsroom\/2021\/02\/01\/the-walmart-org-center-for-racial-equity-awards-over-14-million-in-first-round-of-grants\"><span>Walmart<\/span><\/a><span> donated $14.3 million to organizations such as the Association of Black Foundation Executives, Harlem Children\u2019s Zone, and the American Heart Association\u2019s Bernard J. Tyson Impact Fund. E-commerce tycoon <\/span><a href=\"https:\/\/www.aboutamazon.com\/news\/policy-news-views\/amazon-donates-10-million-to-organizations-supporting-justice-and-equity\"><span>Amazon<\/span><\/a><span> gave a total of $10 million to Black Lives Matter, the ACLU Foundation, the Equal Justice Initiative, and the Lawyer\u2019s Committee for Civil Rights Under Law.<\/span><\/p>\n<p><span>Indeed, many firms\u2019 contributions centered upon donations to activism networks. For example, <\/span><a href=\"https:\/\/www.newyorklife.com\/newsroom\/csr-foundation-donates-naacp-fund\"><span>New York Life Insurance<\/span><\/a><span>, <\/span><a href=\"https:\/\/www.globenewswire.com\/news-release\/2020\/06\/10\/2046460\/0\/en\/Albertsons-Companies-Commits-5-Million-to-Social-Justice.html\"><span>Albertsons<\/span><\/a><span>, <\/span><a href=\"https:\/\/www.caterpillar.com\/en\/news\/corporate-press-releases\/h\/foundation-equal-justice.html\"><span>Caterpillar<\/span><\/a><span>, and <\/span><a href=\"https:\/\/www.aig.com\/about-us\/knowledge-insights\/standing-as-allies-with-black-communities\"><span>AIG<\/span><\/a><span> respectively gave $2.5 million, $2 million, $500,000, and $250,000 to the NAACP.\u00a0<\/span><\/p>\n<p><span>A handful of large companies \u2014 such as Berkshire Hathaway and ExxonMobil \u2014 differed from their peers by not publicly announcing any social justice commitments. Berkshire Hathaway CEO Warren Buffett, for instance, has openly expressed his distaste for corporate wokeness.<\/span><\/p>\n<p><span>The longtime investor once contradicted Wall Street orthodoxy by <\/span><a href=\"https:\/\/www.ft.com\/content\/ebbc9b46-1754-11ea-9ee4-11f260415385\"><span>telling<\/span><\/a><span> Financial Times that large corporations do not properly represent investors\u2019 interests when they bankroll social impact programs.<\/span><\/p>\n<p><span>\u201cThis is the shareholders\u2019 money,\u201d explained Buffett. \u201cMany corporate managers deplore governmental allocation of the taxpayer\u2019s dollar, but embrace enthusiastically their own allocation of the shareholder\u2019s dollar.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the past year, American corporations have earmarked over $37 billion toward social justice initiatives.\u00a0The death of George Floyd led to a widespread embrace of social justice ideology within America\u2019s &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2281199,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1218644435.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"One Year After George Floyd, America\u2019s Biggest Corporations Earmark $37 Billion For \u2018Racial Equity\u2019","footnotes":""},"categories":[],"tags":[],"class_list":["post-572604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1218644435.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"One Year After George Floyd, America\u2019s Biggest Corporations Earmark $37 Billion For \u2018Racial Equity\u2019","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/572604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=572604"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/572604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2281199"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=572604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=572604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=572604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}