While debates over diversity policies in corporate America intensify, new data shows that white male CEOs have been among the biggest financial beneficiaries of these initiatives. Farient Advisors, a compensation consulting firm, reports that 28 CEOs received diversity-linked bonuses last year, with white men making up the majority of recipients. Collectively, these executives earned nearly $5 million for achieving diversity, equity, and inclusion (DEI) goals. Top CEOs See Six-Figure Diversity Payouts American Airlines CEO Robert Isom topped the list with a $520,000 bonus tied to the airline’s DEI targets. He
Boston Celtics player Jaylen Brown created a STEM program for middle and high school students in collaboration with the Massachusetts Institute of Technology (MIT). Through his 7uice Foundation, Brown launched the Bridge Program at MIT’s Media Lab, a four-day camp introducing Boston’s underserved youth to AI, synthetic biology, space exploration, and more. Bridge Program: Hands-On STEM Learning Aimed at students in grades 8–12, the Bridge Program offers a STEAM-based curriculum covering science, technology, engineering, arts, and math. Brown co-founded the program in 2021 with his family, and the MIT Media
Facing rising scrutiny and backlash, more than half of companies are changing how they present their diversity, equity, and inclusion (DEI) initiatives, according to recent data from the Conference Board. A survey of over 60 executives revealed that 50% have adjusted DEI terminology to reduce an emphasis on racial diversity, with 20% more considering similar changes. Notably, “equity” is frequently being omitted as it’s perceived as the most controversial term. A Response to Legal and Social Pressures This shift follows increased pressure from conservative activist groups and legal challenges. The
The Local Initiatives Support Corporation (LISC) announced that the Entrepreneurs of Color Fund (EOCF) has surpassed its $500 million goal in small business lending, more than two years ahead of schedule. With this achievement, LISC is doubling its ambition, setting a new benchmark of $1 billion in financing to support underserved businesses and communities across the US. Expanding Access to Capital for Minority Entrepreneurs The EOCF addresses capital gaps faced by minority-owned businesses, which often struggle to secure funding. Black and Latino entrepreneurs, in particular, are denied loans at twice
The NAACP has announced the launch of NAACP Capital, a new fund of funds aimed at empowering fund managers and startups focused on closing gaps facing communities of color. Developed in collaboration with Kapor Capital, Kapor Center, and nine venture fund managers, the fund seeks to raise $200 million to reshape the innovation and investment landscape. Driving Impact Through Inclusive Investing The initiative is part of the #KeepAdvancing campaign, a modernized approach to civic engagement aimed at building a more inclusive economy. “Investment is the backbone of impact, and impact
Microsoft is struggling to retain its diverse workforce, with increasing numbers of women, Black, and Latine employees departing the company. According to Microsoft’s latest diversity and inclusion report, female employees accounted for 32.7% of all exits globally in the fiscal year ending June 30, 2024, up from 31% the previous year. In the US, Black and Latine employees also saw significant increases in departures, with Black employees making up 10% of exits (up from 8.7%) and Latinx employees comprising 9.8% of exits (up from 8%). Poaching and Business Shifts Cited
Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
Black Girl Vitamins (BGV) has announced a $100,000 scholarship fund dedicated to Black women pursuing medical careers at Historically Black Colleges and Universities (HBCUs). This two-year initiative, part of their broader mission to support health equity, aims to increase representation in healthcare by easing the financial burden for aspiring medical professionals. Investing in Future Healthcare Leaders BGV’s scholarship program aligns with their mission to create a new generation of Black women in medicine, nursing, pharmacy, and public health. The scholarship is open to Black women enrolled in accredited medical programs
Target has introduced ÜNOS by Sz, a new line of sneakers that expands to fit growing feet. The expandable sneakers are the brainchild of Dr. D’Wayne Edwards, a footwear designer and president of Pensole Lewis College, a design-focused HBCU in Detroit. Edwards has over 30 years of experience designing for top brands like Nike, L.A. Gear, and icons like Tupac and Michael Jordan, Notorious B.I.G., Snoop Dogg, and Nas. A Unique Approach to Affordable Footwear ÜNOS by Sz, which stands for “U Need One Size,” offers more than 15 styles
Klean Energy Kulture (KEK), an Atlanta-based nonprofit dedicated to driving clean energy adoption in Black and Brown communities, has launched its inaugural program, “Electrify the City.” This initiative aims to fast-track the integration of renewable energy in disinvested neighborhoods. It focuses on transforming cultural landmarks like salons, churches, entertainment venues, and community centers into sustainable energy hubs. Powering Cultural Spaces and Communities Through “Electrify the City,” KEK will partner with businesses, residents, and cultural leaders to install solar panels and electric vehicle (EV) charging stations in high-traffic community venues. The
