Stephen Curry and Leading Organizations Across U.S. Join NinetyToZero to Combat Racial Wealth Gap
NEW YORK, July 15, 2021 (GLOBE NEWSWIRE) -- Stephen Curry, seven-time NBA All-Star and two-time NBA MVP, and a group of leading CEOs and organizations across sectors are taking action to combat the 90% racial wealth gap between white and Black Americans by joining NinetyToZero. Through NinetyToZero, leaders and organizations across all pillars of our nation’s economy are moving together on a set of expert-driven, needle-moving actions to advance racial equity by growing Black talent and increasing capital to Black businesses. NinetyToZero provides a roadmap for companies and organizations to drive immediate change while acting as an engine for continued learning and growth through its research partnership with The Wharton School of The University of Pennsylvania to develop and share best practices.
“Uncovering solutions and creating opportunities is something I am profoundly committed to. Bridging the racial wealth gap is one of the biggest challenges of our generation and will require accountability across the board— from the biggest corporations to the local non-profits. I’m excited to be joining the Advisory of NinetyToZero, where we are setting a concrete approach that every organization can take to initiate meaningful progress now, and work to improve over time,” said Stephen Curry.
The new NinetyToZero partners committing to meet this challenge are:
- American Express, Stephen J. Squeri, Chairman and CEO
- Green Thumb Industries, Ben Kovler, CEO and Chairman
- United Way of New York City, Sheena Wright, President and CEO
- Washington Football Team, Jason Wright, President
These partners are joining the inaugural companies and organizations who launched NinetyToZero in April 2021: ACLU, Anthony Romero, Executive Director; Children’s Defense Fund, The Reverend Dr. Starsky Wilson, President and CEO; Goldman Sachs, David Solomon, CEO and Chairman; Starbucks, Kevin Johnson, president and ceo; Harvard T.H. Chan School of Public Health, Michelle Williams, Dean; Lord Abbett, Doug Sieg, CEO; McKinsey & Company, Liz Hilton Segel, Global Leader Industry Practices; Robin Hood foundation, Derek Ferguson, Interim CEO and COO; and SKDK, Josh Isay, CEO. Robin Hood foundation is incubating the initiative, and ultimately it will become independent of the foundation.
NinetyToZero brings deliberate, collective action to counteract centuries of racial and economic discrimination, to transform the economic landscape so that all Americans can thrive. When Black families have the means for economic security and agency, everyone benefits: it’s estimated that closing the racial wealth gap could increase the U.S. GDP by $1.5 trillion in the next 10 years.
“We stand with NinetyToZero and are committed to doing everything in our collective power to help close the racial wealth gap,” said Stephen J. Squeri, Chairman and CEO of American Express. “I’m proud of American Express’ progress across our diversity, equity and inclusion priorities, but there’s still more work to do. It’s our responsibility to help drive systemic change for underrepresented communities and to have an even greater positive impact on our society.”
“Green Thumb Industries is delighted to be included among these notable companies in our shared commitment to NinetyToZero. There is no clearer example of racial inequality than the cannabis industry. Black Americans are 3.6 times more likely to be arrested for marijuana infractions than white Americans, and over 40,000 cannabis prisoners are still incarcerated while regulated companies continue to grow and thrive,” said Ben Kovler, Founder, Chairman, and CEO of Green Thumb Industries. “Green Thumb is proud to be the first cannabis company to ‘walk the walk’ in our commitment to closing the racial wealth gap that has been exacerbated by the failed War on Drugs.”
“United Way of New York City (UWNYC) is, and historically has been, focused on closing opportunity gaps to enable economic mobility for people of color and low-income New Yorkers. We mobilize and catalyze hundreds of partners, representing corporations, nonprofits and government organizations,” said Sheena Wright, President and CEO of United Way of New York City. “We fundamentally believe that our partnership with NinetyToZero will continue to amplify and focus our work, helping to drive systemic change in our communities.”
“Bridging the racial wealth gap throughout our country is not simply a moral imperative, but an economic one. Our business success is directly linked to our own ability to advance equity in everything we do, and this partnership with NinetyToZero is an important step in our intentional journey to become and model the dynamic and forward-thinking business we aspire to be, as well as an employer that promotes and invests in its diverse talent,” said Jason Wright, President of Washington Football Team. “We are proud to stand alongside NinetyToZero and its partners to move the needle when it comes to growing Black talent and increasing capital to Black businesses within our organization and broader community.”
The NinetyToZero actions focus on:
- Establishing internal goals and measuring progress for hiring Black talent
- Establishing employee resource groups with C-suite equivalent champions
- Incorporating efforts to promote inclusion into executive accountability
- Improving access to asset building tools for employees
- Establishing internal goals and measuring progress for both relationships and money spent with Black-owned businesses
- Working with Black-owned banks, minority depository institutions, community development financial institutions, or other Black-owned financial institutions
- Establishing internal goals for investments managed by Black-owned or Black-led asset management companies
NinetyToZero also provides ongoing guidance and research on best practices, in collaboration with lead research partner The Wharton School of The University of Pennsylvania, to drive exponential impact for years to come.
Stephen Curry joins luminaries across multiple sectors who currently serve on the NinetyToZero Advisory Council. Members include:
- Mehrsa Baradaran, University of California, Irvine, Law Professor; Author of “The Color of Money: Black Banks and the Racial Wealth Gap”
- Angela Glover Blackwell, PolicyLink, Founder in Residence
- Danielle Bozarth, McKinsey & Company, Senior Partner
- David Clunie, Black Economic Alliance, Executive Director
- Wole Coaxum, MoCaFi, Founder and CEO
- Stephen Curry, Seven-time NBA All-Star, two-time NBA MVP, and Eat.Learn.Play., Co-Founder
- Darrick Hamilton, University Professor, the Henry Cohen Professor of Economics and Urban Policy Institute for the Study of Race and Political Economy at The New School, Founding Director
- Anthony Jenkins, Coppin State University, President
- Derrick Johnson, NAACP, President and CEO
- Michael McAfee, PolicyLink, President and CEO
- Wes Moore, former CEO of Robin Hood foundation
- Marc H. Morial, National Urban League, President and CEO
- Ai-jen Poo, National Domestic Workers Alliance, Co-Founder and Executive Director
- john powell, Othering & Belonging Institute at U.C. Berkeley, Director
- Dan Porterfield, Aspen Institute, President and CEO
- Anne Price, Insight Center, President
- Michelle Williams, Harvard T.H. Chan School of Public Health, Dean
For companies and organizations interested in joining NinetyToZero, please click here.
About Robin Hood
Robin Hood has been fighting poverty in New York City since 1988. Because Robin Hood’s board covers administrative expenses, every dollar donated is invested in poverty-fighting programs that create meaningful change for those in need. Last year, Robin Hood awarded $172 million in grants, filling a critical void during the COVID-19 pandemic by providing cash assistance, meals, housing, healthcare, and other urgent needs to one million New Yorkers, as well as funding an array of programs and initiatives developed to directly address the systemic underpinnings of poverty in New York City. To learn more, visit www.robinhood.org.
About Stephen Curry
Stephen Curry’s on and off court legacy is marked by transformation and innovation. With a following of over 15M on Twitter and nearly 35M on Instagram, Curry is one of the most influential stars both on and off the basketball court. His 11-year career in the NBA with the Golden State Warriors is marked by many firsts. He was the first person to be named Most Valuable Player by unanimous vote in NBA History, the first player to hit 100 3-pointers in the NBA Finals, one of a select few to win MVP awards two years in a row, and most recently, became the all-time leading scorer in Golden State Warriors history. He holds seven NBA all-star selections and three NBA Championships. Off the court, he is an emerging figure in Silicon Valley, investing in innovative consumer and enterprise tech companies. Last year, Stephen and Ayesha Curry launched the Eat. Learn. Play. Foundation, whose mission is to unlock the potential of every child by ending childhood hunger, ensuring universal access to education, and enabling active lifestyles. The family foundation is dedicated to providing underprivileged children with the fundamental resources they need to thrive in life, with an emphasis on the Bay Area and Oakland communities. He most recently launched Curry Brand, a purpose driven legacy brand powered by Under Armour, whose mission follows a similar undertaking of creating opportunities and increasing access for youth sports across the country. Stephen is also the founder of the Film & Television company Unanimous Media specializing in faith, family and sports content in tandem with Sony Studios, and is the Executive Producer for ABC’s no. 1 primetime show, Holey Moley.
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