White People Are Cashing In On The Black Struggle for Equality

White People Are Cashing In On The Black Struggle for Equality


Many historically marginalized groups have the ability to address the atrocities done to them. For example, Jewish people are still talking about the Holocaust. The Nazis killed millions of Jews from 1941-1945. Nobody should ever forget that. All races, ethnicities, and cultures should remember their past to avoid a repeat of the horrible events. All groups have this ability–except Black people.

The deaths of Ahmaud Arbery, Breonna Taylor, George Floyd, and other unarmed Black men and women by the hands of police or White vigilantes have put racism front and center. In addition, inequalities in healthcare, home ownership, unemployment, and voting have oppressed Blacks economically, socially, mentally, and spiritually. But since Blacks are the only group that’s not allowed to control its narrative, the question is, “Who does?”

Explaining racism, or race-splaining, is now a billion-dollar industry run mainly by Whites. Once again corporate America and other opportunists have taken a sin they created and leveraged it into a cash cow on the backs of Black people. How is this done over and over again?:

  1. Co-opt a Black movement without a commitment. In America, most issues that affect Black people aren’t taken seriously unless a White person gets affected or involved. Once Whites “support” a Black movement, it becomes “legitimate,” but often at a price. For example, the Black Lives Matter movement has raised millions of dollars for Democratic causes, yet the Democrats haven’t fully embraced the movement–even after their convention.
  1. Hijack the narrative. Whites create the rules of engagement and the rules for protest. So, when we protest, we’re always told that our what, our why, our how, our time and/or our place is wrong. As a result, Whites usually hijack the narrative to “set the record straight.” Once they control your narrative, they kill your movement.
  1. Pivot to a different narrative. After the narrative is hijacked, the goal is to pivot that narrative to something that appeases their own. For example, when Colin Kaepernick knelt during the national anthem to protest police brutality, the narrative quickly shifted from police brutality to disrespecting the American flag. Consequently, many “forgot” why Blacks were protesting in the first place. Whites also use language to slide the conversation from racism to more generic terms, like culture or fragility, to dilute the effects of their sin.
  1. Use Black America to craft the new narrative. Corporate America patronizes Black America by asking what it can do to help. This information helps to craft the new narrative. They’ll reference Black culture, token Black friends, and quote Martin Luther King to pander to Black people while speaking to White people. Remember, the narrative is for White people, not Black people. And if the audience is mainly White, Black America isn’t necessary. Either way, it’s all about making White people feel comfortable, not guilty, or accountable.
  1. Cash in. White “race experts” use their new narrative to cash in on the backs of Black America. Blacks provide the answers, Whites get paid. Sound familiar? These people travel around hustling their books, programs and speaking engagements for economic gain and “expert” status at our expense. This is an effective business model for “experts” but hurts Black people. (See “The Wages of Woke.”) There are so many people who have been doing hard work in this area for years. Yet, these warriors were ignored then and they’re being bypassed now in favor of opportunists.

The “co-opt and kill” method has killed Black movements for decades. Most movements start with good intentions. Then, outside money and forces often infiltrate to sidetrack or destroy those movements. We must collectively invest in our communities so we won’t be totally dependent on outside influences. This will give us the ability to tell our story. That doesn’t mean we won’t welcome anyone who wants to join our fight against racism. The more help, the better. We just ask you to join the fight, not take it over and cash in on our backs.

 


This is an opinion piece that does not necessarily reflect the views of BLACK ENTERPRISE.

Alicia Keys Partners With e.l.f. Beauty to Launch Keys Soulcare


Alicia Keys is on fire!

Less than two weeks ago, the R&B artist performed at the NFL Kickoff event to help start the 2020 football season. She also launched a $1 billion endowment fund, which the NFL has contributed to, aimed at supporting Black businesses and communities. Now, after releasing her new self-titled album last week, she is unveiling a new lifestyle brand, Keys Soulcare.

Keys Soulcare is a collaboration with e.l.f. Beauty. The collection aims to share the soul of self-care and skincare through content, conversation, and community. The Keys Soulcare website is set to launch Tuesday, Sept. 29, which will entail a rich editorial site and a fresh weekly email newsletter.

With her recent book, More Myself: A Journey, and her new album, ALICIA, Keys Soulcare is just a part of Keys’ journey from self-censorship to full expression. The line brings forward many of the ways she has learned to nurture herself, live boldly, and connect more deeply with others.

“We’re so busy all the time that I don’t think we create these small rituals for ourselves. Even the five minutes it takes to wash my face — when I’m able to create that space for myself I feel more beautiful, more powerful, more possible. That’s soulcare,” says Keys.

“We are so proud to partner with Alicia, as we share the same core values of inclusivity, empowerment, and a deeper view of beauty,” said Tarang Amin,  chairman and CEO, e.l.f. Beauty. “We look forward to leveraging our capabilities and track record of success as we take this next step in our transformation to a multi-brand portfolio.”

“The first time we met Alicia, we knew that we were creating something that transcended skincare. Her powerful words and her passion for taking care of the whole self, inspired us to create a rich, soulful content experience along with serious skincare,” adds Kory Marchisotto, Chief Marketing Officer, e.l.f. Beauty and President, Keys Soulcare. “Now, more than ever, it’s important to connect with consumers in deeper, more meaningful ways.”

According to Keys, there are four “Keys to Soulcare” — Body, Spirit, Mind, and Connection — which represent our physical, spiritual, mental, and social selves, and work together to unlock our inner light so that we can be more radiant.

“Keys open doors and this is another beautiful door that we get to walk through together,” says the 15-time Grammy Award-winning artist.

Netflix CMO Bozoma Saint John on Her Career Transitions, Salary Negotiation, and the Keys to Her Success

Netflix CMO Bozoma Saint John on Her Career Transitions, Salary Negotiation, and the Keys to Her Success


BLACK ENTERPRISE began its inaugural Women of Power Tech virtual summit Wednesday with a lineup of dynamic leaders sharing insight and perspective about climbing to the top of the tech industry. Hosted by Ally, the two-day conference provides a rich platform with sessions, workshops, and coaching to help Black women identify new trends and opportunities and gain the tools and skills necessary to advance in tech-driven industries.

One of the keynote speakers was Netflix Global Chief Marketing Officer Bozoma Saint John, who offered a masterclass of information for women looking to power through or to pivot in tech. During a one-on-one conversation with Women of Power Chief Brand Officer Caroline V. Clarke, the marketing superstar shared the keys to her stellar career, which lies at the nexus of culture, celebrity, marketing, and tech.

Here are three gems from the “Masterclass with Badass BOZ!” session at Women of Power Tech.

Transitions Are Hard. Trust Your Gut

Netflix

Before her appointment as the CMO of Netflix in August, Saint John spent 20 years working in the C-suite of some of the world’s leading brands and tech companies. Most recently, the 43-year-old marketing vet served as the CMO of Endeavor, the parent company of leading talent agency WME, which represents A-list stars like Oprah Winfrey and Matt Damon. Prior to Endeavor, she worked for a little under a year as the Chief Brand Officer for Uber. Saint John has also held top marketing positions at Apple Music, Beats Music, and Pepsi-Cola North America.

Despite her rockstar career, she admitted that her career transitions were difficult, but they taught her to trust her instincts.

“I would not say that transitions are ever easy,” she said, revealing that she would have preferred to work at one company long enough to retire. “But no, that is not, unfortunately, the reality for most Black women,” she continued. “I had to be able to figure out what was going to work for me, what I needed to do in order to advance and to grow because sometimes I couldn’t find those opportunities in the jobs that I was in or at the companies I was in.”

She added, “I couldn’t really wait for anybody to see my work. I had to show them my work and I had to make real active moves to then get the recognition for the work that I was doing.”

The marketing executive went on to reveal that she relies on her intuition when deciding when and how to make a career pivot.

“And, [like] I said, it’s not technical. It’s really my gut or my instinct. I have learned to trust it,” she said.

“Sometimes I’m not being given the opportunities that I know I’m ready for [like] that next promotion or that next bit of power or control over a budget. Or sometimes [there are] shifts in the way that I am valued. That’s when I know it’s time to move on,” she said.

Salary Negotiation

Although Saint John did not confirm reports that she was offered a whopping $7 million salary from Netflix, the marketing guru shared negotiating tips for other Black women.

“First, we have to do our research,” said Saint John, a vocal advocate about knowing your worth and demanding equal pay. Find out the market value of your position, or similar roles, and bring that proof to the table, she advised.

“Next, we have to actually be able to negotiate,” which means speaking with confidence or, in some cases, hiring an attorney or business manager to make those deals on your behalf, she said.

While speaking on-stage at Cannes Lions 2018, Saint John said, “I always asked for whatever a White man is making in that same job.”

Own Who You Are

Women of Power Tech

Noted for her bold fashion sense and style, Saint John encouraged Black women to show up to work as their full authentic selves.

“Advice that I have for us, and for Black women, in particular, is that we actually have to own our unique ability and our unique experiences–and tout them.”

She went on, “I am doing it and I would like the rest of us to continue doing it–to push, push, push –not to subscribe to what has been told to us that we are supposed to look like and behave like, but to really be who we are and therefore, make room for others when it’s their turn.”

At another point, Saint John admitted that “these rooms are simply not built for us.” However, rather than conforming, the CMO says standing out has been a key driving force in her success.

“I don’t know that I want to belong because if I belong then I won’t be fearless, and I won’t fight. I’ll get too comfortable,” she said. “I don’t want to feel the comfortability of being embraced just yet. It’s helped me to be the warrior and fighter.”

Watch “Fame, Fortune, and Werk–A Masterclass with Badass BOZ!” below.

Citi Commits Over $1 Billion to Reduce Racial Wealth Gap and Build Financial Stability

Citi Commits Over $1 Billion to Reduce Racial Wealth Gap and Build Financial Stability


Putting forth over $1 billion in strategic initiatives, Citi and the Citi Foundation are joining other large entities across America to help narrow the racial wealth gap and boost economic mobility.

The pledge stems from Citi’s Action for Racial Equity, an effort to provide greater access to banking and credit in communities of color. It also intends to boost investment in Black-owned businesses, expand homeownership for Black Americans, and advance anti-racist practices in the financial services industry.

Citi core businesses and the Citi Foundation are making these promises over the next three years:

  • $550 million to support homeownership for people of color and affordable housing by minority developers.
  • $350 million in procurement opportunities for Black-owned business suppliers.
  • $100 million to support Minority Depository Institutions’ growth and revenue generation.
  • $100 million in Citi Foundation grants to support community change agents addressing racial equity.
  • $50 million in additional impact investing capital for Black entrepreneurs.
“Addressing racism and closing the racial wealth gap is the most critical challenge we face in creating a fair and inclusive society and we know that more of the same won’t do,” Citi CEO Michael Corbat stated in a news release. “We are bringing together all the capabilities of our institution—our people, our lines of business, our balance sheet, and our philanthropy—like never before to combat the impact of racism in our economy. This is a moment to stand up and be counted, and Citi is committed to leading the way and investing in communities of color to build wealth and strong financial futures.”
Citigroup, the New York-based financial services giant, uses Citi as a brand name.

 

”If the U.S. had closed key racial gaps for Black Americans in wages, housing, education and investment 20 years ago, $16 trillion could have been added to the U.S. economy, the Citi GPS report “Closing the Racial Inequality Gaps, shows.

The report indicates if these gaps are closed today, $5 trillion could be added to U.S. GDP over the next five years.

“We are in the midst of a national reckoning on race and words are not enough. We need awareness, education, and action that drive results,” said Mark Mason, Citi’s CFO and one of the industry’s most senior Black executives. “The commitments we are announcing today are just the starting point. By harnessing the central role Citi plays in local economies and the financial lives of Americans, we are determined to help close the racial wealth gap and help build an anti-racist economy and society.”

As part of Action for Racial Equity, Citi claims its businesses are focused on four key outcomes: Expand banking and access to credit in communities of color. Invest in Black entrepreneurship. Invest in affordable housing and promote the growth of Black homeownership. Combatting racist practices in the financial services industry.

The Citi Foundation is making a new $5 million grant to Living Cities to provide U.S. mayors with access to technical expertise, training, and seed capital for pilot initiatives that address racial wealth and income gaps. The foundation also is expanding employability and entrepreneurship efforts serving Black youth as part of a new three-year $100 million investment in its successful Pathways to Progress initiative.

“Citi is going beyond talking about discrimination by implementing concrete strategies to address longstanding inequities in communities of color,” Kristen Clarke, president & executive director of the Lawyers’ Committee for Civil Rights Under Law, stated. “Citi is charting a course that we hope will be replicated throughout the sector. We look forward to continuing our partnership.”

Certain Action for Racial Equity commitments, including portions of Citi’s investments in minority developers and in Minority Depository Institutions, will require approval from the Office of the Comptroller of the Currency.

See more details on Action for Racial Equity, here.

 

 

This UK Entrepreneur Is Bringing His Haircare Line For Black Men To The US Market


Black haircare has become a lucrative business and more Black entrepreneurs have found ways to create more diversity for product selection when it comes to Afro-textured hair. Men’s haircare has also become a fast-growing niche with more black men looking for products to nourish their natural hair. After establishing a name for himself over in the U.K., this Black male entrepreneur is looking to bring his men’s care collection to the U.S. market.

Aaron Wallace is the brainchild of his namesake luxury haircare brand designed with Black men in mind. Wallace started creating his own products and his experiences with customers during his time as a barber. “I was cutting hair daily and having regular conversations with clients, who were mostly Black men,” said Wallace in an email interview with BLACK ENTERPRISE.

“I noticed that many of us suffered from similar issues with our hair and grooming and were finding it difficult to find the best solutions for our hair type. I wanted to change that and created a range of products that would solve those problems.”

Despite the challenges of entering a new, international market, Wallace looks forward to finally bringing his products to the U.S. “It’s been quite a challenge being based in the UK and having such interest from the US, mostly due to the challenges that come with shipping,” says Wallace.

“Shipping costs have been a big hurdle for us as it raises the barrier for our US customers, however, this is something we have now found solutions for so I’m very pleased to now be able to serve our US and Canadian customers…we want to be as accessible as possible and soon you will be able to find us on local shop shelves.”

 

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The fresh feeling after you wash and condition your beard 👌🏾👌🏾

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Wells Fargo CEO Faces Backlash After Calling Qualified Black Talent Pool ‘Very Limited’

Wells Fargo CEO Faces Backlash After Calling Qualified Black Talent Pool ‘Very Limited’


Wells Fargo CEO Charles Scharf told several Black employees during a Zoom meeting earlier this summer that the bank had trouble reaching diversity goals because there were not enough qualified minority talent.

Two participants in the meeting told Reuters Scharf made the same comment in a company-wide memo on June 18 that announced diversity initiatives.

“While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of Black talent to recruit from,” Scharf said in the memo, as reported by Reuters.

Scharf’s comments irritated some Black employees of Wells Fargo according to the two employees, who spoke on the condition of anonymity because they feared repercussions. Black executives across the country have said they are frustrated by claims of a shortage in Black talent, adding the excuse is a major reason why companies have a problem finding them.

“There is an amazing amount of Black talent out there,” Ken Bacon, a former mortgage industry executive who is on the boards of Comcast Corp, Ally Financial Inc., and Welltower Inc. told NBC. “If people say they can’t find the talent, they either aren’t looking hard enough or don’t want to find it.”

The Black Lives Matter movement has shined a light on the lack of Black men and women in corporate offices. Black Americans made up just 10% of new director appointments in the Fortune 500 last year while being 13% of the U.S. population, according to a 2020 report from executive recruiting firm Heidrick & Struggles.

Lauren Holland, the chair of Wall Street Friends, told NBC she has more than 8,000 members in minority communities and has sent out more job posts in the last two months than in the last five years.

“I literally get emails every single day from people asking to be added to our list,” she said. “The talent is there. It’s just a matter of the firm accessing it and connecting with it.”

Despite the backlash, some attendees were not offended by what Scharf said.

“The meeting was incredibly constructive… I walked away being incredibly surprised at how genuine and sincere he is,” Alex David, president of the Black/African American Connection Team Member Network told NBC News.

Some experts believe one of the reasons corporate offices lack diveristy is such jobs are often filled by those who’ve managed businesses, while people of color tend to be stuck in roles that do not have a direct connection to profits.

“As women and minorities started to gain traction in corporate America, they were trapped in certain jobs companies felt comfortable placing them in, like human resources, administrative-support type functions,” said Teri McClure, former general counsel and chief human resources officer at United Parcel Service Inc., who now sits on several boards, including JetBlue Airways Corp.

Wells Fargo spokeswoman Beth Richek defended Scharf’s record on diversity.

Scharf “is committed to deep and systemic change to increase diversity and has held several forums where there has been candid conversation and unfiltered feedback,” Richek said in a statement.

Finance Giant Black Rock Appoints Michelle Gadsden Williams As New Head of Diversity & Inclusion

Finance Giant Black Rock Appoints Michelle Gadsden Williams As New Head of Diversity & Inclusion


Black Rock is one of the country’s most extensive finance and investment groups. Now they are making moves toward diversifying its workforce by appointing Michelle Gadsden Williams as its new head of diversity, equity, and inclusion. Gadsden Williams, who has over 25 years of experience advocating for corporations to create more policies that promote diversity inside their corporate structures, will be succeeding Jonathan McBride, who previously worked in the role. Williams will be working alongside Birgit Boykin to work on new diversity initiatives.

“The most interesting thing about my role is that it contemplates an important new dimension in our diversity, equity, and inclusion efforts,” said Williams in an email interview with BLACK ENTERPRISE. 

“Adding ‘equity’ to the diversity and inclusion mission reflects BlackRock’s dedication to fair access to opportunities and advancement for all employees. It signals our conviction that our employee experience is as important to our diversity agenda as representation. I’m excited to stand those initiatives up more formally and move the organization as a whole forward across diversity, equity, and inclusion.”

Before joining the team at Black Rock, Gadsden Williams also worked as the Global Head of Diversity for Credit Suisse. She was the chief diversity officer for Novartis before starting her management consulting agency after living in Switzerland for 10 years. She also worked in human resources and product development at Philips­Van Heusen Corporation and Wakefern Food Corporation based in New Jersey.

“We have an aggressive agenda that strives to make BlackRock more diverse and more inclusive,” wrote Manish Mehta, chief of Human Resources, in a memo. “For our culture and our business, we believe positive outcomes result from more voices coming from people of varied backgrounds and experiences.”

As far as navigating through the COVID-19 pandemic, Gadsden Williams says that the company has become “accustomed to doing business this way for now. COVID doesn’t represent a hindrance for me, but I am looking forward to resuming a more “normal” operating model.”

CNN’s Don Lemon Walks Back Statement: ‘We’re Going to Have to Blow Up the Entire System’

CNN’s Don Lemon Walks Back Statement: ‘We’re Going to Have to Blow Up the Entire System’


After making controversial statements regarding the Electoral College on Monday night, CNN host Don Lemon stated that his comment, “we’re going to have to blow up the entire system,” was taken out of context, according to The Hill.

The exchange took place between Lemon and CNN host Chris Cuomo.

“We’re going to have to blow up the entire system,” Lemon says to Cuomo.

“I don’t know about that,” Cuomo replied. “You’re just going to have to vote.”

“You’re going to have to get rid of the Electoral College,” Lemon continued. “Because the minority in this country get to decide who our judges are and who our president is. Is that fair?”

“You need a constitutional amendment to do that,” Cuomo replied.

“And if Joe Biden wins, Democrats can stack the courts and they can do that amendment and get it passed,” Lemon responded.

So, Lemon, in his exchange with Cuomo Tuesday night, attempts to clarify what he was actually saying.

“I woke up and I saw all of these headlines, ‘Don Lemon is calling for the abolishing of the Electoral College!’ But I was responding to you when you said we need people with integrity!” Lemon said to Cuomo. “I was responding to you when you said we want people with integrity in office and I said, ‘Well, then we’ve got to blow up the whole system, right?’ And I said here’s what Democrats can do and that’s the danger: they can stack the court.”

“But all of a sudden, I am calling for the abolishing of the Electoral College,” Lemon says. “And that I’m a Democrat because I said ‘we.’ I mean the American people!”

Lemon felt he had to speak on the matter because his critics took a position of the conversation to make it headline material.

“Run and tell this: I do think that we need to look at the Electoral College because I think it disenfranchises voters, both Democrats, and Republicans,” Lemon said. “If you’re in a blue state and all of the electoral votes go to the Democratic person, then the Republicans’ votes aren’t counted, the people who voted for the Republican candidate! So I do think it should be looked at because I think it does disenfranchise certain people. Should it be abolished? It’s not for me to say. I’m saying this is what Democrats are saying; stack, the courts, get rid of the Electoral College. But there is no nuance and no context anymore so who cares.”

Michelle Obama Hosts Social Media Voter Registration Day Takeover

Michelle Obama Hosts Social Media Voter Registration Day Takeover


Michelle Obama is using her platform and influence to encourage people to vote in the upcoming presidential election in November. In honor of National Voter Registration Day, the former FLOTUS took to Instagram to announce a new special live series with the help of When We All Vote, a non-partisan voting rights organization, to talk about the importance of the 2020 election and how to make sure you are fully registered to vote.

“On #NationalVoterRegistrationDay, I’m going live on Instagram with some special guests and voting experts to make sure we’re all ready to cast our ballots this fall,” Obama wrote on her Twitter page. “Join me tomorrow at 11 am ET for @WhenWeAllVote’s Registered and Ready Instagram Takeover.”

The sessions included guest appearances from numerous celebrities chatting with Obama, including Ayesha Curry, Zendaya, Jennifer Lopez, and Chris Paul. The series is apart of When We All Vote’s Fuel The Vote Initiative to set up drive-thru registration points across nine different cities.

“Families are struggling in the wake of unemployment and income uncertainty, and in-person voter registration has plummeted across the country,” said Kyle Lierman, CEO of When We All Vote, according to Essence. “When We All Vote works to meet people where they are, and through Fuel the Vote, we hope to do our part to get folks who could use some help, a free meal, and help get them the critical voting information they need.”

 

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For National Voter Registration Day, I went live with @cp3 and @nike to encourage everybody to get registered and ready to vote.

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Investment Banker Suzanne Shank Appointed to Kresge Foundation Board of Trustees

Investment Banker Suzanne Shank Appointed to Kresge Foundation Board of Trustees


The Kresge Foundation, among the nation’s leading social services and philanthropic nonprofit organizations, has appointed investment banker Suzanne Shank to its Board of Trustees.

Shank, along with finance scholar Michael Barr, were just named trustees to serve on the governing body for the private, national foundation. Based in Troy, Michigan, the Kresge Foundation reports it invests over $160 million a year to foster economic and social change.

Shank is president/CEO and the largest shareholder of Siebert Williams Shank & Co.,L.L.C. (SWS), the nation’s biggest minority-and-women-owned financial firm. Before forming SWS via a merger in 2019, she was CEO of Siebert Cisneros Shank L.L.C. She co-founded that firm and helped it become the first MWBE firm to rank within the Top 10 among U.S. municipal debt underwriters and the first MWBE to lead a municipal underwriting exceeding $1 billion in principal amount.

Barr is the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy, the Frank Murphy Collegiate Professor of Public Policy, and the Roy and Jean Humphrey Proffitt Professor of Law at University of Michigan Law School. He is the founder and faculty director of U-M’s Center on Finance, Law, and Policy, and co-founded the Detroit Neighborhood Entrepreneurs Project.

“Suzanne and Michael are extraordinary additions to our Board of Trustees,” Kresge Board Chair Elaine D. Rosen stated in a news release. “Their individual expertise in finance and banking and combined community development leadership—specifically in low-income communities—will further bolster the foundation’s efforts to expand opportunity for people living in America’s cities.”

Among its actions, The Kresge Foundation has invested millions in programs specifically aimed at economic development in urban areas. This effort is precisely targeted at Black entrepreneurs.

After their initial 4-year terms, per the foundation’s governance rules, Shank and Barr’s trustee appointments may be extended to a maximum of 16 years.

Shank is the recipient of many accolades. For instance, she was honored by USA Today as one of its Women of the Century and by Ebony Magazine as one of its Power 100 of 2020.  She is one of the most successful African American female entrepreneurs in the finance industry. Shank lives and works in Detroit, where the Kresge Foundation has a major impact on its commitments.

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