Goldman Sachs invests $2 billion in Black women-owned businesses — the first chapter of a bigger plan

professional headshot of Dr. William Darity

By Frank Holland

April 4, 2023

Goldman Sachs is investing more than $2.1 billion into Black women-owned businesses and nonprofits via the investment bank’s One Million Black Women program — and leaders say it’s only the first chapter.

Economists at the global investment bank have found the most efficient way to close the racial wealth gap is by investing in Black women. The racial wealth gap describes the disparity in wealth between Black and white households in the United States and is estimated to be at least $14 trillion, according to William Darity Jr., director of the Samuel DuBois Cook Center on Social Equity at Duke University.