• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Politics

American companies pledged $50 billion to Black communities. Most of it hasn’t materialized

By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Down Arrow Button Icon
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Down Arrow Button Icon
May 6, 2021, 2:35 PM ET

Corporations have increasingly pledged financial support for Black communities since the murder of George Floyd last summer, but a new study finds that much of the funding has yet to materialize.

American companies pledged $50 billion toward racial equity following Floyd’s murder, according to a study by Creative Investment Research. Since then, only $250 million has actually been spent or committed to a specific initiative, according to an analysis by the consulting firm.

The $50 billion was supposed to be donated to civil rights organizations, invested in communities of color, and put toward overhauling internal recruiting and training, reports the Financial Times.

Large companies such as Apple, Target, and Facebook have committed funds to support Black communities since last year.

One of the largest donations came from Apple, which pledged $100 million to a Racial Equity and Justice Initiative last June. In January, the company announced that as part of the first round of its multimillion-dollar commitment it was donating $25 million to Propel Center, a learning hub for historically Black colleges and universities.

The company also said it was investing $10 million with an early stage VC firm and $25 million in Siebert Williams Shank’s Clear Vision Impact Fund to help invest in companies with diverse founders.

Other companies, such as Target, have spread their investments out over a number of years. The Minneapolis-based retailer pledged in April to spend $2 billion with black-owned businesses by the end of 2025.

Besides donations, several companies such as Amazon have pledged to increase the number of Black and women employees in their ranks.

Despite some major commitments by companies, some have still pushed back against reporting corporate diversity numbers.

At its shareholder meeting last week, Berkshire Hathaway rejected a shareholders proposal that would require the company to issue annual reports on diversity. Johnson & Johnson also asked the SEC to block shareholder votes on a similar diversity proposal.

Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today.

About the Author
By Marco Quiroz-Gutierrez
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

brigham
CommentaryRailroads
The U.S. freight network is broken by design. One merger could start fixing it
By Brigham A. McCownMay 21, 2026
7 hours ago
Europe is considering price caps to control inflation. CEOs are shaking their heads in despair
EconomyLetter from London
Europe is considering price caps to control inflation. CEOs are shaking their heads in despair
By Kamal AhmedMay 21, 2026
8 hours ago
Vice President JD Vance rebuffs question about President Trump’s stock investments, says Trump is so wealthy he doesn’t trade stocks himself
PoliticsDonald Trump
Vice President JD Vance rebuffs question about President Trump’s stock investments, says Trump is so wealthy he doesn’t trade stocks himself
By Marco Quiroz-GutierrezMay 21, 2026
12 hours ago
frank
PoliticsObituary
Barney Frank, legendary liberal who ripped into left-wing dysfunction on his death bed, dies at 86
By Steven Sloan and The Associated PressMay 20, 2026
23 hours ago
bezos
Personal FinanceNew York City
Jeff Bezos on Zohran Mamdani’s big mistake: ‘When you don’t know how to solve a problem, create a villain, blame them’
By Nick LichtenbergMay 20, 2026
24 hours ago
electrical transmission lines hang over a housing development on March 24, 2026 in Sylmar, California.
EnergyElectricity
2025 was a turning point for your electricity bill and it’s just getting more expensive from here. It’s not just data centers
By Tristan BoveMay 20, 2026
1 day ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
2 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
1 day ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
4 days ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
22 hours ago
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
Workplace Culture
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
By Preston ForeMay 19, 2026
2 days ago
A 'proudly autistic' workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
Conferences
A 'proudly autistic' workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
By Tristan BoveMay 20, 2026
22 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.