Businesses and philanthropy unite to fight racial wealth gap

NEW YORK (AP) — The CEOs of Starbucks and Goldman Sachs will join leaders from philanthropy and academia in a new initiative to address the racial wealth gap in the United States. NinetyToZero, named for the 90% wealth gap between white and Black Americans, plans to provide a roadmap for organizations to “counteract centuries of discrimination, segregation, and financial exploitation,” the group announced Tuesday. Those organizations who join NinetyToZero agree to establish internal goals for hiring and promoting Black talent, as well as measuring how much money is spent with Black-owned businesses and placing more money with Black-owned banks and other financial institutions.