More than two dozen philanthropic organizations and corporations on Thursday launched the California Black Freedom Fund. It’s five-year $100 million initiative the group says will provide resources to Black-led organizations in the state aiming to eradicate systemic racism. The 25 funders include the philanthropic groups of Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, Philanthropist Laurene Powell Jobs as well as JPMorgan Chase. The group says the fund aims to address the “history of underinvestment” in Black-led organizations. It currently has $32.4 million, with the rest of the money slated to be raised and given during the next five years.
