Connect with us

News & Features

Mellody Hobson and Jamie Dimon: Black Americans are still worse off financially. Businesses can help



Spread the love

Mellody Hobson is a board member of JPMorgan Chase, the president of Ariel Investments and a member of the Advancing Black Pathways Advisory Council. Jamie Dimon is the chairman and CEO of JPMorgan Chase. The opinions expressed in this commentary are their own.

Perspectives allison triolo b
For all the positive economic trends in America, the racial wealth gap continues to prevent growth from benefiting everyone. While this is not a new crisis, it is one we must urgently address so that economic opportunity is equally extended to black Americans.
Racism, intolerance and poverty strangle economic opportunity. The racial wealth gap is stark: For single black Americans, the median wealth is $200 to $300, compared to $15,000 to $28,000 for single white Americans. This divide undermines financial stability for many black Americans.
Closing the racial wealth gap is good for Americans, and it makes good business sense. We know employees from diverse backgrounds offering different perspectives drive better corporate outcomes. A recent study showed that businesses with diverse leadership generate 19% more revenue than non-diverse companies.
Diversity can also reduce turnover. Nearly seven in 10 millennials reported they would continue to work at a company for five or more years if it is diverse.
As leaders in business as well as the broader community, we know we have a responsibility to society. Not to mention, as financial services executives, we can help to foster widespread prosperity.
To this end, we have both worked to empower black Americans to achieve personal and professional success. For example, After School Matters, a nonprofit founded in 2000, provides enrichment programs to thousands of inner-city high school students in Chicago. Meanwhile, JPMorgan Chase’s Fellowship Initiative, founded in 2010, offers hands-on college access and academic support to young men of color in Los Angeles, New York, Chicago and Dallas. The scale and success of these efforts are impressive — but not enough. There is much more work to be done.

Leave your vote

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%






Spread the love

Do you have rap lyrics strong enough to inspire others to invest in stocks and win a cool grand? Find out by entering Stock Market Tracks, a new investing-themed rap competition geared to boost the financial literacy of young African Americans to expand knowledge about the finance world and Wall Street.

A fantasy finance and mobile investing app designed to educate the next generation of investors, Invstr is offering the contest that includes a $1,000 cash first prize for best song.

“Our goal is to open up finance to people who may never have considered investing as an option before,” stated Kerim Derhalli, founder and CEO of Invstr. “This competition is a great way for people to start thinking about an investment portfolio. Music is a great medium to learn and we hope that this competition opens doors to the world of finance.”

Read more @ Black Enterprise

Continue Reading

DC Urban Events

Whole Woman Expo | Saturday, September 14th




Spread the love


Celebrating Heal a Woman to Heal a Nation Day

September 14, 2019

11am- 6pm

Radisson Inner-Harbor Downtown Baltimore, MD

The Whole Woman Expo is a day for women. A LifestyleBeauty and Wellness day designed to serve you through workshops, resources, and fun!

We have limited complimentary tickets. Secure your seat by clicking >>> I WANT MINE NOW!


For More Information:  or email 443-927-7805


Continue Reading


Feature Your Event in the African Beat? – FREE




Spread the love

Want Your Event Featured in the African Beat?

‘The African Beat’ is distributed to over 8,000 subscribers every other Friday. If you would like your event to be featured in our newsletter, please submit the following details: what, when & where, and provide a link to where readers can go for more information. Submission deadline for the next edition is Wednesday, July 24, 2019 by 5:00 pm. Send all materials, along with any questions, to

Continue Reading
Grab cheap 4th of July flights on MyFlightSearch. Save up to $40 with promo code – FREEDOM40
Plan your trip around the world with MyFlightSearch & Save up to $20.00** off our fee with promo code – ATW20. Book Now!


Hey there!

Forgot password?

Don't have an account? Register

Forgot your password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.


    Processing files…