Finance

Goldman Sachs, Starbucks pledge to help close U.S. racial wealth gap

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Goldman Sachs, Starbucks and a range of other organizations across the U.S. announced Tuesday a collaborative effort aimed at narrowing the racial wealth gap between Black and white Americans.

The initiative, called NinetyToZero, also includes the American Civil Liberties Union, the Wharton School of the University of Pennsylvania and the Robin Hood foundation as backers.

“A handful of folks got together and said, ‘We have a coordinated problem that we have to deal with, and the only way we’re going to deal with it is a coordinated solution’,” Robin Hood CEO Wes Moore said on CNBC’s “Squawk Box.”

“The problem we’re trying to solve for was the fact that there is this 10-to-1 racial wealth…



Source cnbc.com

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