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Alicia Keys launches $1 billion fund for Black-owned businesses

“As an artist, I’m always thinking about how can I use my platform to further racial equity,” she said.

Alicia Keys Getty Images

Alicia Keys and the NFL have teamed up to launch a $1 billion fund to support Black-owned businesses and communities.

In an interview with Billboard, the “Girl On Fire” singer said that the fund will go beyond a one-time donation and will “empower Black America.”

“We are already seeing the blatant injustices that are going on around us,” she said. “As an artist, I’m always thinking about how can I use my platform to further racial equity. This fund is one of the answers and our goal is to empower Black America through investing in Black businesses, Black investors, institutions, entrepreneurs, schools and banks in a way to create sustainable solutions.”

Keys told the outlet the the idea for the fund came from wanting to create concrete action amid the nationwide protests. Additional contributors and partners have not been revealed, but the plan is to create a “multi-sector contributor field for the fund,” reports the outlet.

“The initial goal of $1 billion is to ensure a substantial commitment,” the “You Don’t Know My Name” singer said. “Even with that it does not come close to closing the economic gap. The next steps are to reach out to different industries to invite them to invest in racial justice and create a multi-billion dollar endowment across business sectors.”

In recent weeks, the NFL has taken a stronger stance against racial injustices and police brutality. During the 2020-2021 season, the league plans to address systemic issues in this country.

“There is an urgent conversation that is happening across businesses about the importance of investing in Black America. I’m personally committed to holding corporations and institutions accountable, and in my conversations with the NFL, they reaffirmed their commitment to racial equity,” Keys added. “The prospect of true generational wealth for the Black community is long overdue and I’m grateful to express my purpose as an artist to advance that cause. I’ve been deeply inspired by the courage of Colin Kaepernick and the determination I have to see this through is meant to honor his commitment to social justice.”

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