Google commits $175 million to racial equity with focus on black-owned businesses
Illustration by Alex Castro / The Verge
Google is committing to spending more than $175 million on racial equity initiatives with a focus on financing black-owned businesses and supporting black entrepreneurs. The funding was announced by Google CEO Sundar Pichai on Wednesday alongside a number of other commitments and changes meant to fight anti-black racism and support black Google employees and their families.
The $175 million commitment is part of an “economic opportunity package” that Google breaks down into four groups. The largest sum is $100 million in funding to be directed toward black-led venture capital firms, startups, and other organizations focused on black entrepreneurs. Another $50 million will be used as financing and grants for small businesses “focused on…