Facebook Announced That It Will Commit $200 Million To Support Black-Owned Organizations & Businesses

On Thursday, the social media network, Facebook announced that the company will commit $200 million to Black-owned organizations and businesses. Sheryl Sandberg, Facebook COO, published a blog post stating that the company has been compelled during the last few weeks to confront the reality of injustice and violence which members of the Black community have been facing daily. This move is one of the several Facebook initiatives that the company announced on Thursday to support Black communities.

Mark Zuckerberg, Facebook CEO, announced on May 31, 2020, that the company will commit $10 million to support those groups who are working on racial injustice. The company’s COO announced Facebook’s initiative in a post and wrote that they have shared words of support for their colleagues, their friends, and communities. Sheryl Sandberg stated that we should also take action against violence and injustice.

$25 million out of these $200 million will be used to support Black content creators. The company announced that $75 million will go to ad credits and cash grants for non-profit organizations that serve the Black community and Black-owned small businesses.

Sheryl Sandberg also stated that the company will spend $100 million annually on Black-owned suppliers such as construction companies and advertising agencies, etc. Sandberg also announced that the company will commit to increasing the representation of individuals of color in Facebook’s leadership positions. Facebook plans to increase the representation of people of color by 30%, including 30% more Black individuals, over the upcoming 5 years. According to Sandberg, Facebook is planning to spend at least $1 billion with ‘diverse suppliers’ annually beginning from 2021.

According to the company’s diversity report published in the year 2019, currently, 3.8% of people working for Facebook are Black, and 3.1% of Facebook’s senior leadership is Black. Moreover, Sandberg wrote in the post that the company is adding a new section to the Facebook app. The new section is called ‘Lift Black Voices’ and it spotlights stories from Black individuals and also includes educational resources. This section will also feature fundraisers for causes combating racial injustice.

She stated that this move is only the start of how the company plans to help in this combat against violence and injustice. Facebook will continue to listen to people and take action to support the long-term success of the Black community, Sandberg added. Recently, Donald Trump posted on Facebook regarding Black Lives Matter protesters and stated that when the looting starts, the shooting starts. Facebook declined to remove or moderate Trump’s post and the company had to face criticism for this. Facebook’s new contribution comes after the company’s employees and business partners criticized Facebook for not taking any action against Trump’s post. Those employees who protested the company’s decision argued that Trump’s post violates the company’s community standards that prohibit any language that may incite serious violence.

Other major tech companies have also announced financial commitments to support racial equality. For instance, last week, Google announced to commit $175 million to support black entrepreneurs and Black-owned businesses.

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