On October 27, Robert F. Smith and Goalsetter announced “One Stock. One Future.” – a call to action for organizations and corporations to create the next generation of financially free Black and Latinx Americans. The initiative will be powered through Goalsetter’s family investment platform designed to get every kid in America investing and on the path towards financial freedom.
The program was kicked off in October by Vista Equity Partners Founder, Chairman and CEO and philanthropist Robert F. Smith gifting five shares of stock – equivalent to nearly 15,000 total shares – to each of the 2,900 students, educators and staff members at the Eagle Academies for Young Men, a network of public, all-boys schools serving young men of color in New York City and Newark, N.J.
From today forward, they will no longer solely be consumers who make every company in America wealthy by what they spend.
“In partnership with corporations across the country, we are creating a turning point for America’s Black and Latinx kids. From today forward, they will no longer solely be consumers who make every company in America wealthy by what they spend. Through this initiative, we are creating a generation of investors and owners who can pave their way to wealth by owning a piece of the companies that make the American economy great. They, too, can learn to be participants in our flourishing economy, not just bystanders, and the companies they love can help them get there,” said Robert F. Smith.
Robert F. Smith’s gift served as the catalyst for the creation of the larger “One Stock. One Future.” movement to turn one million Black and Latinx kids into shareholders. The goal of the initiative is to help bridge the wealth gap affecting communities of color by introducing investments and financial education as critical components to building broader and generational wealth.
“We are both energized and humbled by the leadership of Robert F. Smith and other business and community leaders who are at the forefront of this effort to change the paradigm for the next generation of Black and Latinx kids in our country. I truly believe that together we will rewrite the course of history for all communities that have been marginalized due to their lack of access to financial education and investment tools that uniquely engage them,” said Goalsetter CEO Tanya Van Court.
As part of the effort to reach one million Black and Latinx youth, Robert F. Smith and Goalsetter are calling on Fortune 1000 companies and CEOs to take the “One Stock. One Future.” challenge by donating a minimum of 1,000 shares (or the cash equivalent) to be distributed to Black and Latinx kids across America. To date, leading technology, banking, and Fortune 1000 companies and executives have already committed to leading the way on this initiative by donating 1,000 shares each, including Adtalem Global Education, Citizens Financial Group, Comcast NBCUniversal, Delta Air Lines, Fiserv, HP, Lyft, Twitter, and UBS.
Corporate shares donated to the “One Stock. One Future.” program will be distributed to youth through current and future partner organizations, including Alpha Phi Alpha Fraternity Inc. and the NAACP, to identified youth organizations such as Black Girls Code, BUILD, Boys & Girls Club, Coded by Kids, Genesys Works, Girls Inc. of Alameda County, Phalen LeadershipAcademies, Philadelphia Youth Network, Saint Augustine High School, 100 Black Men of Chicago, Inc., and others.
By helping young people become investors and savers rather than just consumers, the “One Stock. One Future.” initiative aims to break the curse of 2053, a study that suggests that Black and Latinx communities are on track to have zero net worth in the next 30 years.
Schools, non-profits, and other youth-focused organizations who wish to be designated to receive shares can contact the Goalsetter Foundation at [email protected] to get more information about signing up.
Find out more about this movement and how to participate at [email protected] to get more information about signing up.
Find out more about this movement and how to participate at goalsetter.co/onestock- onefuture.
