Exclusive: King Center partners with Goldman Sachs’ One Million Black Women initiative

Goldman Sachs is helping to relaunch a youth leadership program run by the King Center, Axios is first to report.

• The new partnership, announced today, is part of the investment firm’s $10 billion, 10-year effort to close the economic gap that Black women continue to face.

Why it matters: Goldman Sachs launched its One Million Black Women initiative last March in response to a national outcry for companies and individuals to do more to reverse racial injustices. 

• Civil rights leader Coretta Scott King founded the King Center in Atlanta following the assassination of her husband Reverend Dr. Martin Luther King, Jr. to promote nonviolent social change.

Details: The King Center’s Beloved Community Leadership Academy is designed to help 13- to 18-year-olds develop leadership skills and character, while learning about nonviolent strategies that can lead to societal change. 

• Through the partnership, the program will also create a cohort of Black girls from across the country who can participate in programs related to One Million Black Women and access mentorship.

What they’re saying: “By lifting up Black women and girls everywhere, we can not only honor the legacy of Martin Luther King, Jr., but also create a more dynamic and inclusive economy,” said David Solomon, chairman and CEO of Goldman Sachs. 

The big picture: The inequities affecting a demographic group which makes up more than 6% of the U.S. population has held the country back from meeting its economic potential, S&P Global U.S. chief economist Beth Ann Bovino told Axios executive editor Aja Whitaker-Moore. 

• The pandemic has also exacerbated the gap.
• The latest example: While the unemployment rate for U.S. workers fell in December, the percentage of Black women who were unemployed grew to 6.2% from 4.9% in November — the only gender and racial group to experience an increase.