November 2022

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Access to capital – whether through banking or investment – is a longstanding challenge for Black entrepreneurs looking to scale their enterprises. But some much-needed capital is entering the marketplace following a $400 million commitment from billionaire investor, L.A. Clippers owner and Detroit native Steve Ballmer.  The former Microsoft CEO, who according to net worth Fortune magazine has a net worth of $76.9 billion, announced that he would allocate $400 million to investment firms Goldman Sachs, Fairview Capital, JPMorgan Chase, Ariel Investment and GCM Grosvenor. These firms would, in