Bloomberg Philanthropies’ Greenwood Initiative Launches New Racial Wealth Equity Database – Bloomberg Philanthropies

New York, NY — Today, Bloomberg Philanthropies’ Greenwood Initiative announced the launch of the Black Wealth Data Center (BWDC) which will host the new Racial Wealth Equity Database. The BWDC aims to empower decision-makers – including practitioners, elected officials at all levels, and philanthropists – as well as journalists, working to improve and chronicle economic opportunity by making it easier for them to find and analyze a wide range of factors correlated to economic well-being and progress by race. This new effort will also build a network for leaders and organizations working to create economic progress for Black families and communities. The BWDC is incubated by Prosperity Now, a leading nonprofit based in Washington, D.C. focused on advancing racial and ethnic economic justice.

On the Black Wealth Data Center’s website, visitors will use BWDC’s Racial Wealth Equity Database to interact with wealth data by topic (assets/debt, education, employment, homeownership, and business ownership), and compare wealth data by race (Black, Hispanic, Asian, White, Other or multiple races), sex, age, education attainment, and geographic area (state, county or zip code). Over the coming months, the BWDC will continuously add datasets and functionality to the database, looking for opportunities to offer new tools for the field to better interpret racial equity data. It will also convene leaders and host events about the power of data to help drive solutions for racial wealth equity.

The need for the BWDC was explained by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies and 108th mayor of New York City in January 2020 when he spoke in Tulsa, Oklahoma, launching the Greenwood Initiative, and addressed “the enormous obstacles that so many Black Americans have faced not only in creating wealth, but in passing assets to their children and grandchildren as generations of white families have done.” He said, “I believe that we have the power to build a future where color and capital are no longer related.”

Bloomberg Philanthropies’ Greenwood Initiative is a national program focused on accelerating the pace of wealth accumulation for Black individuals and families and addressing systemic underinvestment in Black communities across the U.S. Through this initiative, Bloomberg Philanthropies supports and works with leaders and organizations across the country to implement, scale, and advocate for efforts that increase economic and social mobility to reduce wealth disparities in Black communities.

“Leaders and organizations across the country have been challenged by the lack of accessible and high-quality data disaggregated by race – making it difficult to assess what’s working and not working in efforts to make America more equitable, what assets exist in Black communities, and what we need to do to effect change,” said Garnesha Ezediaro, who leads Bloomberg Philanthropies’ Greenwood Initiative. “With …….