Goldman Sachs Teams Up with Coach Dawn Staley to Address the Racial Wealth Gap

• Hall of Fame Women's Basketball Player and Coach Appears in TV Ad on Behalf of the Goldman Sachs One Million Black Women Initiative 

WASHINGTON, D.C., NOVEMBER 6, 2023 – As the women’s college basketball season kicks off, Goldman Sachs One Million Black Women is partnering with legendary Hall of Fame women's basketball player and coach, Dawn Staley bringing attention to the racial wealth gap in America. The TV spot opens with Dawn Staley, in her decorated coach’s office poring over the data and stating an alarming statistic to the camera: “40% of Black women working full-time earn less than $50,000 a year.”

This advertisement is part of a broader campaign led by Goldman Sachs One Million Black Women that builds on their commitment to help narrow opportunity gaps, both through direct investments and grants, as well as by amplifying the voices of Black women in the United States to catalyze public policy change.

“Black women in America are often heads of households, yet they face a disproportionate share of economic inequality,” said Dawn Staley, Head Coach of South Carolina Women’s Basketball. “Together with Goldman Sachs One Million Black Women, I want to encourage all Americans to join us in addressing the racial wealth gap by uplifting Black women. In order to win as a society, we must all have the opportunity to reach our full potential, and that includes Black women.”

The ad cites data from the recently released Money Matters: One Million Black Women Economic Mobility Survey. The survey revealed how Black women in America face a disproportionate share of financial and job insecurity, exacerbating healthcare, retirement, and child care inequalities. The lack of access to these basic benefits, compounded by the fact that most Black women report they are living paycheck to paycheck, highlights the critical need for partnership across the public and private sectors. This data, along with real stories of Black women from across the country, will be used to help develop and advocate for policy solutions to narrow these gaps and ultimately create a richer and fairer society.

“Coach Staley's support for Black women is an inspiration, and we thank her for lending her voice to the One Million Black Women initiative,” said Jessica Taylor, National Director of One Million Black Women. “Together, we will help drive solutions that advance the economic mobility and potential of Black women and their communities. We are excited by the collective opportunities that lie ahead.”

"Our collaboration with Goldman Sachs One Million Black Women and Coach Staley is one that will help shine a spotlight on the stark economic disparities faced by Black women in America," said Maura Chanz, the driving force behind the most recent advertisement produced by ColorCreative, a Black women-owned and run company. "Our hope is this ad will advance the conversation about bridging the economic divide that disproportionately affects Black women.”

The advertisement was written, produced and directed by Maura Chanz and ColorCreative, a management company focused on supporting and developing the voices of women and BIPOC creators. This national ad will start airing on November 6, 2023 on connected TV and across digital platforms.

This national ad will start airing on November 6, 2023 on connected TV and across digital platforms and can be viewed here.

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About the One Million Black Women Initiative
In partnership with Black-women-led organizations, financial institutions and other partners, Goldman Sachs has committed $10 billion in direct investment capital and $100 million in philanthropic capital over the next decade to help address the dual disproportionate gender and racial biases that Black women have faced for generations, which have only been exacerbated by the pandemic. The initiative, One Million Black Women, is named for and guided by the goal of impacting the lives of at least one million Black women by 2030.

About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.