Steve Ballmer, billionaire owner of the L.A. Clippers NBA team and former CEO of Microsoft, has been a major philanthropist for years. Now he’s investing $400 million to support Black-owned businesses.
Ballmer, along with wife Connie Ballmer, will partner with established private equity firms and investment banks to help address the systemic racial inequities that have hindered investment into these businesses in the past, the couple wrote in a blog post Wednesday.
“Our goal is to feed that need for venture start-up capital that is missing in the African American community,”
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