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Apple, Comcast, Alphabet, and other large companies promise to help fight inequality

June 24, 2020

In fact, some billionaires donated more than some companies.

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Apple, Comcast, Alphabet, and other large companies promise to help fight inequality
Apple, Comcast, Alphabet, and other large companies promise to help fight inequality

The opinions of the employees of s You are personal.

Nowadays it is difficult to be a company that is worth billions of dollars and is still really connected to people. For this reason (I say it cynically), many reputable technology companies, particularly on the Fortune 500 list, are doing their best to get in touch with the public after protests from Black lives count that occur all over the world.

In particular, companies promise financial support to combat racial and other inequalities. By June 14, 2020, 44 companies on the Fortune 100 list had committed a total of $ 1.63 billion, according to Axios, quantified by our partners at Statista in the table above. The biggest donation comes from a bank: the Bank of America, which will donate a billion in 4 years (with a focus on color communities affected by the pandemic). Bank of America is number 25 on the Fortune list.

Photo: Statista

Tech companies like Alphabet (number 11 on the list, $ 38 million pledged), Apple (number 4 on the list, $ 100 million) and Comcast (number 28.1 billion. 90 percent of the money That $ 1.63 billion came from only 10 companies, most of which Facebook, Amazon and Cisco pledged between one and 10 million, according to a breakdown by CNBC.

“The reaction of many large companies to the Black Lives Matter movement and the murder of George Floyd is very different from the recent past, where companies believed that discussing the issues would only harm their brand. Now many companies seem to think the opposite: if they don’t give their support externally, their brand could suffer, “Statista says.

Could any company give enough? Probably not. Even wealthy, wealthy people, especially celebrities, were selected for not making enough donations. A three-day Morning Consult survey of 2,200 American adults asked how much celebrities should give racial justice or groups LGBTQand depending on political bias or social status, the numbers are everywhere. But they start at $ 100,000, which is expected from black adult celebrities, and rise to $ 500,000, which Democrats and LGBTQ adults expect from celebrities. The average was 300 thousand.

Some technology company executives with their own killer assets are increasing with individual donations. Boxing CEO Aaron Levie offered 500,000. Netflix CEO Reed Hastings and his wife Patty Quillin are giving away $ 120 million to divide them equally between three black universities and help students avoid debt.

Then there is Mark Zuckerberg, who has an entire company outside of Facebook (the Chan Zuckerberg Initiative) that only does philanthropy. 74 employees have requested changes to make them more inclusive, and they have done so publicly.

Then the work continues. It remains to be seen how, in the long run, everyone can explain the billions of donations that do the work to be done, let alone reach a needy organization.