At the second annual ForbesBLK Summit in Atlanta, influential leaders gathered to discuss strategies for investing in the Black community.
The event, held from June 23-25, attracted a diverse group of entrepreneurs, business leaders, athletes, and entertainers, all focused on advancing financial literacy, product ownership, and DEI (diversity, equity, and inclusion).
Stacey Abrams Champions DEI
Voting rights activist Stacey Abrams delivered a powerful message on the importance of DEI, emphasizing its longstanding presence in American history.
“If we do not have access, if we do not have diversity in our process, if we do not have inclusion for all, then we do not have a real opportunity for the American dream,” Abrams stated.
She encouraged people of color to actively participate in local and state elections to drive meaningful change.
Mentorship and Raising Capital
Kneeland Youngblood, CEO of Pharos Capital Group, shared his success story, highlighting the crucial role of mentorship in raising capital.
He recounted his experience with billionaire investors like David Bonderman and Michael Milken, stressing the importance of connecting with investors who believe in their ideas.
Bukie Adebo, an investment principal, echoed these sentiments, emphasizing the need for deep industry knowledge and genuine customer understanding.
Financial Literacy and Product Ownership
Entertainment industry veterans Fantasia Barrino-Taylor and Kirk Franklin underscored the significance of financial literacy and product ownership.
Barrino-Taylor candidly discussed her journey, revealing how a lack of financial knowledge led to significant losses early in her career.
She now advocates for continuous learning and financial independence among Black entrepreneurs. Franklin shared his experience of initially prioritizing craft over business acumen, urging aspiring entrepreneurs to balance artistic talent with business savvy.
Empowering Young Entrepreneurs
Young entrepreneurs Caden Harris and Zoe Oli showcased their efforts in promoting financial literacy and empowerment. Harris, CEO of Caden Teaches, aims to educate over 500,000 children on financial literacy.
Oli, CEO of Beautiful Curly Me, plans to impact a million girls through her product line and social impact projects.
Both highlighted the importance of providing capital and resources to young visionaries to help them scale their ventures.
Advancing DEI Initiatives
Erica Bolden of Mercedes-Benz USA and Ayana Parsons, co-founder of the Fearless Fund, emphasized the need for improved diversity practices and increased financial power within the Black community.
Dr. Sesha Joi Moon, former Chief Diversity Officer in the U.S. House of Representatives, urged the community to remain proactive and united in advancing DEI efforts. Ryan Williams, founder of Cadre, stressed the importance of showcasing Black excellence to counter negative narratives.
The ForbesBLK Summit 2024 served as a platform for inspiring and empowering Black entrepreneurs and leaders, fostering a collaborative environment to discuss strategies for advancing the Black community.
