John Hope Bryant is energising America’s top business leaders in the fight for “silver rights,” a term he developed to characterise the economic empowerment of minority and low-income communities, by preaching a gospel of financial education and financial freedom.
In order to achieve this, Operation Hope launched Financial Literacy for All in 2021 as a joint initiative with companies like Walmart, Bank of America, and Disney.’
At the Hope Global Forums, a yearly gathering for his foundation Operation Hope, Bryant stated earlier this month, “I don’t know about you, but I’m sick and tired of being sick and exhausted. We hope to have financial literacy taught in schools from kindergarten through college by the time your children are old enough to understand the language of money.
Among the business leaders who joined Bryant on stage at the Hope Global Forums in Atlanta to discuss silver rights and the power of financial literacy were Walmart President and CEO Doug McMillon, co-chair of Financial Literacy for All and other initiative partners Delta Air Lines CEO Ed Bastian, PayPal President and CEO Dan Schulman, billionaire investor Tony Ressler, and civil rights icon and former U.S. Ambassador Andrew Young.
We believe it to be a fundamental issue for families and our country.
When speaking exclusively to CNBC at the Hope Global Forums, McMillon remarked, “We want everyone of our associates to learn how to handle their money.” “To tackle financial education, John Hope Bryant and I have formed Financial Literacy for All.
Before the forums, Bryant compared the gathering to “the Davos for the working class, for the empowerment of the poor and the underprivileged” on CNBC’s “Squawk Box.”
We have the power to make the economy work for everyone, he asserted. Many of the 4,000 delegates, or participants, are from the working class and have too little money.
The goal of Operation Hope is to close the wealth gap in the Black community and other communities of colour. According to the Federal Reserve Bank of St. Louis, the average white family had $1.27 million in wealth as of the second quarter of 2022, while the average Black family had $316,000, and the average Hispanic family had $291,000. By 2030, the nonprofit organisation also intends to establish 1 million new Black-owned enterprises. Another way to achieve economic empowerment and wealth creation is by doing this.
During the ceremony, Bryant declared that the advancement of silver rights must be the next phase of the worldwide social justice and civil rights movements that were inspired by the murder of George Floyd. “Social justice seen via an economic lens, you can have it both ways”
It’s crucial to debunk money myths and promote financial readiness as a potential recession looms. The “Earn Your Leisure” podcast’s Troy Millings and financial counsellor Rashad Bilal spoke to forum participants. On Instagram, the couple has more than a million followers, many of whom are recent Black and Brown community investors. We frequently need to see something before we can be it, according to Millings. People assume that we can take advantage of the opportunity when they see us opening brokerage accounts, investing in startups, and starting enterprises.
The goal is to inform people while also demonstrating how to accomplish it. They promoted a long-term viewpoint on the need of financial literacy.
Look ahead five, ten, or twenty years, said Bilal. “It will prevent you from splurging, that will push you to have an emergency fund, that will force you to save money for your retirement and your children’s school.” Bishop T.D. Jakes, senior pastor at Dallas megachurch The Potter’s House, spoke with Bryant during a fireside talk about the necessity for religious leaders to be major voices in both the civil rights and women’s rights movements.
- Business leaders are rallied by Hope Global Forums for financial literacy
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