BLACK HISTORY MONTH ROLE MODELS {SERIES} BILLIONAIRE ROBERT F. SMITH – FEBRUARY 23, 2022

Demonstrating black and brown role models to our youth other than Entertainers—role models who teach you how to achieve your FINANCIAL FREEDOM

Disclaimer: Good Day, Readers.  WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.  

He’s back at it again! – Billionaire Robert F. Smith just announced $1.8 million in microgrants for HBCU students, Essence reports.

WEALTH BUILDING POWER PODCAST OF BELOW BLOG

Smith has been working overtime to ensure he does all he can to help create generational wealth for students of color. In 2019, he paid off the student loan debt for the entire graduating class of Morehouse College, eventually extending that debt payoff to the students’ parents as well. Then in 2020, Smith donated $50 million to his Student Freedom Initiative to support STEM students. The organization is a public charity dedicated to ensuring freedom in career and life choices for students attending Minority Serving Institutions. 

 But he didn’t stop there, year by year finding new ways to create even more access and opportunities for students in need. In 2021, Smith launched the “One Stock. One Future” initiative, aimed at creating 1 million Black and Latinx youth shareholders and investors. He then gifted students, staff, and faculty members from NY/New Jersey’s Eagle Academy college prep network with a total of 15,000 shares of stock, naming the 2019 Morehouse grads whose debt he paid off as partners in the gift. Now, Smith has announced another generous endeavor, launching a $1.8 million grant program geared towards HBCU students. 

Smith’s Student Freedom Initiative has partnered with Prudential Financial to provide $1.8 million in microgrants to HBCU students through the Handling Everyday Life Problems for Students (HELPS) Program. The goal of the program is to address financial need for students that may not necessarily be academic related, providing one-time funds for expenses disproportionately faced by Black students.

https://790f38c0502d54539d7feb0b71fa0ff5.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html“Over 75% of students at HBCUs are considered low-income, relying on Pell Grants to meet their college expenses. However, for many of these students, these grants are not enough…During recent onsite visits at multiple HBCUs, we learned from executive leadership and student focus groups that many of our students are unable to overcome financial challenges for expenses that are not directly related to the cost of college. These expenses, left unaddressed, can derail their college plans,” explained Mark A. Brown, Executive Director of the Student Freedom Initiative. 

Some of these challenges included home life challenges, including many students feeling personally responsible for the negative impacts of debt accrued by their parents who took out Parent PLUS loans for their education. Couple that with the lack of financial literacy and the complex promissory notes that keep students in long-term debt long into adulthood and you have a recipe for disaster. It is the goal of the HELPS Program to fill in those financial gaps so students don’t have to “choose between their education and their financial well-being.”

In addition to the microgrants, Prudential will also offer paid internships and pro bono services for HBCU students and families that help promote improved financial literacy. All of it is a part of Prudential and the Student Freedom Initiative’s commitment to closing the racial wealth gap. 

“At Prudential, we’ve spent decades working to close the financial divide, in part through partnerships that address systemic barriers to economic, social, and racial equity. As part of our multi pronged strategy to support HBCUs, our partnership with Student Freedom Initiative will help us scale solutions so that more Black students will remain in college and ultimately graduate, putting them on a path to financial security,” said Sarah Keh, VP of Inclusive Solutions at Prudential Financial. 

Smith, who serves as Chairman of the Student Freedom Initiative, spoke about the importance of the new HELPS Program, saying, “Student Freedom Initiative applauds the leadership of Prudential Financial and their support for our shared mission of eliminating barriers of access for underserved communities. By enabling the launch of the HELPS Program, a vital component of our work to address the holistic needs of HBCU students and families, Prudential’s gift will provide long-needed and often overlooked aid and support persistence of those most vulnerable in our community.” 

https://790f38c0502d54539d7feb0b71fa0ff5.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.htmlStudents can apply for the HELPS Program beginning Spring semester 2022. 

https://www.becauseofthemwecan.com/blogs/news/billionaire-robert-f-smith-announces-1-8-million-in-microgrants-for-hbcu-students

LET’S MAKE SOME MONEY – CRYPTOCURRENCY IS ACCEPTED! 

EXAMPLE CHARITIES I SUPPORT

St Jude Hospital:  https://www.stjude.org/

Wounded Warrior Project:  https://www.woundedwarriorproject.org

Folds of Honor:  https://foldsofhonor.org

Wilson’s No-Kill Animal Shelter:  https://wcnkas.org

TRUST ME – YOU WILL LIKE THE BELOW FREE POPULAR BLOGS!  

YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’s WHAT YOU GIVE!

BLACK HISTORY MONTH ROLE MODELS -REGINALD LEWIS – FEBRUARY 22, 2022

WHAT BLACK HISTORY MONTH MEANS TO ME

The Message of Sidney Poitier’s Success – He improved America’s perceptions of its black countrymen at a time when it mattered.

I WAS TEN YEARS OLD WHEN DR. MARTIN LUTHER KING, JR. WAS ASSASSINATED

“WHAT WE BECOME DEPENDS ON WHAT OUR FATHERS TEACH US AT ODD MOMENTS, WHEN THEY AREN’T TRYING TO TEACH US”

https://wealthbuildingpowers.com/2021/11/03/what-we-become-depends-on-what-our-fathers-teach-us-at-odd-moments-when-they-arent-trying-to-teach-us/

WE NEED MORE STEM MAJORS AND LEGACIES LIKE MYLES JOHNSON!

 

DADS WHO RAISED ME TO BE MORE THAN I COULD BE!

 

PODCAST EPISODE 3: FROM CENTURIES OF VICTIMIZATION TO VICTORY!

CELEBRATING BLACK HISTORY – “EDUCATION IS THE MOST POWERFUL WEAPON WITH WHICH YOU CAN CHANGE THE WORLD” NELSON MANDELLA


IT IS TIME TO STOP PAYING LIP SERVICE TO DR. MARTIN LUTHER KING JR.

RELEVANT TODAY – DR. MARTIN LUTHER KING, JR’S, 1963 LETTER FROM THE BIRMINGHAM JAIL

 

MOST OF YOU HAVE HEARD OF JUSTIN BIEBER – BUT WHO IS KEN FRAIZER?

DOES IT MATTER THAT 73 PERCENT OF BLACK BABIES ARE BORN TO SINGLE MOMS?

 

IF THERE WAS A TIME MACHINE – THESE ARE MY LESSONS LEARNED FOR MY 20’S SELF! – DR. WILLIAM (BILL) POWERS; Ph.D.; SUSPENSE/THRILLER NOVELIST

 

To Join Wealth Building Powers BLOG:

PLEASE SIGN UP TO FOLLOW ME BY PROVIDING YOUR EMAIL IN THE WORDPRESS BLOG PAGE SUBSCRIBE BOX!

Thank you to my followers and readers for your likes and comments.  All comments, recommendations, and feedback are welcomed and utilized to improve this blog.

ABOUT ME

I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.

I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life.  It is my time to serve and give back.

DISCLAIMER

I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and am happy to share my finance and investment lessons.  I am NOT a licensed financial advisor.  Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss. 

 Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.  

I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.

To follow my daily posts on Instagram, CLICK BELOW:

 http://instagram.com/wealth_building_powers

Powers Investments Management, LLC

This blog will provide, information and simple strategies, that will assist you to achieve YOUR financial objectives and long term targets. For over 30 years, I solved multi-million dollar problems, for Fortune 10-250, companies. My formal education includes: Business, Finance and Chemical Engineering {Problem Solving} at: Harvard, Rutgers and North Carolina State. And an additional 30+ years, managing my family’s investment decisions. I currently manage/advise people with net-worths ranging from the tens of thousands to several million dollars.

You May Also Like

SCHOOL FOR THE DEAF WINS STATE FOOTBALL CHAMPIONSHIP FOR THE FIRST TIME IN THEIR 69-YEAR HISTORY! CONGRATULATIONS! -A RAINBOW OF ROLE MODELS {WEDNESDAY SERIES}

WHAT {DO YOU, AS A} CRITICAL THINKER, DO TO LEARN? – PART 6A – CRITICAL THINKING SERIES

ASSOCIATE JUSTICE OF THE U.S. SUPREME COURT, CLARENCE THOMAS – A RAINBOW OF ROLE MODELS {WEDNESDAY SERIES}

THE FIVE-HOUR RULE USED BY BENJAMIN FRANKLIN, BILL GATES & ELON MUSK

Leave a Reply

%d bloggers like this: