Let’s talk about INVESTMENT. I know that times have felt especially dark lately, BUT I’m telling you, there’s HOPE! What I’m seeing, as many companies have backed out of their racial equity commitments, others are stepping in. The flow of investment that is going to our HBCUs is so encouraging — from last week’s story about Hyundai and Savannah State University ($5M), to this week’s stories about Nvidia x Miles College and MacKenzie Scott…

NMSDC 2024 Impact Report: Black Business Growth

The latest National Minority Supplier Diversity Council Minority Business Economic Impact Report showed meaningful gains for Black-owned firms in 2024 — a second straight year of double-digit growth across revenue, jobs, and wages.

Black-owned businesses generated $75.1 billion in revenue in 2024, up 13% year-over-year, while supporting more than 235,000 U.S. jobs, a 14% increase. Wages at these firms grew 16.6%, reaching $17.6 billion, signaling that progress isn’t just happening on paper — it’s showing up in paychecks.

By contrast, Black women-owned MBEs saw modest movement: a 1% increase in certification count but stagnant revenue growth, underscoring the ongoing need for targeted access to capital and scaling resources.

Industry-wise, the strongest gains came from Construction (up 37%, adding over $2B in new revenue) and Information Technology, where jobs jumped more than 65%. Manufacturing, however, saw an 8% decline in employment — a reminder of how fragile certain sectors remain for small and mid-sized firms.

Despite challenges, Black-owned firms expanded faster, employing more people, and building long-term economic power. Read the full report here.

Miles College Partners with NVIDIA on AI

Miles College is partnering with NVIDIA to make AI fluency a core skill for every graduate. The HBCU will integrate AI across academics, research, and community innovation — fueling new opportunities in Alabama’s growing tech economy. Miles College President Dr. Bobbie Knight said:

“We’re implementing AI fluency to be a core competency for every Miles College graduate — no matter what field they’re in”

Black Ambition Prize

Pharrell Williams hosts the 5th Annual Black Ambition Demo Day in Miami on Nov. 14 — celebrating five years of innovation, impact, and culture. Hosted by Jay Pharoah, the event awards $1M to 25 founders, featuring a fireside chat with Pharrell and Mellody Hobson, backed by sponsors Visa, Louis Vuitton, Adidas, and Lennar Foundation.

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Tesla Still Being Racist

Four new lawsuits accuse Tesla’s Fremont factory of creating “intolerable working conditions” for Black employees — citing harassment, racist language, and blocked promotions. The cases, now in federal court, follow a $3.2M discrimination settlement Tesla paid in 2024.

Black-Owned: LYS Beauty

Bootstrapped from just $500,000 to over $10 million in sales, Tisha Thompson built LYS Beauty into a clean makeup brand redefining inclusivity. Turning down performative DEI funding during the BLM boom, Thompson focused on sustainability, strategy, and staying power—proving that integrity and intention can scale. Now, she’s taking her vision global, showing what it means to lead with purpose in beauty’s most competitive space. LYS Beauty is available at Sephora stores across the US. Find your closest store here.

Run them their Flowers

Data Drop: MacKenzie Scott’s HBCU Gifts

Philanthropist MacKenzie Scott has been busy providing major gifts to a handful of HBCUs, including Howard University, Virginia State University, Alabama State University, Alcorn State University, Clark Atlanta University, Morgan State University, Spelman College, and the UNCF, but did you know that over the last five years, MacKenzie has gifted over $1B to HBCUs? Here’s the breakdown:

When you total it up, even without the undisclosed amounts, MacKenzie has given over $1.044 Billion to HBCUs through her foundation Yield Giving. This is on top of other donations she’s given to Black-centered and Black-led orgs like NAACP, Black Girl Ventures, Black Girls Code, and more. According to the site:

To date, our network of staff and advisors has yielded over $19,250,000,000 to 2,450 non-profit teams to use as they see fit for the benefit of others.

Lord, I’ve seen what you’ve done for others….

DEI BACK?

Election Day brought a blue wave across the country, with progressive wins that included several Black mayors and governors — a strong signal that U.S. citizens haven’t abandoned diversity, equity, inclusion, or social progress, despite political pressure.

Now, as the political tide shifts, the question is whether corporate America will recognize that America isn’t as anti-DEI as they assumed and act accordingly.

Do you think the social progress pendulum will swing back in 2026?

Drop a comment below.