Nike commits $40 million for social justice, racial equity

Nike commits $40 million for social justice, racial equity

Nike, Inc. has announced a four-year, $40 million commitment in support of organizations focused on social justice, education, and addressing racial inequality in America.

Commitments from the Nike, Jordan, and Converse brands will launch the initiative, which according to an internal memo obtained by Yahoo Finance will be led by Jordan CEO Craig Williams. For its part, Converse has committed a portion of its share of the $40 million to the NAACP Legal Defense Fund and the Equal Justice Initiative

"Systemic racism and the events that have unfolded across America over the past few weeks serve as an urgent reminder of the continued change needed in our society," said Nike president and CEO John Donahoe. "We know Black Lives Matter. We must educate ourselves more deeply on the issues faced by Black communities and understand the enormous suffering and senseless tragedy racial bigotry creates. The NIKE, Inc. family can always do more but will never stop striving to role model how a diverse company acts."

(Photo credit: NAACP Legal Defense Fund)

"NIKE, Inc. statement on commitment to the black community." Nike press release 06/05/2020. "Converse Statement on Commitment to the Black Community." Converse press release 06/05/2020. Reggie Wade. "Nike commits $40 million to support the black community." Yahoo Finance 06/05/2020.