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Alicia Keys Launches $1 Billion Fund To Support Black-Owned Businesses

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R&B songstress Alicia Keys is teaming up with the NFL to launch a $1 billion endowment fund aimed at supporting Black businesses and communities.

In a letter obtained by Billboard, Keys said the fund will be steered by Black leadership with a clear goal to empower Black America.

"The fund will create long term solutions with a focus on Black entrepreneurs, businesses, communities, Black schools, banks, and other Black institutions, while addressing persistent social, economic and environmental disparities," Keys wrote.

"It's starting here, but the intention is to build a multi-billion-dollar endowment across multiple industries," she added. "Through our collective action, we can end the needless and preventable agony created by systemic racism."

The launch of the fund came as Keys was set to perform at the NFL's Kickoff event for its 2020 season on Thursday, a move she initially thought to decline because of some of the league's past decisions.

"Yet I realized I HAVE to use my platform, we all need to use our platforms, every chance we get to press for racial equity," Keys said.

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