PayPal—PayPal committed $535 million to close the racial wealth gap and advance racial equity
In 2020, under CEO Dan Schulman, PayPal committed $535 million to initiatives aimed at closing the racial wealth gap and advancing racial equity in the United States. This included investments in Black and minority-owned businesses, community financial institutions, and internal DEI programs. The commitment was one of the largest corporate racial equity pledges made during that period.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| DEI Programs | +toward | secondary | +0.50 |
| Racial Justice | +toward | primary | +1.00 |
| Overall incident score = | +0.643 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.57)
Evidence (1 signal)
PayPal announced $535 million racial equity commitment including Black business investments and internal DEI programs
PayPal committed $535 million to advance racial equity, including $530 million deposited into Black- and minority-owned depository institutions and community development financial institutions, and $15 million for internal DEI programs and racial equity thought leadership.