Atlanta suffers from severe race-based economic inequality. Today, the median household income for blacks is just one-third that of whites. This contributes to the fact that almost 70% of black families are liquid asset poor meaning they don’t have enough money to cover three months worth of bills, compared to 22% of white families. The statistics aren’t much better for Latino families, which maintain a median household income of just about half that of whites. Sixty-six percent of all Latino families in Atlanta are asset poor.
Even when it comes to entrepreneurship, one of the primary drivers of wealth, blacks lag behind white in staggering fashion with white-owned companies generating ten times the revenue of black-owned companies and eight times the revenue of Latino companies (Prosperity Now, 2017). Longstanding inequality has resulted in a formidable racial wealth gap, which passively addressed will require greater than 200 years to close. This gap has drastic implications for people of color’s ability to access the care and opportunity necessary to thrive. Without brave and daring solutions, rampant inequities will persist.
WHO WE ARE
Atlanta Wealth Building Initiative (AWBI) is an intermediary that seeks to achieve shared prosperity by closing the racial wealth gap.
An Atlanta where prosperity is shared.
At AWBI we are actively reimagining economic realities to produce an opportunity-rich future for all.
Inclusion: Our solutions are defined, designed and implemented through meaningful and responsible community engagement.
Collaboration: Our work is activated through intentional partnerships that span industries and sectors.
Innovation: We cultivate and inspire solutions that are smart, relevant and creative.
Courage: We are bold in our advocacy for communities of color and committed to advancing tough conversations related to racial equity.
Impact: We are dedicated to supporting catalytic solutions capable of bringing about incremental, yet lasting change.
Sustainability: We employ best practices that advance social, economic and environmental sustainability.