“This is an incredible opportunity to invest in an undercapitalized market,” Ballmer said in a statement. He explained that the investment would go to Black investment fund managers, who would be required to invest at least 30% of that amount into Black-led businesses. “Our goal is to feed that need for venture start-up capital that is missing in the African American community,” Ballmer said live on the Today show on Wednesday. Ballmer, along with wife Connie Ballmer, will partner with established private equity firms and investment banks to help address the systemic racial inequities that have hindered investment into these businesses in the past, the couple wrote in a blog post Wednesday.
Now he’s investing $400 million to support Black-owned businesses. Clippers NBA team and former CEO of Microsoft, has been a major philanthropist for years. Steve Ballmer, billionaire owner of the L.A.
