Brooklyn Nets’ Owner Joe Tsai Pledges $50 Million to Create ‘Economic Mobility’ in Brooklyn’s Black Community

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The Brooklyn Nets, led by owners Joe and Clara Wu Tsai, are pledging $50 million over 10 years to establish and support they hope will lead to economic mobility in the Black community.

The couple will lead a “five-point plan,” which will include continued support for its players pushing for social and economic equality and address wage gaps in communities of color, starting in Brooklyn. The plan will also address diversity within the Nets organization and the National Basketball Association league office.

“After George Floyd’s death, we felt like we needed to take a firm stand on racial injustice,” Clara Wu Tsai said in an interview with CNBC on Monday. “I wanted to state our beliefs on this issue — that racism is pervasive and needs to be addressed, and I wanted to lay out core principles that clarified our purpose as an organization.”

Source: CNBC

LACMA receives $50 million gift (2nd-largest private pledge to project) towards controversial campus rebuild & new building – Existing buildings on Wilshire Blvd to be demolished in process

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The Los Angeles Times reported that a local charitable organization, the W.M. Keck Foundation, offered a $50 million pledge to the project this week, bringing the total commitments to $640 million out of the needed $750 million.

Greg Goldin, a Los Angeles-based critic and architectural historian, heads up the Citizens’ Brigade to Save LACMA. In a conversation with AN, he said the group was dismayed by the Keck Foundation’s choice to donate to the LACMA building fund. Goldin thinks it’s possible that the philanthropy organization doesn’t know what it’s actually paying for. “We don’t know what the board of trustees at the Keck Foundation has seen versus what the public has seen in terms of visuals or building plans,” he said. “If they haven’t seen something other than the absurd renderings released to the world, then they’ve voted on this decision in complete darkness. They’re giving $50 million to what?”

Source: ArchPaper