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Peter Buffett Launches Initiative For Women of Color

In a 2013 New York Times op-ed, Peter Buffett, the son of billionaire Warren Buffett, criticized the wealthy and accused them of aligning themselves with philanthropic initiatives that only help the rich get richer and the poor remain in a poor state.

His analysis wasn’t for the sake of just speaking out on an issue, but it became motivation when he posed the question, “how can philanthropy help shift power?” He may have the answer, too.

Led by the younger Buffett, the NoVo Foundation announced a new $90 million initiative that will expand opportunities for girls and young women of color. The additive in these efforts is to give the ladies a voice.

Over the course of seven years, the organization will distribute funds to grassroots and traditional programs whose main focus is to help women achieve in school, work and life.

“Inherently, girls and young women of color already hold incredible power and potential,” said Jennifer Buffett, co-president of the NoVo Foundation, in a statement. “This work is about dismantling the barriers that prevent them from realizing that potential.”

The measure marks the largest investment by a private foundation to address societal and structural inequalities women of color face in the U.S. Get more information here.

*Photo: Huffington Post. A LONG WALK HOME
Young woman participating in an event for A Long Walk Home, a NoVo Foundation grantee dedicating to ending violence against girls and women.