Silicon Valley Bank recently made headlines yet again when it was revealed that they had donated $73 million to Black Lives Matter causes. This news has been met with heavy criticism now that they’ve failed, with many questioning the wisdom of such a large donation.
Those who oppose the idea of Silicon Valley Bank donating to Black Lives Matter argue that this money could have been used in more productive ways…like not losing it all. While the bank claims to be woke and committed to social justice, it’s also facing financial problems and it probably wasn’t a good idea to donate that much money. But like they say, you go woke, you go broke. This literally happened. The bank should focus on fixing its own problems before trying to solve those of others.
The Claremont Institute database revealed:
“As a point of reference, $82.9 billion is more than the GDP of 46 African countries. In 2022, the Ford Motor Company’s profits were $23 billion,” they also noted. The sum of $82.9 million includes “more than $123 million to the BLM parent organizations directly,” as well as much more to other organizations supporting BLM’s agenda.
The list reveals that several popular corporations from a wide range of different industries supplied the movement with large sums of cash. Walmart, for example, which is based in Arkansas, gave a whopping $100 million in support of BLM and related causes focusing on “racial equity.” Amazon gave even more, supplying the movement with an astonishing $169.5 million. Silicon Valley Bank gave the movement $73.45 million.
What did BLM do with all of that money exactly? Well, it’s unclear what they did with it, but given all of the fraud, embezzlement, and stealing we’ve seen take place within the organization, that money probably just bought some people nice houses.