Billionaire Robert F. Smith recently said he believes the private sector should invest billions into reparations for Black Americans. The Vista Equity CEO made the statement during a interview with Reuters. Smith believes companies that benefited the Transatlantic slave trade should invest in reparations for Black Americans.
“I think that’s going to be a political decision that’s going to have to be made and decided upon,” Smith said. “But I think corporations have to also think about, well, what is the right thing to do?”
Smith argued “can bring their expertise and capital to repair the communities that they are directly associated with in the industries in which they cover. I think that has to be a very, a very thoughtful approach. But I think action needs to be taken.”
Smith also said the COVID-19 pandemic has slowed down the world to pay attention to racial inequality.
“It was the silence of the pandemic, i.e., sheltering at home that gave us all a chance to witness certain acts against the African American community,” Smith said. “The killing of George Floyd, Ahmaud Arbery and Breonna Taylor in particular, those three in that period of time, that raised the consciousness and the humanity of Americans and people throughout the world are saying this is just wrong, this is unjust, and enough is enough.”
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