In 2015, the Federal Reserve Bank of Massachusetts found that the average net worth of Black households in Boston was $8.00. The average net worth of white households was $247,500.
$8 for Black households, $247,500 for white households.
This disparity was enough to make Nicole Obi spring into action in a new way and commit to a career in nonprofit. Nicole is the president of BECMA, which stands for Black Economic Council of Massachusetts, and it's focused on policy and advocacy around elements and efforts that need to be made to advance the wellbeing of Blacks in Massachusetts.
In this episode, Nicole helps Elias understand why these disparities exist, what needs to be done to close the racial wealth gap, and how a background in urban planning helps her to lead BECMA today.
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