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Posted under: News Race & Identity

A New Social Investing Initiative Is Fighting To Take Money Out Of Private Prisons

This could be a game changer.

As mass incarceration continues to wreck the Black community, a new initiative, Real Money Moves, aims to remove money from private prisons that profit from family detention. 

Tennessee Titans player Derrick Morgan and Grammy Award-winning musician Esperanza Spalding, along with actresses Amy Schumer and Alyssa Milano are just a few of the names attached to this project.

A long list of A-list celebs has announced their support for the ventured spearheaded by the Candide Group. Thus far, $10 million have been raised from the generous investments of celebrities and activists. 

“Most Americans don’t realize that the big banks that they give all of their money to, household names like Bank of America, Wells Fargo and Chase, actually invest their money in things like private prisons that profit from family detention,” said Alyssa Milano, a Real Money Moves supporter. “It’s time for people who have wealth and influence to put their money where their mouth is and commit to social investing.”

Morgan Simon, a Founding Partner of the social investing firm Candide Group, wants the average person to know how their money is being used to keep a system of injustice going uninterrupted. 

“The most impactful thing you can do when it comes to your money is pick up the phone and ask your financial advisor where your money spends the night,” said Morgan Simon. “We want people to truly own what they own, and we’re excited to be working with celebrities, athletes and activists who are ready to walk the walk and make a real difference.”

Simon believes banking with community banks and credit unions, and investing with firms that direct capital towards social justice, Americans of all socio-economic backgrounds, can make moves with their money that they will feel good about.

“Investing is about building a legacy,” said Tennessee Titans star Derrick Morgan. “That means not just building wealth, but being conscious about what that wealth does in the world. I am proud to be a part of this group of Real Money Moves supporters that have come together and committed over $10M to social investing.”

You can support Real Money Moves by heading to their site and making a pledge.

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Atlanta-based creative, dope photographer, journalist and lover of the wing ding.