Please ensure Javascript is enabled for purposes of website accessibility

Comcast to Spend $100 Million Fighting for Social Justice, Equality

By Donna Fuscaldo – Jun 8, 2020 at 6:06PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Comcast CEO Brian Roberts said now is the time to put words into action.

Comcast (CMCSA -2.98%) is planning to spend $100 million over the next three years to fight injustice and inequality. 

The tech stock's CEO, Brian Roberts, said in a letter to employees it's time to put the company's outrage over acts of violence against the black community into action via the $100 million commitment. 

Black board with the word racism being erased.


"We know that Comcast alone can't remedy this complex issue. But you have my commitment that our company will try to play an integral role in driving lasting reform," wrote Roberts. "Together, we hope to help create a more equitable, just, and inclusive society." 

Of the outlays, $25 million will be spent on media while $75 million will go to "build programs, allocate resources, and partner with national and local organizations" to drive change. Some of the groups Comcast is supporting with this initiative include the National Urban League, the Equal Justice Initiative, the National Association for the Advancement of Colored People, the National Action Network, and the Community Justice Action Fund. 

Roberts said the company is also focusing on creating a more diverse workforce, highlighting black voices and black stories across its media properties, improving digital equity by connecting more underserved communities, and providing digital skills training to young people and adults. Some of the funds will also go to help small businesses hurt by the COVID-19 pandemic, with a substantial portion of the money earmarked for businesses owned by people of color. Comcast will seek out ideas from employees as to where the money should be allocated. The efforts are being led by Craig Robinson, Comcast's EVP and chief diversity officer at NBCUniversal. 

Comcast is the latest in a string of technology companies that have pledged millions of dollars to fight systemic racism and inequality in America. Widespread protests around the world have been going on for nearly two weeks after the murder of George Floyd in Minneapolis police custody.

Donna Fuscaldo has no position in any of the stocks mentioned. The Motley Fool recommends Comcast. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Comcast Corporation Stock Quote
Comcast Corporation
$30.89 (-2.98%) $0.95

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.