According to the New Jersey Institute for Social Justice, the median household wealth of New Jersey’s white families is $322,500, while the medians for New Jersey’s Latinx and Black families are just $26,100 and $17,700, respectively—one of the worst racial wealth gaps in the nation.
The fundraising goal is high; supporters hope to ultimately raise $100 million to power the New Jersey 40 Acres and a Mule Fund. But it has been attracting attention – and donations – from some of the nation’s largest corporations, including AT&T, Panasonic, RWJ Barnabas Health and Bank of America, which recently committed to invest $5 million in the program. The fund has also seen praise from celebrities such as Shaquille O’Neal and the Rev. Al Sharpton.