The collapse of Silicon Valley Bank (SVB) last week created a global banking crisis, although SVB had contributed over $73 million to the Black Lives Matter (BLM) organization but was thereafter unable to pay its depositors due to a shortage of liquidity.
According to a Claremont Institute database, SVB’s contributions were a portion of over $83 billion in funding that the Black Lives Matter movement got from corporate America, as revealed by Breitbart News last week:
To put it in perspective, the GDP of 46 African countries is less than $82.9 billion. They also mentioned that Ford Motor Company had $23 billion in earnings in 2022. With “more than $123 million to the BLM parent organizations directly,” BLM’s total funding is now at $82.9 million, with even more going to groups that share BLM’s purpose.
Based on the names on this list, we know that some well-known companies from a variety of sectors donated sizable sums to the cause. The Arkansas-based retailer Walmart, for instance, donated a stunning $100 million to promote BLM and associated groups promoting “racial fairness.” Even more generously, Amazon contributed $169.5 million to the cause. Money totaling $73.45 million was donated by Silicon Valley Bank to the cause.
What BLM did with the funds is unknown.
Due to a lack of filing needed non-profit papers, the organization halted fundraising efforts in some states last year. Its leaders’ extravagant spending on real estate and other costs has also raised eyebrows.