SVB donated $73M to Black Lives Matter movement, social justice causes

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Silicon Valley Bank, which collapsed on Friday after a classic bank run, donated more than $73 million to groups related to the Black Lives Matter movement, online records show.

A database from the conservative Claremont Institute shows the bank donated around $73,450,000 to the BLM movement and other social justice-related causes.

As first reported by the Federalist, the now-defunct bank pledged in the summer of 2020 — when the nation was gripped by racial unrest after the police custody death of George Floyd — to increase its commitment to “diversity, equipment, and inclusion (DEI)” in the workplace.

A report from August 2020 highlighted the fact that around two-thirds of the bank’s workforce met the “diversity” criteria.

Another report that year touted SVB’s achievements in supporting minorities.

In an introductory letter to the report, CEO Greg Becker said SVB touted employee matching programs that focused on “pandemic response, social justice, sustainability, and supporting women, Black and Latinx emerging talent, and other underrepresented groups.”