New York Post·2025-05-02 14:35Core Viewpoint - Goldman Sachs has revised its diversity initiatives, particularly the "One Million Black Women" program, by removing explicit references to race and reframing the language to focus on broader economic terms, reflecting a shift in corporate strategy amid increasing scrutiny and legal concerns related to diversity, equity, and inclusion (DEI) programs [1][2][11]. Group 1: Program Changes - The "One Million Black Women" initiative, originally launched with a commitment of $10 billion in investments and $100 million in philanthropy, has seen its language altered to eliminate specific references to race, now emphasizing terms like "growth and opportunity" [1][5]. - The "Black in Business" program, initially aimed at supporting black businesswomen, has also had racial references removed, now focusing on helping entrepreneurs maintain profitability [4][9]. - Goldman Sachs has shifted the management of investments related to the program to its Urban Investment Group, aligning with federal mandates to support low-income areas [13]. Group 2: Financial Commitments - Updated figures indicate an increase in financial commitments, with investment capital rising from nearly $3 billion to $3.6 billion and philanthropic support increasing from $39.4 million to $41 million [5]. Group 3: Industry Context - The revisions at Goldman Sachs are part of a broader trend among Wall Street firms, including BlackRock and Bank of America, which have also scaled back or modified their DEI initiatives in response to legal pressures and changing political climates [10][18]. - The Supreme Court's 2023 ruling against race-based affirmative action in college admissions has prompted corporations to reconsider their diversity programs to avoid potential legal challenges [11][12].