John Hope Bryant, founder, chairman and CEO of Operation HOPE, presented “A Business Plan for America: The Case for the Big Tent” at the 2024 Milken Institute Global Conference.
The founder of the nonprofit, known for helping low- and moderate-income people succeed, highlighted historical data and comparative analysis outlining her plan to ensure America remains an economic powerhouse by preaching the importance of diversity. “America is one of the most diverse countries in the world today. We are also the world's largest economy. Our individual and collective success has literally been built on immigration and diversity,” Hope Bryant said in a lengthy statement. LinkedIn post.
“It has always been that way, it is that way today, and it will always be that way in the future. Choosing to refuse to embrace diversity and inclusion is tantamount to putting the well-being of our children and grandchildren at risk.”
The leaders' five-step plan was presented at a private, behind-the-scenes session on May 6 titled “DEI Reform: Assessing Progress and Backlash,” with panelists including Dina DiLorenzo, president of Guggenheim Investments; Jarvis V. Hollingsworth, chairman of the Texas Teachers Retirement System; R. Don Peebles, chairman of Peebles Corporation; and Bill Ackman, founder and CEO of Pershing Square Capital and an anti-DEI advocate.
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These include America’s demographic trend toward a minority majority, a successful capitalist model that relies on a diverse population, why stifling DEI initiatives is dangerous for business, the need to invest in the economic futures of people of color, and why Americans need to increase their personal wealth to improve America’s global leadership position.
As more companies and educational institutions abandon diversity, equity, and inclusion programs, Hope Bryant offered some interesting facts about why DEI should be protected: According to a study by McKinsey & Company, ethnically diverse organizations are more likely to outperform their non-diverse peers.
He also
America simply doesn't work, he said. “Financially, racism is a very bad economic choice for countries, states, cities, and families themselves.” According to a 2020 report by Citigroup, racism and prejudice against Black people alone cost the U.S. economy a staggering $16 trillion between 2000 and 2020.
The report further noted that eliminating racial discrimination would boost the U.S. economy by $5 trillion over five years, equivalent to a 4 percent increase in U.S. gross domestic product (GDP) on an annual basis. “America's greatest resource is its people, and we are
“Failing to take an honest look at our national economic situation, how we got to this point, and how we can ensure that all Americans have the opportunity to create wealth is harmful to the future of our country,” Hope Bryant said.
He added, “My Business Plan for America was created to focus on the long term as we move toward minority status and strengthen the ladder of upward mobility to secure our collective future.”
