Published in The New York Times
By Darren Walker
I have lived on both sides of American inequality. I began life in the bottom 1 percent but found my way to the top. And I know, all too personally, that the distance between the two never has been greater.
Last winter, at a black-tie gala — the kind of event where guests pay $100,000 for a table — I joined some of New York’s wealthiest philanthropists in an opulently decorated ballroom. I had the ominous sense that we were eating lobster on the Titanic.
That evening, a billionaire who made his money in private equity delivered a soliloquy to me about America’s dazzling economic growth and record low unemployment among African-Americans in particular. I reminded him that many of these jobs are low-wage and dead-end, and that the proliferation of these very jobs is one reason that inequality is growing worse. He simply looked past me, over my shoulder.
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The Ford Foundation is an independent organization working to address inequality and build a future grounded in justice. For more than 85 years, it has supported visionaries on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. Today, with an endowment of $16 billion, the foundation has headquarters in New York and 10 regional offices across Africa, Asia, Latin America, and the Middle East.
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