Phoenix Suns vice-chairman and CEO Jahm Najafi will donate $10 million over the next 10 years to the NBA Foundation in support of economic empowerment for Black communities.
Najafi's donation is on top of $10 million the Suns have already pledged to the foundation, as part of a $300 million initial commitment from all 30 teams.
The NBA Foundation was developed in the summer of 2020 after players paused play during the return-to-play bubble in support of the Black Lives Matter movement. In a statement announcing the launch in August, the NBA said the foundation "will focus on three critical employment transition points: obtaining a first job, securing employment following high school or college, and career advancement once employed."
On top of his new commitment announced Wednesday, Najafi launched the Mission Advancement Corp., alongside former NFL quarterback Colin Kaepernick, in February. The Mission Advancement Corporation is "a special purpose acquisition company committed to partnering, investing and advancing a world class consumer company with the aim of creating meaningful financial, social and cultural value," according to a statement from the NBA Foundation.
“This past year I have been inspired by the NBA family’s efforts to advance social justice, especially through the Board of Governor’s long-term commitment in creating the NBA Foundation,” said Najafi in the statement. “I’ve seen firsthand how economic opportunity can change lives, and I look forward to supporting the Foundation over the next 10 years as they impact the lives of Black youth.”
