Democratic presidential candidate Mike Bloomberg came to Tulsa on Sunday to announce a plan to help black Americans build wealth.
Bloomberg said after hundreds of years of slavery, systemic racism and outright attacks on their communities like the Tulsa Race Massacre, the typical black family has just one-tenth the wealth of the typical white family.
"The crimes against black Americans still echo across the centuries, and no single law can wipe that slate clean, not here in Tulsa or anywheres else. But I believe that this is a country where anything is possible, and I believe that we have the power to build a future where color and capital are no longer related," Bloomberg said.
The Greenwood Initiative aims to create 1 million new black homeowners and double the number of black-owned businesses by increasing access to financial assistance and addressing local, state and federal policies that disproportionately hurt black Americans.
Bloomberg said he’d also set up a Neighborhood Equity and Opportunity Office to manage a $70 billion investment in 100 of the country’s most disadvantaged communities.
"And that office will help communities develop revitalization plans and address their needs, everything from job training to transportation and infrastructure to helping more people returning from prison find employment," Bloomberg said. "These things work. Obama started it, Trump canceled it, we got to bring it back."
Bloomberg said the steps in the Greenwood Initiative are concrete, affordable policies.
"If we could eliminate the racial wealth gap in this generation, we could add $1.5 trillion to the American economy. Everyone would benefit. So, what are we waiting for?" Bloomberg said.
Before Bloomberg announced his plan at Greenwood Cultural Center, the Rev. Robert Turner welcomed him into Sunday service at Vernon African Methodist Episcopal Church, the only building not completely destroyed in the 1921 Tulsa Race Massacre.
"I think that for too long, African Americans have been forgotten about, and I’m happy to hear of a candidate in the Democratic primary that is seeking to address that," Turner said.
State Sen. Kevin Matthews introduced Bloomberg before Sunday's announcement.
"After meeting Mike and visiting with his team, I am impressed with his ambitious plans to put federal dollars behind the quest for equity through African American targeted homeownership programs, entrepreneurship programs and neighborhood improvements," Matthews said in a statement.
After Sunday's event, Matthews said he and Bloomberg are "continuing to build a relationship."
State Rep. Monroe Nichols represents a district that includes a significant portion of north Tulsa.
"By coming here and honoring the legacy of the Greenwood Massacre, he has shown that he understands the persistent hardship that African Americans have faced in this country, and that it's time we stop asking so many people to work twice as hard for a tinier slice of the pie. I stand with Mike Bloomberg in his efforts to make sure all Americans can build wealth and get ahead, and I applaud him for looking racism in the face and proposing us a way forward that acknowledges our history and rewrites our reality," Nichols said in a statement.
Bloomberg is the third Democratic presidential candidate to visit Greenwood, following former Texas U.S. Rep. Beto O'Rourke and New Jersey Sen. Cory Booker's separate visits in August 2019.
