Beyoncé has announced her plans to donate millions of dollars of tour proceeds to students and entrepreneurs through her BeyGOOD Foundation.
According to The Hill, Queen Bey will dole out $100,000 to 10 colleges and universities during the Renaissance tour, which kicks off in May.
The tour will also propel the foundation's Black Parade Route, a program “to celebrate people, communities, and small businesses impacted by economic inequities worldwide” with $1 million. Entrepreneurs will have the opportunity to attend luncheons and win small business grants during the tour.
“The goal is to celebrate small business owners with relief grant opportunities and valued business support services offered by global partners to aid in business sustainability,” the BeyGOOD website reads.
The BeyGOOD initiative was founded in 2013 to help provide aid to communities affected by natural disasters, invest in education, support programs addressing house scarcity and mental health, and serve marginalized communities.
“We believe that everyone has the right to economic equity. And we are keenly aware of the barriers to access, opportunity, and resources that disproportionately impact BIPOC communities,” Ivy McGregor, BeyGOOD Foundation’s executive director, said in a press release. “Our work is rooted in the belief that education, pathways for employment, and support of entrepreneurship are vehicles that help drive sustainable outcomes.”
Beyoncé believes small businesses are “essential," McGregor said.
“It’s more than just a check that people will receive because we have heard from them, we have listened, we have stayed in contact to understand what are your needs. And we know that small businesses support and are a backbone of their economy,” he told CBS News.
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