Change the System | Building Black Wealth

Change the System: Building Black Wealth is a short film documenting the journey of Otis Ward, an Oakland high school senior, as he attends financial education classes at the University of California, Berkeley, Haas School of Business, while grappling with the pressures of leaving his hometown and starting college life. 

According to the Federal Reserve’s Disparities in Wealth by Race and Ethnicity 2019 Survey of Consumer Finances, the typical white family has eight times the wealth of a typical Black family. The survey cites a number of complex societal factors across generations, including how individual savings and investment decisions contribute to wealth accumulation. PG&E leveraged data from the 2019 survey in developing the Economic Equity and Financial Education Pilot Program.

Thank you to Mills College at Northeastern University and UC Berkeley and Haas School of Business for partnering on the Economic Equity and Financial Education Pilot Program that addresses the racial wealth gap in America, as well as Oakland Unified School District and McClymonds High School. A special thank you to Otis and his family for sharing their lives and dreams with all of us.

Read more about PG&E’s Economic Equity and Financial Education Pilot Program: https://www.pgecurrents.com/articles/3739-students-awarded-scholarships-celebrated-graduates-financial-education-program-focused-closing-racial-wealth-gap