SVB Donated 74 Million Dollars To Black Lives Matter

The FDIC took over and bailed out the bank using U.S. tax dollars

File photo/Joe Biden (2023)

Sarah Lapina, Staff Writer

As it turns out, SVB was a massive donor to Black Lives Matter and other social justice causes, to the tune of nearly $74 million dollars. $73,450,000 to be more exact.

The figure comes from an extensive report dropped by the Claremont Institute on Tuesday. The report details $82 billion dollars in social justice/BLM investments by major American companies. SVB stands out as one of the larger donors, next to big donors like Apple ($100 million) and Comcast ($165 million). While at the top of the donation pool, those contributors do pale in comparison to donors like Blackrock ($810 million) and Citigroup ($1.1 billion). However, the group did pledge on their website to provide in total up to $11 billion dollars by 2026 for Diversity, Equity and Inclusion (DEI) programs and racial justice causes.

SVB executives explained on their website the turbulent racial atmosphere following the George Floyd killing and protests prompted them to expand "opportunities for dialogue," a calling that doesn't seem too have much concrete investment return, but ended up taking $74 million dollars out of bank coffers anyway.

The United States is bailing out SVB to a tune of 50 BILLION dollars.

This is beyond the annual threshold of 10 billion dollars to cover losses for the entire banking system.

This bank became woke and disregarded protecting clients assets and deposits. Now this will be the first of many bank collapses.