Jaylen Brown Aims To Recreate Black Wall Street In Boston

Boston Celtics guard Jaylen Brown is aiming to recreate the historic Black Wall Street in Boston with his nonprofit organization Boston XChange (BXC).

At 27, Brown is launching BXC that will be dedicated to building generational wealth within Black and Brown communities. 

In collaboration with Harvard Business School, Roxbury Community College, and teammate Jrue Holiday’s JLH Fund, BXC is offering up to $250,000 in total grant investments. 

The selected grantees will receive three years of coaching and mentorship, aimed at creating sustainability and culturally competent initiatives. 

Addressing Wealth Disparity in Boston

Brown’s decision to focus on Boston is informed by economic disparities in the city. 

A 2015 study by the Boston Federal Reserve Bank revealed a median net worth of $250,000 for white households, compared to $8 for Black households. 

These figures underscore the economic divide Brown hopes to bridge through Boston XChange.

BXC’s mission is to generate $5 billion in new wealth for underrepresented communities through strategic investments and partnerships. 

“To be able to give access to capital, create sustainability and culturally competent initiatives, all of these insights have informed us on how to create this program for Boston,” Brown said in a Zoom interview with Bloomberg.

Empowering Boston’s Creators

One of the first major initiatives under BXC is the Boston Creator Incubator & Accelerator, launched in partnership with Jrue and Lauren Holiday’s JLH Social Impact Fund. 

This program is designed to support creators in industries such as design, arts, media, entertainment, fashion, and culinary arts. 

Participants will have access to workspaces and up to $100,000 in grant funding, along with business services and coaching over three years.

The initiative has already gained support from prominent institutions like MIT’s Martin Trust Center, Harvard Business School, and Roxbury Community College. 

The goal is to provide underrepresented creators with the resources and community needed to thrive.

“It’s exciting to have a systems change catalyst like Jaylen use his platform to convene, incentivize, and drive collective change,” said Yscaira Jimenez, BXC entrepreneur in residence and MIT lecturer on systems change innovation. 

Feature Image Credit: The Boston Globe