* High school students from California, Nevada and Wisconsin win 2024 Junior Investment Club Competition
ATLANTA - Today the 100 Black Men of America and Wells Fargo announced the expansion of the Junior Investment Club, a curriculum-based simulation game that introduces young people to investing. With a $600,000 grant from the Wells Fargo Foundation, the program will expand to 30 markets across the country and continue to support economic empowerment efforts from the 100 Black Men of America to prepare students for their financial futures.
"100 Black Men of America is grateful to Wells Fargo for the tremendous impact the Junior Investment Club is having on our mentees by providing early exposure to investment practices that provide additional pathways to economic opportunity," said Chairman Milton H. Jones. "The decision by Wells Fargo to invest in the expansion of this program is a demonstration of their belief in our shared mission and ultimately to providing financial education resources to youth that will positively impact their futures."
"For roughly 35 years, the 100 Black Men of America and Wells Fargo have worked together to increase pathways to economic advancement," said Darlene Goins, head of Philanthropy and Community Impact at Wells Fargo. "We look forward to expanding the Junior Investment Club to provide more youth with a solid foundation to achieve their future financial goals and grow generational wealth."
The new grant funding was revealed during the 38th Annual Conference of the 100 Black Men of America in Atlanta where three student teams won the 2024 Junior Investment Club Competition - 100 Black Men of Long Beach, CA (first place), 100 Black Men of Madison, WI (second place), and 100 Black Men of Las Vegas, NV (third place). As the Bank of Doing, Wells Fargo surprised all 128 students from the top five finalist teams with $200 each - designed to empower students to invest in their individual financial futures. The funds for each student will be managed by the 100 Black Men of America.
Now in its fifth year, the Junior Investment Club uses the SIFMA Foundation's Stock Market Game, an online investment simulation where student teams are given a virtual $100,000 to invest in stocks, bonds, and mutual funds as a way to learn the value of capital markets and maximizing their portfolios. 750 high school students competed in this year's 14-week competition with the support of 36 mentors from local chapters of the 100 Black Men of America.
About 100 Black Men of America
The 100 Black Men of America is the world's largest volunteer network of Black men focused on mentoring minority youth. The national organization began with nine chapters in 1986. The first chapter was founded in New York City in 1963. The 100 Black Men of America is a national alliance of leading African American men in business, public affairs, and government. Their mission is to improve the quality of life for African Americans, with a specific focus on African-American youth. Since its inception, the organization has grown to more than 4,000 members, with 105 chapters that impact more than 100,000 underserved and underrepresented minority youth every year. Visit www.100blackmen.org for more information on the programs and initiatives of 100 Black Men of America, Inc. and their global network of chapters.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune's 2023 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com
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