Black Lives Matter Network is Running Out of Cash and No One Knows Where the Tens of Millions Raised Went
By Mike LaChance Oct. 23, 2024
To make matters worse, despite raising tens of millions of dollars at its height, no one seems to know where all the money went. The most high profile figures associated with the group seemed to cash in and move on, leaving the organization in shambles.
It’s a far cry from where the organization was just a few short years ago.
FOX News reports:Black Lives Matter Global Network Foundation is running out of cash and nearing its end “unless something changes dramatically,” according to a new report.
The Free Press, an independent news organization founded by former New York Times journalist Bari Weiss, on Tuesday published a scathing deep dive into the “scrappy start-up that struck gold in 2020” headlined “BLM Collected Over $90 Million in Donations. Where Did It Go?”
“Capitalizing on the lucrative opportunities afforded to them as high-profile progressives, the three celebrity founders moved on, leaving the operation to wither in the hands of deputies who, sadly, turned on each other. A remarkable spate of legal trouble, brushes with law enforcement, and tangles with the Internal Revenue Service have all but spelled the death of the enterprise that you probably know best as Black Lives Matter,” Free Press reporter Sean Patrick Cooper wrote.
“The spectacular rise and fall of BLM has surprisingly little in common with earlier civil rights campaigns, other than, perhaps, good intentions,” he continued. “How BLM’s leaders exploited George Floyd’s murder to raise millions that they then put into their own pockets more closely resembles the stories of famous grifters like Elizabeth Holmes of Theranos or Sam Bankman-Fried’s foray into ‘effective altruism.’”
One of the main criticisms of BLM from all sides is that they failed to improve the lives of black people, with the exception of a handful of people at the top of the organization.
There are still many questions to be answered, too. You don’t collect nearly $100 million dollars and then just vanish into thin air. People need to be held accountable.
