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AmEx Pledges $1 Billion in Push to Promote Racial, Gender Equity

  • Card giant to double spending with U.S. minority-owned firms
  • Company rolled out mandatory diversity training for workers
Inside AmEx's New Centurion Lounge At LAX
Photographer: Patrick T. Fallon/Bloomberg

American Express Co. said it will boost spending with diverse suppliers and develop more inclusive marketing as part of a $1 billion push to expand racial and gender equity.

The firm’s spending with minority-owned U.S. suppliers will double to $750 million annually by the end of 2024, AmEx said Thursday in a statement. The company also pledged $50 million to support nonprofit organizations led by people of color and will offer $25,000 grants to 100 Black female entrepreneurs.