A 2023 McKinsey & Company report revealed that women tech founders receive only 1.9 percent of venture capital funding, with black women receiving less than 0.9 percent. However, between 2017 and 2020, the number of Black women-owned businesses increased by nearly 20%, far exceeding the growth of women-owned businesses according to the Brookings Institution reports..

Despite diversity initiatives aimed at hiring more underrepresented minorities in tech, there were fewer black women in tech, representing only 3%. With the rise in anti-DEI efforts sweeping the nation there are even fewer opportunities for Black women across various industries. By undermining DEI initiatives, opponents of financial equity hinder progress for Black Women to close the racial wealth gap, achieve economic stability, and build wealth.