Lead Boldly: The Path to Equality Runs Through Corporate America

The Black-white racial wealth gap stands at 8-to-1, Black Americans are prevented from voting en masse, the Black unemployment rate is more than twice that of whites and de jure and de facto segregation persist. It's easy to think that this is where race relations of the U.S. stand today, however, this was the state of the nation in 1963 when Dr. Martin Luther King Jr. delivered his iconic “I Have a Dream” speech at the March on Washington for Jobs and Freedom. I was in the crowd that day, and despite being just a baby, Dr. King’s words and mission have driven the direction of my work and philanthropy.

As we celebrate what would have been Dr. King’s 96th birthday today, Black Americans continue to be excluded from significant opportunities to build wealth and social capital. Black Americans and students disproportionately lack access to affordable high-speed broadband. Additionally, 63% of Black neighborhoods do not have a branch bank. Following the Supreme Court’s decisions that ended the use of affirmative action in college admissions in 2023, they are seeing the doors to educational advancement narrow.

In times like these, people often look for a hero or a symbol who can galvanize communities into action. The reality is that Dr. King was unlike any other. We have to be our own heroes.

While our problems today are rooted in our past and rhyme with the injustice he stood against, we need broader coalitions with the power to drive massive impact if we are to achieve Dr. King’s dream. Doing so will impact all of us, as closing the racial wealth gap could lead to an additional 5% GDP growth in the U.S., or nearly $1.2 trillion. As the Founder, Chairman and CEO of Vista Equity Partners (Vista), I have experienced firsthand the role that business leaders can and should play in driving racial equality, within their companies and the communities they serve.

While immense talent can be found across all of America’s communities, Black Americans continue to face the most harrowing challenges to full economic participation. In a recent analysis of 84 S&P 100 companies with public information, 26% of the more than 127,000 employees let go from 2020 to 2023 were Black, despite Black Americans only making up 14% of the U.S. population.

Despite these startling statistics, I am optimistic that we can reverse these trends. That is why I share my reflections in a new book, Lead Boldly: Seven Principles from Martin Luther King, Jr. Throughout the book, I reflect on how Dr. King’s words and speeches detail the Black American experience, and how I lived those experiences throughout my own life.

I share the different ways that corporate leaders can help us achieve the promised land of which Dr. King spoke. For starters, corporations can look to recruit from more diverse communities, including Historically Black Colleges and Universities (HBCUs), for full-time roles and internships. They can provide job training and mentorship to foster an inclusive workplace that empowers everyone to achieve their full potential. Companies can also partner with nonprofits doing good, local community work, such as those working to bridge the digital divide in Black communities. They can also diversify their own supply chains, supporting more Black businesses and forming what could be lasting business relationships. They can create plans to diversify their boards, bringing in fresh perspectives to make their business more flexible and responsive to evolving, diverse consumer needs. And, pension fund managers can ensure that they are investing their workers' retirements with fund managers who look like those contributing to it.

I see these not just as moral imperatives, but as business imperatives. I have previously written about the financial implications of building diverse workforces: the data shows that diverse companies are six times as likely to be innovative and agile, eight times as likely to achieve better business results, twice as likely to meet or exceed financial targets, and can spot and reduce risks by up to 30%. Building diverse workforces is a fiduciary duty for corporate stewards. With over three-fourths of Americans believing in the positive impacts of diversity in business, it shows that Americans believe in the power of inclusive communities.

This year, Martin Luther King Jr. Day is not just another day of remembrance — it is a day for us to recommit ourselves to strengthening our organizations and communities.

?Dr. King once said that the greatest danger to progress and equity is the “moderate, who is more devoted to ‘order’ than to justice.” As Dr. King said in his last Christmas sermon, “We are all caught in an inescapable network of mutuality, tied into a single garment of destiny.” We rely on each other around the globe for nearly everything we use, buy, sell or interact with. We are all connected, therefore, we must not be moderate in our conviction, but rather decisive in our actions and clear in our advocacy until we finally realize the promise the U.S. for all.

You can find out more about Lead Boldly below.

https://www.businesswire.com/news/home/20250120828745/en/HarperCollins-Leadership-to-Publish-Lead-Boldly-Seven-Principles-from-Martin-Luther-King-Jr.-With-Insights-From-Robert-F.-Smith-on-August-12-2025?