Jaylen Brown starts 'Black Wall Street' initiative in Boston to reduce racial wealth gap

In 2023, Boston Celtics star Jaylen Brown said that he wanted to develop a, quote-unquote, Black Wall Street in Boston after signing a historic extension worth over $300 million. This week, the Celtics star took the first step toward making his dream a reality with the launch of a nonprofit called Boston XChange.

The initiative was launched in partnership with Jrue Holiday and his wife's JLH Social Impact Fund, with the goal being to help create $5 billion in generational wealth in black communities across Boston.

According to a report from The Boston Globe, the Boston XChange is also partnered with both MIT and Harvard Business School. The program will sponsor 10 entrepreneurs in the Boston community with $100,000 in funding over a three-year span in various fields such as entertainment, fashion, and the arts.

In addition to the $100,000 in funding the Boston XChange will provide, those who are selected will also have access to a work space and, what the Boston Globe has described as: "Business services valued at more than $150,000"

In an interview with the outlet, Jaylen Brown spoke about the positive change he hopes to spark with the launch of the Boston XChange, revealing that he hopes the program becomes part of his legacy as a Boston Celtic:

“It will be a hub for diverse creators and entrepreneurs. It will operate kind of at the intersection between business and culture. I believe that when you invest in the creator and the culture, it strengthens entire cities.”

So far, there has been no statement yet on the Boston XChange initiative from Jrue Holiday, who is currently competing for Team USA in the 2024 Paris Olympics.

Looking at Jaylen Brown's philanthropic endeavors beyond Boston XChange

While Jaylen Brown's Boston XChange is poised to be a difference-maker in the Boston area, this isn't the first time that the NBA star has used his platform, and his money, to make a difference in his local community.

Prior to the launch of Boston XChange, Brown also launched the 7uice Foundation, aimed at knocking down barriers for communities of color. According to the foundation's website, their Bridge Program helps to connect students of color with mentors and various opportunities in potential career paths.

A statement from Jaylen Brown on The 7uice Foundation's website indicates just how important the Foundation's mission is to the reigning Finals MVP:

“The kids who have contributions to make, but are stumped by lack of opportunity...I'll forever fight for those kids because I am one of them.”

As he explained in a separate interview with NBC Boston last summer, he aims to give kids without the resources to pursue their dreams the opportunity to do so. Now, with his Boston XChange program and The 7uice Foundation, it's clear that Jaylen Brown's impact on his local community will forever go beyond basketball.