November 13, 2025
Black donors have collectively funneled more than $1 billion into HBCUs over the last five years.
Historically Black colleges and universities are receiving an influx of financial donations amid the government’s pulling of formerly established grant funding.
Black donors have collectively funneled more than $1 billion into HBCUs over the last five years. However, billionaire MacKenzie Scott remains the single largest individual donor to HBCUs in modern history. In 2020 and 2022, Scott announced more than $560 million in unrestricted donations to schools, including Tuskegee University, Xavier University of Louisiana, and Prairie View A&M University.
In a public statement, Scott said she has committed to uplifting HBCUs because they are “agents of change” that “support communities that have been chronically underserved.”
Michael Jordan followed with a $100 million pledge through the Jordan Brand to support racial equity initiatives, including multi-year funding for several HBCU athletic and academic programs. Jordan said the goal was to “make a real investment in the next generation.”
Jay-Z added to the groundswell through the Shawn Carter Foundation and Roc Nation. His organizations contributed scholarship funds and pledged support for financial assistance programs at institutions such as Lincoln University and Central State University.
In a statement posted by Roc Nation, Carter emphasized that “education creates pathways for families to build futures.”
While billionaire donors brought unprecedented funds, Black donors in particular helped shape the movement’s direction. AfroTech reported that investor Robert F. Smith and media executive Oprah Winfrey played prominent roles in the more than $1 billion donated to HBCUs.
Smith drew national attention in 2019 when he erased the student debt of the entire Morehouse College graduating class. Winfrey has been supporting historical institutions for decades. She continues her support for HBCUs by expanding scholarship programs and funding leadership centers at Tennessee State University and Morehouse College.
Several HBCU presidents have expressed gratitude. The lack of stipulations attached to the donations allows schools to bolster institutional coffers while investing in research, technology upgrades, and financial aid.
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