Warner Music Group/Blavatnik Family Foundation Social Justice Fund has given $4.9 million to the Howard University School of Business, the school said in a press release on Monday.
The nearly $5 million gift will help create a music business center, according to the HBCU.
Howard University President Wayne A. I. Frederick thanked the foundation for its gift.
“The contributions of African-American artists to the music and entertainment business are significant, but people of color are still underrepresented on the management side of the industry,” Frederick said. “This gift to the School of Business honors the historic legacy Black people have made in the industry while making a crucial investment in today’s students who will become the leaders of tomorrow.”
According to Howard University, the new center will have a one-year fellowship program that will offer mentorships, coaching and hands-on experience for students interested in careers in the music industry.
“Through the center we will prepare Howard students for management leadership positions and create a pipeline to help diversify all levels of this influential business,” Howard University School of Business Dean Anthony D. Wilbon, Ph.D. said. “Our goal is to prepare students with the skills necessary to succeed, provide the networking opportunities to gain exposure to industry leaders, and create long-term impact in the entertainment board rooms.”
The $100 million Warner Music Group/Blavatnik Family Foundation launched in June 2020, following the killing of George Floyd last year, according to Warner Music Group’s website.
The fund “invests in organizations around the globe that build more just and equitable communities and create real change in the lives of historically underserved and marginalized people,” the website reads.