Rapid Response: Inside PayPal's $530M plan to close the racial wealth gap, with CEO Dan Schulman

Masters of Scale

Jul 11, 2020•30 min

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Episode description

The pandemic has hurt many businesses – but PayPal isn't one of them. PayPal has boomed as e-commerce has swelled, with stock up more than 50% this year and a huge new demographic joining the platform. That doesn't mean, though, that CEO Dan Schulman has been sitting back. PayPal recently committed more than $500 million to support Black and minority-owned businesses, after facilitating some $1.9 billion in PPP loans to largely underbanked communities. Dan says PayPal has a unique opportunity to spur emerging economic recovery – and to make a longterm impact in the fight for racial justice. Interviewed by editor Bob Safian.

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