Money Musings 💠me + money = 🤪
Something really exciting happened in the news a few weeks ago that has me feeling very hopeful.
On January 23rd, Goldman Sachs announced that it would no longer take a company public in the US or Europe unless it had one woman or diverse board member. No more IPOs (where companies go from being private to having shares on the stock exchange) of companies with all white, straight male board members. And they have plans to up the rule to two diverse board members by 2021.
Why does this matter?
First of all, equality (and what’s right aside), it’s just plain good for business. Research shows that companies with more diverse boards actually perform better, and this is something that’s becoming increasingly important to investors.
Having Goldman Sachs, a top bank that probably does the most IPOs, take a stand on the importance of diversity will not only create meaningful change in the market, it will set the stage for other companies to follow.
Another reason this is a win for Goldman? People, especially in the Millennial and Gen Z generations, are more interested than ever in company values. Seeing companies reflect our values makes us more likely to work with them, talk about them, and stick with them.
I know it worked for me. I am ready to open a Marcus account! 😂
What company values are important to you?
Money Move of the Week
What’s your relationship with money? It sounds funny, but we have a relationship with money just like we have a relationship with anything else. It’s how we interact with it and relate to it. Switch your best friend in for money and you probably wouldn’t even be on speaking terms. It can be hard to pin down what our relationships with money are. Take out a piece of paper (digital or real) and give yourself 90 seconds to answer each of these five questions. Try not to overthink it. Just go with your gut.
What comes to mind when you hear the word:
Wealthy
Rich
Poor
Millionaire
Billionaire
You Gotta See This
As we approach the Democratic Primary, and eventually as we arrive at the general election, we want to be as educated as possible because we have important choices to make. Fortune and Times Up partnered up on a project where they talked to each candidate (including President Trump) about issues that particularly affect women like paid family leave, safe and affordable childcare, sexual harassment, the pay gap, corporate board diversity, and more. See how the candidates (and former candidates) stack up on these issues.