Diddy Pens Letter Accusing Company America Of Exploiting ‘The Almighty Black Greenback’

Media mogul and rapper Sean “Diddy” Combs revealed an open letter on Thursday accusing company America ― and Normal Motors particularly ― of paying lip service to Black companies with out truly supporting them.

“The identical toes these firms use to face with us in solidarity are the identical toes they use to face on our necks,” Diddy wrote within the letter, which was revealed on the web site of his media community, Revolt.

Diddy’s letter echoes the issues of a number of different Black leaders and entrepreneurs who’ve accused GM CEO Mary Barra of stonewalling them and allocating lower than 0.5% of the corporate’s promoting funds to Black-owned firms. Final week, a gaggle together with rapper and actor Ice Dice and Allen Media Group head Byron Allen took out a full-page advert within the Detroit Free Press lambasting Barra.

In response, GM spokesperson Pat Morrissey disputed the promoting funds declare, telling the Free Press that 2% of the corporate’s advert funds is spent on Black companies. Morrissey additionally mentioned the corporate plans to extend this share, aiming for 4% in 2022 and eight% by 2025, and that it’s dedicated to supporting Black-owned firms, together with Revolt.

“Whereas REVOLT does obtain promoting income from GM, our relationship is just not an instance of success,” Diddy wrote in his piece. “As a substitute, REVOLT, identical to different Black-owned media firms, fights for crumbs whereas GM makes billions of {dollars} yearly from the Black group.”

Diddy went on to argue that “not can Company America manipulate our group into believing that incremental progress is suitable motion,” and mentioned GM’s conduct is a symptom of a bigger drawback.

“In 2019, manufacturers spent $239 billion on promoting,” Diddy wrote. “Lower than 1% of that was invested in Black-owned media firms… It’s disrespectful that the identical group that represents 14% of the inhabitants and spends over $1.Four trillion yearly continues to be essentially the most economically undervalued and underserved at each stage. To repeat, $1.Four TRILLION ANNUALLY! The Almighty Black Greenback!”

The media mogul’s passionate entreaty obtained a largely damaging response on social media. Many individuals referred to as the assertion hypocritical, since Diddy has himself been accused of failing to pay artists underneath his music label, Dangerous Boy Data.

Quite a few artists, together with the rapper Mase in 2020, have publicly accused Diddy of maintaining grasp recordings and failing to distribute publishing royalties.