💸Moneda Moves (49): The presidential candidate receiving more than a third of Latino contributions🗳️
Welcome back for another edition of Moneda Moves!
This week we've been thinking about the 2020 presidential election and ways that candidates appeal to the Latino community. Of the Latino voters who have made more than $23 million in financial contributions to candidates in 2019, the choice is clear: Bernie Sanders is pulling ahead with $8.3 million, or about 36% of total contributions. And while experts say that political donations from Latinos are slowing, money talks. Sanders takes the lead in almost every state except for Minnesota, home to Sen. Amy Klobuchar. We dive into the numbers and coverage from the team at NBC Latino in this notita.
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See you at the bottom.
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinos and money.
An online scam targeted agencies to rob Puerto Rico of more than $4 million📧: An online scam targeted Puerto Rico agencies and aimed to steal more than $4 million. After someone hacked into the computer belonging to a finance worker at the Employee Retirement System in Puerto Rico at the end of last year, the scam began. The hacker then emailed other agencies under the pretense of change in bank accounts. Both the Industrial Development Company and PR's Tourism Company sent money to fraudulent accounts as a result just last month. The news comes in the middle of the Puerto Rican government's ongoing fiscal crisis. Local and federal authorities are not providing further details they say, until their investigation is complete. The article comes from the Associated Press.
Know the powerful/potentes Latinos and up-and-comers in the money world.
Why this month is a great opportunity to talk about the Black community in business 🇺🇸: I've said this before, and I'll write it again: One of my favorite parts of this month so far is reading about the intersection of entrepreneurship, business and the Black community. In the interview we did at Nasdaq this week with Forbes staff reporter Ruth Umoh, we learned that between 2007-2018 Black women-owned business increased by a striking 164%. (If you read Moneda Moves, you know this narrative of growth is similar for the Latina community.)
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We know very well these conversations should extend beyond #BlackHistoryMonth, but the increased attention helps bring the community’s progress and needs into focus. It’s also a great opportunity to see the parallels with other traditionally underrepresented groups in the business space that are creating new companies every day. 💰This is an opening to start conversations that are intersectional too -- in all senses of the word, including ones that cross race.
A big thank you to Ruth for coming to talk about her much needed coverage on the legacy of black entrepreneurship. ⚡️You can find her complete package on being Black in Business at Forbes here.
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Put your money/monedita where your mouth is! Some money updates for thought.
Bernie Sanders leads with Latino contributions 🗳️: Average donations from the Latino community were small at around $15.75 a person, per campaign finance data from Plus Three. Even then, Sanders received more than one third of contributions and more than any other Democratic candidate. The next most popular candidate among Latinos was Rep. Beto O'Rourke of Texas, who has since dropped out of the race, followed by Sen. Elizabeth Warren of Massachusetts. However, NBC Latino notes that the distance between funding for even Sanders and O'Rourke was considerable. O'Rourke only received $2.7 million in comparison.
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