Readout of the President's Meeting on "My Brother's Keeper"

This afternoon in the State Dining Room, the President met with foundation and business leaders as well as elected officials and senior administration officials to discuss his "My Brother's Keeper" Initiative. The President reiterated his belief in the core American value that if you work hard and play by the rules, you should have the opportunity to succeed -- regardless of the circumstances of your birth. The President thanked the business and foundation leaders for their important work and commitment to make this vision a reality and ensure that more boys and young men of color have the opportunity to get ahead. The foundations supporting today's call to action have already made extensive investments, including $150 million in current spending. The President vowed to continue collaboration with the business sector and foundation community to build on their success and his call to action. Today, the foundations announced that over the next five years they seek to invest at least $200 million, alongside additional investments from their peers in philanthropy and the business community, to find and rapidly spread solutions that have the highest potential to expand opportunity for these boys and young men of color. The President, foundation and business leaders, as well as elected officials and public figures who have come together around this important initiative are resolved to build ladders of opportunity and unlock the full potential of boys and young men of color - something that will benefit all Americans.

Participants in the meeting included:

Business Leaders

• Joe Echevarria, CEO, Deloitte
• Glenn Hutchins, Co-Founder and Co-CEO, Silver Lake
• Magic Johnson, Founder and CEO, Magic Johnson Enterprises
• Adam Silver, Commissioner, National Basketball Association
• Thomas Tull, Founder and CEO, Legendary Entertainment

Foundation Leaders

• The Honorable Michael R. Bloomberg, Founder, Bloomberg Philanthropies
• Cedric Brown, Managing Partner, The Kapor Center for Social Impact
• Alberto Ibargüen, President and CEO, John S. & James L. Knight Foundation
• Dr. Risa Lavizzo-Mourey, President and CEO, Robert Wood Johnson Foundation
• Dr. Patrick McCarthy, President and CEO, The Annie E. Casey Foundation
• La June Montgomery Tabron, President and CEO, Kellogg Foundation
• Christopher G. Oechsli, President and CEO, The Atlantic Philanthropies
• The Honorable Colin Powell, Founder and Chairman, America's Promise Alliance
• Dr. Robert Ross, President and CEO, The California Endowment
• Doug Wood, Program Officer, Ford Foundation (not sitting at table)
• Kenneth H. Zimmerman, Director, U.S Program, Open Society Foundation

Elected Officials

• The Honorable Rahm Emanuel, Mayor, City of Chicago
• Representative Marcia Fudge, Chair, Congressional Black Caucus
• Representative Rubén Hinojosa, Chairman, Congressional Hispanic Caucus

Administration Officials

• Secretary of Education Duncan
• Secretary of Labor Perez
• Secretary of Transportation Foxx
• Valerie Jarrett, Senior Advisor
• Dan Pfeiffer, Senior Advisor
• Gene Sperling, Director of the National Economic Council
• Cecilia Muñoz, Director of the Domestic Policy Council
• Broderick Johnson, Cabinet Secretary
• Acting Deputy Secretary of Education Jim Shelton
• Danielle Gray, former Cabinet Secretary