Meet billionaire Clara Wu Tsai, who built the Liberty into a $600 million team and now plans to fund guaranteed income for new moms
The Nets and Liberty co-owner has spent six years funding loans, startups, basketball courts, and arts programs in Brooklyn. Critics say the spending is hard to track.
Clara Wu Tsai, a billionaire and vice chair of Brooklyn Sports & Entertainment, has established the Social Justice Fund, which focuses on economic mobility for Brooklyn's residents. Among its initiatives, the fund is planning to provide guaranteed income for new mothers in Brownsville, a neighborhood with higher poverty rates than the city average.
Written by urgent.news from Fortune's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
