Muoto in 2021
|Black Lives Matter in Los Angeles, United States|
Martin Muoto is a Nigerian-born social activist and entrepreneur from Los Angeles, United States. Muoto initiator of the creation of a fund, part of the profits of which will go to Black Lives Matter Network. He is known as the founder and managing partner of Sola Impact, a real estate company, based in Los Angeles.
Muoto, the CEO of SoLa Impact, is raising $1 billion in a pair of real estate funds to develop housing for Black and Brown communities in California and across the West Coast. Martin Muoto's new Black Impact Fund focuses on opportunity zones and nearby areas. SoLa has been investing in opportunity zones, a program created by the 2017 federal tax overhaul that allows investors to defer and reduce taxes if they reinvest capital gains in designated low-income communities. The $1 billion Black Impact Fund come in the wake of a Black Lives Matter Movement that highlighted a growing wealth gap, racial inequality, systemic racism, and the importance of housing and social services in certain communities. Muoto and his investment fund are attempting to level the playing field and achieve racial equality by providing accessible housing to minority communities that need it most.
Black Impact Fund is that it ensures that the communities also benefit from the fund's investments, according to Martin. He specified that 13% of all asset appreciation and fees earned will go toward funding an affiliated nonprofit Black Impact Community Fund to build for-sale housing for community members to purchase at a cost — encouraging home ownership and wealth creation where it otherwise might not exist.
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- List of Nigerian Americans
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- "Martin Muoto, SoLa Impact". Impact Alpha. 2020-02-07. Retrieved 2021-03-13.
- "This Investor Has Raised $165 Million to House Black and Hispanics In Opportunity Zones". Black Enterprise. 2019-12-03. Retrieved 2021-03-13.
- Fung, Esther (2020-12-01). "Developer Aims to Raise $1 Billion for Investing in Minority Communities". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-03-13.
- "LA Real Estate Investor Raising $1 Billion for Minority Communities". spectrumnews1.com. Retrieved 2021-03-13.
- "Los Angeles Businessman Announces $1 Billion Black Impact Fund". Los Angeles Sentinel. 2020-12-02. Retrieved 2021-03-13.
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