Driven by the vision of NBA legends Jason Kidd and Jaylen Brown, it is designed to close the racial wealth gap.
This new national effort, known as The XChange, seeks to generate $5 billion in net wealth for historically marginalized communities by integrating sports, business education, and cultural innovation into a cohesive, community-based strategy.
Jason Kidd, an Oakland native and Professional Basketball Hall of Famer, and Jaylen Brown, an NBA All-Star and Finals MVP, announced the Oakland XChange (OXC) just days after introducing the Boston XChange (BXC). Both chapters address systemic wealth disparities through commercial real estate ownership, impact investments, and strategic partnerships. The initiative promises to create replicable and scalable models that can be tailored to the unique needs of cities nationwide.
Jason Kidd: The racial wealth gap is not limited to Boston—it’s a national issue affecting Oakland and cities throughout the country. Our mission is to ensure that historically marginalized communities have the tools and resources to invest in their futures, benefiting not just individuals but entire communities.
The XChange taps into the power of professional athletes, business leaders, philanthropists, and influencers passionate about solving wealth inequality. By focusing on place-based strategies, The XChange aims to revitalize underserved neighborhoods and empower residents through shared real estate ownership and access to capital. This initiative, mainly through its chapters in Boston and Oakland, is set to become a national blueprint for wealth-building in marginalized communities.
The Oakland XChange is powered by Oakstop, a social enterprise with a decade-long track record of empowering underserved communities through commercial real estate. Oakstop’s Founder, Trevor Parham, highlighted the importance of place-based strategies in driving sustainable economic development. “Our lived experiences inform market insights and social solutions that help foster sustainable economic development,” Parham said. “I’m proud of Oakstop’s track record for community-led social impact and our synergy with the Boston XChange.”
Oakstop’s influence extends across four active buildings in downtown Oakland, totaling 65,000 square feet. These spaces serve as hubs for community engagement, providing technical assistance, networking opportunities, and access to capital for small businesses and creatives. The nonprofit arm, The Oakstop Effect, has secured a three-year grant from Kaiser Permanente for a larger $15 million strategy to strengthen small businesses in Oakland. This support will bolster Oakstop’s Entrepreneur Ecosystems Program, which accepts new applicants.
Spearheading the Boston chapter, Brown emphasized the importance of collaboration in achieving systemic change.
Jaylen Brown: True systemic change requires collaboration, shared vision, and collective impact. By working with community partners, thought leaders, and cultural influencers, we aim to cultivate a robust network of support and innovation.
The XChange also emphasizes the importance of cultural competency in business education, partnering with leading universities to enhance the entrepreneurial landscape in both cities. The Boston XChange has enlisted the support of institutions like MIT, Harvard Business School, and Roxbury Community College, while the Oakland chapter is collaborating with UC Berkeley’s Haas School of Business and Stanford’s Graduate School of Business.
The initiative will celebrate its launch with community programs, including the XCelerate Oakland conference, later this month. This event will feature prominent figures from the tech and culture sectors, including MC Hammer, Erik Moore of Base Ventures, and Lisha Bell of PayPal Ventures, providing a platform for dialogue and collaboration.
The Creator Incubator + Accelerator applications are open until August 15 in Boston. In partnership with Jrue and Lauren Holiday’s JLH Social Impact Fund, this program offers up to $100,000 in grant funding and three years of coaching to help visionary creators from underrepresented communities launch successful design, media, and fashion businesses.
With its innovative approach and strong community ties, The XChange aims to become a national model for closing the racial wealth gap. By integrating sports with business and cultural education, the initiative provides a unique platform for individuals to lead wealth-building efforts in their communities. The Boston and Oakland chapters are just the beginning of what could be a transformative movement for cities across the United States.
“Place-based strategies are critical for unifying and revitalizing underserved communities,” said Parham. “By anchoring local communities and fostering sustainable economic development, we can create lasting change and build generational wealth that benefits everyone involved.”
