Wealth gap solutions take center stage as Ray'Chel Wilson, founder of For Our Last Names, shares her journey from educator to FinTech entrepreneur in this episode of DO GOOD X. Wilson addresses the staggering reality that 60% of minorities have no assets. In contrast, the racial wealth gap costs the U.S. economy $2.1 trillion. Wilson explores financial literacy, healing from financial trauma, and accessing capital-raising resources for underrepresented founders. She offers practical tips on entrepreneurship, finding the right funding, and leveraging government resources. Learn how wealth building requires both individual and institutional solutions as she discusses her Black Wealth Freedom Series books and the power of education around financial literacy and generational wealth.

What You Will Learn in this Episode:

✅ How to address the racial wealth gap by understanding that 60% of minorities have no assets.

✅ Proven capital raising tips for entrepreneurs, including practicing your pitch in the mirror with feedback, maintaining resilience through rejection, and identifying the right funding sources.

✅ Resources available for solo tech founders and minority entrepreneurs, including U.S. Small Business Administration programs, philanthropic accelerators like DO GOOD X, and how to leverage your current job as your first investor in your entrepreneurial journey.

Join the DO GOOD X Community to access resources, connect with purpose-driven entrepreneurs, and grow your impactful business with intention.

TIMESTAMPS:

00:00 Wealth gap solutions and Ray'Chel Wilson's mission to close the racial wealth gap

02:53 Data reveals 60% of minorities lack assets and the $2.1 trillion cost of the wealth gap

04:27 Finding your voice as a black woman entrepreneur and matching business funding to your needs

06:12 Healing financial trauma and connecting individuals to ethical financial professionals

07:21 Capital raising tips for entrepreneurs, including mirror practice and resilience strategies

11:26 Resources for solo tech founders through SBA, nonprofits, and your job as first investor

KEY TAKEAWAYS:

💎 The wealth gap requires dual solutions: healing financial trauma through education while connecting people to non-predatory financial professionals for real estate, investing, and sustainable wealth building throughout their wealth journey.

💎 Capital raising success demands intentional practice with feedback, resilience through rejection, and celebrating wins within your means without overspending, which supports core financial literacy principles for long-term success.

💎 Non-technical entrepreneurs can build successful FinTech companies by deeply understanding the problem, maintaining passion, and recruiting skilled partners who share your mission to close the gender wealth gap and serve underserved communities.

ABOUT THE GUEST:

Ray'Chel Wilson, a changemaker closing the gender & racial wealth gaps, is based in Tulsa, Oklahoma's Black Wall Street. As a Teach for America alumna, the challenges faced by Ray'Chel's scholars inspired her to become a 2x founder - CEO of "Raise the Bar Investments" and of the upcoming "ForOurLastNames" app. Ray’Chel’s education workbooks, personalized curriculum, and keynote speaking have reached seven countries. After paying off her student loans with her investment profits - over 300% gains in under two years, y’all - Ray'Chel Wilson dedicated her life to teaching financial literacy & value-based investing. Currently, Ray’Chel serves as Treasurer of the United Nations Association of Eastern Oklahoma, highlighting her cross-national approach to empowering better “money moves.” With an Investment Management specialization from the University of...