Spanx Founder Sara Blakely Gives Away $5 Million to Help Female Entrepreneurs During Coronavirus Crisis

Sara Blakely, the woman behind shape-wear empire Spanx, has announced she’s giving away $5 million during the coronavirus pandemic to support women who run small businesses.

“My hope is that this gift will help alleviate some of the pressures caused by this horrible pandemic,” Blakely writes in an Insta post.

 

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I’m announcing today I’m giving $5 million directly to female entrepreneurs to help support their businesses, families and employees. This donation will provide 1,000 female business owners here in the United States with $5,000 in funding each. My hope is that this gift will help alleviate some of the pressures caused by this horrible pandemic. I know first hand what it’s like to be a small business owner. As a woman it can be lonely and scary, especially during a time like this. Small business is the backbone of our culture and I want to help. We have teamed up with @globalgiving to manage the application process. The applications to receive these donations will open Monday, April 6th and will be available for the next 5 months. All you have to do is visit @globalgiving’s website at www.globalgiving.org/redbackpackfund and complete an application for The Red Backpack Fund. I named it “The Red Backpack Fund” because I started @Spanx with my “lucky” red backpack from college. So each recipient will also receive a “lucky” red backpack. It’s a nod to starting small while dreaming big and is also a reminder that everything you need to succeed is right there on your back. It’s also become the official icon of the Spanx by Sara Blakely Foundation, and the original backpack hangs framed on the wall at Spanx Headquarters. Thanks to the @masterclass team, each woman will also receive an all-access annual pass to @MasterClass and all of their instructors, including my class on entrepreneurship. My hope is that with this funding and mentorship, you’ll find support and comfort during this time. It’s been my greater mission in life to empower and elevate women, and when you help a woman fulfill her potential… magic happens. 💪🎒Visit the link in my bio to apply. www.GlobalGiving.org/RedBackpackFund #Spanx #GivingBack #FemaleFounders #WomenSupportingWomen #SmallBusiness #TheRedBackpackFund #GiveBack #SupportSmallBusiness

A post shared by Sara Blakely (@sarablakely) on Apr 3, 2020 at 8:42am PDT

“I know first hand what it’s like to be a small business owner. As a woman it can be lonely and scary, especially during a time like this,” she continues. “Small business is the backbone of our culture and I want to help.”

Blakely will be making grants of $5,000 to 1,000 women in the U.S through her Red Backpack Fund – because she had a “lucky” red backpack when she was in college and it’s the symbol used for the Spanx by Sara Blakely Foundation. 

But wait, there’s more.

In addition to the grant, each woman will receive her very own “red backpack” with an all-access pass to Blakely’s MasterClass on entrepreneurship.

Blakely ends her social media post by saying,”it’s been my greater mission in life to empower and elevate women, and when you help a woman fulfil her potential …magic happens.”

You can check out her Masterclass below. Please note CelebrityKind may be compensated if you make any purchases through this link: