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Hispanic Wealth Project 2024: A Year of Progress Towards 2034 Goals
The Hispanic Wealth Project (HWP) has embarked on a transformative journey to bridge the wealth gap between Hispanic and non-Hispanic white households. As 2024 drew to a close, HWP reaffirmed its commitment by setting a bold goal: to reduce this disparity by 50% by 2034.
This ambitious target underscores a decade-long effort that revolves around key pillars aimed at fostering economic equity and empowerment within the Hispanic community.
Strategic partnerships have further amplified HWP’s impact. Workshops hosted in collaboration with Airbnb introduced nearly 150 participants to hosting opportunities as a pathway to wealth creation, with 76% of attendees indicating their intention to start hosting. The overwhelmingly positive feedback highlights the program’s success in contributing to HWP’s real estate and financial asset goals.
Similarly, the HWP Accelerator, supported by the San Diego Foundation, provided five early-stage Hispanic founders with critical resources, including marketing, mental health support, and networking opportunities. This initiative bolstered HWP’s business ownership objectives.
Moreover, the partnership with Angeles Investors represents a significant step in increasing access to capital for Hispanic entrepreneurs within the NAHREP network.
2024 also saw the formation of the HWP Advisory Council, bringing together influential leaders such as Mark L. Madrid, Lynette Montoya, Laura Moreno Lucas, Mary Hernandez, Marco Davis, Rachel Sampson, Monica Mantilla and Nely Galán. Their expertise and advocacy will guide HWP in achieving its long-term vision.
At the heart of HWP’s strategy lies a focus on four critical areas—Real Estate, Business Ownership, Financial Assets, and Asset Protection—each with clearly defined objectives. For real estate, the vision includes maintaining a Hispanic homeownership rate of 50% or higher, increasing the number of Hispanic owner-households to 11.5 million, and encouraging greater participation in property investments and real estate professions.
In the realm of business ownership, HWP aspires to elevate the number of Hispanic-owned employer firms to over 600,000 and to triple the venture capital allocated to Hispanic founders. Financial literacy and asset growth also take center stage, with a goal to have half of all Hispanic households owning non-cash financial assets and a 30% increase in Hispanic financial professionals.
Recognizing that wealth creation is only part of the equation, HWP introduced a new focus area in 2024: Asset Protection. By promoting tools such as wills, trusts, and estate plans, the organization aims to ensure the preservation and transfer of wealth across generations.
The progress made in 2024 stands as a testament to the efficacy of HWP’s initiatives. A cornerstone of these efforts is the NAHREP 10 Certified Trainers Program, designed to enhance financial literacy within the Hispanic community. This program achieved remarkable success, reaching 101 certified trainers and hosting over 330 live training sessions that engaged more than 25,000 participants. Surpassing its annual goal of 20,000 attendees, the program also garnered over 222,000 media impressions, amplifying its impact. These efforts directly contribute to HWP’s mission, equipping individuals with the knowledge and tools needed to pursue homeownership, entrepreneurship, and financial stability.
These achievements mark a significant leap forward in HWP’s journey to economic equity. The foundation laid in 2024 promises continued progress in the coming years, as the organization drives forward its mission to create a more equitable future for the Hispanic community. Future reports will detail the measurable outcomes of these initiatives, ensuring transparency and accountability as HWP marches toward its 2034 goals.
Disclosure: Please note that the information provided in this article is for educational and informational purposes only and should not be construed as financial advice.
This ambitious target underscores a decade-long effort that revolves around key pillars aimed at fostering economic equity and empowerment within the Hispanic community.
Strategic partnerships have further amplified HWP’s impact. Workshops hosted in collaboration with Airbnb introduced nearly 150 participants to hosting opportunities as a pathway to wealth creation, with 76% of attendees indicating their intention to start hosting. The overwhelmingly positive feedback highlights the program’s success in contributing to HWP’s real estate and financial asset goals.
Similarly, the HWP Accelerator, supported by the San Diego Foundation, provided five early-stage Hispanic founders with critical resources, including marketing, mental health support, and networking opportunities. This initiative bolstered HWP’s business ownership objectives.
Moreover, the partnership with Angeles Investors represents a significant step in increasing access to capital for Hispanic entrepreneurs within the NAHREP network.
2024 also saw the formation of the HWP Advisory Council, bringing together influential leaders such as Mark L. Madrid, Lynette Montoya, Laura Moreno Lucas, Mary Hernandez, Marco Davis, Rachel Sampson, Monica Mantilla and Nely Galán. Their expertise and advocacy will guide HWP in achieving its long-term vision.
At the heart of HWP’s strategy lies a focus on four critical areas—Real Estate, Business Ownership, Financial Assets, and Asset Protection—each with clearly defined objectives. For real estate, the vision includes maintaining a Hispanic homeownership rate of 50% or higher, increasing the number of Hispanic owner-households to 11.5 million, and encouraging greater participation in property investments and real estate professions.
In the realm of business ownership, HWP aspires to elevate the number of Hispanic-owned employer firms to over 600,000 and to triple the venture capital allocated to Hispanic founders. Financial literacy and asset growth also take center stage, with a goal to have half of all Hispanic households owning non-cash financial assets and a 30% increase in Hispanic financial professionals.
Recognizing that wealth creation is only part of the equation, HWP introduced a new focus area in 2024: Asset Protection. By promoting tools such as wills, trusts, and estate plans, the organization aims to ensure the preservation and transfer of wealth across generations.
The progress made in 2024 stands as a testament to the efficacy of HWP’s initiatives. A cornerstone of these efforts is the NAHREP 10 Certified Trainers Program, designed to enhance financial literacy within the Hispanic community. This program achieved remarkable success, reaching 101 certified trainers and hosting over 330 live training sessions that engaged more than 25,000 participants. Surpassing its annual goal of 20,000 attendees, the program also garnered over 222,000 media impressions, amplifying its impact. These efforts directly contribute to HWP’s mission, equipping individuals with the knowledge and tools needed to pursue homeownership, entrepreneurship, and financial stability.
These achievements mark a significant leap forward in HWP’s journey to economic equity. The foundation laid in 2024 promises continued progress in the coming years, as the organization drives forward its mission to create a more equitable future for the Hispanic community. Future reports will detail the measurable outcomes of these initiatives, ensuring transparency and accountability as HWP marches toward its 2034 goals.
Disclosure: Please note that the information provided in this article is for educational and informational purposes only and should not be construed as financial advice.
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