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Diversity Is More Than A Buzzword — It’s A Multibillion-Dollar Industry. Here’s How That Money Is Being Spent

(Max Whittaker/Getty Images)

Varun Hukeri General Assignment & Analysis Reporter
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Since the election of President Donald Trump and the mainstreaming of movements like Black Lives Matter, “diversity” has transformed from a buzzword into a multibillion-dollar industry with broad influence over corporations, universities and activism.

MIT professor Thomas Kochan concluded in a 2003 study that companies spent around $8 billion on diversity efforts. Since then, diversity has become a pervasive force in American society, with the emergence of what feminist academic Andrea Smith calls “social justice activism in the academic-industrial complex.”