Michael Jordan and Jordan Brand will be donating $100million to organizations that support racial equality, they announced in a joint press release on Friday.
NBA great Jordan and his Nike-affiliated company began the release, "The Jordan Brand is us, the Black Community."
The donations will be made over the next 10 years, going to organizations "dedicated to ensuring racial equality, social justice, and greater access to education."
The announced donations are the latest and largest corporate response to date in the aftermath of the death of George Floyd.
Floyd, who was African American, died in the custody of a white police officer in Minneapolis on May 25, sparking protests against police brutality and racism across the United States and worldwide.
"Black lives matter. This isn't a controversial statement," the press release said. "Until the ingrained racism that allows our country's institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of Black people."
Jordan, who was criticized at times during his playing career for not being more of an activist, is now the majority owner of the Charlotte Hornets.
Forbes estimates that Jordan is worth over $2billion and is the fourth-wealthiest African American.
"Jordan Brand is more than one man. It has always been a family," the statement said. "We represent a proud family that has overcome obstacles, fought against discrimination in communities worldwide, and that works every day to erase the stain of racism and the damage of injustice."
The company plans to continue its Jordan Wings Program, which has provided college funding for over 1,800 students in the U.S. and China.