Spanx Founder Donates $5M to Support Female Entrepreneurs

Sara Blakely and The Spanx by Sara Blakely Foundation has donated $5 million to support female entrepreneurs during the coronavirus pandemic. Ms. Blakely announced the gift in a thoughtful Instagram post and indicated, “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.”

Global Giving, a nonprofit crowdfunding platform for grassroots charitable projects, will be administering the Red Backpack fund and application process, making 1,000 grants of $5,000 each to female entrepreneurs in the United States from April through August.

In adddition to the financial award, each recipient will also receive her very own “lucky” red backpack, the official icon of The Spanx by Sara Blakely Foundation. The online education platform, MasterClass, will also provide all 1,000 recipients with a free annual all-access pass to their 80+ MasterClass sessions.

To apply, visit GlobalGiving.org/redbackpackfund.