K. Kenneth Davis: Addressing Financial Illiteracy Within the Queer Community
Welcome back! Spiffy here, your interplanetary journalist reporting from Planet Earth with an eye on entrepreneurs working to make this world more equitable. Today I’m super excited to speak with K. Kenneth Davis, CEO of The Trans Capitalist L.L.C.
Spiffy: Great to have you here today, Kenneth. Can you tell our audience what challenge The Trans Capitalist L.L.C is addressing?
Kenneth: Thanks for having me, Spiffy! Through The Trans Capitalist L.L.C, I am addressing financial illiteracy within the LGBTQIA+ community, heavily focused on the transgender community. The statistics are horrible for the transgender community, especially trans* people of color. Did you know that the trans* people of color unemployment rate is four times higher than the national average? Did you know that it's said that trans* people are likely to have a salary of $10k/ year? These statistics are accurate because I lived that life where I was transitioning (female to male) myself. So, I want to make sure that any trans people or LGBTQIA+ do not have to go through that, or if they did, I want to make sure I can help them get back on their feet to feel empowered, knowledgeable, and inspired.
Spiffy: What motivated you to do it?
Kenneth: What motivated me to do my work is that I lived the life of being disowned by family, not having a secure place to live, and especially being broke without any means to pay my bills. I had a mental breakdown in the shower because of this, but the book Rich Dad Poor Dad by Robert Kiyosaki changed my life. It let me know there are rules and principles to money, and I wanted to share this gospel with EVERY queer person I know who is struggling financially. Once I got myself out of debt and thriving, I made it my mission to help every queer person in the world! To me, changing people's lives through money is a feeling like no other. Knowing you made a deep impact in their lives is what keeps me going through tough times.
Spiffy: That’s very inspiring! Can you elaborate on how you and The Trans Capitalist L.L.C are working towards a more equitable world?
Kenneth: I am working towards an equitable world by arming every queer person with financial literacy knowledge through workshops, lectures, classes, and a workbook. If you do not know how to manage your personal finances properly, you will continue in the curse of generational poverty. Breaking generational poverty is one of my main goals because, from an economic standpoint, it states that the buying power of the LGBTQ+ community is over $3.7 trillion. I tailor my work around this fact because it shows others that we do have money. We are not broke, but we have to figure out how to gain control and execute strategic plans with our money, and this is where my company comes in to accelerate this process of solutions.
Spiffy: I want to know about a recent milestone you’ve achieved in your work, and the wider impact it makes.
Kenneth: A recent milestone that my company has reached is making the Forbes list of Top Transgender People of Color Entrepreneurs. This honor means the world to me because it shows that I am making a more significant impact than I think and sharing my vision with the world. The effect this achievement has made is that it makes me a "possibility role model" for my community. So often, within the community, we do not have mentors or role models to help us out of poverty or toxic situations. Just having a business inspires others to work for themselves, but most importantly, they can create their income safely.
Spiffy: Congratulations! Is there a startup or project you’ve worked with that exemplifies the impact you’re striving to make?
Kenneth: I created a workbook, The Money Talk, selling across the United States and even worldwide. The workbook gives readers the tools and skills to manage their money and pass this knowledge to their friends and family. Their newfound knowledge can be passed down with the ultimate goal to eradicate generational poverty. For example, the LGBT Center of Brooklyn that I pair with makes my workbook mandatory within their mentorship program. In addition, it is now compulsory within any guest lectures or workshops I facilitate.
Spiffy: Is there anything else you would love to tell our audience?
Kenneth: If you are queer, please do not let society or capitalism make you think that you can not thrive within this world because of your gender. It is possible to live your lifestyle peacefully, have a comfortable life, and achieve any financial goals that you have. I literally started with nothing, and I built an impactful company that does fantastic work to help empower others through mindset and money training.
Spiffy: More power to you, Kenneth! Thanks for speaking with me today—it’s been an honor!
K. Kenneth Davis is a proud Transgender Male who is the CEO of The Trans Capitalist L.L.C which is the fastest growing financial literacy resource for the Queer-Transgender community. He has spent the past three years teaching, coaching, and empowering hundreds of queer people around the world. He is a graduate of Rochester Institute of Technology with a bachelor’s degree in Civil Engineering and received a Masters of Finance from Pace University Lubin’s School of Business. (Nominated by Archana Shah at ImpactHub NY Metropolitan Area. First published on the Ladderworks website on February 3, 2022)© 2022 Ladderworks LLC. Edited by Anushree Nande. Spiffy’s illustration by Shreyas Navare. For the Ladderworks digital curriculum to help K-3 kids advance the UN SDGs, visit Spiffy's Corner here.