Minority Majority 014: $2.2M for Beatriz Acevedo's SUMA Wealth, 2024 Latino GRAMMY winners, and the Growth of Latino voters.

INTRODUCTION
Bienvenidos - Welcome to this week’s edition of Minority Majority. Today we explore Beatriz Acevedo's journey with SUMA Wealth, securing vital funding to champion financial literacy among US Latinos, applaud the vibrant achievements of Latino artists at The Grammys, and highlight the significant growth of Latino eligible voters, reflecting our increasing influence in shaping future elections.

So, grab your afternoon cafecito and dive in! ☕️

BUSINESS
SUMA Wealth's $2.2 Million Raise: A Testament to Beatriz Acevedo's Vision for Latino Advancement

On Tuesday, SUMA Wealth announced they raised $2.2 million in fresh venture capital funding. This remarkable feat highlights the platform's significant reach—now boasting 1 million users—and underscores Beatriz Acevedo’s, Co-Founder & CEO, commitment to serving US Latinos.

This achievement is more than a financial milestone; it's a testament to Acevedo's continued efforts in championing the Latino community, reinforcing her position as a relentless advocate with a history of making a difference.

Beatriz Acevedo's story begins in Tijuana, Mexico, where, as an 8-year-old (fueled by her goal to meet Ricky Martin and the boy band Menudo), she stepped into the spotlight as a radio announcer.

Her passion for media didn't just stop at radio; it expanded into television, where she hosted local TV shows for kids and, later, an entertainment news show in Mexico City, called “En Exclusiva,” mirroring the format of "Entertainment Tonight.” Despite early success in Mexico, including winning three Emmys, she pivoted her career toward the U.S. media landscape.

Encouraged by filmmaker Robert Rodriguez, Acevedo sold her car to finance pilots, leading to her first series sale to Discovery Channel. This bold step paved her way as an independent producer in Los Angeles, eventually diversifying her portfolio with shows across multiple genres.

In Hollywood, her frustration with the lack of authentic Latino representation in mainstream media inspired her next venture, Mitú.

Mitú, a digital media platform, was designed to fill the void of culturally resonant content for young Latinos. It emerged during the rise of multi-channel networks (MCNs) but distinguished itself by focusing on content deeply rooted in Latino culture in English, Spanish, and “Spanglish.”

Throughout her tenure at Mitú, the company raised over $50M in capital, received over 2 Billion Views a Month, and ultimately was acquired for an undisclosed sum.

Mitú's success in engaging Latino youth highlights Acevedo's ability to identify and fill critical gaps in the media landscape, which set the stage for her next revolutionary project: SUMA Wealth.

Recognizing the financial disparities faced by Latinos, she aimed to address our community's unique challenges and aspirations. SUMA Wealth offers educational tools and personalized financial advice, leveraging technology to make financial literacy accessible and engaging.

The platform's in-culture approach which leverages artificial intelligence is working, 70% of users increased their savings and 51% of them now have 3 months’ worth of emergency funds. As a company, SUMA Wealth has achieved 62% annual user growth and SUMA Wealth’s revenue increased nearly 5X in the past year.

For Acevedo, SUMA Wealth is more than a business; it's a platform for change, aiming to close the wealth gap within the Latino community. Through SUMA Wealth and The Acevedo Foundation, she continues to challenge the status quo, demonstrating how targeted, culturally informed solutions can significantly alter the financial landscape and empowerment of underserved communities.

Beatriz Acevedo, thank you for pushing our narrative forward and helping nuestra gente!

CULTURA
From Karol G to Rubén Blades: Latino Winners Take Center Stage at the 66th Grammy Awards

At the 66th Annual GRAMMY Awards in Los Angeles this past Sunday (Feb.4), Latino artists made notable strides, capturing awards in diverse categories. Their success highlights the significant influence of Latino talent on the global music industry. Here's a brief look at the standout Latino winners and their remarkable achievements at this year's ceremony.

Karol G led the charge in the Best Música Urbana Album category with "MAÑANA SERÁ BONITO," securing her first Grammy win. Not only is it her first Grammy Win, but she made history as the first female singer to win in this category and first female-artist in Spanish to top the Billboard 200. Competing alongside her were Rauw Alejandro with "SATURNO" and Tainy with "DATA.”

Peso Pluma, the artistic alias of Hassan Emilio Kabande Laija, garnered his first GRAMMY for Best Música Mexicana Album (Including Tejano) with "Génesis," standing out among nominees like Ana Bárbara's "Bordado a Mano," Lila Downs' "La Sánchez," Flor de Toloache's "Motherflower," and Lupita Infante's "Amor Como en las Películas de Antes.”

Gaby Moreno emerged victorious in the Best Latin Pop Album category with "X Mí (Vol. 1)," outperforming Pablo Alborán, AleMor, Paula Arenas, Pedro Capó, and Maluma.

An exciting tie in the Best Latin Rock or Alternative Album saw Colombian star Juanes with "Vida Cotidiana" and Mexican singer-songwriter Natalia Lafourcade with "De Todas Las Flores" both taking home the award. Also in contention were Cabra, Diamante Eléctrico, and Fito Paez.

Miguel Zenón & Luis Perdomo won Best Latin Jazz Album for "El Arte Del Bolero Vol. 2," standing out amongst nominees like Eliane Elias, Ivan Lins with the Tblisi Symphony Orchestra, Bobby Sanabria Multiverse Big Band, and Luciana Souza with Trio Corrente.

Checkout the full List of 2024 Latino Grammy Winners on: Billboard

IMPACTO
Record 36.2 Million Latinos Eligible to Vote: A Turning Point in U.S. Electoral Politics

This year sees a historic high with 36.2 million Latinos eligible to vote, underscoring their growing influence in the electoral landscape as President Biden and former President Trump gear up for a possible electoral showdown. The tally of Latino eligible voters has surged by 12% or about 4 million since the previous presidential election, based on Pew Research Center's findings.

This November, Latinos are set to constitute 14.7% of the total eligible voter base. In the 2020 elections, 59% of Latino voters cast their ballots for Biden, significantly impacting outcomes in pivotal states like Georgia, Arizona, and Nevada. Yet, a substantial portion, approximately 31%, of Hispanic eligible voters falls within the 18 to 29 age group, for which detailed polling insights are scarce.

Recent polls reveal a trend of dissatisfaction among young voters in this age range with Biden, hinting at a potential decrease in turnout for the upcoming election. Moreover, Latino and other minority voters are disproportionately impacted by voter ID laws and have historically shown lower participation rates.

The Biden campaign has initiated strategic efforts targeting young Black and Latino voters, including appearances by Vice President Kamala Harris. In a bid to connect with Latino voters, the campaign has launched six ads in Spanish, English, and Spanglish over the past few months, airing them on streaming services and YouTube.

Conversely, conservative voices acknowledge the GOP's need to adjust its outreach to retain and build upon the support from young Latino voters seen in past elections. The LIBRE Initiative's leaders advocate for the GOP to intensify efforts targeting Latino voters, particularly by focusing on economic issues.

Rev. Samuel Rodriguez Jr., of the National Hispanic Christian Leadership Conference, shared with Axios that Trump's rhetoric on Latino immigrants must be moderated to avoid alienating Latino evangelical voters come Election Day.

Read more on Axios: Number of eligible Hispanic voters hits record high

EN LA COCINA

How to Make: Carimañolas

Carimañolas are a delightful Panamanian snack, consisting of yuca (cassava) fritters filled with seasoned meat or cheese. Here's a straightforward recipe to make Carimañolas at home:

Ingredients:

For the Dough:

• 2 pounds of yuca (cassava), peeled and cut into chunks

• Salt to taste

• Water for boiling

For the Filling:

• 1 pound of ground beef or ground pork

• 1 onion, finely chopped

• 2 cloves of garlic, minced

• 1 bell pepper, finely chopped

• 1 tomato, finely chopped

• Salt and pepper to taste

• Cumin and any other spices you prefer

• 1/2 cup of chopped cilantro

• Oil for frying

• Optional: Cheese for filling

Instructions:

Prepare the Yuca Dough:

1. Boil the Yuca: In a large pot, bring salted water to a boil. Add the yuca chunks and cook until they are very tender, about 20-30 minutes.

2. Mash the Yuca: Drain the yuca and let it cool slightly. Remove any fibrous cores. Mash the yuca until smooth, adding a pinch of salt. If the mixture is too dry, add a little bit of water or milk to achieve a dough-like consistency. Let the dough cool to room temperature.

Make the Filling:

1. Cook the Meat: In a skillet, heat some oil over medium heat. Add the onion, garlic, bell pepper, and tomato, cooking until they're soft. Add the ground meat, breaking it apart with a spoon. Cook until the meat is fully browned.

2. Season: Add salt, pepper, cumin, and any other spices you like to the meat mixture. Stir in the chopped cilantro. Cook for another few minutes, then remove from heat and let it cool.

Assemble the Carimañolas:

1. Shape the Dough: Take a small amount of yuca dough and flatten it in your hand. Place a spoonful of the meat mixture (or a piece of cheese if you prefer) in the center of the dough.

2. Form the Carimañola: Enclose the filling with the dough, shaping it into an oblong form. Repeat with the remaining dough and filling.

Fry the Carimañolas:

1. Heat Oil: In a deep fryer or a large, deep skillet, heat oil to 350°F (175°C).

2. Fry: Fry the carimañolas in batches, turning them occasionally, until they are golden brown on all sides. This should take about 5-7 minutes per batch.

3. Drain: Remove the carimañolas from the oil and drain them on paper towels to remove excess oil.

Serve the carimañolas hot as a snack, appetizer, or part of a meal, accompanied by a dipping sauce if desired. Enjoy the delicious taste of Panama right from your kitchen!

NUESTRO TRIVIA: Last Week’s Answer

Last week, we asked: Who was the first Latin American woman to win a Nobel Prize, and for what category was it awarded?

The correct answer is: Gabriela Mistral, Nobel Prize for Literature

Gabriela Mistral was the first Latin American woman to be honored with a Nobel Prize. She was awarded the Nobel Prize in Literature in 1945. Her poetry, which is renowned for its emotional depth and profound empathy, was recognized for its lyrical beauty as well as its sociocultural impact.

Hailing from Chile, Mistral's work often touched on themes of nature, love, and sorrow, along with a focus on the struggles of the less fortunate, particularly women and children. Her Nobel win not only brought her work to a wider audience but also highlighted the literary contributions of Latin America.

NUESTRO TRIVIA: This Week!

Question: What unique feature does Costa Rica's Nicoya Peninsula have that makes it famous worldwide?

Reply with your guess! Answers will be revealed in the next newsletter!

RIEGA LA VOZ

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