Ruth Porat (Council of Foreign Relations)
Google CFO Ruth Porat announced that the company is investing $25 million over the next five years in Israel for a skilling initiative. Porat announced the plan while visiting the country.
The money will go into Israel’s tech sector for the country’s sectors that are, as of today, underrepresented in its successful high tech sector known as Startup Nation. Ruth Porat explained that the funding will go to help- women, the ultra-orthodox, Arab Israelis and other groups that have not, as of yet, made their way into the country’s high tech boom. The initiative will support the government’s plan to increase the number of employees in the tech sector, from 10% of Israel’s overall workforce to 15%.
While in Israel, Ruth Porat will be meeting Israeli and Palestinian entrepreneurs and business leaders, policymakers and Google employees. She met Sunday with women and Arab entrepreneurs, engineers and investors and heard about the challenges that they have faced trying to integrate into Israel’s tech sector.
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“At Google, we believe that to have sustainable economic growth, you must have inclusive growth,” said Ruth Porat, in a statement. “By providing members of underrepresented groups with a path into tech, we hope to help create a more diverse workforce and increase opportunities for a broader group of people. We look forward to deepening our commitment to Israel as we work to support the government’s ongoing efforts in this area.”
“My first meeting as Ambassador was with Arab business leaders in Israel to talk about increasing access to greater economic opportunities, and Google’s announcement today is a strong practical step toward that goal,” added U.S. Ambassador to Israel Thomas Nides.
“Diversity is a source of strength for the Startup Nation, and that’s why I enthusiastically support this initiative that invests in underrepresented communities,” said the ambassador.
Ruth Porat joined Google as Senior Vice President and Chief Financial Officer in May 2015 and has also held the same title at Alphabet since it was created in October 2015. She is responsible for Finance, Business Operations and Real Estate & Workplace Services. Prior to joining Google, Ruth was Executive Vice President and Chief Financial Officer of Morgan Stanley and held roles there that included Vice Chairman of Investment Banking, Co-Head of Technology Investment Banking and Global Head of the Financial Institutions Group.
Ruth Porat is also a member of the Board of Directors of Blackstone Inc. and the Stanford Management Company, and the Board of Trustees of Memorial Sloan Kettering Cancer Center. She previously spent ten years on Stanford University’s Board of Trustees.
