Power Book II: Ghost may be over, but Michael Rainey Jr. is proving his star power extends beyond Hollywood.
With a deep commitment to his Staten Island roots, Rainey has donated $600,000 to kickstart a financial literacy initiative that aims to empower local high school students with the knowledge and tools to build financial security and generational wealth. His generosity serves as the foundation for a program that will bring life-changing financial education to Staten Island youth.
The initiative, valued at $2.4 million, is a collaborative effort between Rainey, the Restoring America through Recovery Education (R.A.R.E.) Foundation, and Equifax. While Rainey’s $600,000 contribution provides the crucial funding to launch and sustain the program, the remaining value comes from in-kind contributions. Equifax is providing students and their families with credit monitoring, identity theft protection, and educational tools, while R.A.R.E. supplies financial literacy materials and the infrastructure to deliver the program across three Staten Island high schools.
Article continues after video.
The initiative was introduced at Port Richmond High School, where Rainey met with students to share his own journey toward financial independence.“If I was these kids coming from this exact room the first thing I would do is go home and ask my parents what their credit score is,” says Rainey Jr. “And then, as time goes on, you become an authorized user on their card and start building your own score.”
The program will offer up to 250,000 students access to comprehensive financial literacy resources. This includes a year-long subscription to Equifax Complete Premier for credit monitoring and identity theft protection, access to e-books like The Power of Credit and Who Stole My Identity? (written by 7-year-old financial literacy advocate Preston “Kid Kredit” Luzunaris), and a 12-course digital financial literacy curriculum. Students can also access free one-on-one credit consultations to better understand the fundamentals of financial management.
For Rainey, this initiative is deeply personal. Staten Island is where he grew up, and he knows the barriers many young people face when they lack financial education.
According to the organization’s website, the R.A.R.E. Foundation strives to provide “essential financial recovery education and training” to underserved communities.” The program also extends to students’ families, offering financial literacy resources and identity protection for parents and guardians. This community-wide approach aims to create lasting change by making financial literacy a family priority.
This isn’t Rainey’s first act of giving back to his hometown. Recently, he joined the Staten Island Turkey Drive, distributing holiday meals to families in need. Through efforts like these, Rainey is solidifying his legacy as a role model for using success as a platform for meaningful change.
By donating $600,000 to this initiative, Michael Rainey Jr. is doing more than giving back—he’s empowering a generation to take control of their financial futures. Staten Island students are learning skills that will shape their lives, their families, and their communities for years to come.
For Rainey, this is what true wealth is all about: sharing the tools for success and building a legacy of opportunity.
