The ‘anti-woke’ fund manager plotting to launch in Britain – with Farage’s help

illuminem summarizes for you the essential news of the day. Read the full piece on The Telegraph or enjoy below:

🗞️ Driving the news: James Fishback, a Trump-supporting US fund manager, is preparing to bring his "anti-woke" investment fund, Azoria Meritocracy, to Britain with support from Nigel Farage
• The fund targets companies with diversity, equity, and inclusion (DEI) policies, claiming such initiatives harm profitability

🔭 The context: Launched at Trump’s Mar-a-Lago residence, Azoria plans to raise $1 billion by investing in S&P 500 companies while snubbing firms like Starbucks for their diversity hiring goals
• Fishback’s efforts reflect a growing backlash in the US against corporate diversity programs, driven by prominent right-wing voices and figures like Bill Ackman

🌍 Why it matters for the planet: Critics argue that dismantling DEI policies risks undermining workplace equity, reversing progress on inclusion and social justice
• This movement challenges the global push for corporate accountability and diversity as key components of sustainable and ethical business practices

⏭️ What's next: Fishback will visit the UK to meet Reform UK leader Nigel Farage and potentially Conservative leader Kemi Badenoch to align efforts against DEI initiatives
• The fund’s expansion could amplify debates around meritocracy, corporate responsibility, and diversity policies in British businesses

💬 One quote: “Racial and gender hiring quotas are unethical and they’re terrible for share prices. If companies get rid of them, they’ll outperform.” – James Fishback, founder of Azoria Meritocracy

📈 One stat: Starbucks has denied having “targets or quotas” in hiring, stating its diversity goals were aspirational and expired in October 2024

Click for more news covering the latest on sustainable finance and corporate governance