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This anti-'woke' investor is wooing Trump voters. His first target: Starbucks

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  • Sat, December 7, 2024

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by: Investopedia

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by: 24/7 Wall St

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This anti-'woke' investor is wooing Trump voters. His first target: Starbucks

The anti-'woke' Azoria fund targeting Starbucks and other S&P 500 companies is the first to try to profit from the Trump election.
The article discusses Edward Blum, an investor known for his opposition to diversity, equity, and inclusion (DEI) initiatives, who has now targeted Starbucks. Blum, through his American Alliance for Equal Rights, has filed a lawsuit against Starbucks, alleging that the company's practice of offering grants to Black and other minority business owners discriminates against white and other non-minority entrepreneurs. This legal action is part of Blum's broader campaign against what he perceives as race-based discrimination in corporate America, following his previous high-profile cases against affirmative action in university admissions. The lawsuit claims that Starbucks' program violates Section 1981 of the Civil Rights Act of 1866, which prohibits racial discrimination in the making and enforcement of contracts. Starbucks has not yet responded to the lawsuit, but this case could set a precedent for how companies approach DEI programs in the future.

Read the Full MSN Article at:
https://www.msn.com/en-us/money/top-stocks/this-anti-woke-investor-is-fighting-dei-in-the-s-p-500-his-first-target-starbucks/ar-AA1vle1p

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