Companies Pull Back From Pride Events as Trump Targets DEI
Pride organizers say major longtime backers are reducing their support as corporate America retreats from diversity initiatives under President Trump.
"After the Bud Light and Target double boycotts from both the right and the left in 2023, a lot of other companies said, 'Whoa, I think we need to slow down,'" Mr. Skallerud said. Some began to dial back spending on Pride-related marketing and events as a result. The retreat - at a moment when many LGBTQ people feel under threat - has added to criticism that corporations only support their community when it benefits them financially, a practice called "pinkwashing" or "rainbow capitalism." It suggests, Mr. Skallerud said, that some companies "were only in it halfheartedly, and they weren't completely our partners."