A number of billionaires are speaking out against diversity, equity, and inclusion in the business world.
The statements some billionaires have made come after many businesses have put a focus on DEI in recent years, though many areas in the United States have cut their ties with the movement. Several companies in Big Tech, including Google and Facebook parent company Meta, also have cut down on jobs added as part of DEI initiatives.
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Here are some billionaires who are voicing opposition to DEI, either in online statements or in interviews:
Bill Ackman
A Harvard graduate, Bill Ackman spoke out against DEI after Claudine Gay resigned as president of Harvard University. Ackman argued that resentment is one of the biggest drivers of racism and that the lack of true equity in DEI, which he referred to as fairness, contributes to the growing resentment in the U.S.
“DEI is racist because reverse racism is racism, even if it is against white people (and it is remarkable that I even need to point this out),” Ackman’s statement on social media read. “Racism against white people has become considered acceptable by many not to be racism, or alternatively, it is deemed acceptable racism. While this is, of course, absurd, it has become the prevailing view in many universities around the country.”
In light of today’s news, I thought I would try to take a step back and provide perspective on what this is really all about.
I first became concerned about @Harvard when 34 Harvard student organizations, early on the morning of October 8th before Israel had taken any military…
— Bill Ackman (@BillAckman) January 3, 2024
Chip Wilson
The founder of exercise clothing retailer Lululemon stirred discussion online when he spoke out against the company’s focus on diversity, arguing that the brand ought to have some exclusivity if it wants to become more successful. He added that if the brand wants to become more desirable to the public, it should not seek to become a brand with “everything to everybody.”
“And right now, they’re fearful, they run out, instead of living out of possibility, they live out of the fear of media backlash of not including everybody, and that’s just something I don’t agree with,” Wilson said in a recent interview.
Elon Musk
The owner of X, which was once known as Twitter, has spoken out against political correctness several times in the past, recently criticizing DEI and describing it as both immoral and illegal. Musk added that he believes DEI discriminates against people based on their race, which is “literally the definition of racism.”
“DEI is just another word for racism,” Musk wrote on X in sharing Ackman’s statement against DEI. “Shame on anyone who uses it.”
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Vivek Ramaswamy
The 2024 Republican presidential candidate conducted a town hall interview with CNN in mid-December 2023, during which he spoke out against DEI and how it has been abused “in the name of diversity.” The presidential hopeful added that because of this, many areas in the U.S. have lost “diversity of thought.”
“I think if we restore true meritocracy in this country, and embrace true diversity of thought, chances are we’re actually going to have a bunch of different shades of element, and a range of genders and different positions,” Ramaswamy said. “But let it be not a goal, let it just be a byproduct of actually selecting for people who are the best person for the job, and especially in a university setting, diverse viewpoints, as well.”
