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CV NEWS FEED // A group that monitors political bias in corporations released a report detailing the extent to which powerful executives at the nation’s largest and most influential companies overwhelmingly support the Democratic Party.
According to the recent analysis from the 1792 Exchange, “executives from Fortune 10 companies give 77% of their political donations to Democrats and only 23% to Republicans,” Blaze Media reported this week.
However, 1792 Exchange observed that at three Fortune 10 companies in particular, almost all of their executives’ political donations went to Democrats.
All three of these companies are part of the technology sector – Alphabet Inc. (the parent company of Google), Apple, and Amazon.
Blaze Media noted that at these corporations “the ratio of political giving to Democrats over Republicans apparently exceeds 9:1.”
Per the report, 95% percent of political donations by Alphabet’s executives went to Democrats. For both Apple and Amazon, this percentage was an even higher 97%.
Alphabet and Apple have a market capitalization value of over $2 trillion. Amazon is just behind, with a market capitalization value of $1.96 trillion. All three of the Big Tech companies have valuations larger than the GDPs of developed countries such as Australia, South Korea, and Spain.
Conversely, 1792 Exchange found two large corporations where a vast majority of executives’ donations went to Republicans.
“Two outliers among the Fortune 10 in this regard are Chevron and Walmart, where 81% and 69% of political donations from executives and board members went to Republicans,” Blaze media reported.
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Matt Buckham, 1792 Exchange’s vice president for programs, told Blaze Media that his organization’s report shows Fortune 10 companies do not show a “fair representation of viewpoints.”
“Instead of having a clear understanding that [companies] are serving the shareholder, we see a massive tilt of ‘We favor one party’s political opinions, one party’s ideas, one party’s ideology,’” Buckham said.
On its website, 1792 Exchange describes itself as a “non-profit organization whose mission is to develop policy and resources to protect and equip non-profits, small businesses and philanthropy from ‘woke’ corporations.”
The non-profit also opposes and spreads awareness about controversial Environmental, Social, and Governance (ESG) policies, which many large corporations have implemented in recent years.
In addition, 1792 Exchange seeks to “help steer public companies in the United States back to neutral on ideological issues so they can best serve their shareholders and customers with excellence and integrity.”
