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Two corporate sponsors have pulled out of September’s Pridefest in Richmond, Virginia, citing recent federal restrictions on diversity, equity, and inclusion (DEI) initiatives.
Axios reported May 22 that James Millner, one of the organizers of the event, said two corporations pulled their sponsorships, though he did not specify which corporations. He added that the corporations cited President Donald Trump’s executive order restricting DEI programs.
He added that the event typically has more than 30 sponsors, and the event costs $300,000 to $400,000.
“We’re at a point now, if more pulled out, it’s going to make a big difference,” he told the outlet.
The news aligns with broader national trends. According to a Gravity Research study, 39% of US corporations are reducing their involvement in external “gay pride” events, Axios noted. Approximately six in 10 of those companies cite Trump’s administration as the reason for their change. The second- and third-leading reasons were conservative activists and policymakers.
>> Anheuser-Busch declines to sponsor St. Louis PrideFest, breaks 30-year partnership <<
