Berkshire Hathaway, Coca-Cola, and Other Companies Resist Anti-DEI Movement Amid Shareholder Battles

Despite President Trump's executive orders and several companies rolling back their DEI programs, anti-DEI shareholder votes at companies like Coca-Cola and Apple have failed to gain traction. Proposals asking companies to cease DEI efforts have been rejected by 97% of shareholders, with only 1% supporting them. Companies like Bristol Myers Squibb argue that DEI leads to greater financial and patient outcomes, generating shareholder value.

Despite President Trump's executive orders and several companies rolling back their Diversity, Equity, and Inclusion (DEI) programs, anti-DEI shareholder votes at prominent corporations like Coca-Cola and Apple have largely failed to gain traction. Proposals asking companies to cease DEI efforts were rejected by 97% of shareholders, with only 1% supporting them [1].

This trend is a stark contrast to the White House's recent cuts to DEI programs, which have saved the federal government $2.3 billion, including nearly $800 million from the Department of Education alone [2]. The Trump administration has argued that DEI initiatives divide Americans and are not aligned with the administration's goals of enhancing government efficiency.

However, some companies are arguing that DEI leads to greater financial and patient outcomes, generating shareholder value. For instance, Bristol Myers Squibb has maintained its DEI efforts, stating that they contribute to better financial and patient outcomes [1].

The mixed signals from shareholder votes and company policies suggest a complex landscape for DEI in the corporate world. While some shareholders are pushing for a reduction in DEI programs, many companies continue to see the value in these initiatives. This dynamic highlights the ongoing debate and the need for further clarity on the role of DEI in corporate governance and shareholder value creation.

References:

[1] https://news.wttw.com/2025/02/18/donald-trump-administration-gives-schools-2-weeks-end-dei-programs-or-risk-losing
[2] https://thenationaldesk.com/news/politics/white-house-reports-2-point-3-billion-savings-from-dei-program-cuts-diversity-epa-education-state-department