An Anti-ESG Activist Investor Presses for Changes at Apple and Disney
By Allison Prang
An activist investor who has been a sharp critic of so-called environmental, social and governance, or ESG, investing is urging Apple Inc. AAPL 0.34%increase; green up pointing triangle and Walt Disney Co. DIS -1.12%decrease; red down pointing triangle to not engage in political discussions and to make employment decisions without taking an individual’s race, sex or political opinions into account.
Vivek Ramaswamy, who recently launched Strive Asset Management, said Disney should no longer take public positions on political issues that aren’t related to the company’s core business. The letter cited how Disney Chief Executive Bob Chapek took a stance on Florida’s parental rights in education bill.
“Disney must act now,” Mr. Ramaswamy wrote in his letter, dated Monday. “If Disney continues speaking out on political issues that do not affect its business, it will face even greater pressure to act when they do. And the sides Disney will be expected to take won’t be the ones that are favorable to its business.”
