A Rothschild who crusaded for kinder capitalism adjusts to the Trump era
Subscribe to enjoy similar stories. Big companies have turned against diversity and environmental action as they try to curry favor with an avowedly anti-woke President Trump. Also turning away from the movements embodied by the acronyms DEI and ESG are academics and one of the leading campaigners for a friendlier form of capitalism, as the entire financial culture shifts.
Lynn Forester de Rothschild is a friend of Hillary Clinton who raised funds for her White House campaign, and roped in Britain’s now-King Charles III and the pope to try to reform capitalism a decade ago. Lady de Rothschild, as the American-British businesswoman is known in the U.K., thinks companies ought to treat their workers and customers well, because it is good for business. But the New Jersey native, who got rich investing in telecoms and whose third marriage brought her into the Rothschild clan, said that this “kind of obvious" point “slid down a slippery slope into an alphabet soup.
I regret the slippery slope and I believe we don’t need to worry about DEI or ESG by name." Sitting on a bar stool in Davos, where the world’s elites were gathered to talk, party and make deals, she said that ESG (environmental, social and governance-focused) investing to push companies to treat the environment and workers better is no longer the right approach. The new hope: Trump could support the working class by increasing the minimum wage and opportunities. This is a big change.
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