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Media reports top sponsors discarding San Francisco LGBT ‘pride’
(MENAFN) Several major corporate sponsors have withdrawn financial support for this year’s San Francisco LGBTQ Pride event, multiple media outlets reported. The move comes as the administration of President Donald Trump continues to cut federal funding for diversity, equity, and inclusion (DEI) programs.
Among the companies that have pulled out are Comcast, Diageo (owner of Guinness and Smirnoff), and Anheuser-Busch (parent company of Budweiser and Stella Artois), Forbes reported on Friday.
San Francisco Pride organizers had budgeted $3.2 million for the two-day event, expecting $2.3 million from corporate sponsorships, according to executive director Suzanne Ford. However, five sponsors have withdrawn due to financial concerns, resulting in a $300,000 shortfall, Ford told KTVU Fox.
Ford expressed concern over the funding losses, stating:
“Obviously, there's pressure from the federal government.”
Since taking office in January, Trump has eliminated several DEI-related programs, grants, and contracts, arguing that they are wasteful and discriminatory.
Other LGBTQ Pride events in New York, Houston, and Washington have also reported reduced corporate sponsorships. Houston Pride’s board told Forbes that the “political and economic climate” has had a major impact on corporate funding levels.
In recent years, some corporations have scaled back their public support of LGBTQ initiatives following consumer boycotts. In 2023, Anheuser-Busch faced a significant backlash and declining sales after a Bud Light ad campaign featuring trans influencer Dylan Mulvaney, prompting many brands to reconsider their involvement in similar initiatives.
Among the companies that have pulled out are Comcast, Diageo (owner of Guinness and Smirnoff), and Anheuser-Busch (parent company of Budweiser and Stella Artois), Forbes reported on Friday.
San Francisco Pride organizers had budgeted $3.2 million for the two-day event, expecting $2.3 million from corporate sponsorships, according to executive director Suzanne Ford. However, five sponsors have withdrawn due to financial concerns, resulting in a $300,000 shortfall, Ford told KTVU Fox.
Ford expressed concern over the funding losses, stating:
“Obviously, there's pressure from the federal government.”
Since taking office in January, Trump has eliminated several DEI-related programs, grants, and contracts, arguing that they are wasteful and discriminatory.
Other LGBTQ Pride events in New York, Houston, and Washington have also reported reduced corporate sponsorships. Houston Pride’s board told Forbes that the “political and economic climate” has had a major impact on corporate funding levels.
In recent years, some corporations have scaled back their public support of LGBTQ initiatives following consumer boycotts. In 2023, Anheuser-Busch faced a significant backlash and declining sales after a Bud Light ad campaign featuring trans influencer Dylan Mulvaney, prompting many brands to reconsider their involvement in similar initiatives.
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