SF Pride caught in fallout of anti-DEI backlash

Major corporations, including Anheuser-Busch and Comcast, have withdrawn their sponsorship from San Francisco Pride, resulting in a $300,000 loss for the event. Suzanne Ford, executive director of San Francisco Pride, acknowledged this trend as part of a larger corporate retreat from supporting LGBTQ+ initiatives. According to Gravity Research, 39% of corporations are scaling back external Pride Month engagements this year, a drastic rise from just 9% last year. Furthermore, 57% of companies that are federal contractors plan to reduce their external engagement due to the risk of federal investigations. Fabrice Houdart, founder of the Association of LGBTQ+ Corporate Directors, pointed out that firms in the financial and consulting sectors are particularly likely to withdraw.

The risk associated with engaging in LGBTQ+ issues has increased by 42% since last year, with many companies citing the Trump administration's influence. Despite the loss of corporate sponsors, individual donations to SF Pride have surged, indicating community support remains strong. SF Pride plans to proceed with its event, featuring notable community grand marshals this June.