LGBTQ+ pride festivals around the country have lost millions of dollars in corporate sponsorships this year, as more companies fear being targeted by the Trump administration over their diversity, equity and inclusion initiatives.
Nearly a fourth of corporate donors to NYC Pride, including Mastercard, Citi, Pepsi, Nissan and PwC, pulled sponsorships totaling an estimated $750,000.
At WorldPride, held this year in Washington, D.C., consulting giants Booz Allen Hamilton and Deloitte dropped their sponsorships and have lost nearly $260,000 in funding.
Anheuser-Busch, the brewer for the brands Budweiser and Bud Light, withdrew sponsorship from pride events in San Francisco and Columbus, and in St. Louis where the company is headquartered.
The sharp decline in corporate sponsorship for pride festivals this year comes as President Donald Trump has threatened anything related to DEI and associated with the LGBTQ+ community ― and corporations have retreated their support.
