Conservatives Form Anti-Woke Fund To Take On The ‘Ideological Cartel’ Dominating Wall Street

///
3 mins read
FILE PHOTO: Scenes near Wall Street and the New York Stock Exchange (NYSE), in New York

Conservatives Form Anti-Woke Fund To Take On The ‘Ideological Cartel’ Dominating Wall Street

Harold Hutchison on May 10, 2022

A group of prominent investors has formed a new fund to fight back against the big Wall Street players pushing wokeness on major corporations, announcing the fund’s launch Monday.

Strive Asset Management, backed by Paypal co-founder Peter Thiel and ex-biotech executive Vivek Ramaswamy, seeks to take on “the three largest U.S. asset managers — BlackRock, Vanguard and State Street,” arguing the firms have caused “consumer harms” such as high gas prices and pushed unfavorable social agendas, according to a press release announcing the company’s launch.

The company has raised $20 million in assets from Thiel and others including Palantir Technologies co-founder Jon Lonsdale, and intends to combat what Ramaswamy called an “ideological cartel” in Wall Street during an interview with The Wall Street Journal.

Strive aims to promote political neutrality on hot-button social issues and push companies to “focus exclusively on delivering excellent products and services to their customers,” arguing that BlackRock, Vanguard and State Street’s political activism has harmed shareholders. The firm seeks to “compete directly with the world’s largest asset managers by creating investment funds that advocate for the pursuit of excellence over politics in boardrooms across corporate America,” according to its website.

Breaking News
At Jan. 6 Capitol riot hearing, election officials tell of harassment by Trump supporters

“We want iconic American brands like Disney, Coca-Cola and Exxon, and U.S. tech giants like Twitter, Facebook, Amazon and Google to deliver high-quality products that improve our lives, not controversial political ideologies that divide us,” said Ramaswany, author of the book “Woke, Inc.,” an exploration of how corporations began advocating for progressive causes.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected]

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact  licensing@dailycallernewsfoundation.org. Read the full story at the Daily Caller News Foundation