Tue Jun 6, 2023 – 1:05 pm EDTTue Jun 6, 2023 – 1:08 pm EDT
(LifeSiteNews) — Former Anheuser-Busch executive Anson Frericks recently described how large asset management firms like BlackRock, Vanguard, and State Street pressure companies to “go woke.”
Given the recent backlash against the radically “woke” ad campaigns by Bud Light (owned by Anheuser-Busch) and Target that have cost these companies millions of dollars, many are wondering why corporations are still opting to push the pro-LGBT agenda and other increasingly unpopular left-wing causes.
In a June 2 interview with Fox News host Jesse Watters, Frericks said that to understand why so many corporations are going woke “you just have to follow the money.”
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“You take a look at BlackRock, State Street, Vanguard, they manage 20 trillion dollars worth of capital,” Frericks said. “But it’s not their own money, its the money of everyday citizens, firefighters, police officers, doctors, who generally have their money in 401Ks or, in a lot of cases, large pension funds.”
“[These pension funds include funds for] the State of California, which manages the largest pension fund in the U.S., and the State of New York, and the
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