Wed Aug 2, 2023 – 8:45 am EDTWed Aug 2, 2023 – 9:45 am EDT
(LifeSiteNews) — Elon Musk has blasted ESG (Environmental, Social, Governance) scores and called the concept “communism rebranded.”
“I’m very pro-environment,” Musk said in a live discussion with Republican presidential candidate Vivek Ramaswamy on X, formerly known as Twitter. “But…we don’t … do some sort of bizarre, communism rebranded thing, which is like a lot of what ESG is, and [inflict it] upon corporate America without the knowledge of the actual shareholders, which is what’s going on.”
“And so I’m saying the public is being lied to by … BlackRock, Fidelity [Investments] … and you guys … need to tell your customers that you’re not making optimal decisions for shareholder value because that’s what’s going on,” he continued.
Musk stated that he believes that investment giants like BlackRock and Vanguard are “setting themselves up for the biggest class action lawsuit in the history of class action lawsuits by an order of magnitude” because they are “breaking the deal with their customers” since, by prioritizing ESG policies, they are “not maximizing shareholder value.”
READ: How BlackRock’s Larry Fink uses ESG and AI to control the
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