The 45 Companies on the MAGA Anti-DEI Hit List
Originally published February 19, 2025
Latest Content
Microsoft Directs Benevity to Drop SPLC Filter
July 22, 2026Microsoft has directed Benevity to stop using the SPLC’s “hate map” to filter nonprofits from its employee gift-matching program. The Daily Signal credits 1792 Exchange, alongside Bowyer Research and The Heritage Foundation, for the shareholder activism that is moving companies away from discriminating against conservatives. Thanks to shareholder activism from 1792 Exchange, Bowyer Research, The Heritage Foundation, and others, a growing list of companies has directed Benevity to stop using the SPLC. The list includes American Express, AT&T, Mastercard, McDonald’s, Nvidia, and Salesforce. The full article can be found in Daily Caller.
Red Flag Case Studies Highlight Corporations Putting Shareholder Value at Risk
July 18, 2026What are some of the red flags we focus on? Certainly, stock price performance matters a great deal because, among other things, it can alert shareholders and others to a corporation that is in the process of embodying “go woke, go broke.” For example, as of July 9, 2026, has apparently underperformed the S&P 500 the past five years, three years, year, and year-to-date, to the tune of roughly 115 percentage points combined. (On the other hand, it is important to note that outperforming an index like the S&P 500 doesn’t necessarily guarantee all is well because a corporation could still be leaving profit on the table pursuing non-pecuniary and politicized agendas.) Another source of “red flag” information we rely on is the 1792 Exchange’s Corporate Bias Ratings and Board Bias Report. In the case of Disney, we get a “high risk” rating, including for concerns related to the promotion of radical gender ideology as well as wasteful and destructive climate commitments. The full article can be found in Daily Signal.
Faith-Aligned Investors, Big Tech, and the Fight Against Child Exploitation
July 8, 2026Some advocates say investors shouldn’t underestimate shareholders’ ability to sway a company’s views. Dustin DeVito is the director of research at the nonprofit 1792 Exchange, which encourages corporations to promote free speech, freedom of religion, and free enterprise. He said company executives sometimes aren’t aware of what’s happening down in the trenches of their businesses’ day-to-day operations, and all they may need is for shareholders to bring a concern to their attention. “When issues are being voted on at a company’s annual general meeting, if you have shares in a company, you have a vote,” explained DeVito. “If you have shares, you have the ability to get in touch with investor relations … [and] have those conversations with the executives.” DeVito also said that CSAM is a new part of the social discussion—one that companies don’t have decades of experience dealing with. “People have not really been taking this seriously or talking about it in a comprehensive way until very recently,” DeVito said. “So just based on just where these companies have been over the past few years, I think there really is a chance for people to have direct engagements with the executives.” The full article can be found …
ESG Rating Inconsistencies and Their Ideological Ends
July 7, 2026Allen Mendenhall’s recent piece on MSCI ranking SpaceX in the same ESG tier as Russia asks a fair question: how does a rocket company advancing American innovation get scored the same as a state waging war? Unbeknownst to many, inconsistencies are common when it comes to ESG portfolios and ratings. In 2022, S&P dropped Tesla from its S&P 500 ESG Index while ExxonMobil landed in the top ten. The EV maker scored worse on an “Environmental, Social, Governance” rating than a major oil company. In fact, according to MIT Sloan’s Aggregate Confusion Project, ESG ratings from major agencies correlate at only about 0.61. Compare that to credit ratings from Moody’s and S&P, which agree 99% of the time. Companies often receive vastly different ESG rating scores from ratings providers, even ones that share a pro-ESG bias. These are the kinds of inconsistencies that led Elon Musk, CEO of the second-largest electric vehicle manufacturer in the world, to declare that ESG is a scam. Mendenhall concludes himself: the SpaceX rating shows ESG functioning less as “socially conscious investing” and more as “a mechanism for advancing ideological ends.”