Billionaire business tycoon Elon Musk took a swipe at ESG on Sunday by declaring that the letter “S” in the acronym means “Satanic.”
“The S in ESG stands for Satanic,” Musk tweeted.
Musk has previously used similar language to describe ESG, tweeting in November that “ESG is the devil.”
In May of 2022, he described ESG as “a scam” and said it had “been weaponized by phony social justice warriors.”
The acronym actually stands for “environmental, social, and governance.” ESG-focused investing is controversial, and some states have been divesting from BlackRock, a behemoth investment-related company that promotes ESG ideology.
“In my opinion, your support of ESG investing is inconsistent with the best economic interests and values of Louisiana,” Louisiana state Treasurer John M. Schroder wrote in an October 2022 letter to BlackRock CEO Larry Fink. “I’m convinced that ESG investing is more than bad business; it’s a threat to our founding principles: democracy, economic freedom, and individual liberty.”
Florida Chief Financial Officer Jimmy Patronis noted last year that the Sunshine State would be separating from BlackRock.
“Whether stakeholder capitalism, or ESG standards, are being pushed by BlackRock for ideological reasons, or to develop social credit ratings, the effect is to avoid dealing with the messiness of democracy,” Patronis said, according to a December press release. “I think it’s undemocratic of major asset managers to use their power to influence societal outcomes. If Larry, or his friends on Wall Street, want to change the world – run for office. Start a non-profit. Donate to the causes you care about.”
Musk, who purchased Twitter last year, has reinstated many accounts that had previously been banned by the platform.
Musk encouraged “independent-minded voters” to support GOP congressional candidates during the 2022 midterms. “To independent-minded voters: Shared power curbs the worst excesses of both parties, therefore I recommend voting for a Republican Congress, given that the Presidency is Democratic,” he tweeted.
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