Organizers report a $300,000 funding shortfall due to corporations withdrawing support.
San Francisco’s upcoming LGBTQ Pride event is facing financial challenges as several prominent sponsors have withdrawn their support, according to multiple news reports. This comes as the Trump administration pushes for cuts to federal DEI program funding.
Forbes reported on Friday that companies like Comcast, Diageo (owner of Guinness and Smirnoff), and Anheuser-Busch (owner of Budweiser and Stella Artois) have pulled funding from the event.
San Francisco Pride’s executive director, Suzanne Ford, told SFGATE that this year’s two-day event, including a parade, is budgeted at $3.2 million, with corporate sponsorships expected to cover $2.3 million.
Ford told KTVU Fox last week that five sponsors cited financial constraints for their withdrawal, resulting in a $300,000 loss in corporate funding.
“I’m very concerned. Obviously, there’s pressure from the federal government,” she stated. Ford believes Trump’s anti-DEI stance has influenced the sponsors’ decisions.
Forbes also notes that Pride events in other cities like New York, Houston, and Washington have seen corporate sponsors reduce or eliminate their support.
Houston Pride’s board of directors told Forbes that “The current political and economic climate has had a significant impact on sponsorship levels from corporations.”
Since taking office in January, Trump has cut various DEI-related programs, contracts, and grants, arguing they are wasteful and discriminatory.
Following consumer boycotts, some companies seemed to reduce their public LGBTQ support last year. Anheuser-Busch, for example, faced boycotts and declining sales in 2023 after its Bud Light campaign with trans influencer Dylan Mulvaney sparked widespread controversy.