The Latest From Goldman Sachs, Coca Cola, Berkshire Hathaway, And More [May 2025]

DEI Under Fire is our monthly series that keeps you up-to-date on the latest DEI announcements and changes from the nation's leading companies.

This month, we discovered that more companies are rejecting the anti-DEI wave. Bristol Myers Squibb stood firm on their DEI efforts, highlighting the importance of an inclusive workforce. Berkshire Hathaway also backed its DEI initiatives as shareholders rejected an anti-DEI proposal. Goldman Sachs, however, removed references associated with DEI on its website.

Here are some of the latest changes we think you should know about. Remember to revisit this page throughout May for updates.

Companies are listed in alphabetical order.

Berkshire Hathaway

Before its May meeting, Berkshire Hathaway planned to reject a proposal from the NCPPR, which asked the company to perform a legal audit of its race-based initiatives. Fortune reported that the proposal stated that Berkshire Hathaway’s DEI efforts could lead to potential lawsuits.

The company could not block the proposal from being discussed at the meeting. Still, it said in a proxy statement that a legal audit was not necessary and that its policies allow managers to enact programs they see as appropriate for their businesses while complying with the law. Consequently, shareholders rejected the anti-DEI proposal.

Bristol Myers Squibb

After receiving a proposal from the National Center for Public Policy Research (NCPPR), the multinational conglomerate defended its DEI efforts, urging Bristol Myers Squibb to “cease DEI efforts.” The company called the practices discriminatory and suggested that they put the company at risk of discrimination lawsuits, as stated by Fortune.

“We value inclusion and prioritize building an inclusive workforce in compliance with applicable non-discrimination laws, as do our shareholders,” it wrote in its proxy statement, as stated by Fortune. “We believe our inclusion philosophy leads to greater financial and patient outcomes and generates shareholder value, because it helps drive our strategic goal to reach more patients with our transformative medicines,” it added.

Coca-Cola

In 2024, the conservative activist group National Legal and Policy Center (NLPC) submitted a proposal asking the company to review and examine its executive pay and DEI hiring goals. In a letter filed to the SEC, the beverage company stated that it wanted its workforce diversity to be aligned with US census data, according to Fortune.

The proposal was rejected in 2025 as only 1.10% of shareholders supported the NLPC’s proposal, stating that the NLPC proposal essentially asked the company to do something it was continuously doing.

Goldman Sachs

Four years ago, Goldman launched its “One Million Black Women” program, a multibillion-dollar commitment to invest in Black women. The bank recently removed references to “Black” from the program’s home page, without changing its name, according to the Wall Street Journal.

Additionally, an educational program for Black businesswomen also axed references to race. Now Goldman’s site says its “Black in Business” program helps entrepreneurs “stay in the black,” a reference to being successful.

Levi’s

Levi’s shareholders voted against a proposal to end its DEI efforts. The National Center for Public Policy Research, a conservative think tank, submitted a proposal to shareholders urging the company to “consider abolishing its DEI program, policies, department, and goals.”

A company spokesman shared that less than 1% of shareholders voted in favor of the proposal. “We believe in the strong business case for a diverse and inclusive workforce,” they said.

Image: Nappystock