Originally posted on January 25, 2024
New York State Comptroller Thomas P. DiNapoli is filing shareholder proposals at six portfolio companies requesting information on their political spending.
DiNapoli cited his duties as trustee of the New York State Common Retirement in filing the disclosure proposals with Airbnb Inc., DoorDash Inc., Caesars Entertainment Inc., SoFi Technologies Inc., Charter Communications Inc., and DraftKings Inc. DiNapoli is aksing the companies to report their policies and procedures regarding candidates for public office and how they might influence the general public on an election or referendum.
He is also seeking information on contributions and expenditures made, the identity of the recipients of their support, and an understanding on how corporate political spending decisions are being made.
“Investors need and deserve full transparency and accountability on the use of corporate dollars to further political agendas so they can determine whether the spending supports a company’s business strategy or puts it at risk,” DiNapoli said. “Amid a deeply divided political climate, corporations should assess whether spending on any political causes is in shareholders’ interests. At a minimum, companies should openly disclose where their political dollars are being spent.”
