August 5, 2024 — San Francisco, CA — Shannon Coulter, president of Grab Your Wallet Alliance and best known for leading an anti-Trump boycott credited with getting Nordstrom and other companies to drop Trump brand products, today called out corporate overreach in the presidential election, particularly the activities of LinkedIn cofounder and major Democratic donor Reid Hoffman.
“My organization has always taken the position that big business has far too active a role in American politics,” said Grab Your Wallet President Shannon Coulter. “I’d be a hypocrite if I criticized this phenomenon only on the right.”
Coulter strongly encouraged Reid Hoffman and other big Democratic donors to step back and refrain from trying to impose their agendas on the 2024 presidential candidates.
Coulter’s announcement comes on the heels of her decision to dump billionaire and Reid Hoffman as a funder of her nonprofit over his urging of Vice President Kamala Harris to fire FTC Chair Lina Khan.
"The optics of guys like Reid Hoffman calling for a young woman of color to be fired are not great," said Coulter. "What Lina Khan is doing right now is actually very good for the economy because it allows competition to thrive and prices to come down," she added.
Lina Khan is the youngest person in history to chair the FTC. She was appointed by President Joe Biden and received bipartisan confirmation by the U.S. Congress. CNN's Jake Tapper recently asked Hoffman to defend his decision to call for Harris to fire Khan.
Reid Hoffman recently donated $7 million to the leading pro-Biden and Harris super PAC in addition to having donated $3 million in June 2024, prior to the debate. Before his calls for Harris to fire Khan, Hoffman also publicly called for President Joe Biden to resign. As reported by The American Prospect, he recently attended a Zoom call with two top ranking members of Harris’s campaign’s staff, policy director Grace Landrieu and campaign deputy chief of staff Sergio Gonzalez,
Photo credit: Jason Henry
About Grab Your Wallet Alliance
Grab Your Wallet is a community of people flexing our power to promote a more just and democratic society. We encourage corporations and other institutions to evolve in more equitable, transparent, and democratic directions. We also shine a light on unethical institutional practices and amplify underrepresented voices. Our aim is to hold powerful corporations and other institutions accountable and to promote shifts that expand opportunities for structurally marginalized groups. Grab Your Wallet Alliance is a 501(c)4 nonprofit organization. https://grabyourwallet.org/