Goldman Sachs CEO David Solomon sparks anger from activists after calling ‘the fossil fuel divestment movement’ ‘stupid’ – whereas Hamilton College college students accuse him of expressing ‘racially charged sentiment’ throughout talks

David Solomon, CEO of Goldman Sachs, has sparked anger from faculty college students after he allegedly known as fossil gas divestment “stupid.”

In an explosive letter written by three seniors at his alma mater – Hamilton College in upstate New York – the 61-year-old multimillionaire can be accused of expressing “extremely racist and sexist undertones” in the direction of the trio.

Their interplay happened at a March 3 occasion known as Senior Networking with Trustees on the personal liberal arts faculty.

In the letter revealed later this yr, the unnamed authors describe themselves as “students involved in climate justice and campus sustainability efforts” who took the “rare opportunity” to query Solomon about their college’s inexperienced credentials.

They mentioned Solomon, who graduated in 1984 and is chairman of the trustees, “claimed he is doing more in a week to help climate change than we will ever do in a lifetime,” pointing to his “capital accumulation” and “energy ‘. ‘.

He even laughed and told us he would be dead in 30 years, so climate change would be our problem anyway,” the students said.

During their fiery exchange, Solomon is also said to have assumed that the group of about six students – described in the letter as “all non-male” and predominantly “people of color” – would receive financial support and should “show immense gratitude” for doing so. .

Goldman Sachs spokesman Tony Fratto has hit back at the claims, saying Solomon has “huge respect” for the students of Hamilton College and “wouldn’t say issues to offend them.”

The college students mentioned they started by asking New York native Solomon about Hamilton College’s declare that “less than 2 percent” of his endowment comes from donors with direct ties to fossil fuels.

“We assumed that Solomon would probably close us, but he seemed excited about the question and even brought up the term divestment himself,” they mentioned.

‘However, he quickly gave the impression that he thought this was a good time to pass on his insights to us.

‘The conversation quickly turned into almost 30 minutes of talking about climate change and the role of the college in climate adaptation and mitigation.

During the conversation, Solomon’s perspective and conduct in the direction of us and our questions had a particularly racist and sexist undertone.

“We feel obligated to share his blatant ignorance and disrespect with the campus community.”

Solomon mentioned he was unaware of the college’s 2 % funding declare, and “indicated that he thought fossil fuel divestment was a stupid move,” the scholars mentioned.

“He called us hypocrites for advocating divestment while still using electricity and driving cars – and said if we traveled to countries like China, India and Cambodia we would see how the world ‘really works’ and then see if we want to live like this,” the letter reads.

He usually contradicted himself and mentioned with the identical loaded tone: the ‘West’ is the middle of expertise and innovation, and it’s our duty to contain the ‘East’ in a local weather transition, however he additionally mentioned that it’s not the duty of the Board to take part on this transition.’

The college students mentioned Solomon, who was lately accused of bullying Goldman employees, continued his diatribe of ‘deliberate ignorance’ with “seemingly no intention of really learning from us or really interacting with us, other than belittling us.”

They mentioned his “most obviously racist sentiment” got here after they defined their perception that by “financially fueling the climate crisis through our endowment,” Hamilton College was jeopardizing their “mission” to pursue “climate justice.” .

‘He pointed to all of us and claimed that we should all receive financial aid,” the letter reads.

“He suggested that we should show immense gratitude because we are indebted to the university and not complain about the investment portfolio.”

The students said Solomon quickly backtracked in response to their shocked expressions at this latest comment – telling them that “about 80% of Hamilton students receive financial aid in some way.”

“It’s necessary to notice that the group of about six individuals who spoke to him have been all non-male, and at the very least half have been folks of colour,” they mentioned.

“We don’t think he would have assumed we all had financial support if we were the group of white male students in suits who were talking to him 20 minutes earlier.”

“Solomon spoke condescendingly and disrespectfully to us,” they added.

“Despite knowing nothing about us and our role in our communities and history of activist work, Solomon claimed he is doing more in a week to help climate change than we ever will in a lifetime.

“When we asked him for an explanation, he attributed his ‘capital accumulation’ and position of power.”

The college students mentioned they felt “embarrassed, embarrassed and scared” that Solomon would proceed to be the “face and voice of Hamilton College” by means of his place as president of the board, which runs till 2024.

They known as for an early termination of his time period, saying: ‘Solomon’s opinions are usually not simply phrases – his emotions have actual weight and energy.

“His words do so much damage to the members of our campus community who are advocating for and most affected by climate change.”

About 2,000 college students attend Hamilton College in Clinton, New York.

The faculty is thought for its ‘woke’, super-liberal repute, beforehand making headlines for scholar campaigns like ‘The Movement’ – a gaggle the college says demanded radical adjustments on the faculty in 2017 Daily beast.

These adjustments embrace “the immediate institution of free education for all indigenous peoples” and an “immediate increase in undocumented students,” full with scholarship packages.

Meanwhile, Solomon has been coping with quite a lot of warmth in his position because the chief of one in all America’s most prestigious banking corporations.

Goldman Sachs bankers have accused him of speaking solely by “yelling” at employees as he “stamps” across the workplace and of being a “bully,” in response to NY Mag.

In an announcement to Business InsiderGoldman Sachs spokesman Tony Fratto disputed the Hamilton College college students’ allegations.

“David Solomon has tremendous respect for the students of Hamilton College,” he mentioned.

“He didn’t say and wouldn’t say issues to offend them. We strongly dispute the claims he made.’

DailyMail.com has contacted Hamilton College for remark.