Oatly Hit for Backing from Trump Contributor

Sept. 9, 2020
A brand of oat milk is facing backlash after taking money from a private equity firm headed by a prominent contributor to President Trump.

A brand of oat milk based in Sweden is facing backlash after taking money from a private equity firm headed by a prominent contributor to President Trump.

Oatly received $200 million in funding this summer from a group headed by private equity firm Blackstone. Others in the group include Oprah Winfrey, actress Natalie Portman and former Starbucks CEO (and one-time presidential candidate) Howard Schultz.

However, Blackstone has drawn the ire of political activists because its chief, Stephen Schwarzman, gave $3 million to a Trump-supporting PAC. In addition, Blackstone has been linked to companies that allegedly support destruction of the Amazon rainforest. Blackstone denies the latter claim, stating that the Brazilian company it invested in “does not own, control or have any interest — direct or indirect — in the road in question.”

Oat milk has become a hot product during the pandemic, with sales increasing 470%.

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