College Students Say Talk with Goldman CEO Solomon had ‘Sexist and Racist Undertones’

An open letter from three anonymous students at Hamilton College claimed David Solomon, the CEO of Goldman Sachs and chair of the school’s board of trustees, treated them with “blatant ignorance and disrespect.”

The students, who didn't sign the letter, claim they approached Solomon at a networking event in March to discuss the institution's fossil fuel divestment. The group, self-described as mostly non-male and people of color, allegedly brought up issues like climate justice. They were not pleased with Solomon’s response.

“Throughout the discussion, Solomon’s attitude and behavior toward us and our questions carried extremely racist and sexist undertones,” the students wrote in the letter, which was reported earlier by Bloomberg news.

The students claim the CEO used a “patronizing” and “disrespectful” tone throughout their conversation. At one point, the students said Solomon assumed they were on financial aid.

“We believe that he never would have assumed we were all on financial aid if we were the group of white male students in suits talking to him twenty minutes prior," they wrote.

Goldman spokesman Tony Fratto disputed the student's characterization of the talk.

“David Solomon has enormous respect for the students at Hamilton College. He did not and would not say things to offend them,” Fratto said in a statement provided to The Messenger. 

The students said Solomon, who graduated from the school in 1984, told them that curbing the use of fossil fuels was “a stupid movement" and that they were “hypocritical” for advocating for divestment since they use electricity and drive cars.

“At one point, he laughed and told us he’d be dead in thirty years, so climate change would be our problem anyway,” stated the letter. 

Fossil fuel divestment requires stockholders to move their money out of stocks, bonds or funds in oil, coal and gas companies. The global movement, starting in 2011, has gained traction over the last decade as over 1,500 major investors committed to divest $40.5 trillion as of 2021, according to a tracker. The strategy, aimed at choking up capital in the fossil fuel industry, has come under scrutiny but remains a major strategy pursued by climate change advocates.

Hamilton College’s endowment currently holds less than 2% direct exposure to fossil fuels with more exposure from legacy private investments, according to its website. 

“Solomon’s views on divestment reflect this institutional stubbornness to understand the College as a necessary leader of reasonable climate action and mitigation amidst such a dire crisis,” read the students’ letter.

“His willful ignorance continued, with seemingly no intention to actually learn or genuinely engage with us beyond belittling us.”

The criticism from the Hamilton College students is just the latest for Solomon. The CEO has come under growing scrutiny within Goldman itself, gaining a slew of negative press with rumors of his potential replacement.