Fabrice Houdart | A weekly newsletter on LGBTQ+ Equality
This week: some good news in Namibia and at Gilead, Amb. Pressman’s Pride message, the French Republic trembles, a regime change in the UK, a Silicon Valley dinner, LGBTQ+ Pride at NYSE and much more…
Welcome to the 196th issue of our newsletter! You made it to the last week of Pride month unscathed, and that’s a miracle in itself. This week has exciting updates in Namibia and on the HIV prevention front, significant milestones in France and the UK coming up, and controversies in Australia and Hungary. Feel free to share your thoughts and feedback. Let’s dive in!
This week: some good news in Namibia and at Gilead, Amb. Pressman’s Pride message, the French Republic trembles, a regime change in the UK, a Silicon Valley dinner, LGBTQ+ Pride at NYSE and much more…
Global News 🌍
Namibia: a Historic Win for Equality!
Let’s start with the good news. Parts of Africa are progressing in LGBTQ+ acceptance, as seen with the Namibian Supreme Court's landmark ruling that struck down criminalization this week. This decision aligns with other progressive judgments across Africa, signaling a wave of change beyond the political coups in Ghana and Uganda. Our friend, Adrian Jjuuko from Uganda, optimistically remarked, "We shall get these laws down one by one—one judge at a time, one country at a time! I will see this in my lifetime in my own country." Read the concise and on-point judgment and its analysis more on the BBC, and if you are a “premium gay,” why don’t you shake things up and switch Aspen for the Etosha National Park?
HIV: Gilead’s Lenacapavir Shows 100% Efficacy in Prevention
More good news: Gilead’s Phase 3 trial results for lenacapavir, a twice-yearly injectable HIV-1 capsid inhibitor, demonstrated 100% efficacy in HIV prevention among cisgender women. I know, I know, I usually b*tch about Gilead, so allow me to take a break. This groundbreaking development could revolutionize HIV prevention strategies, as Prep has proved challenging to adhere to for at-risk populations. Read more in the New York Times.
None of the 2,134 women in the arm of the trial who received lenacapavir contracted H.I.V.
World: 2021–2022 Global Resources Report
The new GPP was unveiled this week, showing a 57% increase in global LGBTI funding, reaching $905 million. Despite this growth, funding remains unevenly distributed, with 60 countries experiencing a decrease. Depressingly, just three anti-LGBTI organizations have a combined income exceeding $1 billion, highlighting the significant challenges ahead. I watched the webinar yesterday featuring the amazing Matty Hart, and you can, too. If there is maybe one takeaway, it is that our strategy to put this issue on donors’ radar screen is working; in fact, MacKenzie Scott can take credit for a lot of the increase.
Australia: self-identification, a white gay boomer rebellion?
The debate over ASX’s Board Diversity disclosure has just taken a bizarre turn in which those who championed self-identification for rank-and-file employees have created an unholy alliance with the likes of Jay Blum in opposing voluntary non-nominative disclosures in D&O questionnaires. Their argument? It “invades the privacy of Directors.” See more about it here. WTF? So, let me get this right: the opportunity to self-identify is good for the masses, but beneath you? Is that it? Anyway, this is akin to opposing reproductive rights because it would “force women to have an abortion.” In the meantime, NASDAQ, which requires Board Diversity Disclosures, is hosting its Pride event on Monday, and many high-power gays are celebrating the move. Go figure. It raises the question of whether some gay men who “made it” are tempted to shut the door behind them; it’s called Queen Bee Syndrome.
I also think we’re starting to encroach on privacy and people’s individual lives.
Hungary: The Relentless US Ambassador
If you want to feel a little Pride chill going through your spine, read Ambassador Pressman’s remark this week at his Embassy’s Pride, or even better, watch this segment in which he emphasized that attacks on LGBTQ people and democracy are interconnected. The gay Ambassador also marched in the Budapest Pride parade. Pressman referenced a joint statement from 35 countries expressing concern about Hungary's targeting of LGBTQ+ people, calling for an end to discriminatory laws and practices.
Their currency may be fear, but ours is love. In the end, freedom and love will defeat division and fear.
France: The Republic trembles
It’s a weird campaign: you want it to be over, but not really, as the outcome, which is starting to emerge, is terrifying. This week, Paul B. Preciado argues that the concept of "transsexuality" has become a central focus in conservative discourse because it challenges traditional notions of identity and the nation-state. He criticizes President Macron for perpetuating fear of transgender people, using them as a political tool during the commemoration of the 84th anniversary of the Appel du 18 Juin. Preciado highlights the precarious social, political, and economic existence of real trans individuals, contrasting it with the fantastical threat depicted by populist rhetoric.
Monsieur le Président, la démocratie est et sera trans
France (too): the violence of capitalism is an LGBTQ+ problem
I was reading the recent statistics on the French European vote, and a few insights struck me. The notion that youth will be our saviors is under scrutiny; young voters (18-24) show strong support for La France Insoumise (30%) and the National Rally (27%), indicating a potential shift towards more extreme views. In contrast, older voters (65+) favor the presidential majority (24%) and the Socialist Party (20%). Additionally, the impact of capitalism's violence is evident as manual workers and those with lower education levels predominantly support the National Rally, with 58% and 46%, respectively, compared to only 25% among higher professional categories. This data underscores the urgent need to address economic inequalities and their influence on political leanings.
Great Britain: are you ready for the fireworks?
Order in and sit down on July 4th for the first post-Brexit election next week. What does that have to do with LGBTQ+ issues, you might ask? Well, Official development assistance cuts, a man-made trans hysteria, Rwanda … it’s big. Britain is back with a vengeance🇬🇧
Also, please keep your eyes on the Kenya protests where trigger-happy police have been shooting young demonstrators.
US News 🏳️🌈
Gaza Conflict and the LGBTQ+ Community
Unfortunately, the Israel-Gaza war is fought in Washington, so it’s not unreasonable for this debate to take place there. The Gaza war has deeply divided the LGBTQ+ community, with heated debates playing out in protests, social media, and even local conflicts like those in Fire Island Pines, which strangely brought together Ritchie Torres and Michael Lucas, which could turn into a commercial venture would Torres ever decided to leave Congress. While some argue for solidarity with Palestinians, others emphasize Israel's comparatively tolerant stance towards LGBTQ+ individuals. Read the article here.
SCOTUS to Rule on States Prohibiting Hormones for Transgender Teens
The U.S. Supreme Court will soon decide whether states can ban hormone treatments for transgender teens, a pivotal case that could shape the future of gender identity rights. This case, brought forth at the request of the Biden Administration and supported by Lambda Legal and the ACLU, is being closely watched by advocates and legal experts alike. It raises critical questions about the constitutionality of gender identity discrimination. Legal experts express mixed feelings, highlighting the case's potential to redefine protections under the law. For more details, read this.
Florida: Ground Zero for the Resistance
Equality Florida has launched "Frontline Florida," a powerful video highlighting the fight against extremist agendas in the state. Share and support this crucial message of resistance and solidarity.
Queering the Boardroom 💼
An inspiring dinner in Silicon Valley this past Thursday
Thank you to those who attended NACD Northern California's private dinner for LGBTQ+ directors and allies, focusing on "Addressing Critical Issues in Healthcare and Life Sciences" at the Rosewood in Silicon Valley. The event featured insightful discussions and contributions from esteemed professionals in the field. Thanks to Jacob Hanna and Mika Mayer from Cooley, Joe Benfatti, Clara Fong, and Ashwani Verma from RSM US for hosting it. See pictures here.
Last night: Marty Chavez in NYC
Last night, at JPMorgan in NYC, Marty Chavez regaled a selected group of Board leaders with his life story at an event hosted jointly by the Association and JPM Private Banking. By the way, the art collection there is truly unique.
Pride at the NYSE
This week, the New York Stock Exchange hosted its inaugural Pride event, with Erick Diaz and Matan Eden leading the celebrations. The event included a very candid interview with Grindr’s CEO, George Arrison, and I moderated a conversation with two Board giants: Myrna Soto and James Cole Jr.
Top 75 LGBTQ+ Board Members Recognized
In partnership with BoardProspects, the Association of LGBTQ+ Corporate Directors celebrated 75 trailblazing LGBTQ+ board members last week—this recognition highlighted the importance of queer perspectives in corporate leadership and governance. See the full list here.
Breaking Barriers: The Rise of LBTQ+ Women in the Boardroom
As we celebrate Pride Month and the second anniversary of the Association of LGBTQ+ Corporate Directors, we have partnered with the Women Business Collaborative to spotlight how LBTQ+ women’s representation in corporate America remains a critical frontier. Despite 7.4% of adult Americans identifying as LGBTQ+, only 0.8% of Fortune 500 and 1.2% of NASDAQ board seats are occupied by LGBTQ+ individuals, with LBTQ+ women's presence even lower. Inspirational figures like Beth Ford, Myrna Soto, and Heather Hiles highlight the immense value LBTQ+ women bring to boardrooms. It's time to bridge the gap through visibility, networking, and allyship. Read more about this critical issue and our efforts to drive change in my latest article on WBC insights: LBTQ+ Women In The Boardroom: Breaking Barriers And Building Bridges.
The Gay Business 🏳️🌈💼
How much do Gay people really travel?
The short answer is a lot. Much more than you think. I am having lunch with IGLTA President/CEO John Tanzella and his team today to discuss tourism's enormous potential for LGBTQ+ economic empowerment. The IGLTA Foundation has unveiled a groundbreaking blueprint this week titled "Caribbean Kaleidoscope: Enhancing LGBTQ+ Travel," aimed at transforming the Caribbean into a premier LGBTQ+ travel destination. This report outlines actionable strategies to foster a thriving LGBTQ+ tourism sector, from dismantling discriminatory laws to enhancing inclusive infrastructure. Tanzella emphasizes that this is more than economic opportunity; it’s about creating respectful, authentic experiences for LGBTQ+ travelers. The blueprint stems from the 5th IGLTA Foundation Think Tank, supported by industry leaders, including Google and Disney Destinations. Read more here.
Finally, an attempt at a granular LGBTQ+ investment index
On June 21st, Morningstar introduced the Developed Markets LGBTQ+ Leaders Index, targeting companies with strong LGBTQ+ inclusive policies and practices. This is a topic I have always been fascinated about because most indexes currently rely on the HRC CEI, which covers only so many companies and lacks granularity. The index employs a two-step process to identify the top 100 mid- and large-market capitalization stocks, initially screening for controversial products, compliance with the United Nations Global Compact, and severe ESG controversies. Companies are then ranked using ExecuPride’s seven-point assessment scale and by size. The initial portfolio is heavily weighted towards financial, technology, healthcare, and communications services. Morningstar Indexes and Sustainalytics President Ron Bundy emphasized the index's goal to meet market needs by enabling investors to align values or pursue investment opportunities with LGBTQ+ leading companies. Firms scoring higher on ExecuPride’s scale show direct evidence of DEI policies and LGBTQ+ advocacy at leadership levels. The index is part of Morningstar’s broader social product line, which includes indexes for gender diversity, women’s empowerment, and minority empowerment.
Prof Lee Badgett and Brian Ellner at Inc
Prof. Lee Badgett, my business partner at Koppa (see below) and famously the recipient of a Melinda Gates grant two weeks ago, was with Brian Ellner at INC last week. Read this piece by 20 LGBTQ+ Business Leaders on the importance of visibility.
The economic benefits of marriage equality
BCG has conducted new and extensive research that suggests marriage equality for same-sex couples has contributed up to $125 billion to the US economy through additional net worth and consumer spending since 2004. On average, married same-sex couples reported a median household net worth that is approximately $130,000 higher than that of their unmarried same-sex counterparts. Read more here.
Embracing Diversity in Senior Living: The Rise of LGBTQ Senior Housing
The needs of the aging LGBTQ+ community deserve more attention (I am not just saying that because I am a broke, single 46-year-old). One crucial aspect is the development of LGBTQ+-specific senior housing, which offers a supportive and understanding environment. This week, Candace Dellacona highlights best practices such as Stonewall House in Brooklyn, Triangle Square Apartments in Los Angeles, and the John C. Anderson Apartments in Philadelphia. These developments ensure that LGBTQ+ seniors receive the respect, care, and community they deserve.
From the Semi-Cultural Desk 🎭
Stonewall National Monument Visitor Center Opening
The opening of the Stonewall National Monument Visitor Center, commemorating the 55th anniversary of the Stonewall Rebellion, is getting a lot of coverage. This center will serve as an educational resource, offering tours, exhibitions, and more to honor LGBTQIA+ history and rights. I went to visit the twins on Sunday, which was meaningful. On the way, Eitan asked me if I knew anybody there during the uprising, and Mark Segal was at the door when I came in.
Visit the Met Cloisters in NYC
I know this is a bit random but I went this past Sunday with the twins for the first time and it is… life-changing.
The Gay Agenda 📅
And Sunday we March!
I am excited to march with the twins on Sunday in NYC and look forward to seeing you.
You thought you were done with Pride?
Think again! NASDAQ is hosting its Sixth Annual LGBTQ+ Leaders Conference on Monday.
Coming and Going 🚶♀️🚶♂️
In which I pull the old LinkedIn announcement trick
Despite launching Koppa in January, I only added to my profile this week that I have started a new role as Co-Founder at Koppa, the LGBTI+ Economic Power Lab. This position marks a new chapter in our journey towards greater economic inclusion and empowerment for the LGBTQ+ community.
Lawrence Yanovitch gets the légion d’honneur
Just in time before the Russian tanks roll in. Do you know what Darren Walker, Steve Clemons, and Lawrence Yanovitch have in common? They are entitled to freely send their (potential) daughters to receive a first-class education at la Légion d’Honneur. Read more here.
Well, thank you for reading. I hate to complain (I don’t; I am French), but I need to slow down, so I am thrilled that July/August is on the horizon. Among my objectives for the summer are losing 10 lbs without Ozempic, reading a lot and reflecting a little (have you seen how slim the semi cultural-desk section is? that’s bad sign), and hosting friends in my heavenly garden.
Very insightful!