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Paul Tudor Jones Says Companies Can No Longer Exist Just To Maximize Profits
Longtime hedge fund manager Paul Tudor Jones on Wednesday critiqued the long-held belief that companies should exist for the sole purpose of generating profits. Jones, whose remarks came during a JUST Capital event with CNBC’s Andrew Ross Sorkin, said it’s that philosophy that allows corporate boards to neglect issues of equity in the workplace and ultimately undermine the stability of broader U.S. society. “When you just look and say that the only thing that a company has to worry about is making a profit, it gives that company a pass not to pay attention to pay equity, not pay attention gender equity, not to pay attention to racial equality. Not to…