Investment guru Marc Faber has been dropped as a guest speaker for a wealth conference in Singapore in a response to his recent racist remarks. The conference organizers overturned an earlier decision.
The organizers of World Wealth Creation last week had decided to retain Marc Faber as a speaker, in spite of his racist remarks. Mikk Talpsepp, the founder of the event, said that this was in recognition of his life work, experience and knowledge. Talpsepp, a hedge fund manager, overruled colleagues who argued in favor of kicking Faber out.
On Friday, Talpsepp however reversed his decision: «To make clear our position, we decided to remove Marc Faber as a speaker,» the event's founder said, adding that the move expresses «the values of our conference». He also said that the event will add a clause to its contracts to make it easier to remove speakers who make inappropriate or racist remarks.
Media Outlet Bans
The backlash against Faber's comments was swift, finews.asia reported last week: financial broadcasters said they would no longer book Faber as a guest. Alternative asset manager Sprott demanded – and received – Faber's resignation, and Canadian NovaGold Resources and Ivanhoe Mines said he would also leave their boards. Liechtenstein's Loewenfonds, which Faber advises, will be looking at its options.
Business television networks such as CNBC and Fox Business said they would remove Faber from booking lists for their shows.
