Billionaire investors demand it.

Diversity, equity, and inclusion (DEI) is one part of a company's environmental, social, and governance (ESG) scores. Many billionaire (often institutional) investors require companies they invest in to have a good ESG score to receive their money.

As a result, companies invest time and money into things like DEI or greenwashing in order to meet the expectations of ESG investors.

This is part of why some right-Wingwing governments are making noises about making ESG investment illegal within their jurisdictions.