Silicon Valley tech leaders shift support to Trump amid election buzz
A growing number of investors and CEOs of technology companies from Silicon Valley, following in Elon Musk's footsteps, are beginning to support Donald Trump and fund his election campaign openly. According to the "Financial Times," their decisions are primarily driven by the hope for tax cuts and the possibility of gaining influence in a potential Trump administration.
Jul 21, 2024 | updated: 1:27 PM EDT, July 21, 2024
In a conversation with Bloomberg, Donald Trump spoke about the growing support from leaders of the largest companies on the Fortune 100 list. He said how they all called and wanted to support him.
He also added that the person leading the election race always gains the support they deserve. He emphasized that he could have the personality of a shrimp, and everybody would come to him.
Reversal in Silicon Valley
Although most moguls from Silicon Valley still support the Democrats, an increasing number declare their support for Trump. This trend has accelerated after the attack on the former president.
Elon Musk, just half an hour after the attempt to shoot Trump, wrote on X: "I fully endorse President Trump and hope for his rapid recovery."
Counting on influence
The "Financial Times" notes that the heads of tech giants hope that a potential Trump administration will not challenge their monopolistic positions. They hope there will be no tax increases, and the government will stop dragging companies like Meta, Google, or Apple to court as part of competition protection policies.
However, the simplest explanation for this new trend is the growing belief that Trump will win the presidential election. Therefore, as the "FT" emphasizes, it is worth gaining influence in his circle now.
