Tech Leaders Are Backing Trump’s 2024 Bid
Silicon Valley is known for its liberal leanings, but some tech executives are bucking the trend and throwing their weight behind Donald Trump’s 2024 presidential campaign.
Big Money From Tech
The Winklevoss twins, co-founders of the cryptocurrency exchange Gemini, have donated a combined $500,000 to America PAC, a super PAC supporting Trump. They also previously donated $1 million each directly to Trump’s campaign, although some of that was later refunded.
Other tech leaders making big bets on Trump include:
- Joe Lonsdale, co-founder of Palantir, who donated $1 million.
- Douglas Leone, former managing director of Sequoia Capital.
- Troy Link, CEO of Jack Link’s Beef Jerky.
Elon Musk’s Support?
Elon Musk, CEO of Tesla and SpaceX, has publicly endorsed Trump, but denied a report that he would donate $45 million per month to America PAC.
Why the Shift?
The tech industry’s shift towards supporting Trump could be due to several factors, including:
- President Biden’s policies on corporate taxes and regulations.
- Trump’s alleged promises to cut corporate taxes and approve oil permits.
Trump’s Crypto-Friendly VP Pick
Trump’s selection of Senator J.D. Vance as his vice presidential pick could further appeal to the tech and crypto sectors. Vance, a former venture capitalist, has investments in tech and crypto companies and is seen as crypto-friendly. He reportedly owns between $100,000 and $250,000 in Bitcoin.
Trump’s Chances of Winning?
Trump’s chances of winning the 2024 presidential election have risen to 72% on the decentralized prediction market platform Polymarket. In contrast, President Joe Biden’s odds stand at just 17%.
The tech industry’s support for Trump could have a significant impact on the upcoming election. It remains to be seen how this shift in political alliances will play out in the months ahead.
