Tech Leaders Rally Behind Trump After Victory
Top executives from the technology sector enthusiastically congratulate President-elect Donald Trump and express readiness to collaborate with his administration.
Tech Titans Show Support: On Wednesday, Tesla Inc. TSLA, SpaceX, and Neuralink CEO Elon Musk, known for his support during the campaign, was among the first to congratulate Trump.
Earlier, Trump had mentioned potential plans to create a role for Musk focused on a “department of government efficiency” aimed at streamlining the federal workforce.
The response from investors was notable; following Trump’s victory announcement, Tesla shares jumped over 14%, driven by expectations that his presidency could favor the company.
Major figures from other tech giants, such as Amazon.com, Inc. AMZN founder Jeff Bezos, Apple Inc. AAPL CEO Tim Cook, Alphabet Inc. GOOGGOOGL head Sundar Pichai, and Meta Platforms, Inc. META CEO Mark Zuckerberg, also expressed their congratulations to Trump.
Bezos referred to Trump’s victory as an “extraordinary political comeback and decisive victory.” Prior to the elections, Bezos and The Washington Post faced criticism for not endorsing a candidate for the first time in decades. In an opinion piece, he explained that this choice was driven by worries of “perception of bias.”
Welcoming New Opportunities: Both Apple’s Tim Cook and Google’s Sundar Pichai also extended their congratulations, eager to collaborate with the new administration.
CEOs from OpenAI, Sam Altman, and Microsoft Corporation MSFT, Satya Nadella, also voiced their congratulations on social media. Altman emphasized the importance of the U.S. sustaining its leadership in artificial intelligence while adhering to democratic values.
Zuckerberg also weighed in on Threads, acknowledging Trump’s “decisive victory” and sharing optimism for future collaborations.
In a conversation post-election, Trump claimed Zuckerberg assured him that he would not support a Democrat in the upcoming election. However, this statement was denied by a Meta spokesperson, who clarified that Zuckerberg has not endorsed either Trump or Kamala Harris.
Other leaders, including Intel Corp. INTC CEO Pat Gelsinger, IBM IBM CEO Arvind Krishna, Cisco Systems CSCO CEO Chuck Robbins, Uber Technologies UBER CEO Dara Khosrowshahi, and Box Inc. BOX CEO Aaron Levie, also extended their congratulations to Trump.
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Industry Voices on Collaboration and Concerns
Cisco’s CEO, Chuck Robbins, expressed optimism about working with the Trump Administration and Congress to promote better connectivity, innovation, and cybersecurity. “Cisco looks forward to advancing policies that bolster connectivity, innovation, cybersecurity, and more,” Robbins shared on Twitter.
Similarly, Dara Khosrowshahi, the CEO of Uber, congratulated President-elect Trump, stating, “We stand ready to work with you and your administration on ways to improve transportation, empower small businesses, and raise the bar for flexible work.”
CEO Aaron Levie from Box also chimed in, reflecting on Trump’s election victory. He noted, “What’s great about America is that we’re on a rocket ship right now and can keep accelerating with the right policies and execution.”
A Call for Unity Amidst Celebration
In contrast, Reid Hoffman, co-founder of LinkedIn, who supported Vice President Harris, acknowledged Trump’s victory while urging unity among Americans. He expressed concerns about Trump’s past conduct, stating, “I—and many others—raised alarms about the anti-democratic actions Donald Trump took during his first Presidency.” Hoffman added that he has been reassured by Trump’s supporters that such behavior would not be repeated.
Hoffman also emphasized the importance of a peaceful transition, remarking, “It is clear that he has again won the presidency in a country where we enjoy relatively unfettered rights to vote, speak out, and steer our futures.”
Potential Impacts on the Tech Industry
The implications of Trump’s victory for the technology sector remain a point of concern. Investors worry that his administration may impose higher tariffs, straining U.S.-China relations and impacting the tech supply chain. Companies such as Nvidia Corporation NVDA, Apple, and Tesla could face retaliation from China, while analysts fear that the expected policies may slow advancements in artificial intelligence.
While a Republican-led government could boost stock market performance, analysts warn that it may not be as favorable for Big Tech. Trump’s presidency could also adversely affect the electric vehicle market due to possible loss of tax incentives. However, Tesla’s established market presence might offer it a competitive advantage over Chinese companies like BYD and Nio.
Changing Strategies Among Tech Leaders
During Trump’s first term, many tech leaders openly criticized his administration, with several resigning from advisory councils. These actions had tangible consequences, as exemplified by Amazon’s assertion that it lost a $10 billion Pentagon contract due to perceived personal animosity from Trump towards CEO Jeff Bezos.
This time, however, the atmosphere appears different. Some former critics, like Facebook’s Mark Zuckerberg, who faced threats from Trump, have begun to align more closely with the President-elect. Additionally, Bezos and others have opted for silence regarding their discontent, signifying a shift in strategy.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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