All Tech CEOs Are Supporting Trump

Highlights

Elon Musk publicly declared support for Donald Trump on X.
Musk and other tech executives also donate to Super PACs supporting Trump.
Crypto enthusiasts and founders have also shared similar sentiments.

Elon Musk and other tech CEOs have leaned toward former President Donald Trump in the upcoming U.S. Presidential election. The November polls have seen top tech and finance leaders donate and back respective campaigns. Several crypto and traditional financial markets executives have also backed the former U.S. President for a second term.

Elon Musk Backs Trump

In recent months, Donald Trump has received support from a wide range of business and technology executives as he goes head-to-head with President Joe Biden in the forthcoming elections. The Republican candidate has also seen his influence grow in the cryptocurrency space as execs and users reign in support in anticipation of pro-industry regulations.

Notably, Tesla CEO Elon Musk has backed Donald Trump following a series of speculations. The CEO wrote on X (formerly Twitter) that he fully endorses the former President and wishes him a speedy recovery. This comes after an attack on Donald Trump during a recent rally in Pennsylvania. Musk has also clarified “fake news” by mainstream media on the former President calling for true reporting on the social media platform.

I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF

— Elon Musk (@elonmusk) July 13, 2024

Previously, the Tesla CEO reinstated Trump’s account on X after a poll that saw a majority of users voting in favor of the move following his previous suspension on most social media platforms. Trump has also supported Elon Musk publicly in the past describing him as a genius likening him to Thomas Edison.

“… well you have to give him credit for that, I spoke to him very recently and he is also doing the rockets thing… he’s one of our great geniuses and we have to protect our geniuses. We have to protect Thomas Edison.”

Both Musk and Trump share similar views in terms of free speech both constantly firing shots at the mainstream media and fake news. Musk subsequently purchased Twitter stressing the need to attain free speech. However, both men differ in ideals. While Trump is not pro-climate change, Elon Musk differs in manufacturing electric vehicles to reduce carbon emissions.

Musk Donates And Other Tech CEOs Donate to Super PACs

Elon Musk and several other business executives have donated to Donald Trump’s campaign for several reasons. According to the Wall Street Journal, Musk will donate $45 million a month to a Super PAC backing Trump for a second term. Other donors include Jeo Lonsdale, the co-founder of 8VC, Kelly Craft, and the Winklevoss twins. Trump is also backed by billionaires Bill Ackman, David Sacks, Timothy Mellon, Jamie Dimon, Shaun Maguire, etc.

Sacks lauded the Republican candidate for his choice of VP, Sen JD Vance, describing him as an American patriot.

“When the Twin Towers came down, JD Vance enlisted in the Marine Corps, gung-ho to exact justice on America’s enemies. Subsequently, he came to believe the Forever Wars were a mistake. This is who I want by Trump’s side: an American patriot, with the courage to fight America’s wars but the wisdom to know when to avoid them. God bless JD, God bless Trump, and God bless the USA.”

Crypto Enthusiasts Follow Suit

Digital asset users have expressed optimism for a Trump Presidency to usher in pro-crypto regulations to stabilize the market. Recently, the former President has leaned towards the market igniting interest from participants. The last couple of years have seen the Securities and Exchange Commission (SEC) file lawsuits against industry executives and crypto firms.

This has led to a slowdown of development in the market and migration of talent to other jurisdictions. Although regulatory efforts have been made in Congress this year, stakeholders say that the current level of adoption should usher in more progress. Bitcoin prices hit an all-time high after the approval of spot ETFs in the United States. Crypto execs have also donated to Super PACs pushing for pro-industry regulations.

Also Read: Billionaire Mark Cuban Predicts BTC a Safe Haven Under Trump

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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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