Zuckerberg, Musk lead billionaire charge to Trump
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Sarah Grillo/Azios
Donald Trump's idea of a perfect negotiation is one in which he presents himself as being so extreme and unpredictable that the other side gives him exactly what he wants before he even needs to ask for it.
- By that standard, at least when it comes to the billionaire class, he's doing extremely well so far.
The big picture: Billionaires, by definition, have enough money that they can simply do things their own way and tell anyone they like to bugger off. Even the president.
- By the same token, however, billionaires have the most to lose should they find themselves on Trump's enemies within list.
Where it stands: Some billionaires — Peter Thiel, Elon Musk, and now Mark Zuckerberg — have become vocal Trump supporters.
- Others, especially those with interests in the media, have been working hard to mollify Trump, by refusing to let their newspapers endorse his opponent (Jeff Bezos, Patrick Soon-Shiong), by loudly celebrating Trump at a New York Stock Exchange event (Marc Benioff), or by personally donating to his inauguration fund (Tim Cook).
- JPMorgan CEO Jamie Dimon, also a billionaire, is a good example of how his class is triangulating the present moment. After withdrawing his multitrillion-dollar organization from the Net-Zero Banking Alliance, Dimon has now given a big interview to "60 Minutes" where he echoes Trumpist talking points on "ineffective government" and immigration.
Between the lines: One view is that these actions are simply craven pandering. Another is that they reflect long-held views the billionaires are only now feeling free to make public.
- Trump, for his part, does not particularly care which one it is. As Trump adviser Alex Bruesewitz told Axios, either way "MAGA is winning and will continue to win."
The bottom line: Kamala Harris had more support from billionaires than Trump did, but that was then. Now, the move seems to be to fall into line — or, at the very least, to just shut up and acquiesce to MAGA inevitability.
