Remember When CEOs Departed Trump’s Business Council?
Cast your mind back to late summer 2017, when several high-profile CEOs stepped down from President Donald Trump’s business advisory councils. Their departure was a protest against Trump’s response to the white nationalist rally in Charlottesville, where he referred to the participants as “very fine people.” At that moment, it seemed like American CEOs would stand firm against Trump’s extreme views. Unfortunately, that was not to be the case. In just a few months, these business leaders were vying for favor with Trump once again.
Following the January 6, 2021, attack on the U.S. Capitol, instigated by Trump, many CEOs publicly declared they would stop funding politicians who denied the election results. Moreover, leaders in social media took a stand by banning Trump from their platforms. However, my hope that these actions would curb Trump’s extremism and his surging MAGA movement proved futile. Within two years, these same CEOs were back to funding election deniers, and by three years, Trump was reinstated on major social media platforms, continuing to spread his falsehoods.
Trump receives nothing but undiluted encouragement, emboldening his dangerous behavior further.
During the past eight months, amid Trump facing 34 criminal charges in Manhattan, a civil defamation conviction tied to alleged sexual misconduct, and his ongoing derogatory remarks about immigrants and foreign nations, I briefly entertained the hope that business leaders might finally distance themselves from Trump. Yet, this hope was in vain.
Business Leaders’ Continued Alliance with Trump
Jeff Bezos, the founder of Amazon and owner of The Washington Post, initially had a tense relationship with Trump due to the Post‘s critical reporting. Trump retaliated by alleging Amazon’s unfair advantage in deals with the U.S. Postal Service and influencing a Pentagon decision against Amazon. However, after surviving an assassination attempt, Trump received a supportive call from Bezos, who lauded Trump’s resilience on social media. Additionally, Bezos has moved away from endorsing political candidates like Kamala Harris and expresses optimism about Trump’s regulatory reduction plans. Amazon has even committed $1 million to Trump’s inauguration and plans to stream the event.
Not to be outdone, Meta’s CEO Mark Zuckerberg was invited to dine at Mar-a-Lago, contributing the same amount to the inaugural fund. Meta released a statement about the significance of this era for American innovation and Zuckerberg’s eagerness to engage with Trump’s team. Despite previous accusations from Trump that Facebook suppressed pro-Trump views and his call for Zuckerberg’s imprisonment, Zuckerberg has shifted his stance, openly supporting and praying for Trump during his campaign.
Similarly, other tech leaders like OpenAI’s CEO Sam Altman and numerous Silicon Valley figures, including Elon Musk, are aligning themselves with Trump, with Altman donating $1 million to the inaugural fund and expressing support for Trump’s AI policies.
From the World Economic Forum in Davos, Jamie Dimon, CEO of JPMorgan Chase, praised Trump’s past policies, claiming they positively impacted NATO, immigration, and economic growth, despite evidence to the contrary. Dimon’s praise seemed motivated by a desire to maintain a favorable relationship with Trump, especially after facing criticism from Trump over Dimon’s support for Nikki Haley.
These actions by some of America’s most influential CEOs signal a broader trend of capitulation to Trump, at a time when they should be advocating for democracy, law, and decency. Instead, they are enhancing the power of a figure who poses a significant threat to American democratic values.
Other tech moguls like Elon Musk have deepened their ties with Trump, contributing significantly to his campaign and engaging in public disputes with rivals like Zuckerberg. Such engagements underscore the strategic, albeit controversial, relationships forming as these leaders navigate the political landscape.
As Trump’s second inauguration approaches, businesses and individuals are seizing the opportunity to donate to the inaugural committee, which offers substantial perks for top-tier donors. While Amazon contributed to Trump’s previous inaugural events, it noted that the Biden campaign did not accept tech company donations in 2020.
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