US corporate leaders shift back to trump ahead of 2024 Election
According to The Wall Street Journal, after distancing themselves from Donald Trump following the January 6, 2021, Capitol riots, many U.S. corporate leaders seek to rebuild ties with him as he prepares for a potential return to the White House.
Last week, when Trump hosted a bell-ringing ceremony at the New York Stock Exchange, dozens of influential executives attended, including representatives from Visa, Meta, Goldman Sachs, Charles Schwab, and Citadel. Prominent figures like real estate mogul Robert Bigelow and investor Bill Ackman were also present. These business leaders are betting that cultivating personal relationships with Trump could benefit their operations and avoid potential conflicts with him.
Reports indicate that Trump and his advisers have received numerous calls from executives eager to meet him at Mar-a-Lago. A business consultant close to Trump has advised clients to engage with him in any way possible, emphasizing tax and regulatory reform opportunities. Some have even sought advisory roles in Trump's potential administration.
Meta recently donated $1 million to Trump's inauguration fund, with CEO Mark Zuckerberg dining with Trump at Mar-a-Lago. Likewise, Amazon, owned by Jeff Bezos, plans to donate $1 million and is arranging a meeting with Trump this week.
Following the Capitol riots, Trump was labeled a "persona non grata" by major corporations like Amazon, Comcast, and General Electric, which pledged to halt political donations to Republican lawmakers who opposed President Biden's election certification. While some Wall Street investors have supported Trump in his current campaign, many executives remain cautious.
A consulting firm Firehouse Strategies partner stated, "As Trump potentially returns to power, the White House will draft numerous new policies next year. Smart executives realize that shaping policies is better than opposing them."
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