The 2024 U.S. presidential election is witnessing a battle for influence between ultrawealthy donors and major candidates like Joe Biden and Donald Trump. While Biden has support from Hollywood and Silicon Valley billionaires, Trump is backed by figures like Tim Dunn and the Uihleins.
Recently, a surprising trend has emerged as powerful billionaires who previously distanced themselves from Trump are now rallying back to support him, setting aside concerns for democracy. Despite criticisms and disavowals after the Capitol insurrection, billionaires like Stephen Schwarzman and Nelson Peltz are now backing Trump once again.
Experts suggest that the billionaire elite are attracted to Trump due to promises of tax cuts, deregulation, and economic benefits. Even as Trump aligns with far-right groups and faces accusations of antisemitism, billionaires are overlooking these issues in favor of personal gains.
The article also highlights Trump’s growing support from the fossil fuel industry and Silicon Valley, pointing out how the lure of economic policies outweighs concerns about democratic values among the wealthy elite.
This shifting landscape of billionaire support for Trump reflects a complex interplay of economic interests, political ideologies, and personal gains that may shape the outcome of the 2024 election.