The U.S. presidential race is heating up as key players from the business world rally behind their favored candidates. While Elon Musk has been busy garnering headlines for his vocal support of Donald Trump, several prominent billionaires and business leaders are throwing their weight behind Vice President Kamala Harris as she approaches the November election.
Musk's endorsement of Trump isn’t exactly subtle. Recently, he appeared at a rally in Pennsylvania, urging attendees to vote early for the Republican nominee, emphasizing the importance of the state as it’s considered a toss-up. Musk has historically made hefty financial contributions toward Trump's campaign, reportedly exceeding $70 million this election season—the kind of backing most candidates would envy.
Still, as Musk aligns himself with Trump, others are making their preferences known. Mark Cuban, the billionaire behind the television show Shark Tank, showed his support for Harris during a campaign event at the University of Wisconsin-La Crosse. He criticized Trump’s policies, labeling them as “gibberish,” and pointed out past Trump claims, such as the suggestion Mexico would fund the border wall. Cuban has framed this election as “a battle for entrepreneurs,” voicing concerns over how Trump’s administration would impact small businesses. Despite his presence on the campaign trail, Cuban has declined to donate to political parties or super PACs supporting Harris.
Financial backing is pouring in for Harris from multiple sources. Tech billionaire Laurene Powell Jobs, along with innovators like Sam Altman and David Ellison, have all contributed to her campaign. Notably, Bloomberg, the former mayor of New York City and one of the wealthiest individuals globally, has funneled around $19 million to a super PAC promoting Harris's candidacy.
Harris’s campaign has also benefitted from the deep pockets of Reid Hoffman, co-founder of LinkedIn, and his wife, Michelle Yee. Together, they have contributed $10 million to Future Forward PAC, which supports Democratic candidates. Their political engagement doesn't stop there; the Hoffmans are also backing the Republican Accountability PAC and have donated upwards of $6 million to various other political causes.
Sam Altman, the CEO of OpenAI, who has previously donated money to Democratic politicians, continues this trend by supporting Harris’s victory fund. His contributions are indicative of his alignment with the Democratic agenda, which he perceives as more beneficial for both the tech industry and society.
Adding to the influential voices supporting Harris is music superstar Taylor Swift. After closely watching the presidential debates, Swift made her endorsement known through her popular Instagram account, stating her belief in Harris's fight for rights aligning with her values. Swift's post received over 11.3 million likes, showcasing the massive influence she wields over her fan base.
Alongside Swift, Mike Bloomberg continues to assert his financial support for Harris, not hesitating to impact political outcomes. Bloomberg's donations span various PACs, introducing strong backing for gun safety and general Democratic efforts—funding intended to safeguard against challenges posed by Trump’s campaign.
Sheryl Sandberg, the former COO of Meta, displayed her support for Harris on social media, describing her as “an accomplished leader” and advocating for her campaign. Sandberg’s view of Harris reflects broader sentiments among certain business elites who feel Harris embodies the progressive changes they hope to see if she becomes president.
Other tech moguls are not shying away from publicly declaring their support either. Reed Hastings, co-founder of Netflix, has made significant contributions, donating $7 million to the super PAC supporting Harris—marking his largest donation to any political figure. Hastings’s move signals not only personal conviction but also the weight business leaders can add to political campaigns.
Venture capitalist Ron Conway lent his voice through the “VCs for Harris” initiative, which urged fellow tech investors to unify behind Harris. The pledge notes the fundamental importance of strong institutions and reliable leadership for the future of various industries.
Vinod Khosla, another influential venture capitalist, has also backed Harris. Known for his philanthropy and support of the Democratic Party, he's contributed to campaigns aiming at progressive reform. Khosla’s backing is particularly relevant as he continues to leverage his influential status within Silicon Valley to support candidates he believes represent innovation and growth.
David Ellison, founder of Skydance Media, joined forces with 87 other business leaders to sign their endorsement of Harris, supplementing their support with significant financial contributions directed toward the Harris Victory Fund. Their collective voice not only demonstrates the power of business leaders to sway public opinion but also indicates the noticeable divisions within the business community over political preferences this election season.
Melinda French Gates, the billionaire philanthropist and former wife of Bill Gates, publicly voiced her endorsement of Harris, citing the candidate’s commitment to reproductive rights, caregiver support, and family medical leave. Gates emphasized Harris’s long-standing advocacy on these issues, portraying her as “a woman of our time.” She has also publicly disclosed making substantial contributions toward Harris’s campaign and initiatives aimed at empowering women.
While Musk seeks to generate energy for Trump’s campaign, Harris’s diverse backing from influential figures highlights the stark contrasts drawn between the two political factions. The upcoming election promises to be closely watched as candidates attempt to leverage their unique support systems for victory, influence, and potential change.
With the election only weeks away, both candidates face the pressures of their respective endorsements, financial contributions, and public support, making it evident the stakes this season are higher than ever. It remains to be seen how this eclectic mix of billionaires and business leaders will influence voter turnout and shape the outcome of the presidential race.
