Following the conclusion of the 2024 U.S. presidential elections, tech leaders have extended congratulations to Donald Trump. After Trump secured victory, CEOs from major tech companies, including Meta, Apple, and Google, expressed their willingness to collaborate with the new administration. Mark Zuckerberg, CEO of Meta, hailed Trump's win as a "decisive victory" and showed enthusiasm for future cooperation.
Zuckerberg's comments, however, were met with criticism from users on Meta's social platform, Threads, who were displeased with his conciliatory tone. He has a history of conflict with Trump, especially after donating heavily to nonprofits during the 2020 election, which drew ire from many Republican members. Moreover, Zuckerberg's company had previously banned Trump's social media accounts following the Capitol Hill riots in January 2021, though these were later reinstated.
Amazon's founder Jeff Bezos, who has had a complex relationship with Trump, also took to the X platform to celebrate what he described as Trump's "remarkable political comeback." Despite tensions in the past, Bezos and Amazon's current CEO, Andy Jassy, congratulated Trump on his victory. The Washington Post, owned by Bezos, decided not to endorse any presidential candidate for the first time in over thirty years, which led to significant backlash and subscriber cancellations, raising questions about Bezos' motives.
Elon Musk, a key ally of Trump and CEO of Tesla (TSLA, Financial) and SpaceX, is set to benefit the most from Trump's presidency. Musk has reportedly donated a substantial amount to Trump's campaign. Following Trump's win, Tesla shares surged nearly 15%, reaching a new high since July 2023. Analysts believe Musk’s SpaceX could secure more lucrative government contracts. Trump's past remarks have shown support for the electric vehicle industry, likely benefiting Tesla.
Other tech leaders, including Apple CEO Tim Cook and Google CEO Sundar Pichai, among others, also expressed congratulations to Trump, underscoring their intent to collaborate with his administration. The tech industry anticipates potential relief from antitrust litigations initiated under Biden’s tenure, as Trump’s presidency might shift the regulatory landscape in their favor.
Amidst potential antitrust challenges, tech companies may find new opportunities under Trump’s leadership, who is expected to favor policies that encourage growth and acquisitions. The Republican platform for 2024 includes plans to revoke restrictions on AI imposed during Biden’s presidency, offering tech companies greater freedom in AI development.
