Kamala Harris may not have attracted enough support after the most intense and polarising presidential campaign in US history, but this has resulted in Donald Trump returning to the White House. His victory marks a new chapter for US tech businesses and also the global tech sector, which is already preparing for potential policy and regulatory changes under his administration. With key appointments on the horizon, such as potential roles for figures like Elon Musk, and potential shifts in trade tariffs, tech leaders are closely monitoring how these decisions could impact innovation, international trade, and market stability.
As Trump’s administration begins to take shape, leaders across tech and business are assessing their strategies to navigate the regulatory and economic landscape that may emerge. We tracked some of the most influential business leaders for their reaction to the results of the election. Take a look below:
Elon Musk
The Tesla founder’s support for Donald Trump has evolved over the years. Initially, he was critical of Trump during the 2016 election. However, after Trump’s presidency, Musk’s stance shifted, and he grew closer to Trump. Musk has made major moves, such as reinstating Trump’s Twitter account in 2022 and contributing to Republican campaign efforts. In 2024, Musk was reportedly involved in discussions with Trump’s campaign advisers, focusing on key issues like election integrity and border control. He posted on Twitter saying:
It is morning in America again pic.twitter.com/GNTE0cUWoc
— Elon Musk (@elonmusk) November 6, 2024
Jeff Bezos
Even though Jeff Bezos hasn’t been a direct, outspoken supporter of Donald Trump, but the Amazon founder has congratulated Trump on Twitter saying, “Big congratulations to our 45th and now 47th President on an extraordinary political comeback and decisive victory. No nation has bigger opportunities. Wishing @realDonaldTrump all success in leading and uniting the America we all love.”
Big congratulations to our 45th and now 47th President on an extraordinary political comeback and decisive victory. No nation has bigger opportunities. Wishing @realDonaldTrump all success in leading and uniting the America we all love.
— Jeff Bezos (@JeffBezos) November 6, 2024
Brad Garlinghouse
Brad Garlinghouse, CEO of Ripple Labs, congratulated Donald Trump on his re-election victory through a tweet, showing support as Trump returns to the White House.
With the crypto industry closely monitoring how Trump will address key issues like regulation and innovation, Garlinghouse’s tweet added to the growing conversation around what the future of cryptocurrency could look like under his administration.
Trump’s earlier statements, including his plan to potentially fire SEC Chairman Gary Gensler, have raised expectations within the crypto community. Now, with Trump’s victory confirmed, many are wondering if his promises will become a reality, especially regarding Gensler’s future role.
.@realDonaldTrump, Congratulations!
Some fodder for your first 100-day checklist to get things moving:
– Fire Gensler. Day 1, no delays.
– In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…— Brad Garlinghouse (@bgarlinghouse) November 6, 2024
Jared Tate
Similarly, Jared Tate, known for his involvement in cryptocurrency and blockchain technology as the founder of DigiByte also tweeted to celebrate the victory of Donald Trump in the presidential election and expressed optimism for the future under his leadership.
Good morning America & the world! Today is a brand new day, and we all shall be unburdened by what has been. Get ready for 4 new years of World peace, epic bull markets & prosperity for all. Congratulations @realDonaldTrump! Let’s Make America Great Again! Time to get to work! pic.twitter.com/EyG2Ns68H5
— Jared Tate ©️ (@jaredctate) November 6, 2024
Mark Cuban
Despite initially endorsing Joe Biden in previous elections, Cuban, the billionaire owner of the Dallas Mavericks and prominent tech investor expressed a more neutral stance following Trump’s win, congratulating Trump on social media.
Congrats @realDonaldTrump. You won fair and square.
Congrats to @elonmusk as well. #Godspeed
— Mark Cuban (@mcuban) November 6, 2024
While the Shark Tank star has been critical of Trump on various occasions, especially during the 2016 and 2020 elections, he has also mentioned his willingness to support some of Trump’s policies, particularly those that align with business interests.
According to a recent report by The New York Times, Mark Zuckerberg also reached out to Donald Trump twice in an attempt to mend their relationship. The Meta billionaire has reportedly told those close to him that his political views have shifted towards a more “libertarian” or “classical liberal” stance, moving away from his previous progressive alignment. In July, Zuckerberg even praised Trump’s reaction to a personal assassination attempt, calling it “one of the most badass things” he’d ever witnessed. Additionally, Trump mentioned that Sundar Pichai, the CEO of Google, personally called him to congratulate him on his McDonald’s campaign.
Well, as Donald Trump returns to the White House, the tech industry is bracing for potential changes that could reshape the landscape of innovation, regulation, and investment in the U.S. Trump’s previous administration saw the rise of policies that encouraged deregulation and tax cuts for businesses, but also sparked controversy over tech regulation and antitrust concerns, especially regarding major players like Meta, Google, and Amazon. As he steps back into power, tech leaders are keenly watching to see if Trump will fulfill promises to support digital innovation while navigating issues such as trade tariffs, privacy laws, and the role of big tech in politics.
With key decisions looming on issues like cryptocurrency regulation and the appointment of SEC leadership, the industry’s response could be pivotal. Will Trump maintain a pro-business stance, or will his administration shift toward stricter regulations and heightened scrutiny of the tech sector? As companies like Tesla, Amazon, and Ripple closely monitor these developments, the coming months will be crucial in determining how the new administration influences the future of American tech.
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