When former President Donald Trump falsely declared he won the 2020 Presidential Election, dozens of prominent CEOs of the nation’s top companies feared it could be the end of democracy in the U.S.
ABC News reported that, four years later, some of those CEOs are softening their stance towards Trump as he is likely to become the Republican nominee for president.
Earlier this month, JPMorgan Chase CEO Jamie Dimon told CNBC that Trump wasn’t wrong about several critical issues, including China and the economy, according to the outlet. Several former JP Morgan executives and advocacy group leaders have expressed concerns to ABC News about how attitudes towards the former president are changing, and executives appear to be prioritizing the short-term interests of their companies over the long-term health of the nation’s democracy and, in turn, a stable free market economy.
However, the outlet reported that some of the former executives and advocacy group leaders believe many of those same CEOs acknowledge Trump poses a threat to democracy. However, they’re reluctant to publicly choose a side out of fear of an appearance of partisanship, or even backlash from Trump, should he become president.
“CEOs are hedging their bets,” Tom Rogers, the founder of CNBC, told ABC News. “People think being on the wrong side of Trump was a bad move for individual companies. People may fear that if he is unleashed in a second term, his willingness to take on individual companies could be even more extreme.”
Unlike in the run-up to the 2016 election, Trump is currently fighting numerous felony charges, including allegations in two separate indictments of an illegal attempt to overturn the 2020 presidential election’s outcome. Additionally, he’s currently awaiting a verdict in his $370 million civil fraud trial in New York City that could end his ability to do business in the city.
Several CEOs have said their businesses will continue to thrive no matter who becomes president.
“The reality is, hey, we are the same company, regardless of when that election is going to occur. And regardless of who that president will be,” Salesforce CEO Marc Benioff told Bloomberg earlier this month.
OpenAI CEO Sam Altman told Bloomberg, “I believe America is going to be fine no matter what happens in this election.”
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