Silicon Valley titans rally behind Trump with hefty donations: FT
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Although Silicon Valley is traditionally seen as a liberal stronghold, some tech leaders, disillusioned with Biden’s policies on regulation and taxes, have been shifting politically to the right, as per the Financial Times.
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A Silicon Valley Bank office is seen in Tempe, Arizona, US March 14, 2023. (AFP)
US technology and business leaders, including Palantir Technologies co-founder Joe Lonsdale, venture capital pioneer Doug Leone, and the Winklevoss twins, have contributed to a new super-political action committee supporting Donald Trump's presidential campaign, the Financial Times reported Tuesday.
America PAC, which was launched in June, has raised over $8.7 million, as reported in a public filing. This amount includes several $1 million donations from Silicon Valley investors who have recently endorsed Trump.
Donors include Sequoia partner Shaun Maguire and Valor Equity Partners founder Antonio Gracias, as well as Leone of Sequoia Capital and Lonsdale of 8VC and Palantir.
A source with direct knowledge of the super PAC mentioned that Tesla and X CEO Elon Musk is expected to make a donation, as per the report. Musk, who has business ties with many of the donors including Lonsdale, did not respond to a request for comment. On this issue, The Wall Street Journal reported Monday that Musk has pledged to contribute approximately $45 million each month to Donald Trump's presidential campaign.
Musk is donating funds to a Super PAC, which will be dedicated to increasing voter turnout, the newspaper said, citing people informed on the matter.
Additionally, coal titan Joe Craft, CEO of Alliance Resource Partners, and Jimmy John Liautaud, founder of the Jimmy John’s sandwich chain, each donated $1 million. Cameron and Tyler Winklevoss each contributed $250,000, according to the filings.
Although Silicon Valley is traditionally seen as a liberal stronghold, some tech leaders, disillusioned with President Joe Biden’s policies on regulation and taxes, have been shifting politically to the right, as per the report.
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Trump has appealed to libertarian-leaning entrepreneurs and venture capitalists with promises to "safeguard free speech and support the cryptocurrency industry."
Elon Musk endorsed Trump on Saturday, shortly after an assassination attempt on the Republican candidate at a rally in Butler, Pennsylvania. Musk wrote on X: “Last time America had a candidate this tough was Theodore Roosevelt." Hedge fund billionaire Bill Ackman also announced his formal endorsement of Trump on Saturday.
On Monday, Musk praised Trump's selection of Senator J.D. Vance, a former venture capitalist, as his running mate, calling it an "excellent" choice. Musk wrote on X: "Trump-Vance resounds with victory." Musk had previously supported Democrats, including Biden, Hillary Clinton, and Barack Obama.
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— Elon Musk (@elonmusk) July 15, 2024
TRUMP
VANCE
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Resounds with victory
Vance has deep connections to elite technology circles, having worked for Peter Thiel’s venture fund Mithril Capital in San Francisco from 2015 to 2017 and later for Washington-based venture fund Revolution, founded by AOL CEO Steve Case.
Thiel contributed $15 million to support Vance’s Senate campaign in 2022 through a donation to the Protect Ohio Values PAC, according to federal election records.
Major Trump donor linked to Gaza genocide
Jacob Helberg, a Palantir executive and major Trump donor, praised Vance as “a pro-technology and pro-America First pick who will be an extraordinary advocate for President Trump’s agenda and the American people."
Notably, some of the advanced targeting software used in the ongoing Israeli genocide against Palestinians in Gaza is provided by the American company, Palantir Technologies, as per a report by The Nation last April.
As per the report, Palantir has equipped Israeli occupation forces (IOF) with sophisticated and powerful targeting capabilities, enabling them to precisely target aid workers. This technology has significantly enhanced the IOF's operational effectiveness, though it has also raised concerns about its use in war zones and the potential implications for humanitarian efforts.
The report highlighted how such technology allowed the precise targeting of the World Central Kitchen vehicles.
In 2020, Vance launched his own venture firm, Narya Capital, with backing from Peter Thiel, Andreessen Horowitz co-founder Marc Andreessen, startup investor Scott Dorsey, and former Google CEO Eric Schmidt. Based in Cincinnati, Ohio, the firm managed about $200 million in assets last year, according to Securities and Exchange Commission filings, with the goal of directing more Silicon Valley funding into US cities that are underserved by tech investment.
Some of Silicon Valley’s most prominent figures have become increasingly active in supporting Trump’s campaign. Venture capitalist David Sacks hosted a fundraiser at his San Francisco home last month, where Vance introduced Trump and spoke at the Republican National Convention in Milwaukee on Monday.
Keith Rabois, a managing director at Khosla Ventures, said as quoted by the Financial Times he would also donate $1 million to support Trump.
According to the most recent data from 2022 disclosures, Vance had personal investments in over 100 public and private companies, including Anduril Industries, a Thiel-backed AI defense group, and space simulation company Slingshot Aerospace, along with up to $100,000 worth of Walmart shares.
Vance also invested personally in the controversial video platform Rumble, with a stake valued at up to $300,000 in 2022, and in the Christian prayer app Hallow, with a stake worth up to $100,000 that year.
Additionally, Vance disclosed owning between $100,001 and $250,000 in bitcoin on the cryptocurrency exchange Coinbase in 2022.
Read more: Trump slams Biden policy, urges Israelis not to share Gaza war footage
