President Joe Biden’s unexpected announcement of his withdrawal from the 2024 presidential race has sent shockwaves through the political landscape and business community, eliciting a wide range of responses from prominent figures in big tech and big business.
Fortune reports that President Joe Biden’s surprise declaration on Sunday that he will not seek re-election has stirred a flurry of reactions from business leaders and political figures alike. This development comes just a week after the attempted assassination of former President Donald Trump, adding another layer of complexity to an already tumultuous campaign season.
The news quickly reverberated through Wall Street and Silicon Valley, following recent condemnations of political violence by top CEOs in the wake of the attack on Trump. The former president, recovering from a gunshot wound, swiftly responded to Biden’s announcement on his Truth Social platform, stating, “Crooked Joe Biden was not fit to run for President, and is certainly not fit to serve – And never was!”
Elon Musk, CEO of Tesla, who had endorsed Trump following last week’s shooting, offered his perspective on the situation. In a reply on X, Musk claimed, “I heard last week that he would resign at this exact time and date. It was widespread knowledge in DC. The real powers that be are discarding the old puppet in favor of one that has a better chance of fooling the public. They fear Trump because he is not a puppet.”
Bill Ackman, CEO of Pershing Square, who had previously indicated support for Trump, speculated about the implications for Vice President Kamala Harris. Ackman tweeted, “If @KamalaHarris is not the nominee, it would be an acknowledgement that she was never qualified to be vice president. @KamalaHarris will therefore be the nominee.”
Mark Cuban, billionaire entrepreneur and minority owner of the Dallas Mavericks, known for his support of Biden even after what was described as a disastrous debate performance last month, simply tweeted, “Father time is undefeated.”
Meanwhile, Reed Hastings, Netflix’s cofounder and chairman, posted on X that “Dem delegates need to pick a swing state winner.”
Reid Hoffman, LinkedIn co-founder and Biden campaign donor, expressed support for Vice President Harris to lead the Democratic ticket. Hoffman wrote in a thread on X, “Harris’s background and leadership growing the economy, fighting for bodily autonomy, and protecting our democracy uniquely position her to push back against Trump’s extremism.”
Aaron Levie, CEO of Box, reacted positively to Biden’s decision, tweeting, “Wow. Amazing leadership. Now let’s go!”
Vinod Khosla, billionaire Silicon Valley venture capitalist, urged Democrats to hold an open convention and select a more moderate candidate capable of defeating Trump. Khosla suggested on X that Michigan Gov. Gretchen Whitmer and Pennsylvania Gov. Josh Shapiro “would be a great thing for America not held hostage between MAGA extremists and DEI extremism. Unique opportunity for a better moderate path. Every socially liberal, climate and fiscal voter should want it to balance our approach.”
Lawrence Summers, former Treasury Secretary and White House economic adviser, praised Biden’s withdrawal as a “noble act.” Summers highlighted Biden’s legislative accomplishments, stating, “The President can lay claim to this legacy: No president since FDR has passed so much legislation supporting the economic interests of the middle class. I have not agreed with every measure, but the cumulative accomplishment will be studied by historians for decades and perhaps centuries to come.”
Morris Pearl, former managing director at BlackRock and current chairman of Patriotic Millionaires, lauded Biden’s move in a statement on Sunday. Pearl emphasized Biden’s role in combating authoritarianism and advocating for working people, stating, “President Biden’s decision to sacrifice his personal political ambitions in service to the American people will go down in history as an unrivaled act of selfless patriotism. By passing the baton to the next generation, Biden cements his legacy as a bulwark against the rising tide of authoritarianism, a fierce advocate for working people, and a fundamentally good man who put his country above all else.”
Many Silicon Valley Masters of the Universe have remained quiet. Mark Zuckerberg, Jeff Bezos, and Google CEO Sundar Pichai have not commented publicly as of this writing.
Read more at Fortune here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
COMMENTS
Please let us know if you're having issues with commenting.