J Carlson
2024-06-24 17:26:22 UTC
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PermalinkDr. Sonnenfeld is the president of the Yale Chief Executive Leadership Institute.
Recent headlines suggest that our nation’s business leaders are embracing the
presidential candidate Donald Trump. His campaign would have you believe that
our nation’s top chief executives are returning to support Mr. Trump for
president, touting declarations of support from some prominent financiers like
Steve Schwarzman and David Sacks.
That is far from the truth. They didn’t flock to him before, and they certainly
aren’t flocking to him now. Mr. Trump continues to suffer from the lowest level
of corporate support in the history of the Republican Party.
I know this because I work with roughly 1,000 chief executives a year, running a
school for them, which I started 35 years ago, and I speak with business leaders
almost every day. Our surveys show that 60 to 70 percent of them are registered
Republicans.
The reality is that the top corporate leaders working today, like many
Americans, aren’t entirely comfortable with either Mr. Trump or President Biden.
But they largely like — or at least can tolerate — one of them. They truly fear
the other.
If you want the most telling data point on corporate America’s lack of
enthusiasm for Mr. Trump, look where they are investing their money. Not a
single Fortune 100 chief executive has donated to the candidate so far this
year, which indicates a major break from overwhelming business and executive
support for Republican presidential candidates dating back over a century, to
the days of Taft and stretching through Coolidge and the Bushes, all of whom had
dozens of major company heads donating to their campaigns.
Mr. Trump secured the White House partly by tapping into the anticorporate,
populist messaging of Bernie Sanders, who was then a candidate, a move that Mr.
Trump discussed with me when I met him in 2015. The strategy might have won
voters but did little to enhance Mr. Trump’s image with the business community.
And while a number of chief executives tried to work with Mr. Trump as they
would with any incumbent president and many celebrated his move to cut the
corporate tax rate, wariness persisted.
Several chief executives resented Mr. Trump’s personal attacks on businesses
through divide-and-conquer tactics, meddling and pitting competitors against
each other publicly. Scores of them rushed to distance themselves from Mr.
Trump’s more provocative stances, resigning en masse from his business advisory
councils in 2017 after he equated antiracism activists with white supremacists.
Dozens of them openly called for Mr. Trump’s impeachment in 2021 after the Jan.
6 insurrection.
https://www.nytimes.com/2024/06/23/opinion/ceo-trump-republican-support.html
Business tycoons hate Trump.