The tech bosses who poured $394.1M into US election
Silicon Valley tech executives donated over $394 million to the 2024 US presidential election, with Elon Musk contributing $243 million to Trump, highlighting the tech industry's growing political influence.
Read original articleSilicon Valley tech executives contributed over $394.1 million to the 2024 US presidential election, with Elon Musk leading the donations at approximately $243 million to Donald Trump's campaign. This surge in political financing reflects the tech industry's growing influence in Washington, particularly among cryptocurrency advocates seeking to avoid regulation. Key contributors included Marc Andreessen, Jan Koum, and Chris Larsen, with significant donations also directed to Kamala Harris's campaign. The analysis highlights the complexities of political donations, especially following the 2010 Citizens United ruling, which allowed for unlimited contributions through Super PACs. This has enabled wealthy individuals and corporations to exert considerable influence on political outcomes. The tech sector's shift towards political engagement is evident, as many previously critical figures, including Musk and Andreessen, have changed their stance to support Trump, likely in response to favorable policies for their industries. The cryptocurrency sector has emerged as a major political donor, with its advocates actively participating in both presidential and congressional races. The opaque nature of political financing, including donations through non-profits, complicates the tracking of contributions, raising concerns about the impact of money in politics.
- Silicon Valley tech executives donated over $394 million to the 2024 US presidential election.
- Elon Musk was the largest donor, contributing approximately $243 million to Donald Trump's campaign.
- The cryptocurrency sector has become a significant political donor, seeking to influence regulation.
- The 2010 Citizens United ruling has facilitated unlimited political contributions through Super PACs.
- Many tech leaders have shifted their political support towards Trump, reflecting changing industry dynamics.
Related
The Silicon Valley realignment leading tech titans to Trump
Silicon Valley elites back Trump over Biden for industry-friendly policies on tech. $8.5M donated to pro-Trump PAC. Musk, Andreessen, and Horowitz endorse Trump. Vance as running mate gains support. Rightward shift influences tech industry.
Has Silicon Valley Gone Maga?
In Silicon Valley, influential tech figures like Elon Musk and Marc Andreessen openly support Trump for his innovation stance. Divides in political donations and ideological shifts reflect broader rifts. Commercial interests and tech trends shape preferences.
Silicon Valley, the New Lobbying Monster
Silicon Valley is leveraging super PACs like Fairshake to influence politics, notably defeating Katie Porter in a primary, highlighting the tech industry's significant role in political donations and engagement.
Silicon Valley Billionaires Became Trump's Biggest Donors
A group of Silicon Valley billionaires, led by Elon Musk, is increasingly supporting Donald Trump, shifting from bipartisan stances to far-right ideologies, driven by self-interest and business influence.
Silicon Valley's Andreessen, Horowitz Give Millions to Trump
Venture capitalists Marc Andreessen and Ben Horowitz donated $2.5 million each to a Trump-supporting super PAC, with Andreessen also contributing $844,600 directly to Trump's campaign, surprising Silicon Valley.
> The Democrats, their allied super PACs and other groups raised about $2.9 billion, versus about $1.8 billion for the Republicans
Seems like money in politics isn't really about money in politics. It's all just so exhausting...
And if just sending check to each voter might have been more productive.
It's worth remembering that Silicon Valley's history is inextricably interwoven with the US military. Where once the likes of Facebook, Google or Amazon were upstarts, they are now functionally defense contractors, some more openly than others (eg Palantir).
Americans like to criticize the Chinese control of Chinese Internet companies, including cooperating with the Great Firewall and moving in lockstep to Chinese government policy and messaging (which they do). I hate to break it to you but American Internet companies are doing exactly the same thing.
The real threat of Tiktok was that it doesn't move in lockstep to the US State Department. US tech giants hide behind "algorithms" to manufacture consent [2] (eg by hiding, downranking and/or blocking content relating to Palestine [3]).
People who work in tech generally are more socially progressive. Economics is more of a mixed bag. Most people don't realize pretty much everything is about economics. Big Tech pay lip service to these progressive attitudes by embracing things like Pride Month. Such people might decry the naked politics of Elon Musk, to name one prominent example.
But all this progressivism by Big Tech is purely performative and that's going to be increasingly obvious. You don't see so many of these tech CEOs on this list of political donations but I really wonder what the picture looks like when all the dust settles on PAC donations. I think you'll find there's very little daylight between the politics of any of these CEOs.
[2]: https://en.wikipedia.org/wiki/Manufacturing_Consent
[3]: https://www.hrw.org/news/2023/12/20/meta-systemic-censorship...
In fact, in tech if you remove Elon Musk from the picture that got late to the party, there was an enormous superiority in donations from Google and Meta people. As a leftist press it is, had that superiority remained and had they won like in the last elections, the Guardian would have remained in silence.
Related
The Silicon Valley realignment leading tech titans to Trump
Silicon Valley elites back Trump over Biden for industry-friendly policies on tech. $8.5M donated to pro-Trump PAC. Musk, Andreessen, and Horowitz endorse Trump. Vance as running mate gains support. Rightward shift influences tech industry.
Has Silicon Valley Gone Maga?
In Silicon Valley, influential tech figures like Elon Musk and Marc Andreessen openly support Trump for his innovation stance. Divides in political donations and ideological shifts reflect broader rifts. Commercial interests and tech trends shape preferences.
Silicon Valley, the New Lobbying Monster
Silicon Valley is leveraging super PACs like Fairshake to influence politics, notably defeating Katie Porter in a primary, highlighting the tech industry's significant role in political donations and engagement.
Silicon Valley Billionaires Became Trump's Biggest Donors
A group of Silicon Valley billionaires, led by Elon Musk, is increasingly supporting Donald Trump, shifting from bipartisan stances to far-right ideologies, driven by self-interest and business influence.
Silicon Valley's Andreessen, Horowitz Give Millions to Trump
Venture capitalists Marc Andreessen and Ben Horowitz donated $2.5 million each to a Trump-supporting super PAC, with Andreessen also contributing $844,600 directly to Trump's campaign, surprising Silicon Valley.