In an essay published in The New York Times, Jeffrey Sonnenfeld, president of the Yale Chief Executive Leadership Institute, refuted the claim made by Republicans that Donald Trump is regaining the support of the country’s CEOs ahead of the 2024 presidential election. According to Sonnenfeld, the notion of CEOs flocking to Trump is false, as they did not support him before and continue to steer clear of him now.
Sonnenfeld emphasized that Trump currently faces the lowest level of corporate support in the history of the Republican Party. He highlighted individuals like Steve Schwarzman and David Sacks as exceptions rather than the norm. A critical indication of this lack of enthusiasm for Trump among corporate America is that not a single Fortune 100 CEO has contributed to his campaign so far this year.
According to Sonnenfeld’s interactions with CEOs, while some may have reservations about a second term for President Joe Biden, they are deeply concerned about Trump returning to the White House. He emphasized that chief executives typically prioritize investing in regions with a strong rule of law rather than where rulers dictate it.
Sonnenfeld’s analysis came in response to significant donations made to Trump’s campaign by billionaires like Timothy Mellon and Liz and Dick Uihlein. However, he pointed out that these contributions do not reflect a shift in sentiment among corporate America towards Trump.
Overall, Sonnenfeld’s essay sheds light on the sentiments and reservations of America’s leading CEOs towards Trump’s potential return to power.
