Vice President Kamala Harris’ rise to the top of the Democratic presidential field has opened up rifts among the tech industry’s biggest left-leaning donors, while a growing number of Silicon Valley tycoons are voicing their support for Republican nominee Donald Trump.
Biden quickly endorsed Harris as the Democratic nominee, but some deep-pocketed donors from the tech industry are skeptical that she can win the race and have said the party should embrace an open convention.
“I would prefer an open process with a convention, not a coronation.” Well-known tech investor Vinod Khosla wrote in X:“It remains about who can best defeat Trump, above all other priorities.”
Tagged by Khosla Ventures boss Democratic Gov. Gretchen Whitmer of Michigan and Gov. Josh Shapiro of Pennsylvania added, “It’s great to see America no longer held captive by MAGA extremists and DEI extremists. This is a unique opportunity for a better, more moderate path.”
But Whitmer later withdrew from the race and endorsed Harris on Monday. He will serve as co-chair of her campaign. Shapiro also spoke on Monday. He expressed his support for Harris..
Netflix board chairman Reed Hastings said Democrats were “back in the game” after Biden left the country, but he did not immediately endorse Harris.
“Democratic delegates need to pick the winners of the battleground states,” Hastings wrote to X.
Hastings had stepped up pressure on Biden after he said earlier this month he would withhold further donations unless another Democrat was replaced.
Mike Novogratz, founder and CEO of Galaxy Digital Holdings and a crypto billionaire, also called for a competitive nomination process.
“Behind the scenes donors are saying who’s best to win.” Novogratz told The New York Times. “The donor community that I’ve spoken to doesn’t think she’s the best suited to win, but everyone thinks she should be given a fair chance.”
Meanwhile, Ms. Harris received a key endorsement from Democratic megadonor and LinkedIn co-founder Reid Hoffman, who called her “the right person at the right time.”
“When faced with the choice between Kamala Harris and Donald Trump, I trust the American people will make the right decision for our country,” Hoffman said.
Alex Soros, the son and heir to liberal billionaire George Soros, also endorsed Harris’ candidacy, calling her the “best and most qualified candidate.”
Ms Harris has previously received political backing from former Facebook executive Sheryl Sandberg and Salesforce CEO Marc Benioff, neither of whom have said whether they will endorse her for the Democratic nomination in 2024.
President Biden on Sunday withdrew from the presidential race to overturn the results of the 2024 election. The move came after his abysmal performance in last month’s debates led key Democratic leaders and donors to call for him to withdraw.
With the Democratic Party in disarray, Silicon Valley has seen a shift in support for Trump during this election cycle.
Tesla CEO Elon Musk, investors Marc Andreessen and Ben Horowitz, and Palantir co-founder Joe Lonsdale expect a Republican president to take a friendlier approach to technological innovation, including emerging areas like cryptocurrency and artificial intelligence.
Last week, President Trump nominated J.D. Vance, a venture capitalist and protégé of PayPal billionaire Peter Thiel, as his running mate.
“My smartest friends, including lifelong Democrats living in the San Francisco Bay Area, are excited about Trump/Vance,” Musk wrote on X after Biden’s announcement.
“I believe in an America where individual freedom and individual talent flourishes,” Musk added. “That used to be Democrats, but now the pendulum has swung to Republicans.”
