Elon Musk and other prominent figures from Silicon Valley are showing their support for Ohio senator J.D. Vance, who has been chosen as former president Donald Trump’s running mate. Musk praised the Trump-Vance ticket, calling it a “resounding victory” and a wise decision by Trump. This endorsement from Musk, along with others like David Sacks and Tucker Carlson, came after lobbying efforts over the weekend to convince Trump to select Vance.
Vance’s background in venture capitalism has endeared him to the tech industry, especially given his past work with major investors like Peter Thiel and Steve Case. Thiel even donated $15 million to Vance’s 2022 Senate campaign, while Sacks contributed $900,000. Despite his ties to the tech world, Vance has been critical of the industry during his time in the Senate. He has called for restrictions on the liability protections provided to social media companies under Section 230 and advocated for breaking up monopolistic tech giants.
Despite these regulatory stances, Vance continues to enjoy strong support from Silicon Valley. Investors like Jason Calacinis see a Trump-Vance administration as beneficial for startups and capitalism in general. However, not all right-leaning investors are on board with Vance’s selection, as evidenced by Ken Griffin’s opposition.
Vance’s backers in Silicon Valley could play a significant role in financing Trump’s reelection campaign. The America PAC, a pro-Trump group supported by tech entrepreneurs such as the Winklevoss brothers, may receive substantial financial backing from Musk. Reports suggest that Musk could be donating $45 million per month to the PAC, adding to the support from other tech donors like Shaun Maguire.
The Biden-Harris campaign has criticized Vance’s support from billionaires and corporations, claiming that his policies would benefit the wealthy at the expense of the general population. However, with Silicon Valley leaders like Musk backing Vance, the race for the vice presidency promises to be a highly contested and financially fueled affair.
