According to Jeffrey Sonnenfeld, the president of the Yale Chief Executive Leadership Institute, claims that Donald Trump is regaining the support of CEOs ahead of the 2024 presidential election are not accurate. In an essay published in The New York Times, Sonnenfeld argued that CEOs did not support Trump before and are not backing him now. He emphasized that despite some high-profile endorsements from individuals like Steve Schwarzman and David Sacks, no Fortune 100 chief executive has donated to Trump’s campaign so far in 2024.
Sonnenfeld’s analysis was released amid reports of substantial donations to Trump’s campaign from billionaires such as Timothy Mellon and Liz and Dick Uihlein. However, despite these financial contributions, Sonnenfeld’s insights from his interactions with CEOs suggest that the business community remains hesitant about supporting Trump. Despite the possibility that some CEOs may have reservations about a second term for President Joe Biden, they fear the prospect of Trump returning to the White House.
In fact, Sonnenfeld specifically mentioned individuals such as Steve Schwarzman and David Sacks as outliers who have publicly endorsed Trump. However, he highlighted that not a single Fortune 100 chief executive has donated to Trump’s campaign so far in 2024. Despite this fact, some high-profile Republicans have recently come out in support of Trump for another term in office. For instance, former Speaker Paul Ryan endorsed him earlier this year. However, these endorsements do not change the reality that CEOs continue to be hesitant about supporting Trump.
In conclusion, while some Republicans may believe that there is a resurgence in CEO backing for Trump ahead of the 2024 election, Jeffrey Sonnenfeld’s insights suggest otherwise. His analysis contradicts claims made by other Republicans and provides a critical perspective on the reality of corporate America’s sentiments towards the former president.