The assassination attempt on former President Donald Trump is poised to bring a wave of political support, beginning just hours after the incident with messages from prominent billionaires Elon Musk and Bill Ackman.
"I fully support President Trump and hope for his speedy recovery," posted the Tesla CEO on X. Since acquiring the social media platform, the world's richest man has not shied away from openly expressing his right-wing bent but had previously refrained from direct public support of Trump. Despite announcing in June that he would not donate to any candidates, Bloomberg reported this week that Musk contributed an undisclosed amount to America PAC, an organization backing Trump.
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Jewish billionaire Bill Ackman, former US President Donald Trump and Elon Musk
(Photos: Richard Drew/AP, Brian Snyder/Reuters, AFP)
Shortly after Musk’s post, Jewish billionaire Bill Ackman, CEO and portfolio manager of Pershing Square Capital Management, also expressed his support for the Republican candidate. Although he did not explicitly link his statement to the assassination attempt, Ackman said in a post on X, "I came to this decision some time ago, as many X followers have already understood from my supportive posts of Trump and my criticisms of Biden."
Ackman, who has 1.3 million followers on X, emphasized that his decision was made carefully, rationally, and based on empirical data.
"I just haven't had the time nor felt the urgency to write the post as we are still a few months from the election," Ackman explained his delayed endorsement, adding that he wanted to explain his reasoning "in detail and address the arguments that others raised against Trump." Ackman mentioned a recent meeting with Trump and promised to elaborate on his decision in a forthcoming article.
This marks a significant shift for the prominent Jewish billionaire. Ackman, a longtime Democratic donor, had supported figures such as Al Gore, Barack Obama and Pete Buttigieg. In 2021, following the January 6 Capitol riots, he said that Trump should "resign and apologize to all Americans."
However, Ackman's stance has shifted dramatically since the October 7 Hamas attack on southern Israel. He has become increasingly critical of the Democratic Party, particularly in response to pro-Palestinian demonstrations on college campuses. He played a key role in the pressure campaign that led to the resignation of Harvard University President Claudine Gay. Earlier this year, he formally left the Democratic Party.
"I was a Bill Clinton Democrat, and the party has changed into something I don't want to be associated with," Ackman told CNBC in January. He also mentioned being open to voting for Republican candidates, namely Nikki Haley.
Last year, Ackman publicly said that President Biden should not seek a second term. "He is significantly past his prime," Ackman remarked. "I think Biden has done a lot of good things, and his legacy will be damaged if he is the Democratic nominee in 2024."
Musk's endorsement of Trump was anticipated and did not represent a major shift in his views. Musk was the first billionaire to welcome Trump's return to X after his suspension following the January 6 events. Despite this, Trump has continued to post exclusively on his social network, Truth Social.
Support from billionaires for Trump is not unusual, often motivated by tax policy considerations. Notable supporters include Harold Hamm, founder of Continental Resources, with a fortune estimated at $18.5 billion. Hamm, a longtime friend of Trump, has hosted fundraising events that raised over $1 billion.
Timothy Malone, from a wealthy banking family with an estimated value of $14 billion, is a prominent Republican mega-donor and significant contributor to Trump's campaign.
Bernie Marcus, co-founder of Home Depot, with an estimated net worth of $9.6 billion, donated $1 million to Trump last year and has hosted fundraisers for him.