- Prabowo set to lead bolder Indonesia on world stage
- Tampa zoo rushes Chompers the porcupine and others to safety as Milton nears
- Shanghai stocks pare early surge on stimulus worries amid Asia retreat
- New Japan PM to hold talks on ASEAN sidelines
- Record number of climbers chase 14-peak dream in Tibet
- Former South Korea clinic for US 'comfort women' to be demolished
- China holds off on fresh stimulus but 'confident' will hit growth target
- Chiefs battle past Saints to stay unbeaten
- Deal on climate aid hangs in balance at UN COP29 summit
- Royals hit back against Yankees, Tigers maul Guardians
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Australia moves to expand Antarctic marine park
- Tragedy of Madrid street sweeper highlights how heatwaves kill
- Survivors wait for aid as Trump's lies help cloud Helene response
- Fleeing Israeli bombs, Lebanon's displaced met with suspicion
- Jila Mossaed, from refugee poet to Swedish Academy
- Will Tesla's robotaxi reveal live up to hype?
- Drugs, people smuggling at heart of Mexico's raging violence
- 'Invisibility' and quantum computing tipped for physics Nobel
- Musk says he is 'all in' on Trump in US election
- Category 5 Hurricane Milton roars towards storm-battered Florida
- Carpenter bomb stuns Guardians as Tigers level series
- Harris, Trump and Biden mark Oct. 7 attacks as US election looms
- Oil prices extend gains on Mideast tensions, Wall Street falls
- US judge orders Google to open Android to rival app stores
- On attacks anniversary, Israel fights 'sacred' multi-front war
- Nobel scientist uncovered tiny genetic switches with big potential
- Grammy-winning Cissy Houston, mother of Whitney, dies at 91
- UN biodiversity summit in Colombia aims to turn words into action
- Georgia Supreme Court reinstates six-week abortion ban
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- On attacks anniversary, Israel fights multi-front war
- Mexican mayor murdered days after taking office
- Intensifying to Category 5, Hurricane Milton targets Florida
- Mission to probe smashed asteroid launches despite hurricane
- Biden, Harris mark Oct. 7 with call for Mideast peace
- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Visitors to get rare view of Rome's Trevi Fountain
- Europe's asteroid mission Hera launches despite hurricane
- Man City and Premier League both claim victory in legal case
- Deschamps delight as 'light back on' for Pogba after doping ban
- Biden, Harris urge Mideast peace on Oct. 7 anniversary
- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
CMSD | -0.09% | 24.79 | $ | |
CMSC | -0.53% | 24.57 | $ | |
RYCEF | -0.15% | 6.87 | $ | |
NGG | -1.56% | 65.48 | $ | |
GSK | -0.49% | 38.63 | $ | |
RBGPF | 100% | 60.52 | $ | |
SCS | -0.15% | 12.95 | $ | |
BTI | -0.26% | 35.2 | $ | |
AZN | -0.78% | 76.87 | $ | |
RIO | -0.11% | 69.62 | $ | |
BCC | 1.68% | 141.27 | $ | |
JRI | -0.76% | 13.18 | $ | |
VOD | 0.31% | 9.69 | $ | |
BCE | -0.54% | 33.53 | $ | |
RELX | -0.54% | 46.04 | $ | |
BP | 0.78% | 33.14 | $ |
Musk leads Silicon Valley rally behind Trump
Elon Musk's decision to throw his vast fortune behind Donald Trump's presidential candidacy confirms the rise of a growing right-wing bloc in the traditionally liberal Silicon Valley.
US media reports indicate that Musk and a group of tech investors are contributing to a Super PAC -- a specially designed fund that can spend unlimited amounts on political candidates and causes.
The Wall Street Journal reported that Musk plans to donate $45 million monthly to 'America PAC,' a fund focused on electing Trump, starting in July.
Although Musk stated just months ago that he would not donate to either Trump or President Joe Biden, the right-wing bent of his X platform and his steady flow of incendiary tweets have made his political allegiance clear.
Moments after the assassination attempt on Trump last weekend, Musk said he fully endorsed Trump.
Joining Musk in funding Trump are other, less well-known tech figures motivated by various interests.
These include boosting cryptocurrencies and opposing Biden-appointed regulators who are keeping a closer watch on the tech sector.
Predominantly male and white, Trump's Silicon Valley backers are most united in their loathing of so-called woke ideology, which they claim promotes diversity and equality at the expense of efficiency and excellence.
Many of these Silicon Valley mavens rolled out the red carpet for Trump at a fundraiser last month.
This was hosted by David Sacks, one of the members of the so-called PayPal mafia -- a group that includes -- Musk, who worked at that late 1990s startup and since became the representatives of Silicon Valley's growing right-leaning faction.
Sacks's support earned him a speaking spot at the Republican National Convention, which officially named Trump as the party's candidate.
"In my hometown of San Francisco, Democrat rule has turned the streets of our beautiful city into a cesspool of crime, homeless encampments and open drug use," the South African-born Sacks told the delegates, referring to the Democratic ticket for president.
Another member of the PayPal mafia is Peter Thiel, a German-born arch conservative who closely associated himself with Trump when he entered the White House.
After the assault of the US Capitol in 2021, Thiel said he would stay out of politics and has since become a sort of philosopher king of Silicon Valley's right-wing.
But Thiel contributed heavily to the Senatorial campaign of J.D. Vance, the hard right 39-year-old who was picked by Trump as his vice presidential candidate.
Also planning the Trump fundraiser was Chamath Palihapitiya, a former Facebook executive who, along with Sacks, co-hosts the All-In podcast that has become a must listen for the conservative tech-minded.
Palihapitiya was once a cheerleader of special purpose acquisition companies, or SPAC's, a controversial avenue for companies to go public, under the radar of regulators, by using shell entities.
The practice fizzled after the US Federal Reserve hiked interest rates, throttling the venture capital business and embittering many in Silicon Valley to Biden’s economic policies.
- 'War on crypto' -
On Tuesday, The Information reported that Marc Andreessen and Ben Horowitz, who run one of Silicon Valley’s most prominent venture capital firms, were also backing Trump.
The pair's company is heavily invested in cryptocurrencies and last year created a political war chest to make trouble for lawmakers who want the nascent industry more heavily controlled.
Crypto billionaires Cameron Winklevoss and Tyler Winklevoss are also Trump donors, and attended the fundraiser for the former president in June.
Trump's embrace of crypto has changed from a more hostile stance previously and hopes are that he can help revive the industry in the wake of major scandals and bankruptcies.
The former president "will put an end to the Biden Administration’s war on crypto," Cameron Winklevoss said in June.
Closing out Trump's fellow travelers in Silicon Valley are top executives from Palantir, a data analytics firm co-founded by Thiel that specializes in national security work.
Palantir's co-founder Joe Lonsdale is contributing to the pro-Trump Super PAC, and rails against what he calls Biden's left-wing priorities like affirmative action and regulation.
"Our country is stalled because you have these crazy people in charge," Lonsdale told CNBC this month, speaking of the Democrats.
L.Mason--AMWN