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Musk, Bezos, and Zuckerberg to Attend President-elect Trump’s Inauguration

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Tech moguls Elon Musk, Jeff Bezos, and Mark Zuckerberg are set to attend the inauguration of U.S. President-elect Donald Trump on Monday, according to a source familiar with the event’s planning. The CEOs of Tesla, Amazon, and Meta will have prominent seating alongside Trump’s Cabinet nominees and other officials during the swearing-in ceremony, NBC News reported.

Both Amazon and Meta have reportedly contributed $1 million each to support Trump’s inauguration. Elon Musk, CEO of Tesla, SpaceX, and X, played an even larger financial role, spending over $250 million to aid Trump’s election campaign in November. Representatives from Tesla, Amazon, and Meta did not immediately provide comments regarding the event or their executives’ participation.

Their attendance underscores the influence of major tech leaders in the political landscape, despite occasional public disagreements between Trump and some of the tech companies represented.

 

Ripple’s Chris Larsen Donates $1 Million to Harris PAC, Signaling Crypto Industry’s Support for Vice President

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Chris Larsen, co-founder and chairman of Ripple, has made a significant $1 million contribution in XRP tokens to Future Forward, a super PAC backing Vice President Kamala Harris’ presidential campaign. Larsen’s move is noteworthy, as the crypto industry has predominantly supported Republican candidates, with many leaders favoring former President Donald Trump.

Larsen’s support for Harris comes after months of conversations with campaign insiders, where he felt reassured by her understanding of the innovation economy, particularly given her ties to the Bay Area, a hub for tech and blockchain development. Harris’ replacement of President Biden at the top of the Democratic ticket in July further cemented Larsen’s confidence in her ability to address industry concerns.

A Shift Toward Harris: The Crypto Community and Political Influence

Larsen’s contribution is part of a broader trend of crypto-related political donations, though the majority has been directed toward Republicans. Public Citizen, a nonprofit watchdog group, reported that nearly half of all corporate donations in the 2024 presidential race come from the crypto sector. While Trump has received over $4 million in virtual tokens, Larsen has aligned with Harris, becoming one of the first major crypto figures to back her candidacy.

Larsen, who has a net worth of $3.1 billion, has also been politically active in other areas. His contributions in 2023 alone include donations to Democratic Gov. Josh Shapiro of Pennsylvania and support for John Deaton, a Republican taking on Elizabeth Warren, a staunch crypto critic. Larsen’s contributions to the Harris campaign, totaling around $1.9 million, show his increasing stake in the political future of cryptocurrency regulation.

Regulatory Concerns and Industry Frustration

Larsen’s backing of Harris stems from frustration with Gary Gensler, chair of the Securities and Exchange Commission (SEC), who has been perceived as hostile toward the crypto industry. Gensler’s aggressive stance, including actions against Ripple for alleged securities law violations, has made him a contentious figure within the space. Ripple’s legal battles with the SEC have cost the company over $100 million in litigation fees, a situation Larsen and other industry leaders attribute to a regulatory landscape plagued by uncertainty and overly strict measures.

Ripple’s leadership, including CEO Brad Garlinghouse, has expressed disappointment with Gensler’s approach, calling it “purposeful chaos” designed to stifle the domestic crypto market while empowering less regulated international operations. Larsen, in particular, views Harris as someone who could bring a more balanced and “pragmatic approach” to crypto regulation, contrasting her with Gensler’s more punitive strategies.

Growing Crypto Support for Harris

While Ripple has been a consistent donor to pro-crypto initiatives, Larsen’s support for Harris could be a turning point in how the industry approaches Democratic candidates. Uniswap, a decentralized exchange currently facing legal scrutiny, has also seen its legal chief, Marvin Ammori, contribute to the Harris Action Fund. Additionally, Anthony Scaramucci, former White House communications director under Trump, has given over $36,000 to PACs supporting Harris, signaling a shift in crypto donor allegiances.

One key area where Harris has begun to address the crypto space is through her “Opportunity Agenda for Black Men,” which includes a framework for cryptocurrency in the U.S. that emphasizes safeguarding assets while promoting innovation. Harris highlighted the importance of AI and digital assets during a $27 million fundraiser in New York, marking one of her first major public acknowledgments of cryptocurrency.

Challenges Ahead

Despite Larsen’s contributions and optimism, some skepticism remains within the crypto community. James Delmore, a blockchain analyst, noted that many in the Ripple and broader crypto communities are uncertain about Harris’ policies and how she would navigate the complex regulatory landscape. However, Larsen remains unfazed by criticism and emphasized that he is confident in Harris’ ability to lead the crypto space forward with a more pragmatic regulatory framework.

With industry leaders like Ben Horowitz of Andreessen Horowitz also showing signs of supporting Harris after initially backing Trump, it appears that Harris’ candidacy is gaining momentum among influential crypto advocates. Horowitz, a long-time friend of Harris, recently indicated plans to make a significant contribution to her campaign, further aligning the interests of Silicon Valley with her presidential bid.

Venture Capitalist Ben Horowitz Pledges Donation to Vice President Kamala Harris’ Campaign

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Venture capitalist Ben Horowitz, co-founder of Andreessen Horowitz, revealed plans to donate to Vice President Kamala Harris’ election campaign, despite previously pledging support to Donald Trump’s political action committees. In a letter to employees, Horowitz explained that his donation was driven by a longstanding personal friendship with Harris and her support over the past decade.

Horowitz and his wife, Felicia, have known Harris for over 10 years, and their close relationship motivated them to contribute financially to entities supporting the Harris-Walz campaign, as confirmed by CNBC. This move marks a notable shift after the firm’s earlier financial backing of Trump’s 2024 bid, which was attributed to their focus on defending policies favoring “Little Tech”—a term they use to describe smaller tech companies and startups.

Horowitz’s Letter and Motivation

In his letter, Horowitz updated his employees on his recent political activities. He wrote:
“As I mentioned before, Felicia and I have known Vice President Harris for over 10 years, and she has been a great friend to both of us during that time. As a result of our friendship, Felicia and I will be making a significant donation to entities that support the Harris-Walz campaign.”

While Horowitz expressed confidence in Harris based on their personal conversations, he noted that her team has not yet made clear their official tech policy, meaning Andreessen Horowitz, as a firm, has not altered its broader political stance. The firm has been highly critical of the Biden administration‘s policies regarding startups and cryptocurrency, positioning their political donations primarily in defense of these sectors.

Support for Trump and “Little Tech”

Horowitz’s decision to support both Harris and Trump highlights a complex political balancing act within Silicon Valley’s venture capital community. In July, Horowitz and Marc Andreessen voiced concerns about Big Tech regulation and policies they believed could stifle smaller tech companies and innovation. Their decision to donate to Trump’s campaign was framed around defending these principles.

Andreessen Horowitz has been outspoken in protecting the interests of smaller tech firms, especially in response to the current administration’s regulatory stance on startups and cryptocurrency. They outlined their position in a blog post in July, stating, “Our political efforts as a firm are entirely focused on defending Little Tech. We do not engage in political fights outside of issues directly relevant to Little Tech.”

A Split Political Strategy

Horowitz’s decision to financially back candidates from both major political parties suggests a strategic approach to ensure influence over policies critical to Silicon Valley’s interests. While he acknowledges Harris’ contributions as a personal friend, the firm’s leadership remains focused on advocating for pro-tech policies that benefit their investments in emerging technologies and startups.

This dual-track strategy illustrates the tensions many tech leaders face in navigating the political landscape while protecting the innovation ecosystem they rely on.