Former President Donald Trump’s conviction Thursday for falsifying business records did not deter his high-profile supporters in the business community, some of whom are newly energized by the historic verdict.
In an article published Thursday on presidential.
“Frankly, this is part of why I support him,” Maguire, a partner at Sequoia Capital, wrote on X about Trump’s conviction record. “I believe our justice system is being used against him as a weapon.”
He wasn’t the only prominent business leader who seemed excited.
Tech investor David Sacks, who Bloomberg reported was in talks to host a Trump campaign fundraiser at his San Francisco home, denounced X’s guilty verdict.
“A sham trial designed for one purpose: to call Donald Trump a ‘criminal,'” Sacks wrote Thursday on X. “Watch Democrats and the mainstream media repeat that word over and over again.”
Omeed Malik, an investor with 1789 Capital and Farvahar Partners, told CNBC he believed the verdict would “completely backfire” and boost support for the convicted candidate. Malik co-hosted a fundraiser for Trump this month that raised more than $10 million, CNBC reported.
Maguire, Sacks and Malik did not immediately respond to Business Insider’s requests for comment.
Leading venture capital firms weren’t the only ones circling their wagons.
The Trump campaign said it raised a record $34.8 million from small donors after the verdict, while the National Republican Senatorial Committee also hit a high of $360,000 on Thursday.
Even billionaires who have not announced their support for Trump were quick to criticize this procedure.
Amid reports that Pershing Square CEO Bill Ackman is leaning toward supporting Trump, the billionaire wrote on X Thursday that he agreed with Gov. Ron DeSantis’ assessment of the lawsuit; DeSantis called it “the culmination of a legal process that was subject to the political will of the actors involved.”
Ackman did not immediately respond to BI’s questions about the report that he may support Trump.
Elon Musk also said the proceedings had caused “great damage” to public confidence in the American legal system. »
“If a former president can be criminally convicted for such a trivial matter – motivated by politics rather than justice – then anyone risks meeting the same fate,” Musk wrote on X.
Musk is reportedly under consideration for an advisory role in the Trump White House, the Wall Street Journal reported, although the two men have had a rocky relationship in the past.
Musk has denied being in talks to work with Trump.
Correction: May 31, 2024 — An earlier version of this story included incorrect information when Omeed Malik co-hosted a fundraiser for Trump. It was this month, not last month.
businessinsider
