These billionaires were firmly behind Trump and Republicans. This until the rates have been announced
President Donald Trump The tariff plans caused panic in the equity markets and the American families concerned. He also had some of his richest supporters who spoke against his policies.
They are probably now breathing a sigh of relief after the president reversed the course and announced a break on the plane.
In his Wednesday post on Truth Social, Trump said the decision to “substantially lower” His withdrawals were due to over 75 countries that contacted his administration for broker commercial agreements. The reaction was instantaneous – with the markets that returned to record the maximums. Before this, while the commercial war took place and intensified last week, more and more the financial allies of Trump – even those closest to him – had started to express concerns, both privately And publicly.
Here is a look at who his rich supporters are and what rates said:
Elon Musk
Also for the self -proclaimed “first friend”, who personally poured millions of dollars in the campaigns of the president and his allies, the rates seemed to be too much.
A new relationship stated that Elon Musk – who has a net assets of $ 360 billion – has made several personal appeals to Trump To reconstruct his plans for rates, before Wednesday’s break, as well as publicly publishing his social media site x on the benefits of international commercial cooperation.
He also made White house commercial consultant Peter NavarroThe architect of the tariff plans – which later intensified in a public feud.
As managing director of the electric car manufacturer Tesla, Musk opposed the rates for years and during Trump’s first term, Tesla intended a cause in an attempt to overturn the import tax from China.
Saturday, Musk also expressed the hope that America and Europe could move on to “a zero tariff situation” effectively creating a free trade area between Europe and the United States “.
Bill Ackman
The manager of the billionaire fund, who approved Donald Trump’s race for the president, was one of the most public with his reasons for Washington to take a break on rates, claiming that they would cause “a great global economic interruption”.
While the rates are essential to eliminate the “unjust trading practices” by the partners, implement them without granting time for the agreements will make “unnecessary damage”, he said in a place on X.
In a Sunday post, Ackman – which has a equity of $ 8.8 billion – suggested that a 90 -day break could be used to “resolve the unjust asymmetrical tariff and induce trillion dollars of new investments in our country”.
Do not do it, he said, it would entail “economic nuclear war in every country in the world” and would damage the reputation of the United States in a way that would require decades to repair.
Jamie Dimon
Although initially supports Trump rates, Jamie Dimon, CEO of JP Morgan Chase, warned on Wednesday That a recession was a “probable result” of the commercial war, although previously he had told those who worried about rates and inflation to “overcome it”.
On Wednesday, Dimon warned that “sticky inflation” is not going away soon as he urges the administration to start negotiating new commercial agreements with other “quickly” countries.
The man who is worth more than $ 2 billion insisted on the fact that he was “taking a calm vision” of the situation. “Let them please them, take a deep breath, negotiate some commercial agreements,” he said. “This is the best thing they can do.”
Ken Fisher
On Monday, the billionaire Ken Fisher, the founder and executive president of Fisher Investments, described the Trump rates such as “stupid, wrong, arrogant, ignorant, as regards trade and face a problem with missed tools.
“Yet, as far as I can say that it will vanish and fail and the fear is greater than the problem, which is bullish from here.” Fisher said that while normally he would not publicly comment on the presidential actions, that “on the Trump rates is beyond the pale of a long shot”.
