Democrat Kamala Harris’ presidential campaign is winning over some key Wall Street figures, CNN reported.
“Harris has a better relationship with Wall Street than even Joe Biden,” Jeffrey Sonnenfeld, founder and president of the Yale Chief Executive Leadership Institute, told the outlet.
CNN noted that Kamala has generally had a more open approach than Biden to Silicon Valley, where America’s largest companies reside. That’s why, she noted, Wall Street titans are now opening their checkbooks, providing her with a considerable amount of money from a part of the economy that has in the past favored Republican candidates.
At the Democratic National Convention on Tuesday night, former American Express CEO Ken Chenault strongly endorsed Harris.
“She knows that a market-based economy needs a strong and effective government,” he said. Roger Altman, founder and senior chairman of Evercore, told CNBC last month that he was backing Harris. Also in July, Blackstone Chairman Jonathan Gray contributed $413,000 to the Harris Action Fund, while Alex Soros, son of billionaire liberal donor George Soros, endorsed Harris in a post X. But Wall Street “bigwigs” have made clear their support for Trump. Bill Ackman, a billionaire hedge fund manager and CEO of Pershing Square Capital Management, endorsed Trump in a post X in July, after Blackstone CEO Stephen Schwarzman endorsed the former president’s candidacy in March. Burns McKinney, managing director of NFJ Investment Group, told CNN that some big investors may lean toward Trump, given his promises of tax cuts and tariffs. However, Sonnenfeld recalled Trump’s history of attacking iconic American companies such as Harley-Davidson, Delta and Nike. “Wall Street hates Trump’s fickle vengeance. Trump’s temperament creates havoc in financial markets,” he said.
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