Vice President Kamala Harris’s rise to the top of the Democratic presidential ticket has sparked a rift among the tech industry’s biggest left-leaning donors – even as a growing number of Silicon Valley bigwigs throw their support behind GOP nominee Donald Trump.
While Biden quickly endorsed Harris to replace him as the Democratic nominee, some deep-pocketed donors in the tech industry appear skeptical of her ability to win the race – and have argued the party should embrace an open convention.
“I want an open process at the convention and not a coronation,” famed tech investor Vinod Khosla wrote on X. “They key still is who can best beat Trump above all other priorities.”
The Khosla Ventures boss tagged Democratic Michigan Gov. Gretchen Whitmer and Pennsylvania Gov. Josh Shapiro, adding it “would be a great thing for America not held hostage between MAGA extremists and DEI extremism. Unique opportunity for a better moderate path.”
Whitmer, however, has since taken herself out of the running, announcing Monday that she endorsed Harris and would serve as co-chair of her campaign. Shapiro on Monday also signaled his support for Harris.
Netflix executive chairman Reed Hastings said the Democratic Party was “back in the game” after Biden stepped aside. However, he did not immediately endorse Harris.
“Dem delegates need to pick a swing state winner,” Hastings wrote on X.
Hastings had ramped up the pressure on Biden earlier this month after he publicly stated he would withhold further donations unless another Democrat replaced him.
Mike Novogratz, the founder and CEO of Galaxy Digital Holdings and a cryptocurrency billionaire, also called for a competitive nomination process.
“Donors behind the scenes are saying, who’s the best ticket to win?” Novogratz told the New York Times. “And the donor community I speak to doesn’t think she’s the best to win, but everybody thinks she deserves a fair chance.”
On the other hand, Harris gained a key endorsement from Democratic mega-donor and LinkedIn co-founder Reid Hoffman, who described the vice president as “the right person at the right time.”
“When presented with the choice between Kamala Harris and Donald Trump, I believe in the American people to make the right decision for our country,” Hoffman said.
Alex Soros, the son and heir of liberal billionaire George Soros, also backed Harris’s bid, calling her the “best and most qualified candidate.”
In the past, Harris has received political support from former Facebook executive Sheryl Sandberg and Salesforce CEO Marc Benioff. Neither has said if they endorse her as the 2024 Democratic nominee.
President Biden upended the 2024 election by dropping out of the presidential race on Sunday – a move came after his disastrous performance at a debate last month led key Democratic leaders and donors to call for his exit.
With the Democratic party in disarray, Silicon Valley has seen a shift toward Trump this election cycle.
Tesla boss Elon Musk, investors Marc Andreessen and Ben Horowitz and Palantir co-founder Joe Lonsdale are among those betting that the Republican will adopt a friendlier approach toward tech innovation, including budding fields like cryptocurrency and artificial intelligence.
Last week, Trump named JD Vance – a venture capitalist and protégé of PayPal billionaire Peter Thiel – as his running mate.
“My smartest friends, including those living in the San Francisco Bay Area who have been lifelong Dems, are excited about Trump/Vance,” Musk wrote on X after Biden made his announcement.
“I believe in an America that maximizes individual freedom and merit,” Musk added. “That used to be the Democratic Party, but now the pendulum has swung to the Republican Party.”
