Billionaires Musk, Ackman, Schwarzman speak out for Trump

well within hours of that verdict president Trump's campaign seeing renewed support as top Wall Street and business Executives doubled down in their support of Trump's 2024 run for re-election he also got a big inpouring from Individual donors as well ra Yahoo finance senior columnist Rick Newman is here but let's talk about the big donors for a moment because they certainly didn't seem dissuaded there was a lot of outspokenness on social media for example in support of the of the former president yeah and we're talking about guys like Elon musk Steve schwarzman Bill Amman some other billionaires I mean everybody who's sick of self-important billionaires please raise your hand I mean I certainly am uh let's go back to basics here um somebody one of these guys said this was a kangaroo court this was actually a jury trial uh this is the way this is the this is the foundation of the American legal system is a jury trial so you you don't respect the validity of jury trials I think that's completely H hypocritical I mean here's why uh everybody in finance knows that the United States is the world's Premier destination for capital in part because it has a rigorous and transparent legal system contracts matter everybody knows what the rules are Everybody Plays by the same rules and guess what that's why people get one of the reasons people get rich here in America it's not Russia okay it's not just uh Elites who are buddies with the with the president okay um the all these guys have benefited from a terrific superb foundational legal system here in United States and then to come out and say oh was this jury trial is a joke it's a scam it's a sham to repeat this garbage that Trump is saying um if if something went wrong in this trial it will go it is going to go to to appeal uh the appeals court will rule appropriately and it will say okay there was a problem probably they won't probably the jury is going to stand so I mean if I had any of these guys here I would say okay you don't what other parts of the legal system do you US legal system you object to you don't object to a jury uh jury trial by jury what else don't you like well I we should we should note though Rick it is not just billionaires who came out right I mean it was Bill akman and David Sachs Elon Musk but listen I what did you make of trump announcing $35 million Hall after that verdict and he said in the campaign saying 30% were new donors that's a lot of people so Trump's persecution complex is a familiar phenomenon by now I mean it's still very peculiar I mean it um but it doesn't change the fact that me persecution that's a $35 million and 30% our new Hall I'm I'm trying to get the point it's not we can talk about musk and and but that's not really what deter it it's really that's a lot of folks people identify with Trump's persecution complex or do they identify with policies I don't think it has anything to do with Trump's policies I don't think it has I don't think people even know I don't think a lot of these people even know Trump's policies they don't know Biden's policies either uh I mean Biden has done a lot of things that actually help people I mean he's done affordable housing he's do he's done all kinds of Aid he did the last round of stimulus checks um a lot of things people don't give Biden any credit for that um his uh Biden's green energy is helping Republican states and districts more than Democratic ones nobody knows or cares um there's something that nobody has really completely figured out yet but it goes all the way back to 2016 make America great again American Carnage uh China's eating your lunch all this stuff I mean there are just a lot of people who like this victim victimology rhetoric and they identify with they feel that they were just better off when Trump was president that I mean that's part of what's going on and it is actually true that gas prices even adjusted for inflation were lower when Trump was President not for anything Trump did I mean that's just Global supply and demand but I mean this is the phenomenon of trump which is that he pulls some he he P gets people to identify with him he'll who feel the system has not worked for them the system has screwed them over uh they've been ripped off that the system is red against them and those are those are that's Trump's base right there they're not necessarily people say white working class lower income working class lowi information voters AKA stupid people um they're not they're not all I mean but there are a lot of people who are relatively successful who still feel the system is rigged rigged against them for a whole variety of reasons and Trump somehow found out figured out a way Jos to Josh's point it doesn't matter how smart or stupid you are you know if your dollar doesn't go as far now as it did and I re I don't I think it's really Rick you really think all these Republicans are just saying you know it's rigged are they saying that or they thinking you know what I just believe in low taxes less regulation I think it's better for the economy I think it's better for me my company and the country it's not as simple as you want it to be I'm sorry but I think you're making it simple though this is not Republicans I mean you're actually describing uh old traditional conservative Republicans which not the Trump base I mean Trump has pulled people out who never really were Republicans I think the Republican party has fundamentally changed I take your point the black magic that he has that other Republicans before him don't have and really no other Republicans have is this appeal to AG grieved people that is the thing that makes Trump trump and I can't explain it I just know it's a thing and I know that explains why the money comes pouring in every time something you're saying agreed I think a lot of trump supporters would say they just don't like the direction the country is going I don't think those are the same thing they the thing that gets Trump over the top is the grieved voter his Coalition is bigger than that I mean he had evangelicals in in 2016 and 2020 for example not I'm going to wrap you but honestly this is like a constant Mantra here it's all anger but but somehow there's never any mention of the anger on the other side the other side dancings and rain so what people don't know is the producers are telling us to rap and you can't stop so we're going to make a whole show out of this I would love to man I'll see you guys you just go we can go with this all right we got her I'll I'll wrap since they won't we'll be right back here we're just getting started on Mark domination

Channel: Yahoo Finance

Views: 65,715

Keywords: Yahoo Finance, Personal Finance, Money, Investing, Business, Savings, Investment, Stocks, Bonds, FX, Currencies, NYSE, Equities, News, Politics, Market, Markets, Yahoo FInance Premium, Stock market

Id: pssUl1w02qE

Length: 6min 13sec (373 seconds)

Published: Sat Jun 01 2024