During Donald Trump’s inauguration, a striking image emerged – one of the world’s richest and most influential men standing in support of their president. However, this tableau could also be seen as a desperate attempt to avoid retribution from Trump’s second term.
Many prominent business leaders, including Mark Zuckerberg, Jeff Bezos, Tim Cook, Sundar Pichai, Sergey Brin, and Elon Musk, have clashed with Trump over various issues during his first term. Yet, they chose to stand together in support of him for their own self-preservation.
As a result, these billionaires have faced harsh consequences under Trump’s second term. Despite their efforts to appease the president, they continue to face repercussions such as tariffs, lawsuits, and declining stock prices.
Zuckerberg, for instance, was forced to settle a baseless lawsuit filed by Trump after being banned from Facebook. However, this did not protect him from the Federal Trade Commission’s ongoing antitrust lawsuit, which seeks to unravel Meta’s ownership of Instagram and WhatsApp. The billionaire’s efforts to appease Trump have ultimately proved futile in avoiding scrutiny from regulatory bodies.
Source: https://www.fastcompany.com/91324317/how-big-techs-faustian-bargain-with-trump-backfired