Transition of power
How should wealthy Democrats respond to Donald Trump’s victory and the current state of the party? Many donors are concerned about potential backlash and a lack of motivation among liberals. Some affluent Democrats are even considering relocating to another country.
Democratic billionaires are unsure about how to proceed following Donald Trump’s victory. They are concerned about potential backlash and the lack of energy within the liberal party. Some wealthy Democrats are considering relocating to another country.
Kamala Harris, the Vice President, addressed her supporters in Philadelphia during her last campaign event before Election Day. Despite receiving significant donations from Democratic supporters, she did not win any key swing states. This information was credited to Erin Schaff from The New York Times.
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Written by Theodore Schleifer
Writing from the nation
Following the election, Reid Hoffman, a prominent donor in the Democratic Party and co-founder of LinkedIn, has been contemplating a decision that would have seemed unlikely for a billionaire known for his patriotism.
Departing from the United States.
According to three sources who requested anonymity, Mr. Hoffman, who has invested a significant amount of money in politics in recent years, has informed friends and associates that he is considering relocating abroad.
Mr. Hoffman, who chose not to provide a statement through a representative, has financially supported strong legal action against Donald J. Trump. He is concerned about potential backlash from a president who has threatened to target his political adversaries, such as prominent Democratic supporters.
Mr. Hoffman’s response is intense, and it’s uncertain if relocating to another country would actually shield him or his assets from any potential negative consequences from Mr. Trump. However, he is not the only one in a wealthy, liberal circle who is surprised by Vice President Kamala Harris’s loss.
Numerous significant contributors or their consultants have discussed the possibility of relocating internationally in private conversations. Meanwhile, many others are cautiously looking towards the future or actively working to influence it. Some are sharing documents designed to assist in analyzing the aftermath for Democrats, brainstorming potential new media ventures, or urging their colleagues to continue fundraising efforts for liberal causes.
Last week, the usually calm biannual meeting of the Democracy Alliance, a group of prominent liberal donors, turned into a four-day group therapy session filled with tension and nervous energy at the Salamander Hotel in Washington.
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