Stocks that could move, the biggest donors, jobs for Jamie Dimon and Elon Musk: Election news roundup

Quartz Staff
·6-min read
Graphic: Images: Joshua Lott/The Washington Post, Saul Loeb/AFP, Samuel Corum, Win McNamee
Graphic: Images: Joshua Lott/The Washington Post, Saul Loeb/AFP, Samuel Corum, Win McNamee


Election Day is here. While the markets watch and wait for a winner, check out some of our recent coverage of the candidates, their policies, and how the results could impact business and markets.

How an election win for Donald Trump or Kamala Harris will affect stocks

Millions of Americans are heading to the polls. What they decide will impact the path of the stock market for the next several years. - Photo: Joshua Lott/The Washington Post (Getty Images)
Millions of Americans are heading to the polls. What they decide will impact the path of the stock market for the next several years. - Photo: Joshua Lott/The Washington Post (Getty Images)

Election Day is just hours away, and no one is really sure what will happen or who will emerge victorious. As far as the stock market is concerned, experts have one simple message — calm down.

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The 10 biggest billionaire donors to Kamala Harris, Donald Trump, and others this election

Vice President and Democratic presidential nominee Kamala Harris shakes hands with Former President Donald Trump, the Republican nominee, on September 10, 2024. - Photo: Saul Loeb/AFP (Getty Images)
Vice President and Democratic presidential nominee Kamala Harris shakes hands with Former President Donald Trump, the Republican nominee, on September 10, 2024. - Photo: Saul Loeb/AFP (Getty Images)

Politics is expensive. That goes double for election years.

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Elon Musk bet the house on Trump. But no matter who wins, Musk has a lot to lose

Elon Musk on stage in Pennsylvania handing Judey Kamora a $1 million check from Musk’s America PAC. The group is now mired in litigation over its prizes. - Photo: Samuel Corum (Getty Images)
Elon Musk on stage in Pennsylvania handing Judey Kamora a $1 million check from Musk’s America PAC. The group is now mired in litigation over its prizes. - Photo: Samuel Corum (Getty Images)

Elon Musk has become a fixture of the 2024 campaign season as a vocal and free-spending supporter of former President Donald Trump. But no matter who wins this week’s election, the outcome could mean major changes for the Tesla (TSLA) founder and the world’s richest person.

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Jamie Dimon as Treasury Secretary under Kamala Harris? The JPMorgan chief might just be into it

JPMorgan CEO Jamie Dimon. - Photo: Win McNamee (Getty Images)
JPMorgan CEO Jamie Dimon. - Photo: Win McNamee (Getty Images)

JPMorgan Chase (JPM) chief Jamie Dimon has publicly praised former President Donald Trump while being careful to stay neutral in this year’s presidential election. But he has privately expressed support for Vice President Kamala Harris’ campaign — and even an openness to serving in her cabinet if she wins.

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Donald Trump is promising big tariffs. Businesses are ready to hike prices

Former President Donald Trump - Photo: Joe Raedle (Getty Images)
Former President Donald Trump - Photo: Joe Raedle (Getty Images)

If former President Donald Trump wins the presidential election next week and returns to the White House, he’s poised to massively raise tariffs on foreign imports. U.S. companies are readying their response — raising prices on consumers.

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Michael Bloomberg voted for Kamala Harris ‘without hesitation’ — and slammed Trump’s ‘ignorance’

Major Democratic donor Michael Bloomberg shakes hands with President Joe Biden at an event on September 24, 2024, in New York. - Photo: Bryan Bedder for Bloomberg Philanthropies (Getty Images)
Major Democratic donor Michael Bloomberg shakes hands with President Joe Biden at an event on September 24, 2024, in New York. - Photo: Bryan Bedder for Bloomberg Philanthropies (Getty Images)

Billionaire and major Democratic donor Michael Bloomberg said he voted for Vice President Kamala Harris “without hesitation,” accusing former President Donald Trump of making the U.S. look like a banana republic.

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Elon Musk in a Trump administration? A top aide suddenly says no

Elon Musk - Photo: Samuel Corum (Getty Images)
Elon Musk - Photo: Samuel Corum (Getty Images)

For more than a month, Elon Musk has been eyeing a position leading a task force under a hypothetical Trump administration. Now, it appears his role has been downgraded to “writing software” to help slash the federal budget, according to Former President Donald Trump’s transition team co-chair.

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Billionaire John Paulson makes an appeal to Elon Musk as he seeks a Trump cabinet job

Billionaire John Paulson on set of “The Claman Countdown” at Fox Business Network Studios on September 17, 2024 in New York City - Photo: Rob Kim (Getty Images)
Billionaire John Paulson on set of “The Claman Countdown” at Fox Business Network Studios on September 17, 2024 in New York City - Photo: Rob Kim (Getty Images)

Billionaire hedge fund manager John Paulson told The Wall Street Journal that he would work with Elon Musk in a potential second Trump administration as he seeks a slot in the former president’s cabinet.

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Elon Musk says Trump’s economic plans will cause ‘temporary hardship’ and tank the stock market

Tesla and SpaceX CEO Elon Musk - Photo: Anna Moneymaker (Getty Images)
Tesla and SpaceX CEO Elon Musk - Photo: Anna Moneymaker (Getty Images)

Elon Musk is the richest person on the planet right now. That’s probably part of why he’s fine with former President Donald Trump’s economic plans causing, in his words, “temporary hardship” in the pursuit of a healthier economy years down the road.

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7 tech leaders cozying up to Donald Trump before Election Day

Former President Donald Trump - Photo: Anna Moneymaker (Getty Images)
Former President Donald Trump - Photo: Anna Moneymaker (Getty Images)

With Election Day less than a full week away, no one is quite sure who will become the 47th president of the United States. For many tech CEOs, that means former President Donald Trump — a frequent critic of companies like Meta (META) and Google (GOOGL) — may return to the White House.

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Jeff Bezos says he didn’t know Blue Origin met with Trump as he tries to calm Washington Post storm

Amazon Chairman and Blue Origin founder Jeff Bezos - Photo: Joe Raedle (Getty Images)
Amazon Chairman and Blue Origin founder Jeff Bezos - Photo: Joe Raedle (Getty Images)

Jeff Bezos says there is “no connection” between the Washington Post’s decision not to endorse a presidential candidate and his space company’s meeting with former President Donald Trump.

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Elon Musk claims he can cut the federal budget for Trump by ‘at least’ $2 trillion

Tesla and SpaceX CEO Elon Musk raises his hands and shouts at a rally for Republican presidential nominee, Former President Donald Trump, at Madison Square Garden on October 27, 2024. - Photo: Michael M. Santiago (Getty Images)
Tesla and SpaceX CEO Elon Musk raises his hands and shouts at a rally for Republican presidential nominee, Former President Donald Trump, at Madison Square Garden on October 27, 2024. - Photo: Michael M. Santiago (Getty Images)

In between belting out a 2024 version of the “Dean Scream” and asking supporters of former President Donald Trump to vote, Elon Musk claimed he could slash $2 trillion in government spending in a hypothetical federal government gig.

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The truth about Donald Trump’s tax and tariff plans

Photo: Saul Loeb/AFP (Getty Images)
Photo: Saul Loeb/AFP (Getty Images)

With Election Day just around the corner, it’s a good time to look at some of the implications of Donald Trump’s proposed tax plans, and how they’d help — or hinder — the U.S. economy.

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A Nobel Prize-winning economist on Donald Trump’s tax and tariff plans: ‘This is just a really bad idea’

Photo: Christine Olsson/TT/AFP (Getty Images)
Photo: Christine Olsson/TT/AFP (Getty Images)

As the presidential election comes down to the wire, Quartz spoke with Simon Johnson, an economist at the Massachusetts Institute of Technology who last month won the Nobel Prize in Economics with colleagues Daron Acemoglu, also of MIT, and James A. Robinson, of the University of Chicago. Their work focuses on how countries become prosperous.

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Jamie Dimon’s wife is door-knocking for Kamala Harris

JPMorgan Chase CEO Jamie Dimon and wife Judith Kent at a White House State Dinner in Washington, DC, on April 10. - Photo: Drew Angerer (Getty Images)
JPMorgan Chase CEO Jamie Dimon and wife Judith Kent at a White House State Dinner in Washington, DC, on April 10. - Photo: Drew Angerer (Getty Images)

Judith Kent, the wife of JPMorgan Chase (JPM) chief Jamie Dimon, has been knocking on doors in Michigan for Vice President Kamala Harris’ presidential campaign.

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Ray Dalio doesn’t like the choice between Kamala Harris and Donald Trump

Bridgewater founder and CIO Ray Dalio. - Photo: Dia Dipasupil (Getty Images)
Bridgewater founder and CIO Ray Dalio. - Photo: Dia Dipasupil (Getty Images)

Bridgewater Associates founder Ray Dalio isn’t too thrilled about the prospect of either a Kamala Harris or (second) Donald Trump administration.

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