The tech billionaires going all-in for Trump: ‘There’s a wellspring of support in Silicon Valley’

Donald Trump’s new label as “convicted felon” hasn’t repelled a coterie of Silicon Valley tech billionaires, who are joining forces to back the former president just days after his historic guilty verdict in the hush money trial, according to reports.

The former president is expected to attend a series of private fundraisers in California, beginning on Thursday night at the home of entrepreneur and investor David Sacks. The billionaire is co-hosting the dinner with former Facebook senior executive Chamath Palihapitiya, Ventura County Star reported.

The fee to enter is steep with tickets ranging from $50,000 for individuals to $500,000 for couples, Politico reported.

The private fundraiser is predicted to rake in upward of $12 million, according to the New York Times. An estimated 25 people plan to attend the dinner while around 50 others plan to attend the reception, the outlet wrote.

The Independent has reached out to a representative for Sacks for comment.

Some of the guests, according to the Times, include crypto entrepreneur, Ryan Selkis, and former US ambassador to Austria during the Trump administration, Trevor Traina. Top Palantir executive Jacob Helberg intends to be there, and he is reportedly bringing a plus one: Tennessee Republican Senator Bill Hagerty.

“It’s safe to say that there’s a wellspring of support in Silicon Valley,” Mr Sacks told the Times, “especially given the backlash to the political prosecution of Trump.”

It does appear to be part of a increasing tilt towards Trump in Silicon Valley, historically known for its left-leaning views.

This coming weekend, Palmer Luckey, founder of VR company Oculus and defense technology company Anduril, will host Trump in southern California, according to the outlet.

In April, Sacks co-hosted a so-called “anti-Joe Biden” fundraiser with the world’s second richest person Elon Musk. The event’s guest list reportedly included Peter Thiel, Rupert Murdoch, Michael Milken, and Travis Kalanick.

Trump has recently gotten a boost from other deep pockets in Silicon Valley.

One day before Trump’s landmark conviction in New York, Sequoia Capital partner Shaun Maguire announced on X that he had donated $300,000 to the Republican candidate’s campaign.

Sacks replied to the tweet, writing: “After Biden’s disastrous presidency, Trump has a lot of supporters in Silicon Valley; many are just afraid to admit it. But with each act of courage, like this one, the dam begins to break.”

Billionaire Miriam Adelson — the eighth richest woman in the world — also plans to resurrect her pro-Trump super PAC, Politico reported last week.

The billionaires’ backing comes at an inopportune moment for Biden, whose campaign reported raising less cash in April than the Trump side for the first time this election cycle.

Despite the recent uptick in support for Trump in California, Biden has a fundraising fleet of his own. A star-studded fundraiser in Los Angeles is being planned for mid-June, hosted by actor George Clooney and DreamWorks co-founder Jeffrey Katzenberg, Axios reported. Former president Barack Obama and actress Julia Roberts are also expected to attend.

Biden is also expected to attend a “mega fundraiser” with former president Bill Clinton in June, the outlet noted.