A group of prominent Wall Street Democrats, including Marc Lasry, Ray McGuire, Blair Effron, Brad Karp, and Brian Mathis, are coming together on a Zoom call to rally financial support for Kamala Harris in the upcoming election. This event, scheduled for Wednesday at 3PM, will include around 40 other influential figures in the financial sector. Harris has seen a surge in momentum following President Joe Biden’s announcement that he will not seek re-election, with her campaign reporting a remarkable $100 million in pledged donations. Despite this support, pragmatic supporters of Harris are preparing for a close race against Republican candidate Donald Trump.
Sources involved in organizing the call revealed that there is a sense of urgency among participants, with many planning to donate significant amounts in the near future. The Wall Street support for Harris contrasts with notable Silicon Valley figures like Elon Musk, Marc Andreesen, and David Sacks, who have backed the Trump-Vance ticket. Musk, in particular, has pledged over a hundred million dollars to Trump’s campaign. While Harris is seen as standing for more regulation and higher taxes, she has garnered support for being perceived as stable and dependable compared to her running mate.
Despite the traditional support that Wall Street typically extends to Republican candidates, the unpredictable and impetuous nature of Trump has led many financial players to lean towards the moderate and predictable option represented by Harris. According to one fund manager, the preference for stability and predictability is driving Wall Street’s interest in supporting Harris in the upcoming election. Marc Lasry, a hedge fund manager and part owner of the Milwaukee Bucks, has been a key fundraiser for Democratic nominees in the past, hosting events for Hillary Clinton in 2016 and Barack Obama in 2012 with other prominent financiers from New York.
Lasry and Effron were part of Harris’ finance committee during her 2020 presidential campaign but switched their allegiance to Biden after Harris dropped out of the race. While there has been some uncertainty surrounding their commitment to fundraising for Biden in the current election cycle, other figures like Reid Hoffman have been vocal about their support for Harris. Hoffman, in particular, has pledged financial backing to Harris’s campaign and shifted his support from Biden to the vice president. The upcoming zoom call represents a coordinated effort by influential figures in the financial sector to rally support for Harris and mobilize resources for her election campaign.
As the race between Harris and Trump heats up, the financial and political landscape is shifting with key players from Wall Street and Silicon Valley throwing their support behind their preferred candidates. The financial support and endorsements from prominent figures in these sectors play a crucial role in shaping the narrative of the election and influencing voter perceptions. While Harris has garnered significant financial backing from influential Wall Street Democrats, she still faces a tough battle against Trump in the upcoming election. With both candidates preparing for a hotly contested race, the support and resources mobilized by figures from Wall Street and Silicon Valley will undoubtedly play a significant role in shaping the outcome of the election.
