'Desperate and panicked': Yale business expert Jeffrey Sonnenfeld sparks debate as he demolishes Trump's CEO support narrative

WASHINGTON, DC: Jeffrey Sonnenfeld, president of the Yale Chief Executive Leadership Institute, has ignited a heated debate by challenging the Republican narrative that Donald Trump is regaining the support of America's CEOs ahead of the 2024 presidential election, as per HuffPost.

In an essay for The New York Times titled 'I Know What America’s Leading CEOs Really Think Of Donald Trump', Sonnenfeld dismantles the notion that Trump is experiencing a resurgence of corporate backing.

Jeffrey Sonnenfeld dismantles Donald Trump's CEO support narrative in New York Times essay

"They didn’t flock to him before, and they certainly aren’t flocking to him now," he wrote, emphasizing that Trump "continues to suffer from the lowest level of corporate support in the history of the Republican Party."

Prominent financiers such as Steve Schwarzman and David Sacks, who have expressed support for Trump, are exceptions rather than the rule, Sonnenfeld argued.

The most telling evidence of corporate America's hesitation, according to Sonnenfeld, is the lack of financial support from chief executives, as "not a single Fortune 100 chief executive has donated to the candidate so far this year."

Sonnenfeld, drawing from his extensive interactions with business leaders, suggested that while CEOs may have reservations about a second term for Biden, their apprehension towards Trump is far more pronounced.

"Chief executives are not protectionist, isolationist, or xenophobic, and they believe in investing where there is the rule of law, not the law of rulers," he explained.

This sentiment was reflected in Trump’s recent meeting with CEOs at the Business Roundtable's quarterly gathering. According to a report by CNBC, Trump struggled to win over the business leaders, with several attendees describing him as "meandering" and unable to maintain a "straight" narrative.

Steven Cheung, communications director for Trump’s campaign, disputed this portrayal, asserting that Trump was "warmly received" and praised for his policies on deregulation and tax cuts.

Sonnenfeld acknowledged that Biden has faced criticism from big business for his aggressive antitrust stance and "misguided attacks on corporate greed."

However, he noted that Biden also has considerable support from CEOs due to "investments in infrastructure to rebuild highways and bridges, which will help reduce supply chain disruptions; government support for domestic chip making and electric vehicle production; record corporate profits and exuberant financial markets burying fears of a widely anticipated recession."

Jeffrey Sonnenfeld's essay sparks divided reactions online

The public reaction to Sonnenfeld's essay was swift and divided, with many taking to social media to voice their opinions. One user on Facebook commented, "Bottom line is his method is divide and conquer! Even if it tears up the country! Not something most CEOs are keen on."

Another user observed, "Not a single Fortune 100 chief executive created an account or advertises on Truth Social. That tells a lot." One user stated, "Most CEOs are smart enough to see Trump for who he is and that to support him would do more harm than good," while another remarked, "No one in their right mind would support this vile POS."

However, there were also defenders of Trump, with one user on X criticizing Sonnenfeld and academics in general, saying, "Profs know nothing these days." Another user wrote, "OMG! They are so desperate they will say anything no matter how ridiculous!"

One user posted, "Leftwing extremists are desperate and panicked. Power to the people." Lastly, a user commented, "Self-proclaimed professor bubbling nonsense."

 

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