James Murdoch, Mark Cuban and dozens of other business leaders endorse Kamala Harris for president

By CNN Newsource

Published September 6, 2024 10:04 AM

By Liam Reilly and Matt Egan, CNN

(CNN) — Dozens of business leaders are throwing their weight behind Vice President Kamala Harris, saying she is the stronger candidate for the American economy and the future of democracy.

In a three-page letter, a group of 88 business leaders — including high-profile current and former executives from major public companies across tech, media, and finance — emphasized that they believe a Harris administration can better nurture the private sector.

“Her election is the best way to support the continued strength, security, and reliability of our democracy and economy,” the open letter, which was first shared with CNBC, reads.

The signees include notable executives such as James Murdoch, Mark Cuban and LinkedIn billionaire Reid Hoffman. The endorsements underscore the support Harris has not only in Silicon Valley, a traditional Democratic stronghold, but in some corners on Wall Street and at some consumer-facing companies.

The business leaders argued in the letter that as vice president, Harris advanced “actions to spur business investment in the United States and ensure American businesses can compete and win in the global market.”

“She will continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment, and she will strive to give every American the opportunity to pursue the American dream,” the letter reads.

The signees include high-profile executives, including James Murdoch, the former 21st Century Fox CEO and son of Rupert Murdoch; Michael Lynton, the Snap chairman; Jeremy Stoppelman, the Yelp chief executive; Hoffman, the former LinkedIn chief executive; Jeff Lawson, the Twilio co-founder; Laurene Powell Jobs, the Emerson Collective chief executive; Mark Cuban, the entrepreneur and “Shark Tank” host; Peter Chernin, the TCG founder and former Fox chief operating officer; and Jeffrey Katzenberg, the Wndr founder and managing partner and former Walt Disney Studios chairman.

On the campaign trail, Harris has positioned herself as perhaps friendlier to business than President Joe Biden. She recently outlined her economy policy platform, which includes tax relief for small businesses. Harris also proposed increasing the long-term capital gains tax rate to 28% for wealthy Americans, a departure from Biden’s 2025 budget, which suggested an even higher rate.

Trump has gained the support of a number of CEOs, too, including some prominent names in tech – most notably Elon Musk, who endorsed Trump in July. David Sacks, the billionaire tech investor, co-hosted a Trump fundraiser in June at his San Francisco home and spoke at the Republican National Convention on Monday. Other contributors to America PAC include the Winklevoss twins, Doug Leone of Sequoia Capital and Palantir co-founder Joe Lonsdale, according to Federal Election Commission filings. And venture capitalist Peter Thiel is a Trump supporter.

The letter is a vote of confidence for Harris as she and former President Donald Trump appear neck and neck ahead of the November election. The endorsement also buoys Harris ahead of the September 10 ABC presidential debate.