Business leaders speak out about Trump guilty verdict, with one immediately donating $300K

Business leaders sounded off following former President Trump’s conviction in his New York criminal trial.

Billionaire Elon Musk and other mega-wealthy Americans threw their support behind Trump after the verdict came down on Thursday, with one donating $300,000 alone.

“I just donated $300k to Trump. I’m prepared to lose friends. Here’s why,” Sequoia founder Shaun Maguire wrote in an extended post on X.

“Back in 2016 I had drunk the media Kool-Aid and was scared out of my mind about Trump. As such I donated to Hilary Clinton’s campaign and voted for her. By 2020 I was disillusioned and didn’t vote – I didn’t like either option. Now, in 2024, I believe this is one of the most important elections of my lifetime, and I’m supporting Trump,” he added.

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Musk responded to Maguire on social media, saying simply, “I think you’re right.”

Musk also responded to criticism of the ruling, arguing that Trump’s conviction caused “great damage” to the U.S. justice system.

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“Indeed, great damage was done today to the public’s faith in the American legal system. If a former President can be criminally convicted over such a trivial matter – motivated by politics, rather than justice – then anyone is at risk of a similar fate,” he wrote.

Craft Ventures executive David Sacks described Maguire’s donation as an “act of courage.” He argued that Trump has “a lot of supporters in Silicon Valley” but “many are just afraid to admit it.”

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“With each act of courage, like this one, the dam begins to break,” he added.

Craft Ventures executive David Sacks described Sequoia founder Shaun Maguire’s donation as an “act of courage.” He argued that Trump has “a lot of supporters in Silicon Valley” but said “many are just afraid to admit it.” (Robert Perry/Getty Images / Getty Images)

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Trump himself described the trial’s verdict as a “disgrace” on Thursday. He is expected to appeal the ruling.