Business

Tech leaders show delight at Trump victory

Intercom boss Eoghan McCabe among those expressing joy at outcome of US election

US presidential winner Donald Trump and Elon Musk: Big tech always follows the money and the power. Photograph: Doug Mills/New York Times
US presidential winner Donald Trump and Elon Musk: Big tech always follows the money and the power. Photograph: Doug Mills/New York Times
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Cantillon
Thu Nov 07 2024 - 05:36

The news that Donald Trump had won another term as US president was still sinking in when thoughts began to turn to how it would hit closer to home.

But while some commentators mulled the impact on Irish transatlantic trade and the potential hit to corporation tax receipts in the future, some Irish business figures have been celebrating.

Intercom boss Eoghan McCabe, who shifted his political focus from Robert F Kennedy jnr to Trump in recent months, was taking his recent US citizen status to heart. “America is awesome”, he posted on the Elon Musk-owned social media platform X. “Democracy reigns.” McCabe followed it up with a repost “One side had one. One didn’t. Fun won.”

[ Intercom boss wants ‘aggression on all fronts’ in €87m AI investment ]

McCabe had previously attended a fundraiser for Trump. One social media post pictured him with the Republican presidential candidate.

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There was little reaction from his Intercom co-founders Des Traynor and Ciaran Lee, at least publicly. But McCabe is not an outlier in his support of Trump; a number of other high-profile tech executives had come out to support him, including Musk and venture capital billionaires Marc Andreesen and Ben Horowitz. Though if Trumps claims are to be believed, there are plenty more willing to cosy up to him to gain favour – as long as it is not in public.

[ What the EU fears most from a second Donald Trump term ]

It is a timely reminder that big tech is no different to any big business – it will follow the money and the power. It remains to be seen how much fun is in store for the Irish economy if Trump’s policies on tariffs and corporation tax are implemented.

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