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A new wave of enthusiasm is emerging for former President Trump among VCs and business leaders across America. While some (or much) of this may be simply reading tea leaves and staying nimble, it's worth noting that many former Democrat defenders are now on team Trump.

It doesn't take a crystal ball to see how disastrous economic policies (Bidenomics), failed foreign policies (Ukraine), a chaotic southern border, lawless cities, and the weaponization of the judicial system against political opponents are all contributing to sliding support for the left. And of course, Silicon Valley’s political elites just want stability and prosperity – not this uncertainty and inflation delivered under Biden. 

To that end, famed investor David Sacks, who previously gave $33,400 to Hillary Clinton's 2016 campaign and, more recently, backed Robert F. Kennedy Jr. and Ron DeSantis, joined the growing list of notable money managers who have gone 'all-in' by endorsing President Trump. 

According to Bloomberg, Sacks will host a $300,000-a-head fundraiser for the former president at his home in San Francisco’s Pacific Heights neighborhood. 

On Thursday night, Sacks took to X, outlining why he's supporting Trump in the upcoming presidential elections in November.

"I am giving my endorsement to our 45th President, Donald J. Trump, to be our 47th president. My reasons rest on four main issues that I think are vital to American prosperity, security, and stability – issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back," Sacks wrote on X. 

Here's the rest of Sacks' explanation for why he is now backing Trump:

The common thread among these investor elites in their support of Trump is a desire for peace and stability to return, as they're fed up with Biden's chaos – with Sacks' support for Trump coming days after Sequoia founder Shaun Maguire wrote on X, "I Just Donated $300k To Trump."

Meanwhile, hedge fund billionaire Bill Ackman's support of Trump appears to have strengthened in recent weeks, agreeing with Sacks for what he suggested was an "important read."

Also, Elon Musk.

Last month, Blackstone CEO Steve Schwarzman expressed his support Trump:

In short, Silicon Valley investors and Wall Streeters are no longer hiding in their mansions—afraid of commenting on or backing Trump—mainly because the era of canceling is winding down.

We suspect more notable investors will pledge their support for Trump ahead of the elections as the nation peacefully revolts against the current regime in the White House.