On January 6, 2021, the world watched in disbelief as a faction of domestic extremists, spurred on by President Trump and his allies, invaded the Capitol building, disrupting legislative proceedings. In the aftermath, these individuals are facing repercussions for their actions, and notably, Trump is experiencing a significant withdrawal of support from corporate America.
Numerous well-known companies are distancing themselves from Trump and his associates. Though this action comes too late to undo the damage done to the Capitol and the democratic process, it highlights a notable change in public sentiment. As Stephanie Ruhle of NBC News pointed out on Twitter, corporations are acutely aware of public opinion and are now taking a stand against Republicans who refused to certify the election results.
The corporate backlash began with Twitter suspending Trump’s account and ultimately banning him to prevent further incitement of violence. Following suit, Facebook and Instagram blocked Trump, while other platforms like Snapchat, YouTube, and TikTok took similar actions, effectively silencing him.
In the realm of commerce, companies like Shopify have removed stores associated with Trump, and PayPal has shut down fundraising accounts linked to his supporters. Stripe’s decision to stop processing payments for Trump’s campaign website is particularly significant, cutting off a vital source of small-dollar donations.
The corporate disengagement isn’t limited to tech giants. The PGA of America has canceled its agreement to host the 2022 PGA Championship at Trump Bedminster. Major players in various industries, including Marriott International, AirBnB, and Blue Cross, have also pledged to halt donations to Republican lawmakers who objected to the election certification.
Financial institutions like Goldman Sachs and JPMorgan Chase have announced a temporary suspension of political contributions to both parties. In internal communications, Citi’s global government affairs head emphasized that they would not support candidates who disregard the rule of law. Similarly, companies like Ford and Microsoft are pausing their political donations to reassess their strategies.
Trump’s allies are not escaping the backlash either. The far-right social media platform Parler has been removed from app stores and web services, leaving it offline for now. Additionally, Simon & Schuster canceled a book deal with Senator Josh Hawley, and Hallmark has retracted support for him and other senators who opposed the election certification.
This wave of corporate accountability signals a shift in how businesses are approaching political affiliations. As Lee Newman, CEO of MullenLowe U.S., noted, corporate America is beginning to recognize that silence equates to complicity. Some companies are motivated by a desire to align with public values, while others respond out of fear of backlash.
Ultimately, the corporate response, though delayed, is a crucial indicator of a collective repudiation of Trump and the dangerous rhetoric associated with his presidency. This reckoning, while overdue, marks a significant moment in corporate responsibility.
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Summary:
Corporate America has begun to sever ties with Trump and his allies in response to the January 6 Capitol attack. Major companies, including financial institutions and tech platforms, are distancing themselves from Trump, reflecting a shift in public sentiment. This corporate reckoning, while overdue, marks a significant repudiation of the president’s rhetoric and actions.