• Business leaders have reacted to Donald Trump’s victory in the presidential election.
• Silicon Valley was politically divided in the run-up to the elections.
• Here’s what some of the most influential business people have to say about the election results.

Top business leaders, investors and philanthropists have reacted to Donald Trump’s victory in the presidential election.

Fox News called the race early Wednesday morning. Just under four hours later, projections come true CNN and other news organizations gave Trump the 270 Electoral College votes needed to win the presidency.

Throughout the campaign, Silicon Valley was divided over which candidate to support.

While Silicon Valley has historically leaned left, some of the biggest names in tech, including Tesla CEO Elon Musk and venture capitalist David Sacks, have tilted right this election season.

Still, 875 venture capitalists pledged to vote and donate to Harris through an initiative called VCsForKamala. A Business Insider analysis of publicly available FEC data found that VCs generally favored Democrats.

Some CEOs and executives have said Trump will better protect their business interests. Trump is expected to cut corporate taxes, extend the tax cuts from his first term — the largest of which targeted corporations and wealthy Americans — relax some regulations and raise rates.

Labor experts believe Trump could reverse the policy, making union membership easier and relaxing workplace safety rules.

Others, however, are nervous that Trump’s economic plans could be inflationary. Prices are up more than 20% from President Joe Biden’s first 45 months, which the administration has blamed on the pandemic and Russia’s invasion of Ukraine.

Economists from think tanks across the political spectrum have written that mass deportations and tariffs – which can range from 10% to 20% on most foreign goods – could increase inflation or hurt GDP.

Here’s what some of the richest and most influential business people have to say about the election results.