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Trump business allies start to distance themselves from him after


President Donald Trump looks on during a rally in support of Republican incumbent senators Kelly Loeffler and David Perdue ahead of a Senate runoff in Dalton, Georgia on January 4, 2021.

Mandel Ngan | AFP | Getty Images

After years of defending and sticking by him, several of President Donald Trump’s allies in the business world started to distance themselves from him after Wednesday’s deadly riot on Capitol Hill.

The pullback casts doubt on whether these business leaders will back him in the future – including whether he runs for president again in 2024.

“Bye, bye, Ted Cruz, Josh Hawley and Donald Trump,” one of the president’s top campaign bundlers said, also mentioning the two Republican senators who led objections to Joe Biden’s Electoral College victory. “He’s done,” the person added, referring to Trump.

A former White House official, who worked with business leaders while in the administration, was just as blunt when asked whether corporate figures would side with Trump after Wednesday’s riot, which the president incited.

After Wednesday, “who the hell is left?” this person said. The protests left at least four people dead and 50 police officers injured.

These people declined to be named out of a fear of retribution.

Marc Sumerlin, founder of Evenflow Marco and who recently turned down a chance to be on the Federal Reserve’s board of governors, blasted Trump in a note to his clients Thursday.

“A small man, unloved as a child and filled with raging self-hate, secured his place as the worst president in United States history yesterday by inciting insurrection against the U.S. constitutional government,” Sumerlin wrote in the note reviewed by CNBC. “He will be joined in the history books by two treasonous Senators, Cruz and Hawley, both former clerks of the Supreme Court.”

Sumerlin worked as an economic advisor under George W. Bush.

Some business leaders who have backed Trump have been quiet after the Capitol invasion. Representatives for the following Trump donors either declined to comment or did not return requests for comment: Shipping materials magnates Richard and Elizabeth Uihlein, investor John Paulson, investor Robert Mercer and casino mogul Sheldon Adelson. Tim Mellon, owner of Pan Am Systems, could not be reached.

After the riot on Wednesday, executives at private equity giant Apollo Global Management, which was founded by Trump ally Marc Rowan, sent a memo to staff condemning the attacks on the Capitol, a company spokeswoman told CNBC.

“The violence that occurred in Washington Wednesday was reprehensible and we strongly condemn it,” Joanna Rose, a spokeswoman for the investment firm, told CNBC.

She also pointed to an open letter signed by members of the Partnership for New York City, which called on Congress to accept the Electoral College results showing Biden had won the election. James Zelter, a co-president of Apollo, signed the letter.

Several of the executives who have criticized the president over the past 24 hours have either…



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