Why Losing The Election Should Be Good For Trump’s Business | Billionaires React To Biden’s Election Victory

Plus: The Biden Presidency And The Economy: What You Need To Know Now

If history serves as any guide, then losing the presidency should help Donald Trump’s business. Bill and Hillary Clinton earned more than $240 million in the 15 years after they left the White House. George W. Bush’s favorability ratings nearly doubled after his presidency. Those precedents suggest Trump may be able to tap new streams of cash and reboot a battered brand once he’s out of office. Of course, he’ll also have to deal with legal troubles that could drag on for years.

Mind On Their Money

While President Trump has yet to admit defeat more than a week after election day, some of the world’s richest people congratulated Biden, publicly recognizing his historic presidential victory over the weekend. 

Meanwhile, as Biden and Trump began asking for contributions to support recount efforts, numerous billionaires made donations that were (at least in part) funneled to these recount accounts. 

Control of the Senate remains in the balance, to be determined in January by two Georgia runoffs. Still, even with a Republican-controlled Senate, President-elect Biden can push forward policy initiatives using executive orders and regulatory policy. Find out more about Biden’s list of day one actions. 

Under the Biden Presidency, trade is expected to become more predictable, a boon for business and “American competitiveness” Box CEO Aaron Levie wrote on Twitter this past weekend. However, a Republican-controlled Senate could put a damper on any swift trade moves from President-elect Biden.

Analysts from Goldman Sachs are now predicting a V-shape recovery under the Biden Administration—forecasting that economic growth will rebound more strongly than expected in the second quarter of 2021, despite projected GDP losses in the fourth and first quarters caused by a resurgence of Covid-19. 

The recent announcement that Pfizer’s vaccine candidate could be 90% effective in preventing transmission of the coronavirus sent stocks soaring. Still experts agree that the pharma giant's good news doesn’t mean the U.S. is out of the woods yet. These experts believe another federal stimulus package is still needed.  

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