Billionaire Reid Hoffman Warns of Trump Retaliation for Backing Kamala Harris

Billionaire and LinkedIn co-founder Reid Hoffman has voiced concerns about potential retaliation from President-elect Donald Trump due to his support for Vice President Kamala Harris's presidential campaign.

Hoffman, a prominent backer of Harris, stated on Monday’s episode of The Diary of a CEO podcast, hosted by British entrepreneur Steven Bartlett, that he believes there is a "greater than 50 percent" chance Trump will target him.

“I think that there’s a greater than 50 percent chance that there will be repercussions from a misdirection and corruption of the institutions of state to respond to my having tried to help Harris get elected,” Hoffman said during the podcast.

His remarks highlight his belief that Trump could use federal institutions, like the IRS, to target his business interests.

Hoffman was one of Vice President Harris’s most vocal supporters during her campaign, even joining a coalition of entrepreneurs and billionaires in the “Business Leaders for Harris” group.

The group encouraged financial and strategic support for Harris’s White House bid. Hoffman was also a key donor for President Biden’s 2020 presidential campaign, further cementing his role as a major player in Democratic fundraising and advocacy.

Now, Hoffman says he’s bracing for possible repercussions. Among the potential actions he expects from Trump are IRS audits and behind-the-scenes phone calls aimed at disrupting his business activities. Hoffman described such tactics as “undemocratic and un-American.”

“It could get much worse, but I don’t really want to speculate on it because I don’t want to give anybody any ideas,” Hoffman added, indicating that the scope of possible retaliation could extend beyond financial or regulatory measures.

Hoffman also revealed that other business leaders have privately expressed support for his decision to publicly back Harris, but many of them refrained from speaking out due to fear of retaliation from Trump. He believes that Trump’s track record of threatening personal and political retribution made many of his peers cautious about openly supporting Democratic candidates.

“Part of the reason why I think fewer people were public about it this cycle was because President Trump was threatening personal and political retaliation, and so you had to have a certain degree of courage to stand up — and courage in the public area,” Hoffman said.

This statement underscores how Trump’s perceived tactics of intimidation may have influenced corporate leaders’ political silence during the election.

In response to Hoffman’s remarks, Trump’s spokesperson Karoline Leavitt issued a statement refuting the claims. She asserted that Trump would serve all Americans, regardless of whether they voted for him or not, and aimed to unify the country.

“President Trump will serve ALL Americans, even those who did not vote for him in the election. He will unify the country through success,” Leavitt told The Hill.

Hoffman’s comments add to ongoing concerns about Trump's potential use of presidential power for personal or political vendettas.

Throughout his political career, Trump has been accused of using government institutions like the Department of Justice to pursue political opponents, a claim his critics say undermines democratic norms. While Trump has repeatedly denied such allegations, critics like Hoffman remain skeptical.

As Trump prepares to take office, prominent figures in the business and political world may be watching closely to see if these fears materialize.

Hoffman's public statements are a stark reminder of the unease some members of the business community feel about potential retaliation, especially when they choose to stand up against him or his policies.