Billionaire business leaders who want bragging rights usually flock to the World Economic Forum summit in Davos, Switzerland — but this year it’s being overshadowed by Donald Trump’s inauguration.
The Swiss forum kicks off on the same day the 47th president will be sworn in, Jan. 20, and regulars including Meta’s Mark Zuckerberg, OpenAI’s Sam Altman, and Uber’s Dara Khosrowshahi will all be in Washington, DC for Trump, according to insiders.
Sources close to the new administration say it’s an indication political events — and President Trump’s actions — are far more significant to US businesses and leaders than anything in the Swiss Alps could be.
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The inauguration of Donald Trump — shown here being sworn in the last time he was president in 2017 — is overshadowing this year’s World Economic Forum, where global elites meet each year. AFP via Getty Images“It’s unfortunate timing for Davos,” one source said of the event, which runs until Jan. 24. “If you’re a business leader, your time is better spent at the receptions meeting the people who will drive policy in the US, where you are talking about business and trade and ripple effects across the pond.”
A well-placed venture capitalist helping craft Trump’s tech policy told NYNext that for the first time in years, “I don’t know anyone going to Davos.”
Davos attracts important businesspeople, lawmakers, presidents and policy makers from around the globe to debate the largest problems humanity faces, but it is often labelled elitist, too woke and a place where there is much talk but little action.
“Davos is an irrelevant, elitist money grab,” angel investor and co-host of the All-In podcast Jason Calacanis told NYNext. “Builders don’t waste time and money on virtual signaling nonsense like that.”
CEOs are instead betting time with Trump, 78, at the inauguration will be better for business.
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On January 20, some of the world’s most powerful leaders and wealthiest CEOs will descend on the small ski village of Davos, Switzerland, pictured Jan. 3. GIAN EHRENZELLER/EPA-EFE/Shutterstock
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Tech billionaires like Mark Zuckerberg are donating to President Trump’s inaugural fund and attending his swearing in ceremony. Bloomberg via Getty ImagesSince Trump’s election last November, CEOs have been falling over themselves to win him over — some even after years of antagonizing the Republican leader.
Apple CEO Tim Cook, Microsoft CEO Satya Nadella, and Google CEO Sundar Pichai have each donated $1 million to the Inaugural fund in an effort to show new support for Trump and to get themselves plugged into the new administration.
So many people are eager to donate the incoming president has raised a record $170 million — almost triple the $62 million Joe Biden raised for his inaugural fund.
Many of these companies, including Amazon and Uber, are also hosting parties around Jan. 20th in an effor