Venture capitalist and Silicon Valley entrepreneur David Sacks, who recently held a fund-raiser for presumptive Republican candidate Donald Trump in San Francisco, highlighted a pointer that bodes well for the former president.
What Happened: Sacks weighed in on the election results from Europe and their implications for the U.S. after a CNBC host pointed to a slew of European countries such as Belgium Netherlands, Germany, France, Austria, Greece and Italy giving a thumbs up to far right-wingers.
In the elections held in Belgium on Sunday, the right-wing nationalist New Flemish Alliance retained its first spot, with an expected 22% of the votes, relegating Prime Minister Alexander De Croo's liberal party to the sidelines, AP reported. Vlaams Belang party, which is far right in its ideology, will likely emerge as the dominant force in the political arena in the Benelux country.
In the European Union parliamentary elections, Germany, France, and Austria saw far-right parties gaining solid ground, handing down crushing blows to the parties of incumbent leaders such as German Chancellor Olaf Scholz, French President Emmanuel Macron and Austrian Chancellor Karl Nehammer, Al Jazeera reported.
The European Parliamentary elections were held across 27 EU member states from June 6-9.
Commenting on the development, Sacks said, “This could be a harbinger of things to come in the U.S.” The issues in the U.S. are similar to the main electoral issues in Europe, he said. Voters on either side of the Atlantic are worried about open borders, inflation, and fatigue over the Ukraine war, he said.
“This does not bode well for President [Joe] Biden,” Sachs said. He noted that Trump won in 2016 when the U.S. presidential election was held after Brexit in June of the same year. “These June parliamentary elections in Europe could be a harbinger for Trump 2 in the United States,” he said.
Why It’s Important: Despite Trump’s criminal indictment which could result in the former president serving a jail term, voters continue to back him. Most nationwide and state-wise opinion polls suggest the former president and his successor Biden are running neck-on-neck.
Even if there was lead, it was only slender, well within the poll’s margin of error.
The results of the Quinnipiac University poll of registered voters in Georgia released earlier this month showed the economy (29%) as the top election issue followed by the preservation of democracy (23%) and immigration (14%).
Billionaires and Silicon Valley entrepreneurs have mostly pledged allegiance to Trump in recent times. Former White House Director Anthony Scaramucci said in a podcast last week that he sees the gravitation toward Trump as a transactional move that could pose a danger to them ultimately.
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