November 14, 2024
Billionaire investor and Trump supporter Bill Ackman took to social media today to express the business community’s excitement over President-elect Donald Trump’s victory in the 2024 election, citing positive reactions from business leaders, even those who did not vote for Trump. Ackman’s post on X (formerly Twitter) describes a wave of optimism among industry leaders who are hopeful for what they see as a pro-business administration with policies likely to stimulate growth and investment.
Ackman noted that many in the business world are eagerly anticipating a return to the “Trump economy,” a reference to the pre-pandemic years when the U.S. saw significant growth and a strong stock market. “The business community is giddy with excitement about the [Trump] administration,” Ackman wrote, adding that he is hearing positive feedback from across the business sector.
Confidence Drives Growth
According to Ackman, business confidence acts as a “self-fulfilling prophecy” that could spur new investments, boost the stock market, and reduce the cost of capital, creating what he described as a “virtuous cycle” of growth. He highlighted a predicted surge in merger and acquisition (M&A) activity as companies take advantage of what they expect will be a more favorable regulatory environment under Trump’s administration.
“M&A will drive efficiency, greater profitability, and growth,” Ackman explained. He pointed out that increased investment activity and capital returns to investors could create new opportunities across industries. Ackman also commented on the administration’s likely impact on deregulation, predicting that a reduced regulatory burden would make the U.S. a more efficient and business-friendly environment.
Global Investments Expected to Flow into U.S.
In addition to increased domestic business confidence, Ackman said he’s hearing from foreign companies eager to establish a U.S. presence. “Non-U.S. companies are desperate to create a presence on U.S. soil,” Ackman wrote, adding that some international firms fear missing out on the world’s most important economy amid discussions about potential tariffs. Ackman predicted these companies would invest heavily in the U.S. to avoid trade barriers, build factories, and stimulate job creation.
A “Golden Age” on the Horizon?
With hopes running high, Ackman suggested the U.S. may be poised for a “golden age,” a term Trump has used to describe his economic vision for the country. The incoming administration has outlined a series of economic goals dubbed the “Three Threes” by Scott Bessent, a top contender for Trump’s Treasury Secretary. These goals include reducing the federal budget deficit to 3% of GDP by 2028, achieving a 3% annual growth rate, and producing three million barrels of oil daily.
The Trump administration’s goals also prioritize combatting inflation, reducing taxes, expanding American manufacturing, and rebalancing trade through tariffs. Bessent describes these initiatives as intertwined priorities that, if executed carefully, could have lasting economic impacts.
High Expectations for the Second Term
The anticipated policy directions from Trump’s team seem to align with Ackman’s vision of a robust economic recovery fueled by lower taxes, a focus on American energy production, and a welcoming environment for business investments. With the business community already voicing confidence, the stage is set for what Ackman and others hope will be a period of revitalized growth and expansion across the U.S. economy.
Sources:
- Ackman, Bill. Post on X, November 2024.
- “Billionaire Trump Supporter Bill Ackman on Trump’s Economic Impact.” Breitbart News, November 2024.
- “Scott Bessent and the ‘Three Threes’ Economic Plan.” America First Policy Institute, November 2024.
