US companies preparing for potential Republican defeat in November elections — newspaper

NEW YORK, August 28. /TASS/. US companies with close ties to President Donald Trump are trying to curry favor with the Democratic Party ahead of the November midterm elections for the US Congress, The Wall Street Journal reported, citing sources.

According to the newspaper, major technology companies that have made large donations to Trump’s projects fear becoming targets of congressional investigations and legal prosecutions if the Republican Party loses its majority in the House of Representatives after the elections. Meta (designated as an extremist organization and banned in Russia) is allocating significant sums to the Democrats to offset the millions of dollars provided to the White House for the construction of a ballroom and the implementation of other Republican initiatives, the newspaper noted.

Paramount Skydance and the Kalshi online prediction platform are hiring former aides to Democratic representatives. Several companies, including Palantir, are discussing the possibility of their representatives being summoned to congressional hearings. The OpenAI tech giant hosted dinners in Washington this summer to which it invited Democratic lawmakers. The company’s CEO Sam Altman, who is trying to improve relations with the Democratic Party, attended these events as well.

At the same time, companies realize that Trump will remain in office for more than two years, the newspaper pointed out. Some businesses are afraid of getting too close to the Democrats, while others are sticking to their course and rushing to close major deals before the midterm elections.

In late July, The Wall Street Journal reported that Trump had raised more than $800 million from major American companies for his nonprofit projects, including the construction of a ballroom at the White House.