He has launched his presidential campaign on a platform of combating corporate malfeasance and cracking down on billionaires.
But in practice, Kamala Harris is seeking advice from the very big business leaders she claims to be furious at.
The vice president has been trying to woo captains of industry by inviting them to lunches and personally guided tours of the White House.
Among those who have heard from Harris lately is billionaire Mark Cuban, who has been involved in chains of text messages, calls and emails offering his advice on pharmaceutical issues. The Wall Street Journal information.
The Shark Tank investor has been vocal about his opposition to “pharmacy middlemen,” a stance Harris has subsequently echoed.
Kamala Harris has publicly criticized tax breaks for billionaires and pledged to tackle corporate greed, but privately she has been courting business leaders.
Cuban was among those present at a roundtable hosted by the vice president on the topic in March.
Unlike Joe Biden, the vice president has made efforts to cultivate a relationship with the American business sector through more than just formal meetings.
Sources told the Wall Street Journal that he had lunch with JP Morgan Chase CEO Jamie Dimon.
The two have remained in touch since then, according to people familiar with the matter, who reported that Dimon told associates she was “reasonable” and open to dialogue.
Dimon’s wife, Judy, was also present at a dinner with Harris, hosted by Peter Scher, a vice chairman of JPMorgan Chase, at her Maryland home, which took place just hours after Biden withdrew.
Harris herself has also hosted executives at the Vice President’s residence at the Naval Observatory.
Attendees included Visa CEO and Democrat Ryan McInerney, Motorola Solutions’ Greg Brown, a Republican, and CVS Health’s Karen Lynch.
The tactic has already paid off in terms of donations: Harris’s campaign raised nearly $2 million from 5,000 CEO donors.
Among those who have the vice president’s attention is Shark Tank investor and billionaire Mark Cuban.
This compares with just $91,000 from roughly 990 CEOs that Biden received in the final ten days before his withdrawal from the race.
Harris has criticized rival Donald Trump for promising tax breaks to billionaires.
But he recently backed a less pronounced increase in the top capital gains tax rate, breaking with Biden’s plans.
An adviser to Harris said that while she supports a minimum income tax on billionaires, she is open to rethinking tax structures in a different way than the president.
Her approach has reassured some business leaders, including Roger Hochschild, the former chief executive of Discover, who was among 100 CEOs who wrote a letter supporting Harris.
But Harris’s charm offensive has not been enough to calm the fears of some billionaires.
John Paulson, known for his lucrative bet against subprime mortgages in 2007, said Tuesday he would withdraw all his assets from the stock market if the Democratic candidate wins.
“I think if Harris were elected, I would take my money out of the market,” he said on Fox Business’s The Claman Countdown.
JP Morgan Chase CEO Jamie Dimon has reportedly kept in touch with Harris since the two had lunch earlier this year. His wife Judy (pictured) is a Harris supporter.
‘I would invest in cash and gold because I think the uncertainty about the plans they have outlined would create a lot of uncertainty in the markets and probably lower markets.’
The Paulson & Co. founder, whose estimated net worth is $3.8 billion, went on to describe how he believes Harris’ tax policies would scare away investors, leading to a “pretty rapid recession.”
The vice president also caused a stir earlier this year when she claimed to have rejected a life of wealth in favor of public service, despite having a combined net worth of $8 million with her husband Doug Emhoff.
The couple She owns a home in Los Angeles valued at $4.4 million and not only enjoys an annual salary of $235,100 as vice president, but sold her San Francisco apartment for $860,000 and the couple’s apartment in Washington, DC for $1.85 million.
They currently live in the vice president’s residence at the Naval Observatory, a 32-hectare campus. The 815-square-meter house has 33 rooms and a large swimming pool.
