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Global business leaders react to Donald Trump’s election victory

Michael Shulman
Global business leaders react to Donald Trump’s stunning election victory
NEW YORK, NY – NOVEMBER 09: Republican president-elect Donald Trump delivers his acceptance speech during his election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City. (Photo by Spencer Platt/Getty Images)

It was an election victory that stunned many in the early morning hours on Wednesday.

As the results came in, U.S. stock futures and Asian shares suffered steep losses.

And when president-elect Donald Trump’s surprise win became clear, many business leaders from around the world offered their assessment – some good, some bad.

Billionaire investor Mark Cuban, who is the owner of the Dallas and backed Democratic candidate Hillary Clinton, tweeted that Trump deserves “a chance.”

Jack Ma, the founder of Alibaba, told CNN Money that he doesn’t “fear” a Trump presidency, but stressed that China and the U.S. need to work together.

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“I think a healthy and positive China-U.S. relationship is so critical, especially this century,” he said.

“Number one and number two in the world if they work together, solve lots of problems, poverty disease, environment. But if they don’t work with each other, it’s going to be a disaster.”

Richard Branson, the founder of Virgin, offered a stark assessment of the campaign and warned of the tests that Americans could face going forward.

“This election has undoubtedly caused lasting damage, both to America’s collective psyche and to the political will of its leaders to collaborate,” he wrote on Virgin’s website.

“But there is much to be done: to protect democratic processes, to stand up to intolerance, and to support each other in these challenging times.”

Stewart Butterfield, the cofounder of Slack and Flickr, was somber but said America needs to move “forward.”

Shervin Pishevar, cofounder of Sherpa and Hyperloop One, submitted his resignation from the William Fulbright Foreign Scholarship Board and announced that he funding a campaign for California to become to separate from the U.S.

Peter Thiel, cofounder of PayPal and Trump backer, offered his congratulations to Trump.

“He has an awesomely difficult task, since it is long past time for us to face up to our country’s problems,” he told Business Insider.

“We’re going to need all hands on deck.”

Several prominent Canadian entrepreneurs also chimed in.

Former “Dragons’ Den” panelist Arlene Dickinson said Canadians could take advantage of the results, but said it spelled disaster for American minorities.

Dickinson’s former cast mate Kevin O’Leary, who has drawn comparisons to Trump and has been rumoured to be considering a Conservative leadership bid, said there were “three losers” on Tuesday.

Lord Michael Ashcroft, businessman and member of the British House of Lords, told CNN Money that he was optimistic about a Trump presidency.

“I am quietly confident that President Trump will be a far better leader than many people believe,” he said.

Sallie Krawcheck, the former president of the Global Wealth & Investment Management division of Bank of America, reflected on America’s to decision to not elect its first female president.

Akbar Al Baker, CEO of Qatar Airways, told CNN Money that Trump’s campaign rhetoric was simply political posturing.

“I have always said that the rhetoric that surrounded Mr. Trump’s campaign with respect to our region is only political in nature, and I am certain that the road ahead will clearly demonstrate that Qatar and the United States have enjoyed a long standing partnership and are close allies,” he said.