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How business leaders and billionaires are responding to Biden dropping out of the presidential race

<p class="ingestion featured-caption">President Joe Biden.Saul Loeb via AFP/Getty Images</p><ul class="summary-list"><li>Business leaders are reacting to Joe Biden's decision to drop his bid for a second term.</li><li>They include Elon Musk, Mark Cuban, Microsoft president Brad Smith and David Sacks.</li></ul><p>In yet another shocking turn in this year's presidential race, Joe Biden dropped out on Sunday and endorsed Vice President Kamala Harris as the Democratic nominee.</p><p>Recently, a number of prominent business leaders and <a target="_blank" class href="https://www.businessinsider.com/donald-trump-vcs-in-silicon-valley-2024-7">Silicon Valley investors</a> — among them <a target="_blank" class href="https://www.businessinsider.com/elon-musk-endorses-trump-after-pennsylvania-rally-incident-2024-7">Elon Musk</a>, <a target="_blank" class href="https://www.businessinsider.com/bill-ackman-endorses-trump-after-assassination-attempt-2024-7">Bill Ackman</a>, and <a target="_blank" class href="https://www.businessinsider.com/andreessen-horowitz-founders-explain-trump-support-over-biden-podcast-2024-7">Marc Andreessen and Ben Horowitz</a> — have publicly come out in support of Donald Trump.</p><p>Musk and Ackman announced their backing after <a target="_blank" class href="https://www.businessinsider.com/tech-ceos-business-leaders-react-trump-rally-shooting-2024-7">the former President was shot</a> in an assassination attempt, while the A16z founders Andreessen and Horowitz pointed to Trump's policies on cryptocurrency and taxes in a lengthy podcast.</p><p>Now that the race has been upended at the top of the ticket, here's how business leaders are reacting.</p>
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