LinkedIn co-founder Reid Hoffman takes U-turn on Donald Trump; says many billionaires supported him but feared …

LinkedIn co-founder Reid Hoffman has dramatically softened his stance on leaving the United States, days after reports suggested he might emigrate due to fears of potential retribution from President-elect Donald Trump.
In a recent podcast appearance on "The Diary of a CEO," Hoffman acknowledged a "greater than 50% chance" of facing repercussions for his vocal support of Vice President Kamala Harris's unsuccessful presidential campaign, but firmly stated he has no plans to leave the country.
Previously, anonymous sources told the New York Times that Hoffman was contemplating moving overseas, citing concerns about potential retaliation from Trump. The tech billionaire, who helped finance E. Jean Carroll's sexual assault lawsuits against Trump and donated at least $10 million to Harris's campaign, expressed specific anxieties about potential institutional revenge.
"I think that there will be repercussions from a misdirection and corruption of the institutions of state," Hoffman said. He speculated these might include IRS audits or strategic phone calls aimed at disrupting his business prospects, while emphasizing that any such actions would be "undemocratic and un-American."
Interestingly, despite his criticisms, Hoffman acknowledged potential upsides to Trump's presidency, noting that deregulation efforts could broadly benefit entrepreneurs. "I think they're going to reduce regulation across the board for all entrepreneurs, so I think that's helpful for entrepreneurship," he said.
The billionaire's comments come after nearly 90 top business executives, including himself, previously signed a letter endorsing Harris, praising her as "the best way to support the continued strength, security, and reliability of our democracy and economy."
Hoffman also revealed that many fellow billionaires privately supported his political stance but feared potential "penalties" if Trump won the election.