But last week seemed like a breaking point. Large companies could evidently tolerate working with Trump, despite his chauvinism, his flirtations with white nationalism and his claims of impunity, but the president’s apparent willingness to undermine democracy itself seemed a step too far.
“This thing was a little bit different. I mean, we had sedition and uprising in DC, ”said Jamie Dimon, chief executive of JPMorgan Chase. “No CEO I know tolerates this in any way or form. We shouldn’t have someone, you know, poisoning a crowd. “
The precipitation was fast. After the president urged his supporters to march to the Capitol, top executives have used their strongest language to date to repudiate Trump, and some of his longtime allies have moved away. Ken Langone, the billionaire co-founder of Home Depot and a fervent supporter of the president, resigned from Mr. Trump, telling CNBC, “I feel betrayed.”
Twitter, Facebook and YouTube banned or suspended Trump’s accounts. Amazon, Apple and Google have cut ties with Parler, a messaging app popular with its supporters.
Charles Schwab, the brokerage firm founded by a Republican who supported Trump, said he would shut down his political action committee entirely. And many companies, along with the United States Chamber of Commerce, sought to punish Trump’s supporters in Congress by depriving them of essential funds.
“For members of Congress who have been involved in helping to incite the riot and support the riot, there will undoubtedly be consequences,” said Ed Bastian, chief executive of Delta Air Lines.