How Israeli CEOs see the 2024 election shaping their future

As the 2024 US presidential election finally arrives, Israelis are increasingly aware of its potential implications for their economy and geopolitical stability. Leading voices in the Israeli business community, including CEOs and key consultants, have voiced their perspectives on how the election could shape the global financial landscape and bilateral relations between the United States and Israel.

The Jerusalem Post reached out to prominent figures from Israeli companies and the legal and consultancy sectors, who highlighted that while there is consensus that US-Israel relations are strong and resilient, the direction and dynamism of these ties could shift significantly depending on who wins. They foresee changes in financial policies that could influence global markets and Israeli business strategies, from tech investments to regulatory adjustments.

While some leaders believe that either candidate would uphold steadfast relations between the nations, there is an underlying sense that certain policies or strategic preferences from one candidate might foster deeper alliances or create opportunities for further economic cooperation. Their analysis suggests a period of both opportunity and caution as the Israeli business sector awaits the unfolding of US political events that could steer future economic partnerships and global market trends.

Uri Be'eri, Chairman of the Elliott Group and Co-Chairman of the Tel Aviv District at the Institute of Certified Public Accountants

The impact of the US elections on Israel can come from various directions. Firstly, Trump is perceived as being closer to Israeli positions, but it should be noted that he might prefer "cheaper" solutions and be more inclined to invest in diplomatic agreements like the Abraham Accords rather than financial support for ongoing wars.

Thus, in the short term, there is a good chance of security and economic encouragement from Trump's administration, but it should be considered that his interest lies in a diplomatic settlement.

Regarding Harris, it should be noted that she might exert economic and security pressures on us to advance her agenda and her perception of the Middle East crisis, its management, and its solutions. Concerning global economies, Trump's approach advocates for promoting a capitalist economy in the US, while Harris's approach is more progressive, including raising taxes and supporting weaker populations.

Regarding funds allocated to defense industries and their impact on defense industries in Israel, it seems that security tensions are expected in any scenario.

Avi Aflalo, CEO and co-founder of Simplex 3d

This election presents critical challenges and opportunities for the American economy, particularly for major cities like New York. The impact of federal leadership on infrastructure development, economic legislation, and support for entrepreneurs is profoundly significant. We see that expertise in three-dimensional modeling and artificial intelligence can enhance our ability to drive positive change. In the coming year, it’s important that we focus on promoting dialogue about economic growth and urban development, while keeping an open conversation about the various directions the country can take under the new leadership.

As the CEO of an Israeli tech company operating in the world’s largest real estate market in New York, I am proud to collaborate with the New York City government. Our platform can help advance the 'City of Yes' initiative, which aims to add hundreds of thousands of housing units to one of the world’s most densely populated and desirable cities. When Americans want to promote something, they do it big, and I believe both administrations will be proactive regarding the various issues that require significant decisions. We must seize these opportunities and discuss the growth and innovation that can emerge from it.

Regardless of the election outcome, the historical partnership between the United States and Israel is likely to remain strong. Both nations share common interests in security, innovation, and economic collaboration, which are essential in today's global landscape.

As an Israeli tech company, we recognize that political shifts can lead to changes in policy, but the enduring commitment to fostering innovation and supporting entrepreneurship will continue to benefit both countries. This environment encourages us to remain proactive in seeking collaborative opportunities that not only enhance our bilateral ties but also contribute to broader regional stability and growth.

David Yahalomi, CEO of the Fund for the Promotion and Development of Construction in Israel

There is no doubt the US presidential elections on November 5th have a decisive impact on Israel and the entire world—this time more than ever. The war between Russia and Ukraine, the October 7th conflict, and the alignment of the BRICS powers place the US before enormous international challenges, but simultaneously create a rare opportunity for the elected president to lead the Middle East and the international system toward a new world order.

A new world order that delivers an unequivocal and uncompromising message to states that sponsor and operate terrorism, particularly Iran, which seeks nuclear capabilities with mass destruction potential against Israel, the Middle East, and the world at large. This new order would restore economic stability, relying on reviving the manufacturing capabilities of the US and Western nations.

The conduct of the US president in the Middle East over the next four years, as Israel's strategic ally, will determine whether we move toward a clear victory over the terror coalition and the establishment of a new order in the Middle East, or face weakened deterrence, exposure to Israel's existential risks, and global instability.

We all hope that American democracy will wisely choose the most suitable president to lead the free world toward the necessary new world order.

Dr. Amit Serusi, strategic consultant and angel investor, who is an Israeli-born citizen residing in Philadelphia

The US election will impact Israel on two levels. First, from a security and defense standpoint: if Trump wins, he seems likely to be highly supportive of Israel. However, I am skeptical, as he often uses buzzwords to appeal to populist sentiments. On the other hand, Kamala Harris is perceived as softer than Trump in terms of support for Israel. Still, it's important to remember that she is part of the Biden administration, which has shown unprecedented support for Israel from day one.

From an economic standpoint, the two candidates offer different approaches. Broadly speaking, Trump leans more capitalist, while Harris leans more socialist. For Israeli companies, especially those with a presence in the US, Trump's approach could save money, particularly on taxes, allowing for further investment and growth. However, widening socioeconomic gaps in the US could weaken its economy, which would ultimately be unfavorable for Israel. A strong US is essential for Israel's interests.

Dr. Omer Nirhod, Attorney-at-Law and Doctor of Law

As a doctor of law who completed my doctorate in the US and currently represents thousands of investors with stakes in American investments, I believe that US financial markets have a global impact. This time, the US elections will affect Israel more than ever. The Israeli economy, entangled in a prolonged conflict, is now more sensitive than it has been in decades to pressure from the US administration. Today, the American government has substantial leverage over Israel’s defense capabilities and can enforce painful political compromises.

Economically, the elections will have significant ramifications, influencing interest rates, the state's ability to secure essential loans, military systems, and international influence. 

Both candidates have distinct stated policies regarding Israel; however, regardless of the outcome, the growing influence of the Muslim world both internationally and within the US will require the next president to navigate these pressures carefully, impacting Israeli decision-makers as well.

It is expected that whether Trump wins or, especially, if Harris prevails, Israel will face heavy pressure to resolve the regional conflict, potentially at the expense of progress on critical issues, such as the matter of the hostages.

Ziv Omid, CEO of Marom Group

The US elections are close, and not without reason. The issues at stake are significant, and the elected president will face the challenging task of working with the opposing side. From an Israeli perspective, I believe that any administration that takes office will continue to uphold the special bond that has been built over the years between the two nations, reaching a high point during the recent conflict. The US stood by us in an exceptional manner, and for that, it deserves our gratitude.

It is too early to determine how each administration would act towards Israel, but I believe that, given the warm words and the strategic importance they have attributed to Israel as well as to the Jewish community in the US, we will continue to see close cooperation as we have witnessed in the past.

Toni Cohen, CEO of Maccabident

Regardless of whether Donald Trump or Kamala Harris is elected, the economic and innovative relationship between the United States and Israel in the health tech sector is likely to remain strong. Both leaders are expected to support continued investments in Israeli startups, fostering collaborations between American and Israeli companies. There will likely be a shared emphasis on developing cutting-edge technologies, including artificial intelligence and digital health solutions. Furthermore, both administrations may prioritize partnerships that promote innovative health solutions and connect Israeli startups with larger American firms, facilitating fruitful collaborations. Overall, the trajectory of US-Israel relations will be pivotal in shaping the future landscape of innovation and investment in health technology, demonstrating a shared commitment to these critical areas.