Intel Corporation (NASDAQ:INTC) CEO Cancels Fundraiser Initiative For Trump

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Intel Corporation (NASDAQ:INTC) CEO Brian Krzanich has canceled plans to host a fundraiser event for Republican presidential candidate Donald Trump.

The Intel executive had planned to host the event at his home this week, but he canceled the fundraiser after one of his company’s spokespersons was asked about the fundraiser by the New York Times. The latter reported that the firm’s spokesperson stated that the event would be a “full exchange of views.” The chip maker has not published any reasons for the cancellation, but Trump announced plans to hold a different rally to be held on the same evening in San Jose.

Krzanich has been under the spotlight for the financial support that he has been offering to the billionaire politician. The presidential candidate’s views on immigration stirred up controversy from minority groups. The Intel CEO’s support for the politician has been questioned especially because Krzanich has invested heavily in fostering diversity in his firm yet many believe Trump’s views speak a different message.

The chip manufacturer’s PAC which is fueled by contributions from the firm’s employees donated as much as $781,784 to political figures last year as indicated by Intel’s report for annual corporate responsibility. Roughly 55% of the contributions were to Republicans and their PACs while the rest of the funds were to Democrats.

Some of the high-profile leaders who received part of the Intel PAC funds include Marco Rubio, who received $5,000, former House Speaker John Boehner who received $10,000 and pro-life advocate Senator Mitch McConnell who received $1,000 among others. The company also donated to various Republican groups in 2015 including the Freedom Project where the Intel PAC donated $5,000. Despite the contributions to both sides, Intel seems to have spent more on the Democratic side. The CEO’s contributions to politicians are not regular and therefore his support for Trump raised some questions.

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