Sir Martin Sorrell: Trump victory is “a second Brexit that leaves many very surprised, including the markets and me”
Sir Martin Sorrell, the chief executive of economic bellwether WPP, has described Donald Trump’s election as “a second Brexit that leaves many very surprised, including the markets and me”.
Sorrell, whose wife Cristiana Falcone Sorrell gave birth to their daughter, Bianca Eva Sarah, on election day in New York, admitted it will take a “ significant amount of time to assess the implications beyond the short term”.
Read more: Trump's victory is a good result for the US – and a great result for the UK
In a statement sent to City PM, he said: “Increased levels of uncertainty will mean more hesitation to make important decisions in the short term, both by people and governments. But it may accelerate implementation of helpful reforms in the medium term to reduce uncertainty and stimulate investment as a result.
Clearly immigration, trade and terrorism were key issues that swayed electoral opinion in a very significant way, just as they did in the UK, and probably will in the European referenda and elections to come.
There will now be a lot of reassessment, including of polling techniques. Electorates at times like these clearly don't like to be told how they're going to vote, especially by the media and other elites.
Sorrell added: “One unsurprising event – Baby Sorrell was born on election day in New York. A welcome to a rollercoaster world.”
In an interview in March, Sorrell suggested Trump should not be underestimated and said what he would mean for business was unclear.
Read more: WPP chief and Remain campaigner Martin Sorrell wants second EU vote
He told the Media Focus podcast:
I don't underestimate Trump. And Trump's daughter, Ivanka, who I know a little bit, is superb… Any man that can produce a daughter like that hasn't done everything wrong…
We don't know what Trump stands for… from a business point of view, who knows?