Sequoia Capital’s Leone Renounces Trump After Backing Campaign

Doug Leone, a billionaire venture capitalist at Sequoia Capital, said he’s dropping support of Donald Trump, joining a growing list of business leaders condemning the president for stoking deadly riots at the U.S. Capitol.

“After last week’s horrific events, President Trump lost many of his supporters, including me,” Leone wrote in an email seen by Bloomberg. “The actions of the president and other rally speakers were responsible for inciting the rioters.”

The venture capitalist and his wife donated to Trump’s reelection campaign and stood as rare prominent backers in left-leaning Silicon Valley. Leone’s White House ties came ...