The latest example: Rishi Sunak, former British Prime Minister, is joining Goldman Sachs. He will advise the bank's clients on macroeconomic and geopolitical issues, drawing on his "unique vision."
This type of career path is nothing new. Gerhard Schröder, German chancellor until 2005, joined the boards of several energy companies, including Gazprom, sparking an outcry. François Fillon is also linked to Russian companies, including Gazprom.
Nick Clegg, former British Deputy Prime Minister (2010-2015), has become Meta's head of global policy. He is the company's institutional face in Europe, particularly on regulatory and political issues.
David Cameron, British Prime Minister from 2010 to 2016, has joined Greensill Capital as an advisor. The scandal revealed that he used his political networks, including Rishi Sunak, to influence decisions in favor of the company.
In France, too, the trend is clear: at the end of Emmanuel Macron's first five-year term, over half of his ministers took on well paid private sector jobs.
Why such an acceleration?
Political expertise is first and foremost a network of contacts. Nicolas Sarkozy, for example, has been on the board of directors of Accor since 2017, helping to shape their international vision.
But it's not just a question of networking. A study published in the Journal of Financial and Quantitative Analysis shows that companies that hire former senior civil servants are more likely to win public contracts.
According to the latest EY survey of the main risks perceived by risk managers at major global banks, the most worrying threats—geopolitics, regulation, and operational resilience—are precisely those faced by political leaders. The profile of the latter is therefore becoming particularly attractive to the private sector.
An interconnected world
The Tech Transparency Project has revealed how Palantir, a big data company operating in the defense sector, has developed a strategy of massive influence. Its lobbying spending rose from $1m in 2015 to $5.8m. In comparison, Google spends $12.3m, Lockheed Martin $12.4m, and Northrop Grumman $8.8m. At least six people have moved between Palantir and the Pentagon's Chief Digital and Artificial Intelligence Office (CDAO), which is responsible for the Department of Defense's AI strategy.
After the November election, Donald Trump began poaching from Palantir to build his team. Jacob Helberg, a close associate of CEO Alex Karp, was appointed Assistant Secretary of State for Economic Growth, Energy, and the Environment.
To cite another strategic appointment, Gregory Barbaccia, formerly of Palantir, becomes federal chief information officer, overseeing a budget of $70bn.
Peter Thiel, co-founder of Palantir and Trump supporter, also played a key role in the rise of JD Vance, now vice president. He launched his career in venture capital before becoming his main financier during his senate campaign. In January, Peter Thiel hosted a private party in Washington to celebrate Trump's inauguration, with Zuckerberg (Meta) and Sam Altman (OpenAI) among the guests.
Revolving doors: a logic of power
Revolving doors are not an aberration, they are a mechanism. In a world where a political leader's words can cause a sector to lose billions in market capitalization, it is better to have them on your side. The line between politics and business is thinner than ever.
