Stephen Schwarzman, the CEO and co-founder of Blackstone, announced his support for former President Donald Trump in the 2024 election, after previously distancing himself from Trump. Schwarzman cited concerns about the country’s economic, immigration, and foreign policies as reasons for his decision, stating that he believed the country was heading in the wrong direction. He also expressed his support for Republican Senate candidates and other Republicans on the ticket. Schwarzman, who briefly served as chairman of Trump’s Strategic and Policy Forum, highlighted the rise of antisemitism as an issue that drove his urgency in focusing on the upcoming elections.
Schwarzman, who co-founded the Blackstone private equity firm in 1985 and is worth an estimated $39 billion, had previously spoken out against the idea of Trump running for president again in 2022. He stated that he believed it was time for the Republican Party to look to new leaders who are focused on the present and future, rather than the past. Schwarzman indicated his intention to support a new generation of leaders in the presidential primaries. His change of heart in supporting Trump for 2024 reflects the shifting dynamics within the GOP as the party prepares for the next election cycle.
President Biden has faced criticism from Republicans, including Trump, for his response to antisemitism and anti-Israel protests on college campuses. Schwarzman’s decision to support Trump in 2024 may be influenced by his concerns about these issues. Big money GOP donors have been rallying behind Trump as he seeks to close the fundraising gap with the Biden campaign. Trump’s April fundraising numbers surpassed Biden’s for the first time this cycle, with a record-setting $50.5 million haul from a single event hosted by billionaire investor John Paulson. The support from wealthy donors like Schwarzman could give Trump a financial edge in the upcoming election.
Fox News Digital reached out to both the Trump and Biden campaigns for comment, but did not receive a response. The competition for fundraising dollars among potential vice president candidates for Trump has intensified as they seek to demonstrate their fundraising prowess and support for the former president. Trump’s recent fundraising success has been a point of pride for his campaign and could indicate a growing momentum behind his candidacy for 2024. The financial support from big money donors like Schwarzman could play a significant role in shaping the outcome of the upcoming election.
As the 2024 election cycle approaches, the political landscape within the GOP is evolving, with high-profile donors like Stephen Schwarzman throwing their support behind Trump. Schwarzman’s decision to back Trump after previously expressing reservations about his candidacy underscores the complexities within the Republican Party. Trump’s fundraising success and the support of wealthy donors are positioning him as a formidable contender for the presidential nomination. The upcoming primaries will test the strength of Trump’s support within the party and could determine the direction of the GOP in the years to come. Schwarzman’s endorsement may sway other donors and influencers to align with Trump, further solidifying his position as a leading candidate in the 2024 election.
