Blackstone CEO Stephen Schwarzman, who previously distanced himself from Trump, has announced his support for the former president's 2024 campaign. Schwarzman expresses concerns over U.S. policies and the rise of antisemitism, which he believes Biden has not adequately addressed.
Billionaire investor and financier Stephen Schwarzman, who served as chairman of former President Trump's Strategic and Policy Forum during his first months in office, has announced his endorsement of Trump for the 2024 presidential race.
Schwarzman, who co-founded the private equity firm Blackstone in 1985 and boasts a net worth of approximately $39 billion, expressed concerns about the current economic, immigration, and foreign policies, claiming they are steering the country in the wrong direction.
"I share the concern of most Americans that our economic, immigration, and foreign policies are taking the country in the wrong direction," Schwarzman stated in a statement first reported by Axios.
Schwarzman added that the "dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency." He criticized President Biden's handling of anti-Israel protests on college campuses and his alleged lack of effort in combating antisemitism.
In 2022, Schwarzman voiced his opposition to Trump running for president again, suggesting that the GOP should seek a new generation of leaders. However, his recent endorsement indicates a shift in his stance.
Schwarzman's endorsement comes as Trump attempts to close the cash on hand gap with the Biden campaign. Big money GOP donors have been rallying around Trump, and in April, he surpassed Biden in monthly fundraising for the first time this cycle.
Schwarzman's decision to support Trump is a significant boost to the former president's campaign. His endorsement adds credibility to Trump's bid for the presidency and could potentially sway other wealthy donors to join his cause.
It remains to be seen how Schwarzman's endorsement will impact the outcome of the 2024 election. However, it is clear that a growing number of influential figures in the Republican Party are rallying behind Trump.
The Biden campaign and the Trump campaign have not yet commented on Schwarzman's endorsement.
