Key GOP Billionaire Megadonor Backs Trump Again

Former President Donald Trump has regained the support of a top Republican donor who previously said he would not support the Republican presumptive nominee. On Friday, Blackstone chairman, CEO and co-founder, Stephen A. Schwarzman, told Axios that he will support Trump and donate heavily to him and Senate Republicans ahead of the coming elections.

“The dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency. I share the concern of most Americans that our economic, immigration and foreign policies are taking the country in the wrong direction,” the private equity and real estate giant who is one of the richest people in the world said.

“For these reasons, I am planning to vote for change and support Donald Trump for President. In addition, I will be supporting Republican Senate candidates and other Republicans up and down the ticket,” he added.

Schwarzman was one of Trump’s top supporters while he was in office. However, he announced in 2022 that he did not intend to support the former president during the primaries for the 2024 election.

At the time, the lifelong Republican thought that a new generation of leaders would do the party more good than sticking to Trump.

“America does better when its leaders are rooted in today and tomorrow, not today and yesterday. It is time for the Republican Party to turn to a new generation of leaders and I intend to support one of them in the presidential primaries,” he said at the time.

Even before he outrightly called for a new choice for the GOP’s presidential candidate, Schwarzman urged Trump to concede defeat in the 2020 election.

The endorsement from Schwarzman could add more than a major financial boost to Trump’s campaign, as it could unlock a vast network of donors connected to Schwarzman. It also holds the potential of business leaders who have been hesitant to back Trump to reevaluate their decision.

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