ABOUT-FACE: Billionaire Blackstone Group CEO Changes His Tune, Throws His Weight Behind Trump

AP Photo/Frank Franklin II

Like many other Wall Street CEOs, Blackstone Group CEO Steve Schwarzman distanced himself from Donald Trump after his 2020 election loss to Joe Biden and the hyper-politicized events of Jan. 6, 2021. (Note: Do not confuse Blackstone with Blackrock, another behemoth investment company known for their dubious reverence of ESG.)


But now Schwarzman's had a change of heart after watching Biden’s policies wreak havoc on America, and he’s putting his considerable weight behind none other than the former president.

The rising antisemitism in this country—and Biden’s unwillingness to take a strong stand against it—played a big role in his decision.

Blackstone Group CEO Steve Schwarzman announced on Friday that he will back Donald Trump in the 2024 election, giving the former president the support of one of the biggest names on Wall Street.

Schwarzman, the billionaire co-founder and chair of the world’s largest private equity firm and a GOP megadonor, said in a statement that the “dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency.”

It’s not only the virulent antisemitism we’ve been witnessing under Biden’s watch that has Schwarzman concerned—he also notes that many of the president’s other policies have been equally disastrous. The Wall Street titan slammed almost every major pillar of Biden’s agenda, saying he shares “the concern of most Americans that our economic, immigration and foreign policies are taking the country in the wrong direction.”

Because of all that, he’s not only going to fully support Trump, but he’s getting behind GOP candidates across the board:

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.


As many polls increasingly show that Trump is building a solid lead over the failed president, and Biden continues to falter every time he steps out in public, other financial bigwigs are taking note as well. They’re reading the writing on the wall: 

Other billionaires, including oil and natural gas executive Harold Hamm, Wall Street investor Nelson Peltz and hotel tycoon Robert Bigelow are also backing the former president after previously issuing statements condemning his actions in the aftermath of the Jan. 6, 2021, riot at the Capitol.

Trump’s momentum with megadonors comes as President Joe Biden’s fundraising efforts have showed signs of sagging. Earlier this week, the Biden team reported that it brought in less money in April than Trump’s campaign says it raised alongside the Republican National Committee.

Whether we like it or not (and I don’t), money and megadonors play a huge role in who wins elections in this country. Biden and the Democrats have turned fundraising off the elite into an art form—virtually every Hollywood exec and Silicon Valley CEO donates heavily to the Democrat party. It’s past time we get some financial heavyweights on our side—even if we don't love every single thing about some of them. 

Sometimes I’ve wondered—where’s our George Soros? Surely not every billionaire can be an unhinged leftist (though it almost seems that way). In some ways, Elon Musk has taken on that role, and though he hasn’t fully embraced the conservative stance, he’s nevertheless been a strong supporter of free speech and has called out much of the progressive lunacy we’ve seen in recent years.


Schwarzman’s reversal could be a harbinger of things to come as more and more politically active bigwigs—including those who formerly opposed Trump—realize we simply cannot continue under this Biden regime while our country plunges into chaos. 


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