Blackstone CEO Stephen Schwarzman to Support Donald Trump for President

The billionaire and lifelong moderate Republican, Stephen A. Schwarzman, has announced his support for Donald Trump in the upcoming elections. Schwarzman, the chairman, CEO, and co-founder of Blackstone, a private equity and real estate giant, plans to donate to Trump and various Republican Senate candidates.

Schwarzman’s endorsement gives Trump access to a powerful network of Republican donors that Schwarzman has cultivated over the years. This move could also sway some business leaders who have been hesitant to support Trump in the past.

The decision to back Trump comes after Schwarzman’s concerns about rising antisemitism and President Biden’s policies. Schwarzman believes that the country’s economic, immigration, and foreign policies are heading in the wrong direction, prompting him to support Trump for President.

This announcement marks a shift for Schwarzman, who was one of Trump’s most visible business supporters during his time in the White House. However, ahead of this year’s GOP primaries, Schwarzman called for “a new generation of leaders” and did not endorse a primary candidate.

As some business leaders begin returning to Trump’s camp, Blackstone remains highly bipartisan. Jon Gray, Blackstone’s president and COO, supports Biden and is a big Democratic donor. Tom Nides, formerly Biden’s ambassador to Israel, recently joined Blackstone as vice chairman for strategy and client relations.

The move to support Trump could have significant implications for the upcoming elections and the Republican Party as a whole. Schwarzman’s endorsement adds a powerful voice to Trump’s campaign and could influence other business leaders to follow suit.