Blackstone’s Steve Schwarzman
Source: Blackstone
Blackstone Group CEO Stephen Schwarzman will support former U.S. President Donald Trump as he seeks to return to the White House, Axios reported on Friday.
The report quoted a statement from the CEO of an investment management company saying that Schwarzman is one of Wall Street’s largest political donors and plans to donate to Trump and multiple Republican Senate candidates.
Schwarzman, long considered a Trump ally, announced in 2022 that he would not support the former president and said it was time for the Republican Party to turn to a new generation of leaders. He has not endorsed any candidates in this year’s nominating race.
Schwarzman said in a statement that concerns about the economy, immigration and foreign policy under Democratic President Joe Biden, as well as a “dramatic rise in anti-Semitism” in the country, contributed to his decision to support Trump.
Before Friday’s report, Schwarzman donated $375,000 in March to Buckeye Values, a super PAC backing Ohio Republican Senate candidate Bernie Moreno, campaign finance records show. The organization later hosted a Trump rally.
Blackstone did not immediately respond to Reuters’ request for comment.
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