Billionaire Blackstone CEO Backs Trump. Slams Biden’s Policies

CEO and co-founder of Blackstone Steve Schwarzman announced that he would be throwing his support behind former President Donald Trump on Friday.

While he has not backed Trump for years, Schwarzman told Axios that he will now be backing the Republican presidential candidate due to some of President Joe Biden’s policies.

Starting with the “dramatic rise of anti-Semitism” in the United States, Schwarzman, who is Jewish, said that he has been focused on “the consequences of upcoming elections with greater urgency.”

He then went on to say that the Biden administration’s policies are “taking 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,” he said, adding, “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.”

The private equity and real estate giant’s declaration of support for Trump comes after he pulled his support from him after a failed 2020 election. He also refused to support Trump for the 2024 election before now, saying in 2022 that the Republican Party should look for another candidate to nominate for the coming presidential election.

According to him, it was time for the GOP to move away from Trump and “turn to a new generation of leaders.”

Before he pulled his support from Trump, Schwarzman was a huge backer for Trump, having donated tens of millions of dollars to Republican candidates, including Trump, in the past. He was an ally of Trump’s throughout his first term, filling the position of chairman of President Trump’s Strategic and Policy Forum for the first seven months of Trump’s term in office.