Billionaires Give Trump A Major Election Day Boost

Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

( – As former President Donald Trump pursues closing the fundraising gap with President Joe Biden, the former’s 2024 Presidential campaign is getting a much-needed boost from billionaires.

On Friday, billionaire CEO and co-founder of Blackstone, Stephen Schwarzman, announced he would be backing Trump in 2024. Although he had stated earlier in the election cycle that the GOP should be turning to a “new generation of leaders.”

Schwarzman, who has an estimated net worth of $39 billion, indicated in his announcement that he shares the concerns of many Americans about the economy, “immigration and foreign policy” that are heading in the “wrong direction.”

The billionaire also said the “dramatic rise of antisemitism” had also forced him to urgently consider the “consequences” of November’s elections.

Schwarzman’s announcement comes as other billionaires rallied behind Trump despite his legal bills straining his campaign finances.

According to reporting by the New York Times, Trump trails Biden by $36.5 billion in net cash in April. 

However, Schwarzman’s support alongside other billionaire benefactors could help Trump narrow the gap.

Early in April, John Paulson, a billionaire hedge fund founder, hosted a fundraising event for the former President’s campaign at his home in Palm Beach, Florida.

To get a seat at Trump’s table, guests were required to contribute $814,600 per person as a “chairman” contributor or $250,000 to attend the event as a “host committee” contributor.

Paulson’s fundraiser has listed casino mogul Steve Wynn, Chicago Cubs co-owner Todd Ricketts, billionaire Robert Mercer and his daughter Rebekah Mercer, and oil magnate Harold Hamm as co-chairs.

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