Trump's Return: Blackstone CEO Reverses Position, Supports Former President

Blackstone CEO Stephen Schwarzman, who previously distanced himself from Donald Trump, has announced his support for the former president's 2024 run. Schwarzman expressed concerns over economic, immigration, and foreign policy under the Biden administration and cited the rise of antisemitism as a factor in his decision.

In a significant shift, Blackstone CEO Stephen Schwarzman has publicly declared his support for Donald Trump's 2024 presidential bid. This reversal of position comes after Schwarzman previously indicated a desire for the GOP to embrace a new generation of leaders.

In a statement obtained by Axios, Schwarzman outlined his reasons for supporting Trump. He expressed concerns about the direction of the country under President Biden, particularly in the areas of economics, immigration, and foreign policy.

Schwarzman's decision to back Trump is noteworthy given his previous comments and actions. In 2022, he suggested that it was time for the Republican Party to move on from Trump's era. This view was consistent with his earlier distancing from the former president in the lead-up to the GOP primary.

However, Schwarzman has now expressed a heightened sense of urgency due to the rise of antisemitism. He criticized President Biden's handling of anti-Israel protests on college campuses, claiming that the administration had not done enough to combat antisemitism.

Schwarzman's support of Trump adds to the growing momentum behind the former president's 2024 campaign. Big-money GOP donors have been rallying around Trump in recent months, attempting to close the fundraising gap with President Biden.

In April, Trump surpassed Biden in monthly fundraising for the first time this cycle, driven by a record-breaking $50.5 million haul at an event hosted by billionaire investor John Paulson.

Schwarzman's decision to embrace Trump once again reflects the shifting dynamics within the Republican Party. While some have called for a break from the former president, others believe that he remains the party's best chance of reclaiming the White House.

Schwarzman's comments also highlight the importance of antisemitism as a factor in the upcoming election. The issue has gained increasing prominence in recent months, with Trump's supporters blaming the Biden administration for not doing enough to address it.

The Trump campaign has not yet responded to requests for comment, but the Biden campaign has been actively criticizing the former president and his policies.

It remains to be seen how Schwarzman's support will impact the trajectory of Trump's 2024 campaign. However, his decision to reverse his position is a significant indication of the shifting alliances and priorities within the Republican Party.