(Reuters) – Blackstone (NYSE:) CEO Stephen Schwarzman will support Donald Trump as the former U.S. president tries to return to the White House, Axios reported on Friday.
Schwarzman, one of the largest political donors on Wall Street, plans to donate money to Trump and several Republican Senate candidates, the report said, citing a statement from the investment management firm’s CEO.
Schwarzman had long been seen as an ally of Trump and had announced in 2022 that he would not support the former president. He said it was time for the Republican Party to turn to a new generation of leaders. He did not endorse any candidate in this year’s nominating contests.
But concerns about economic, immigration and foreign policy under Democratic President Joe Biden, along with “the dramatic rise of anti-Semitism” in the country, were the driving force behind his decision to support Trump, Schwarzman said in the statement.
Before Friday’s report, Schwarzman had donated $375,000 in March to Buckeye Values, a super PAC that backed Ohio Republican Senate candidate Bernie Moreno and then organized Trump rallies, campaign finance records show.
Blackstone did not immediately respond to a Reuters request for comment.
