Major Republican party donor Stephen Schwarzman has come out against Donald Trump and vowed to back a rival candidate in the 2024 presidential election. The billionaire Blackstone CEO confirmed to Axios that he was defecting from Trump’s camp the morning after the former president announced his new bid for the White House. “America does better when its leaders are rooted in today and tomorrow, not today and yesterday,” Schwarzman told Axios. “It is time for the Republican Party to turn to a new generation of leaders and I intend to support one of them in the presidential primaries.” Schwarzman is the second GOP megadonor in just two weeks to abandon Trump after Citadel hedge fund founder Ken Griffin backed Florida Gov. Ron DeSantis last week, branding Trump a “three-time loser” on Tuesday.