GIVE IT UP

Trump’s Biggest Wall Street Donor, Steve Schwarzman, Tells Him the Election Is Over

Blackstone CEO Steve Schwarzman pumped millions of dollars into Trump’s 2020 campaign even as other big financial backers abandoned him.

One of President Donald Trump’s closest allies and wealthiest donors has told him that it’s time to give up the election. Blackstone CEO Steve Schwarzman—who donated millions of dollars to Trump’s 2020 campaign even as other big financial backers abandoned him—backed Trump’s bid for president in 2016, chaired the White House’s strategic and policy forum, and remains an unofficial Trump adviser. But, in a statement to Axios, Schwarzman said the election result is “very certain” and it’s time to “move on.” He added: “I supported President Trump and the strong economic path he built... Like many in the business community, I am ready to help President-elect Biden and his team as they confront the significant challenges of rebuilding our post-COVID economy.”