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Politics

Magan Crane

Billionaire Republican donor Schwarzman says he will back ‘new generation’ over Trump

Donald Trump Stephen Schwarzman Republican Blackstone .Blackstone Inc. White House Washington D.C.

WASHINGTON — Blackstone Inc. Chief Executive Officer and Republican megadonor Stephen Schwarzman won’t be backing former President Donald Trump’s bid for a return to the White House, saying it is time for the party to move on.

“America does better when its leaders are rooted in today and tomorrow, not today and yesterday,” Schwarzman said in a statement Wednesday. “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’s defection from Trump, reported earlier by Axios, marks the second time in recent days a major GOP donor has said publicly they will not be giving to Trump’s 2024 effort.

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