While Donald Trump has a 'massive war chest' built through donations from smaller donors around the country, and wide support from allies in congress such as Marjorie Taylor Green (R-GA) and Andy Biggs (R-AZ), a second GOP billionaire donor has come out against the former president, who formally announced a 2024 run on Tuesday night.
After Citadel founder Ken Griffin on Monday labeled Trump a "three-time loser," who he hoped wouldn't run in 2024, Blackstone CEO Stephen Schwarzman announced he would not back the former president's latest run, despite Trump naming him chair of the now-defunct Strategic and Policy Forum.
"America does better when its leaders are rooted in today and tomorrow, not today and yesterday," Schwarzman said in a statement. "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."
It is unclear how much the rejection of big GOP donors hurts Trump, however. Trump was successful in 2016 without major party backers and appeals to his base with a populist message.
Griffin never gave to Trump. And Schwarzman didn’t support him until he was already president, giving $344,400 in Dec. 2017 to a committee that supported Trump’s campaign and the Republican National Committee. In all, Schwarzman gave $3.7 million to committees that supported Trump. -Bloomberg
Of note, Griffin never gave to Trump - and Schwarzman was a latecomer in his support, waiting till Trump was already president to give $344,400 in Dec. 2017 to a committee that supported Trump and the RNC (ultimately giving $3.7 million to committees that supported the former president).
According to the report, Trump's rejection by two conservative billionaires 'could give cover to elected officials who are still deciding who to back.'